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Strategic Analysis of North American and European Hybrid Truck, Bus and Van Market
Frost & Sullivan, May 2010, Pages: 112
This study focusses on the hybrid systems developed for commercial vehicles such as Trucks, Buses and Vans. Study focusses on the key trends driving the demand of hybridization of commercial vehicles and the factors favoring the adoption of hybrid commercial vehicles. Study covers both North American and European regions focussing on the regulatory and legislative trends in these regions and their impact on hybrid CV. Study also provides insights into fleet managers preferences, strategies for price reductions and covers the entire competitive value chain of the hybrid commercial vehicles. Study offered in depth market forecasts with scenario analysis and cost benefit analysis, with profiles of key market participants.
This Frost & Sullivan research service titled Strategic Analysis of North American and European Hybrid Truck, Bus and Van Market provides an overview of key trends influencing the growth of hybrid commercial vehicles in North America and Europe with scenario analysis, cost benefit analysis and end-user research, in addition to recommendations and key takeaways. In this research, Frost & Sullivan's expert analysts thoroughly examine the following: light commercial vehicles, medium commercial vehicles, heavy commercial vehicles and buses.
Incentives and Federal Grants to Boost the Adoption of Hybrid Commercial Vehicles in North America and Europe
Unlike conventional vehicles, hybrid commercial vehicles offer several benefits such as improved fuel-efficiency, reduced emissions and lowered maintenance costs, thereby driving the hybrid commercial vehicles market in North America and Europe. Growing urbanisation and the development of mega cities will increase congestion, making it a favourable environment for hybrid vehicles. In the short-term, incentives and federal grants are expected to propel the adoption of hybrids. “Amongst the alternative powertrain technologies and fuels, hybrid commercial vehicles pose the least pressure on existing energy and transportation infrastructure, and require minimal modifications to the existing fuelling infrastructure,” says the analyst of this research. “This aspect of hybrid commercial vehicles is acting as one of the strongest market drivers in North America and Europe, attracting governments, commercial vehicle manufacturers, and potential consumers alike towards supporting and accepting hybrid commercial vehicles.” In the commercial vehicle industry, the return-on-investment (ROI) potential is a key determinant for adoption of new technologies. Fuel price volatility, government incentives and low lifecycle costs associated with hybrid trucks are all in favour of hybrid commercial vehicles.
However, hybrid trucks feature energy storage systems, control and power electronics and rotating machines, which are expensive technologies creating considerable cost barriers to potential adopters. Furthermore, storage systems such as batteries need to be replaced every four to five years based on the vocational application. “Currently, the high upfront cost associated with hybrids is countered with federal grants, incentives, and tax rebates,” explains the analyst. “Although such incentives offer relief in the short-term, for hybrids to be commercially viable in the long term, the upfront cost difference should reduce considerably.”
Private fleets in North America and Europe have emerged as early adopters of hybrid commercial vehicles. However, robust volume growth can be attained through the penetration of for-hire fleets. “Standardization of key enabling technologies will not only reduce R&D expenses and complexity but also create a foundation for launching aggressive price reduction strategies that are necessary for stoking market growth,” concludes the analyst.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Product:
- Light commercial vehicles
- Medium commercial vehicles
- Heavy commercial vehicles
- Buses
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