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Hybrid Vehicles Market Expected To Witness A Sustainable Growth Over 2024 Date: March 1, 2022 Author: Tech News
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The global hybrid vehicles market has been gaining momentum over the past few years as vehicles available in this market are known to have a sophisticated performance. Hybrid vehicles operate without separate alternators and engines and usually have multiple combined motor or generators, which is used for starting internal combustion engine. These motor and generators deliver a better performance as compared to others, making hybrid vehicles superior as compared to conventional ones. Furthermore, the fact that pure hybrid vehicles are emit lesser carbon dioxide and are environment friendly is also driving the growth of the global market. Owing to these reasons, the global hybrid vehicles market is expected to be worth US$193.29 bn by 2024 as compared to US$75.52 bn in 2015. Between the forecast years of 2016 and 2024, the global market is estimated to expand at a CAGR of 10.3%. Download Sample Report: