Hybrid Electric Vehicle Conversion Kit Market to grow by $ 27.70 in 2020, A123 Systems LLC and ALTe Technologies emerge as Key Contributors to growth | Industry Analysis, Market Trends, Opportunities and Forecast 2024 |Technavio
Technavio has been monitoring the hybrid electric vehicle conversion kit market and it is poised to grow by 27.70 th units during 2020-2024, progressing at a CAGR of almost 13% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the hybrid electric vehicle conversion kit market. The market growth in 2020 is likely to Increase compared to the market growth in 2019.
Frequently Asked Questions:
What are the major trends in the market?
The focus of government authorities towards attaining economies of scale for conversion kits is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The market will accelerate at a CAGR of almost 13% and the incremental growth of the market is anticipated to be 27.70 th units.
Who are the top players in the market?
A123 Systems LLC, ALTe Technologies, Altigreen Propulsion Labs Pvt. Ltd., Enginer, EVDrive, Hybrid Design Services Inc., IX Energy Pvt. Ltd., KPIT Technologies Ltd., Odyne Systems LLC, and XL Hybrids Inc, are some of the major market participants.
What is the key market driver?
The use of lightweight conversion kits is one of the major factors driving the market.
How big is the North America market?
The North America region will contribute to 40% of the market share.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. A123 Systems LLC, ALTe Technologies, Altigreen Propulsion Labs Pvt. Ltd., Enginer, EVDrive, Hybrid Design Services Inc., IX Energy Pvt. Ltd., KPIT Technologies Ltd., Odyne Systems LLC, and XL Hybrids Inc. are some of the major market participants. The use of lightweight conversion kits will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this hybrid electric vehicle conversion kit market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Hybrid Electric Vehicle Conversion Kit Market 2020-2024: Segmentation
Hybrid Electric Vehicle Conversion Kit Market is segmented as below:
Hybrid Electric Vehicle Conversion Kit Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The hybrid electric vehicle conversion kit market report covers the following areas:
Hybrid Electric Vehicle Conversion Kit Market Size
Hybrid Electric Vehicle Conversion Kit Market Trends
Hybrid Electric Vehicle Conversion Kit Market Industry Analysis
This study identifies focus of government authorities towards attaining economies of scale for conversion kits as one of the prime reasons driving the Hybrid Electric Vehicle Conversion Kit Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Hybrid Electric Vehicle Conversion Kit Market 2020-2024: Key Highlights
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist hybrid electric vehicle conversion kit market growth during the next five years
Estimation of the hybrid electric vehicle conversion kit market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the hybrid electric vehicle conversion kit market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of hybrid electric vehicle conversion kit market vendors
Table of Contents:
Executive Summary
Market Landscape
Market ecosystem
Value chain analysis
Market Sizing
Market definition
Market segment analysis
Market size 2019
Market outlook: Forecast for 2019-2024
Five Forces Analysis
Five forces summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition
Market Segmentation by Application
Market segments
Comparison by Application
Commercial vehicles - Market size and forecast 2019-2024
Passenger cars - Market size and forecast 2019-2024
Market opportunity by Application
Customer landscape
Geographic Landscape
Geographic segmentation
Geographic comparison
North America - Market size and forecast 2019-2024
APAC - Market size and forecast 2019-2024
Europe - Market size and forecast 2019-2024
South America - Market size and forecast 2019-2024
MEA - Market size and forecast 2019-2024
Key leading countries
Market opportunity by geography
Market drivers
Market challenges
Market trends
Vendor Landscape
Overview
Vendor landscape
Landscape disruption
Vendor Analysis
Vendors covered
Market positioning of vendors
A123 Systems LLC
ALTe Technologies
Altigreen Propulsion Labs Pvt. Ltd.
Enginer
EVDrive
Hybrid Design Services Inc.
IX Energy Pvt. Ltd.
KPIT Technologies Ltd.
Odyne Systems LLC
XL Hybrids Inc.
Appendix
Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations
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