Worldwide demand for light hybrid-electric vehicles (HEVs) is forecast to advance rapidly, reaching 4.5 million units in 2013. HEVs are expected to represent over six percent of world light vehicle demand that year due to two primary stimulants: rising energy costs and increased emissions regulations. Cost disparities between HEVs and conventional light vehicles -- currently estimated at between $600 and $4,000 per vehicle, depending on type of hybrid technology used -- are expected to decline significantly as production volumes increase. The primary markets for HEVs are expected to be within Triad countries (i.e., the U.S., Western Europe and Japan), although the rapidly growing Chinese market is also expected to experience strong demand for these fuel efficient and environmentally cleaner vehicles. These and other trends are presented in World Light Hybrid-Electric Vehicles, a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.
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