Market Demand : Hybrid Electric Vehicle Conversion Kit Market Globally Grow at a CAGR of 20.52% by 2021

The HEV conversion kit allows conventional vehicle to be converted into hybrid electric vehicle (HEV) or plug-in HEV (PHEV). The conversion kit allows conventional vehicles to be converted into HEVs or PHEVs.

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The conversion kit provides options beyond what is available from the automotive original equipment manufacturers (OEMs). The development of the conversion kit is allowing the conversion of light and heavy-duty vehicles into hybrid vehicles in an economical and reliable manner. However, conversion kits are not limited to hybrid alone; they are scalable to convert a conventional vehicle to complete EV.

Technavios analysts forecast the global hybrid electric vehicle conversion kit market to grow at a CAGR of 20.52% during the period 2017-2021.

Covered in this report
The report covers the present scenario and the growth prospects of the global hybrid electric vehicle conversion kit market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:
Americas
APAC
EMEA

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Technavio's report, Global Hybrid Electric Vehicle Conversion Kit Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
XL Hybrids
Enginer
KPIT Technologies
Odyne Systems
EVDrive

Other prominent vendors
Altigreen Propulsion Labs
A123 Systems
ALTe Technologies
Boulder Hybrids

Market driver
Development of grid-independent low-cost hybrid kit for light vehicles
For a full, detailed list, view our report

Market challenge
Decreasing cost of new HEVs
For a full, detailed list, view our report

Market trend
Increasing development of low-cost conversion kit
For a full, detailed list, view our report

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Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?

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