Published on : Dec 21, 2016
Albany, New York, December 21, 2016: Today’s concern about global warming and the expense of gasoline has made people choose the best electric and hybrid cars. From what can be considered as comprising a niche market, hybrid and electric cars are quickly establishing themselves as a fast-developing market. Now, several major companies have added hybrid cars to their production lists. Also, hybrid and electric car parc set to approach 350,000 vehicles in 2016. A new report by Mintel has been added to the vast portfolio of Market Research Hub (MRH). It is titled as “Hybrid and Electric Cars- UK - December 2016” and offers a detailed analysis of the U.K. hybrid and electric car market during the forecast period 2011-2021.
The study examines that major car manufacturers have made claims that the hybrids are the vehicles of the future. This is due to the demand that people are now making as a way of conveying the overpriced gas prices that have risen steadily over the past few years. The hybrid vehicle is certainly the solution that many people have been searching for. With support and innovation ongoing, Mintel predicts further expansion with these vehicles becoming a common feature on the roads. Now, various hybrid car brands allow people a choice of having a modish look and at the same time fuel is conserved along with an active contribution to keeping the environment pollution free. Cost, availability and performance are stated to be the key features of hybrid and electric cars.
This report is a complete study of current trends in the market along with market drivers, market segmentation and market share. The major car companies from all over the world are currently in a tight race to produce hybrid cars on a large scale. Though there is a range of hybrid models available in the car market, Toyota Prius occupies the major market share in this sector. Hyundai has also entered the hybrid and electric market whereas Nissan takes a controlling stake in Mitsubishi. Also, Ultra-low emission vehicles and plug-in hybrid electric car market account for a much stronger share of sales in 2016. Due to the rising awareness of fuel cell electric vehicles (FC-EVs), the market has achieved high sales in September 2016, as observed by the study. Moreover, the report states that franchised dealers dominate the U.K. market.
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In the U.K., the fluctuating oil prices are another major factor encouraging consumers to adopt hybrid vehicles. Fewer carbon deposits are produced in the engine while combustion which makes the engine more efficient than the conventional fuel engine. Additionally, stimulated by support from the U.K. government and manufacturers, demand for these vehicles has led to the formation of an improved dynamic segment within the UK car market.
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