LONDON–(BUSINESS WIRE)–Technavio has been monitoring the hybrid commercial vehicle market and it is poised to grow by 68.43 th units during 2020-2024, progressing at a CAGR of over 8% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the hybrid commercial vehicle market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions:
What are the major trends in the market?
Small-sized Li-ion batteries