Delhi, India (PressExposure) July 15, 2009 -- According to our latest research âHybrid Car Market Forecast to 2012â, the world will see a CAGR of around 16% during 2009-2012 in demand for hybrid electric vehicle (HEV) and plug-in batteries. HEVs combine the benefits of gasoline engines as well as electric motors and can be configured to achieve improved fuel economy, increased power, and above all, better performance as a result of very low level of green house gas emissions.
Increasing demand of gas, rising oil prices and environmental concerns are driving a market that is in need of alternative solutions. With rapidly increasing concerns for reduction in CO2 emissions, governments worldwide continue to support the development process of hybrids. Recent example has been a US$ 2.4 Billion package announced by the US government aimed at the development of hybrids and elective vehicles in the country. This is expected to fuel demand for HEV and plug-in batteries in near future.
Our research has found that the popularity of hybrid electric vehicles (HEVs) is increasing dramatically across all the countries in the world. At present, the developed countries are keen to promote HEVs while the developing countries are unable to enforce their usage. Also, Nickel-metal hydride (NiMH) batteries will continue to be the dominant HEV-battery technology through 2010, but are likely to later concede market share to Li-ion batteries.
Overall, we anticipate the global sales of hybrid cars to grow at a CAGR of around 20% during 2009-2012. The forecasts done in the report are based on our extensive industrial study and comprehensive analysis of both the current as well as future market development taking place across various key and emerging markets.
Our report âHybrid Car Market Forecast to 2012â provides in-depth analysis of the factors which will fuel growth into this market over the forecast period (2009-2012). The report studies the hybrid car market of different countries besides analyzing the global market. It also provides analytical and statistical data on the concerned market. Due consideration has been given to the impact of economic slowdown while making projections. The research will aid clients to capitalize on the opportunities emerging in the worldwide hybrid car market.
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