Plug-in Hybrid Electric Vehicles (Phev) Market Regulations and Competitive Landscape Outlook to 2026

A Plug-in Hybrid Electric Vehicle (PHEV) is a vehicle which comprises of internal combustion engine (IC Engine), electric motor, and a rechargeable battery. The PHEV can work even after their battery is emptied, by using IC Engine and can operate as a conventional vehicle. The combination of both electric and IC engine power enable the vehicle to travel long distances. As compared to conventional vehicles, plug-in hybrid electric vehicles emit less harmful greenhouse gases, thus making them more environment friendly than the conventional vehicles. PHEVs are mostly passenger cars but there are light commercial vehicles, heavy commercial vehicle, and two wheelers which have this feature available. The PHEV is popular in number of countries such as U.S., China, Japan, the Netherlands, and Canada. The plug-in hybrid electric vehicle gaining popularity in other countries as well such as France, Italy, Germany, Sweden, U.K., Norway, and Spain among others.

Global Plug-in Hybrid Electric Vehicle Market Dynamics:

Global Plug-in Hybrid Electric Vehicle Market is driven by rising environment concerns, stringent emission norms, and subsidies & tax benefits by the governments. Plug-in Hybrid Electric Vehicle Market is facing restraints such as high cost of plug-in hybrid electric vehicles, lack of infrastructure such as plug-in charging points, and high cost of battery. To overcome these restraints private sector and government organizations should work closely to ensure the cost of the plug-in hybrid vehicle decreases and construction of adequate infrastructure. Along with this, public awareness programs should be carried out to aware the public about the benefits of the plug-in hybrid electric vehicles over the conventional vehicles.

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Global Plug-in Hybrid Electric Vehicle Market Segmentation:

The global Plug-in Hybrid Electric Vehicle market is segmented on the basis...