Hybrid electric vehicle market to peak in 2027
 

At $792 billion

A new report from IDTechEx predicts that the Full Hybrid Electric vehicle market will Peak in 2027 when it will be worth $792 billion.

The report from IDTechEx on “Full Hybrid Electric Vehicle Markets 2021-2041”, said that Hybrid electric vehicles (HEVs) have seen significant growth in sales over recent years, and the HEV market is set to increase in 2020 despite the implications of COVID-19 on the global automotive industry.

These HEVs or “self-charging hybrids” (hybrids which do not plug in but have electric-only driving modes), provide for the consumer that wants reduced fuel consumption and CO2 emissions but isn’t completely convinced by the proposition of plug-in vehicles.

https://fudzilla.com/news/automotive...t-to-peak-2027