The Hybrid Truck Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Hybrid Truck Market:
https://www.thebusinessresearchcompany.com/report/hybrid-truck-global-market-report
According to The Business Research Company’s Hybrid Truck Global Market Report 2024, The hybrid truck market size has grown strongly in recent years. It will grow from $22.18 billion in 2023 to $23.74 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to fuel efficiency requirements, environmental regulations, cost savings and operational efficiency, government incentives and subsidies, rise in awareness of carbon footprint.
The hybrid truck market size is expected to see strong growth in the next few years. It will grow to $31.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to advancements in battery technology, expansion of green logistics, global transition to sustainable transport, stringent emission standards, economic and regulatory support. Major trends in the forecast period include expansion of autonomous and semi-autonomous features, emphasis on aerodynamic design for fuel economy, introduction of regenerative braking systems, focus on last-mile delivery solutions, implementation of predictive maintenance technologies..
A surge in government regulations and policies against diesel and gasoline-powered vehicles is expected to propel the growth of the hybrid truck market. Emerging government regulations for the emission of greenhouse gases and pollution control policies are encouraging truck manufacturers to develop vehicles with alternate fuel-powered consumption vehicles. These government regulations and policies are helping the hybrid truck market expansion. For Instance, in December 2021, the Environmental Protection Agency (EPA), a US-based organization responsible for protecting the environment, approved federal greenhouse gas (GHG) emissions standards for Model Years (MY) 2023 through 2026 for cars and light trucks. The final regulations will reduce pollution, enhance public health, and cost-effectively fuel drivers, resulting in net benefits to Americans of $190 billion. Therefore, the surge in government regulations and policies against diesel and gasoline-powered vehicles is driving the growth of the hybrid truck market.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=9082&type=smp
The hybrid truck market market covered in this report is segmented –
1) By Technology Type: Parallel Hybrid, Series Hybrid, Series-Parallel Hybrid, Plug-In-Hybrid
2) By Vehicle Type: Light Duty Truck, Heavy Duty Truck
3) By Application: Construction, Pick Up And Delivery Vehicle
Technological advancement is a key trend in the hybrid truck market. Major companies operating in the market are developing advanced technology engines and motors, such as zero-emission hybrid powertrain technology, to sustain their position in the market. For instance, in May 2022, US Hybrid, a USA-based company that manufactures power conversion systems, launched near-zero-emission natural gas-powered parallel hybrid powertrain technology for drayage and long-haul trucks. This new technology delivers more power, consumes less fuel, increases efficiency, and has near-zero emissions. This advanced technology will provide near-zero-emission roadside charging assistance to standard long-haul fleet operators, providing versatility and convenience to fleet customers.
The hybrid truck market report table of contents includes:
1. Executive Summary
.
.
.
Related Reports
https://topprnews.com/print-label-market
https://topprnews.com/primary-school-market-size
https://topprnews.com/pressure-transducer-market
https://goodprnews.com/print-label-market
https://goodprnews.com/primary-school-market-size
https://goodprnews.com/pressure-transducer-market
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
The warmer display cases global market report 2024 from The Business Research Company provides comprehensive…
The veterinary renal disease global market report 2024from The Business Research Company provides comprehensive market…
The spring loaded industrial cable reels global market report 2024 from The Business Research Company…
The secure data destruction global market report 2024 from The Business Research Company provides comprehensive…
The qr code payments global market report 2024 from The Business Research Company provides comprehensive…
The plastic additives global market report 2024 from The Business Research Company provides comprehensive market…