Passenger cars segment is expected to lead the global hybrid vehicles market in terms of revenue growth over the forecast period
Passenger cars are the most technologically advanced of all the vehicle groups and manufacturers of passenger cars are focussed on providing comfort and luxury to passengers. The passenger cars segment is projected to gain more than 1000 BPS by 2026 as compared to that in 2016, expanding with a healthy CAGR of 22.8% over the forecast period. The passenger cars segment was estimated to account for more than 65% value share of the global hybrid vehicles market in 2016 and is estimated to reach more than 80% value share by the end of 2026. By vehicle type, the passenger cars segment is estimated to represent high incremental $ opportunity compared to the light commercial vehicles segment.
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