With the economic recovery and aggressive new models launches, the US hybrid car industry is expected to post CAGR of around 23.4% during 2010-2012, says RNCOS.
Online PR News – 22-June-2010 – – According to our research report “Hybrid Car Market Forecast to 2012”, the US currently dominates the global hybrid car sales, followed by Japan and Europe. Government favorable policies and increasing acceptance of hybrid cars enabled the US market to post one of the world’s fastest industry developments. The fluctuation of oil prices, tax incentives, strict emission standards and increasing consumer awareness are expected to drive the hybrid car sales growth at a double digit CAGR in the years to come.
The report has identified that the US made up for around 61% of the global hybrid car sales in 2008 followed by Japan. While hybrid cars are quite popular in some geographic regions of the US, they have not achieved the mainstream status in many others. In the western region, hybrid cars comprised 5.5% of all retail registrations in 2008. On the other end of the spectrum, hybrid cars comprised just 1.8% of the retail vehicle market in the Great Lakes region. It is anticipated that the increasing awareness about hybrid cars in underdeveloped regions will further amplify the overall industry developments in coming years.
Apart from the US, various other markets including Japan, the UK, Germany, the Netherlands, etc have posted notable market developments in recent years. The governments of these countries are striving hard to lessen their crude oil dependency and adopting stringent environment protection measures which in turn triggering hybrid car industry growth.
“Hybrid Car Market Forecast to 2012” is an outcome of extensive research and conceptual analysis of hybrid car industry potential in the leading global markets. The report provides country-level historical and current market performance with ongoing industry trends. We have also studied key players in the Competitor Analysis section of the report. The section talks about the business profile and strategic moves of leading players operating in the sector.
Most importantly, the report has given the industry forecast based on correlation of past drivers, challenges and opportunities for expansion. In this way, the report presents a complete and coherent analysis of the global hybrid car industry and will prove decisive for clients.
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