Global Hybrid Vehicle Market

Global Hybrid Vehicle Market by Degrees of Hybridization (Micro Hybrid, Mild Hybrid, and Full Hybrid), Propulsion (HEV, PHEV, and NGV), Electric Powertrain Types (Parallel Hybrid and Series Hybrid), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028

  • Report ID: AL-3810
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 202
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The global hybrid vehicle market is anticipated to expand at substantial CAGR during the forecast period, between 2021 and 2028. A normal vehicle uses an internal combustion engine (ICE) to run using conventional fuels including petrol, diesel, and gasoline; whereas, an electric vehicle uses an electric motor to run using electricity. The hybrid vehicle is a type of vehicle using a combination of these two technology. The hybrid vehicle is equipped with both ICE and electric motors to function smoothly and efficiently. The vehicle switches between fuel powered engine and electric motors whenever necessary to save fuel and emit less toxic emissions produced by crude fuels. The batteries in these vehicles are usually charged while the vehicle is in use by using technology such as regenerative braking systems or by simple dynamo properties. The vehicle turns off the engine whenever not required or whenever electric motors are enough to power the vehicle. This saves a lot of fuel while making these vehicles eco-friendly and more prominent among all sectors; due to which the hybrid class of vehicles are gaining a lot of popularity and in a very short span of time.

Global Hybrid Vehicle Market summary

Market Trends, Drivers, Restraints, and Opportunities:

  • Increasing awareness among the masses regarding vehicle emissions and strict government policies to curb carbon emission are fueling the market growth.
  • Government encouragement and initiatives focused on fuel efficiency and fuel economy are likely to have a positive impact on the market in the coming years.
  • Rising demand for battery electric vehicles (BEV) and fuel cell electric vehicles (FCEV) present major restraints that are expected to hinder the growth of the market during the forecast period.
  • High cost of the vehicle types due to high price of batteries and other systems act as key challenges that can hamper the market growth during the projected period.
  • Rapid growth in the market in developing countries due to certain advantages such as incentives in sales and manufacturing, tax rebates, and increased focus on deploying hybrid commercial vehicles are offering immense opportunities for market expansion in the near future.

Scope of the report:

The report on the global hybrid vehicle market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Hybrid Vehicle Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Degrees of Hybridization (Micro Hybrid, Mild Hybrid, and Full Hybrid), Propulsion (HEV, PHEV, and NGV), Electric Powertrain Types (Parallel Hybrid and Series Hybrid)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

Toyota Motor Corp.; Nissan Motor Corp.; Honda Motor Company, Ltd.; Kia Corp.; and Koenigsegg Automotive AB

Hybrid Vehicle Market Segment Insights:

Full hybrid segment is expected to account for a substantial market share

In terms of degrees of hybridization, the market is segregated into micro hybrid, mild hybrid, and full hybrid. The full hybrid segment is expected to account for a substantial market share during the forecast period owing to certain advantages such as improving fuel efficiency and reduced emission due to continuous technology upgrades. Moreover, massive R&D programs to ensure higher performance of the hybridization types present another major drivers of the segment.

HEV segment is estimated to hold a large market share

Based on propulsion, the global hybrid vehicle market is segmented into HEV, PHEV, and NGV. The HEV segment is estimated to hold a large market share during the forecast period owing to an increasing market for HEV due to high sales in major economies such as the US, Japan, and China. Moreover, governments in developing countries including Mexico, India, and Brazil are encouraging their people to use hybrid vehicles to cope with the increasing emissions. These vehicles are inexpensive compared to plug-in hybrid electric vehicles (PHEVs) and electric vehicles (EVs). Additionally, HEV has a substantial market share compared to other eco-friendly vehicles such as natural gas vehicles and PHEV, due to the better fuel efficiency that HEV offers.

Advancement in technology drives the parallel hybrid segment growth

Based on electric powertrain types, the market is bifurcated into parallel hybrid and series hybrid. The parallel hybrid segment is projected to register a robust growth rate during the forecast period owing to certain advantages such as advancement in technology such as automations and regenerative braking systems.

Asia Pacific is expected to constitute a major market share

On the basis of regions, the global hybrid vehicle market is classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. The market of Asia Pacific is expected to constitute a large market share during the forecast period. The regional market growth is attributed to favorable government policies, rapid advancement in technology, as well as rising disposable income of a large number of the population in the region.

Global Hybrid Vehicle Market region

Segments

Segments Covered in the Report
By Degrees of Hybridization

  • Micro Hybrid
  • Mid Hybrid
  • Full Hybrid

By Propulsion

  • HEV
  • PHEV
  • NGV

By Electric Powertrain Types

  • Parallel Hybrid
  • Series Hybrid

By Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

By Key Players

  • Toyota Motor Corp.
  • Nissan Motor Corp.
  • Honda Motor Company, Ltd.
  • Kia Corp.
  • Koenigsegg Automotive AB

 

Competitive Landscape

Key players in the global hybrid vehicle market are Toyota Motor Corp.; Nissan Motor Corp.; Honda Motor Company, Ltd.; Kia Corp.; and Koenigsegg Automotive AB. These players are widely engaged in several business development strategies including mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Global Hybrid Vehicle Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Hybrid Vehicle Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Hybrid Vehicle Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Hybrid Vehicle Market - Supply Chain
  4.5. Global Hybrid Vehicle Market Forecast
     4.5.1. Hybrid Vehicle Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Hybrid Vehicle Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Hybrid Vehicle Market Absolute $ Opportunity
5. Global Hybrid Vehicle Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Hybrid Vehicle Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Hybrid Vehicle Demand Share Forecast, 2019-2026
6. North America Hybrid Vehicle Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Hybrid Vehicle Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Hybrid Vehicle Demand Share Forecast, 2019-2026
7. Latin America Hybrid Vehicle Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Hybrid Vehicle Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Hybrid Vehicle Demand Share Forecast, 2019-2026
8. Europe Hybrid Vehicle Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Hybrid Vehicle Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Hybrid Vehicle Demand Share Forecast, 2019-2026
9. Asia Pacific Hybrid Vehicle Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Hybrid Vehicle Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Hybrid Vehicle Demand Share Forecast, 2019-2026
10. Middle East & Africa Hybrid Vehicle Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Hybrid Vehicle Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Hybrid Vehicle Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Hybrid Vehicle Market: Market Share Analysis
  11.2. Hybrid Vehicle Distributors and Customers
  11.3. Hybrid Vehicle Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Toyota Motor Corp.
     11.4.2. Nissan Motor Corp.
     11.4.3. Honda Motor Company, Ltd.
     11.4.4. Kia Corp.
     11.4.5. Koenigsegg Automotive AB

Segments Covered in the Report
By Degrees of Hybridization

  • Micro Hybrid
  • Mid Hybrid
  • Full Hybrid

By Propulsion

  • HEV
  • PHEV
  • NGV

By Electric Powertrain Types

  • Parallel Hybrid
  • Series Hybrid

By Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

By Key Players

  • Toyota Motor Corp.
  • Nissan Motor Corp.
  • Honda Motor Company, Ltd.
  • Kia Corp.
  • Koenigsegg Automotive AB

 

Key players in the global hybrid vehicle market are Toyota Motor Corp.; Nissan Motor Corp.; Honda Motor Company, Ltd.; Kia Corp.; and Koenigsegg Automotive AB. These players are widely engaged in several business development strategies including mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Global Hybrid Vehicle Market keyplayers

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