HYBRID ELECTRIC VEHICLES COMPONENTS MARKET TO 2023
Summary Hybrid engines are becoming well established as an addition to conventional engines. Current worldwide sales figures support this trend and suggest that the hybrid market will grow strongly over the coming years. Forecasts of actual market volumes predict sales of more than ten million hybrid electric vehicles by 2023. In the long term, hybrid vehicles will be a complementary solution to electric cars and will use new energy sources such as batteries and fuel cells. In 2017, Toyota sold more than one million hybrid vehicles worldwide. Hybrid technology has been most successful in Japan and the U.S. but also is likely to gain popularity in Europe and China, among others. Hybrid systems can be divided into three different forms: mild hybrid, full hybrid and plug-in hybrid. The differences are dictated by the performance of the electric motor, the size of the battery and the charging of the battery. Mild hybrid system – In this system the electric motor can provid...