Global hybrid and electric cars market has grown strongly in recent years. It is looking set to continue with strong double-digit growth in the forecast period. This is largely due to more countries committing to targets to combat CO2 emissions, as well as developing their charging networks.
The hybrid and electric market is heavily influenced by the policy environment within each country. For instance, in China current restrictions on license plates for petrol and diesel-powered cars mean that consumers are being forced to look at alternatives. Population density and high fuel costs mean that hybrid and electric cars are becoming an increasingly popular.