From 2012 to 2018, Plug-In Hybrid Vehicle Segment Expected to Grow by 80% Annually
“In response to increasing demand of renewable energy powered vehicles that lowers the total cost of ownership, electrical vehicle is the solution provided by automobile industry.”
That’s the reason why Transparency Market Research says that the plug-in hybrid vehicle segment is nearing the point of exploding in a positive way.
According to the market research report:
“Electric vehicles represent a quantum shift in traditional transportation system.”
This quantum shift is catching on though. Transparency Market Research predicts this:
“This industry is expected to grow at CAGR [compound annual growth rate] of more than 18% over the period of 2012-2018. Among all the major segments, plug-in HEVs segment of electrical vehicles industry will experience the maximum growth, registering a CAGR of more than 80% followed by the hybrid electric vehicles segment with a CAGR of 19% during 2012-2018.”
80%. Now that’s some serious growth.
Source: Transparency Market Research