Luxury Hybrid SUVs Market Scope
A luxury hybrid SUV is powered by an internal combustion engine and an electric motor. The vehicle offers power modes ranging from eco to power. This gives the driver to choose maximum efficiency or performance depending on the driving conditions. This enables the driver to save fuel costs thus increasing fuel efficiency. Growing environmental concerns has led to the development and demand for eco-friendly SUVs that cause minimum pollution. Rising fuel prices is another factor driving the market for luxury hybrid SUVs.
The market study is being classified by Type (Standard Hybrid and Plug-in Hybrid) and major geographies with country level break-up.
Tesla (United States), Daimler (Germany), Volkswagen (Germany), Honda Motor Company, Ltd (Japan), Hyundai Motor Company (South Korea), Tata Group (India), BMW (Germany), Nissan Motor Co., Ltd. (Japan), Toyota (Japan) and Ford Motor Company (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are AB Volvo (Sweden).
AdvanceMarketAnalytics has segmented the market of Global Luxury Hybrid SUVs market by Type, Application and Region. On the basis of Type, Plug-in Hybrid are dominating the market in the year 2018 where as Standard Hybrid stood as second largest market share.
On the basis of geography, the market of Luxury Hybrid SUVs has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In September 2019, Volvo became the first car manufacturer to offer plug-in hybrid versions of its entire model range with the launch of the new XC40 T5 Twin Engine. This petrol-electric hybrid powertrain is the UK's first plug-in hybrid premium compact SUV.
The United Nations Economic Commission for Europe’s World Forum for Harmonisation of Vehicle Regulations (WP.29), which is responsible for rules governing Vehicle Type Approvals, set down the standard for AVAS in its Regulation for Quiet Road Transport Vehicles. All new models of hybrid and pure electric vehicles must by law be fitted with an Acoustic Vehicle Alerting System (AVAS) that emits a continuous sound when the vehicle is traveling at speeds of up to 20km/hour after 1 September 2019. This will be extended to all new electric and hybrid vehicles registered after 1 September 2021. At low speeds, electric and hybrid vehicles are a real menace on the roads because they are so quiet at low speeds. Without the purr of a petrol or diesel engine to warn them, pedestrians are less likely to notice the approach of an EV than of a conventional vehicle.
- Rising Focus on Technological Development, Demand Creation, and Changing Infrastructure
- Rising Fuel Prices Is Increasing Demand for SUVs with Higher Fuel Efficiency
- Growing Awareness Regarding Pollution Levels is Another Driver
- Availability of Charging Infrastructure in Developed Nations
- Availability of Tax Benefits and Incentives to Consumers Will Boost Demand
- Rising Environmental Concerns Is Raising Demand for Vehicles That Emit Lesser Co2
- Lack of Charging Infrastructure in Developing Countries
- High Cost and Lower Gas Mileage of Luxury Hybrid SUVs
- High Cost of Electric Engine
Key Target Audience
Luxury Hybrid SUVs Manufacturer, Luxury Hybrid SUVs Distributor & Supplier, Luxury Hybrid SUVs Raw Material Supplier, Luxury Hybrid SUVs End-Users, Potential Technology Investors, Research & Consulting Firms and Others
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