The Mitsubishi Outlander plug-in hybrid electric vehicle on display at the 2018 Canadian International AutoShow
At least one research team expects hybrid electric vehicles to see a boost over the next few years in Western Europe.
The Freedonia Group sees HEVs sales to more than double current numbers through 2022,
gaining an average of 21 per cent each year. Subsidies, tax benefits and infrastructure incentives are all expected to play key roles in consumers buying HEVs.
The Cleveland-based industry research firm also noted bans on diesel and traditional engine vehicles as factors for the increase.
“Plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) will register the fastest average annual advances through 2022 and will together account for over 50 per cent of new HEV sales, buoyed by the increasing number of models available and falling lithium-ion battery costs,” the firm said in a statement.
As for global demand, the forecast of HEVs sees it growing 23 per cent each year through 2022.
“China will register the fastest and largest sales gains, accounting for more than 70 per cent of new sales through 2022, when it will surpass Japan to become the leading global HEV market,” Freedonia said.