Global electric & hybrid multi-purpose vehicle market stood at over $ 13 billion in 2019 and is projected to cross $ 17 billion by 2025

NEW YORK, April 3, 2020 /PRNewswire/ -- Global Electric & Hybrid Multi-Purpose Vehicle Market, By Type (Electric & Hybrid), By Tonnage (Up to 3.5 Ton & Above 3.5 Ton), By End Use Industry (Personal & Commercial), By Region, Competition, Forecast & Opportunities, 2025



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Global electric & hybrid multi-purpose vehicle market stood at over $ 13 billion in 2019 and is projected to cross $ 17 billion by 2025, on the back of a growing concern for cleaner and environment friendly vehicles worldwide. Garnering support from various government organizations for the adoption of electric vehicles and rising demand from small and medium enterprises for the inclusion of electric & hybrid multi-purpose vehicle in their business operations is bolstering electric & hybrid multi-purpose vehicle sales, globally.
According to WHO, air pollution is the leading cause of death in countries with poor quality of air.As a result, governments of various countries are offering subsidies on the purchase of electric & hybrid vehicles including multi-purpose vehicles.

Furthermore, electric & hybrid multi-purpose vehicles have lower ownership cost and longer lifespan when compared with their diesel or petrol counterparts, which is anticipated to positively influence the growth of the electric & hybrid multi-purpose vehicles market during the forecast period.
Some of the other key factors that would positively influence the global electric & hybrid multi-purpose vehicles market include expanding product offerings, rising adoption of environment friendly vehicles and increasing awareness about clean vehicles.

Years considered for this report:

Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025

Objective of the Study:

• To analyze and forecast global electric & hybrid multi-purpose vehicle market size.
• To classify and forecast global electric & hybrid multi-purpose vehicle market based on fuel type, tonnage, end use industry, region and company.
• To define, classify and forecast global electric & hybrid multi-purpose vehicle market on the basis of fuel type, namely, electric and hybrid.
• To define, classify and forecast global electric & hybrid multi-purpose vehicle market on the basis of tonnage, namely up to 3.5 tons and above 3.5 tons.
• To scrutinize the detailed market segmentation and forecast the market size by segmenting global electric & hybrid multi-purpose vehicle market into regions, namely, North America, Europe and Asia-Pacific.
• To identify drivers and challenges in global electric & hybrid multi-purpose vehicle market.
• To identify market trends & developments in global electric & hybrid multi-purpose vehicle market.
• To identify and analyze the profile of leading players operating in global electric & hybrid multi-purpose vehicle market.
Some of the major players operating in global electric & hybrid multi-purpose vehicle market are Toyota Motor Corporation, Renault–Nissan Alliance, Honda Motor Company, Ltd., etc.
In order to perform the study, the analyst conducted primary as well as exhaustive secondary research.Initially, the analyst prepared an exhaustive list of electric & hybrid multi-purpose vehicle manufacturers operating in different regions and countries.

Subsequently, the analyst conducted primary research surveys, which included primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. The analyst examined product offerings, distribution channels and regional presence of all major electric & hybrid multi-purpose vehicle suppliers across the world.
The analyst calculated global electric & hybrid multi-purpose vehicle market size using a bottom-up technique, wherein manufacturers' volume sales data for different tonnage capacity (up to 3.5 tons and above 3.5 tons) was recorded as well as forecast for the future years. The analyst sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Databases and multiple secondary sources such as European Automobile Manufacturers' Association, Japan Automobile Manufacturers Association, National Association of Automobile Manufacturers (ANFAVEA) Brazil, Alliance of Automobile Manufacturers, National Automotive Dealers Association, etc. International Monetary Fund (IMF), company websites, company annual reports and financial reports were also studied by the analyst.

Key Target Audience:

• Global electric & hybrid multi-purpose vehicle manufacturers, distributors and other stakeholders
• Raw material suppliers
• Automotive OEMs
• Associations, organizations, forums and alliances related to global electric & hybrid multi-purpose vehicle market
• Government bodies such as regulating authorities and policy makers
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as global electric & hybrid multi-purpose vehicle manufacturers, distributors and dealers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, global electric & hybrid multi-purpose vehicle market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Fuel Type:
o Hybrid
o Electric
• Market, by Tonnage Capacity:
o Up to 3.5 tons
o Above 3.5 tons
• Market, by End Use:
o Personal
o Commercial
• Market, by Region:
o Asia-Pacific
China
India
Japan
South Korea
o Europe & CIS
United Kingdom
Belgium
Finland
Netherlands
Rest of Region
o North America
United States
Canada
Mexico

Competitive Landscape

Company Profiles: Detailed analysis of major companies operating in market.

Available Customizations:

With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players.

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