Hybrid Electric Vehicle Market- Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027, Segmented By Hybridization Type (MHEV, FHEV), By Vehicle Type (PC, LCV, M&HCV), By Powertrain (Parallel Hybrid, Series-Parallel Hybrid, Series Hybrid), By Propulsion (Diesel Hybrid, Petrol Hybrid), By Region

  • Industry : Automotive
  • Pages : 110
  • Published Date : September, 2022
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Summary

Report Description

The hybrid electric vehicle market stood around USD 290.63 billion in 2021 and is estimated to reach USD 523.74 billion in 2027, registering a CAGR of 10.60%. An increase in technological development and an upsurge in electrification of vehicles are driving the growth of the global hybrid electric vehicle market during the forecast period.

The kinetic energy is being used in the regenerative braking system of the hybrid electric vehicle. The driving vehicle converts its energy into electric energy, which is stored in the batteries. Hybrid electric vehicles also offer dual power, which can originate from the engine, the motor, or both, depending on how the vehicle is constructed. The hybrid car is cost-effective since it works on a twin-powered engine that reduces fuel consumption and saves energy. Hybrid cars are more affordable as they are supported by government tax credits and incentives. Hybrid electric vehicles are designed light weight as compared to ICE vehicles, therefore,  they use less energy. When the vehicle is idle or standing, the engine automatically shuts off and begins when the accelerator is pressed. So, more and more individuals are transitioning to hybrid cars as well and the resale value provided by hybrid electric vehicles is also very good.

The global spread of the COVID-19 pandemic has caused public health and economic challenges. Due to full and partial lockdowns enforced across several nations to reduce the risk of coronavirus transmission, most vehicle manufacturers were obliged to cease manufacturing for a few months, directly hybrid sales worldwide. According to published data from the World Bank, global GDP plummeted by 3.3% in 2020, impacting worldwide economies.

Technological Improvement in Hybrid Electric Vehicles

Due to high research expenses and concerns about general acceptance of electric vehicles, the concept was largely ignored for many years. Hybrid car demand has increased in recent years as a result of advancements in technology and the rapid growth of lithium-ion batteries. Hybrid electric vehicles technology has shown potential benefits in terms of fuel efficiency, with hybrid buses cutting fuel usage by 20-30%. The Hybrid Propulsion Program of the US Department of Energy was established in 1993 to speed up the technological development of hybrid cars. Also, the insufficient supply and rising price of gasoline is a crucial factor in the development of the technology.

Government Initiatives

Government in the United States and in different European nations are focusing on reducing emission constraints in order to reduce greenhouse gas emissions, as well as improving car fuel efficiency. The US Department of Transportation, has set CAFE (Corporate Average Fuel Economy) requirements for cars. The United Kingdom committed to a net-zero emissions target by 2050 and recommended a ban on all polluting vehicle sales by 2035. In contrast to 1990 levels, Germany wants to reduce greenhouse gas emissions by 40% by the end of 2020, 55% by the end of 2030, and up to 95% by the end of 2050, sustaining market growth.

Increased Price of the Vehicles

Compared to gasoline powertrain vehicles, the retail prices of hybrid electric vehicles in the countries are relatively high. Thi is due to high dependence on gasoline vehicles in the automotive ecosystem, from two- and four-wheelers to commercial vehicles.. The cost of hybrid electric vehicles has increased as a result of lithium-ion battery technology being used in new automobiles that need dual powertrain technology.

Recent Developments

Nissan announced in March 2021 that it was developing a mild-hybrid GT-R variant  to be launched by the end of 2022. This GT-R would be equipped with a 48-volt mild hybrid system, which would most likely be partnered with the current GT-3.8-litre R's twin-turbocharged V6 engine. GT-R R36 is rumored to be the codename. Mercedes-Benz introduced its two diesel mild hybrid vehicles, the GLE and GLE Coupé, in October 2021. They have a four-cylinder diesel engine (OM 654 M) with an integrated second-generation starter-generator (ISG) that produces 200 kW/272 horsepower. A second-generation integrated starter-generator is included in the modern OM 654 M engine (ISG). A 48-volt electrical system is included in the ISG.


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Market Segmentation

The hybrid electric vehicle market is segmented based on engine type, hybridization type, vehicle type, powertrain type, propulsion type, and region. On the basis of hybridization type, the market is segmented into MHEV and FHEV. Based on vehicle type, the market is segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. On the basis of powertrain, the market is segmented into series-parallel hybrid, parallel hybrid, series-parallel hybrid. On the basis of propulsion type, market is bifurcated into diesel and petrol. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Asia-Pacific, Europe, Americas, and the Middle East and Africa. In terms of country, the United States hybrid electric vehicle market is forecast to reach around USD 43.25 billion in 2027 from USD 26.83 billion in 2021 at a CAGR of 8.88%.

Company Profiles

Toyota Motor Corporation, Volkswagen AG, Honda Motor Co., Ltd., Nissan Motor Co., Ltd., Groupe Renault, BMW AG, Suzuki Motor Corporation, Wuling Motors Holdings Limited, AB Volvo, and The General Motors Company, are the key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.


Attribute

Details

Market Size Value in 2021

USD290.63 Billion

Revenue Forecast in 2027

USD523.74 Billion

US Revenue Forecast in 2027

USD43.25 Billion

Growth Rate

10.60%

Base Year

2021

Historical Years

2017 – 2021

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Billion, Volume in Thousand Units, and CAGR for 2017-2021 and 2022-2027

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         By Hybridization Type

·         By Vehicle Type

·         By Powertrain Type

·         By Propulsion Type

·         Region

Regional Scope

 APAC, Europe, North America, South America, Middle East and Africa

Country Scope

China, Japan, India, South Korea, Australia, Germany, France, United Kingdom, Italy, Spain, Netherland, Norway, Sweden, United States, Canada, Mexico, Brazil, Argentina, Colombia, South Africa, UAE, Saudi Arabia.

Key Companies Profiled

Toyota Motor Corporation, Volkswagen AG, Honda Motor Co., Ltd., Nissan Motor Co., Ltd., Groupe Renault, BMW AG, Suzuki Motor Corporation, Wuling Motors Holdings Limited, AB Volvo, and The General Motors Company.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, global hybrid electric vehicle market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·          Global Hybrid Electric Vehicle Market, By Hybridization Type:

    • MHEV
    • FHEV
  • Global Hybrid Electric Vehicle Market, By Vehicle Type:
    • PC
    • LCV
    • M&HCV

·         Global Hybrid Electric Vehicle Market, By Powertrain:

    • Parallel Hybrid
    • Series-Parallel Hybrid
    • Series Hybrid
  • Global Hybrid Electric Vehicle Market, By Propulsion:
    • Petrol Hybrid
    • Diesel Hybrid
  • Global Hybrid Electric Vehicle Market, By Region:
    • APAC
      • China
      • Japan
      • South Korea
      • India
      • Australia
    • Europe
      • Germany
      • Italy
      • United Kingdom
      • France
      • Spain
      • Netherland
      • Sweden
      • Norway
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East and Africa
      • UAE
      • Saudi Arabia
      • South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global hybrid electric vehicle market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Table of content

1.     Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Impact of COVID-19 on Global Hybrid Electric Vehicle Market

5.    Voice of Customers

5.1.1.     Factors Influencing Purchase Decision

5.1.2.     Brand Recall

5.1.3.     Brand Satisfaction Level

6.    Global Hybrid Electric Vehicle Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Hybridization Type (MHEV, FHEV)

6.2.2.     By Vehicle Type (PC, LCV, M&HCV)

6.2.3.     By Powertrain Type (Series-Parallel Hybrid, Parallel Hybrid, Series-Parallel Hybrid)

6.2.4.     By Propulsion Type (Diesel Hybrid, Petrol Hybrid)

6.2.5.     By Region

6.2.6.     By Company (2021)

6.3.  Product Market Map (By Hybridization Type, By Vehicle Type, By Powertrain Type, By Propulsion Type, By Region)

7.    Asia-Pacific Hybrid Electric Vehicle Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Hybridization Type

7.2.2.     By Vehicle Type

7.2.3.     By Powertrain Type

7.2.4.     By Propulsion Type

7.2.5.     By Country

7.3.  Market Map (By Vehicle Type, By Country)

7.3.1.     China Hybrid Electric Vehicle Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value & Volume

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Hybridization Type

7.3.1.2.2.             By Vehicle Type

7.3.1.2.3.             By Powertrain Type

7.3.1.2.4.             By Propulsion Type

7.3.2.     Japan Hybrid Electric Vehicle Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value & Volume

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Hybridization Type

7.3.2.2.2.             By Vehicle Type

7.3.2.2.3.             By Powertrain Type

7.3.2.2.4.             By Propulsion Type

7.3.3.     South Korea Vehicle Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value & Volume

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Hybridization Type

7.3.3.2.2.             By Vehicle Type

7.3.3.2.3.             By Powertrain Type

7.3.3.2.4.             By Propulsion Type

7.3.4.     India Vehicle Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value & Volume

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Hybridization Type

7.3.4.2.2.             By Vehicle Type

7.3.4.2.3.             By Powertrain Type

7.3.4.2.4.             By Propulsion Type

7.3.5.     Australia Hybrid Electric Vehicle Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value & Volume

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Hybridization Type

7.3.5.2.2.             By Vehicle Type

7.3.5.2.3.             By Powertrain Type

7.3.5.2.4.             By Propulsion Type

8.    Europe Hybrid Electric Vehicle Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Hybridization Type

8.2.2.     By Vehicle Type

8.2.3.     By Powertrain Type

8.2.4.     By Propulsion Type

8.2.5.     By Country

8.3.  Market Map (By Vehicle Type, By Country)

8.3.1.     Germany Hybrid Electric Vehicle Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value & Volume

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Hybridization Type

8.3.1.2.2.             By Vehicle Type

8.3.1.2.3.             By Powertrain Type

8.3.1.2.4.             By Propulsion Type

8.3.2.     Italy Hybrid Electric Vehicle Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value & Volume

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Hybridization Type

8.3.2.2.2.             By Vehicle Type

8.3.2.2.3.             By Powertrain Type

8.3.2.2.4.             By Propulsion Type

8.3.3.     United Kingdom Hybrid Electric Vehicle Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value & Volume

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Hybridization Type

8.3.3.2.2.             By Vehicle Type

8.3.3.2.3.             By Powertrain Type

8.3.3.2.4.             By Propulsion Type

8.3.4.     France Hybrid Electric Vehicle Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value & Volume

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Hybridization Type

8.3.4.2.2.             By Vehicle Type

8.3.4.2.3.             By Powertrain Type

8.3.4.2.4.             By Propulsion Type

8.3.5.     Spain Hybrid Electric Vehicle Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value & Volume

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Hybridization Type

8.3.5.2.2.             By Vehicle Type

8.3.5.2.3.             By Powertrain Type

8.3.5.2.4.             By Propulsion Type

8.3.6.     Netherland Hybrid Electric Vehicle Market Outlook

8.3.6.1.         Market Size & Forecast

8.3.6.1.1.             By Value & Volume

8.3.6.2.         Market Share & Forecast

8.3.6.2.1.             By Hybridization Type

8.3.6.2.2.             By Vehicle Type

8.3.6.2.3.             By Powertrain Type

8.3.6.2.4.             By Propulsion Type

8.3.7.     Sweden Hybrid Electric Vehicle Market Outlook

8.3.7.1.         Market Size & Forecast

8.3.7.1.1.             By Value & Volume

8.3.7.2.         Market Share & Forecast

8.3.7.2.1.             By Hybridization Type

8.3.7.2.2.             By Vehicle Type

8.3.7.2.3.             By Powertrain Type

8.3.7.2.4.             By Propulsion Type

8.3.8.     Norway Hybrid Electric Vehicle Market Outlook

8.3.8.1.         Market Size & Forecast

8.3.8.1.1.             By Value & Volume

8.3.8.2.         Market Share & Forecast

8.3.8.2.1.             By Hybridization Type

8.3.8.2.2.             By Vehicle Type

8.3.8.2.3.             By Powertrain Type

8.3.8.2.4.             By Propulsion Type

9.    North America Hybrid Electric Vehicle Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Hybridization Type

9.2.2.     By Vehicle Type

9.2.3.     By Powertrain Type

9.2.4.     By Propulsion Type

9.2.5.     By Country

9.3.  Market Map (By Vehicle Type, By Country)

9.3.1.     United States Hybrid Electric Vehicle Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value & Volume

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Hybridization Type

9.3.1.2.2.             By Vehicle Type

9.3.1.2.3.             By Powertrain Type

9.3.1.2.4.             By Propulsion Type

9.3.2.     Canada Hybrid Electric Vehicle Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value & Volume

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Hybridization Type

9.3.2.2.2.             By Vehicle Type

9.3.2.2.3.             By Powertrain Type

9.3.2.2.4.             By Propulsion Type

9.3.3.     Mexico Hybrid Electric Vehicle Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value & Volume

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Hybridization Type

9.3.3.2.2.             By Vehicle Type

9.3.3.2.3.             By Powertrain Type

9.3.3.2.4.             By Propulsion Type

10.  South America Hybrid Electric Vehicle Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value & Volume

10.2.              Market Share & Forecast

10.2.1.  By Hybridization Type

10.2.2.  By Vehicle Type

10.2.3.  By Powertrain Type

10.2.4.  By Propulsion Type

10.2.5.  By Country

10.3.              Market Map (By Vehicle Type, By Country)

10.3.1.  Brazil Hybrid Electric Vehicle Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value & Volume

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Hybridization Type

10.3.1.2.2.           By Vehicle Type

10.3.1.2.3.           By Powertrain Type

10.3.1.2.4.           By Propulsion Type

10.3.2.  Argentina Hybrid Electric Vehicle Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value & Volume

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Hybridization Type

10.3.2.2.2.           By Vehicle Type

10.3.2.2.3.           By Powertrain Type

10.3.2.2.4.           By Propulsion Type

10.3.3.  Colombia Hybrid Electric Vehicle Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value & Volume

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Hybridization Type

10.3.3.2.2.           By Vehicle Type

10.3.3.2.3.           By Powertrain Type

10.3.3.2.4.           By Propulsion Type

11.  Middle East & Africa Hybrid Electric Vehicle Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value & Volume

11.2.              Market Share & Forecast

11.2.1.  By Hybridization Type

11.2.2.  By Vehicle Type

11.2.3.  By Powertrain Type

11.2.4.  By Propulsion Type

11.2.5.  By Country

11.3.              Market Map (By Vehicle Type, By Country)

11.3.1.  UAE Hybrid Electric Vehicle Market Outlook

11.3.1.1.      Market Size & Forecast

11.3.1.1.1.           By Value & Volume

11.3.1.2.      Market Share & Forecast

11.3.1.2.1.           By Hybridization Type

11.3.1.2.2.           By Vehicle Type

11.3.1.2.3.           By Powertrain Type

11.3.1.2.4.           By Propulsion Type

11.3.2.  Saudi Arabia Hybrid Electric Vehicle Market Outlook

11.3.2.1.      Market Size & Forecast

11.3.2.1.1.           By Value & Volume

11.3.2.2.      Market Share & Forecast

11.3.2.2.1.           By Hybridization Type

11.3.2.2.2.           By Vehicle Type

11.3.2.2.3.           By Powertrain Type

11.3.2.2.4.           By Propulsion Type

11.3.3.  South Africa Hybrid Electric Vehicle Market Outlook

11.3.3.1.      Market Size & Forecast

11.3.3.1.1.           By Value & Volume

11.3.3.2.      Market Share & Forecast

11.3.3.2.1.           By Hybridization Type

11.3.3.2.2.           By Vehicle Type

11.3.3.2.3.           By Powertrain Type

11.3.3.2.4.           By Propulsion Type

12. Market Dynamics

12.1.             Drivers

12.2.             Challenges

13. Market Trends and Developments

14. Competitive Landscape

14.1.             Toyota Motor Corporation

14.2.             Volkswagen AG

14.3.             Honda Motor Co., Ltd.

14.4.             Nissan Motor Co., Ltd.

14.5.             Groupe Renault

14.6.             BMW AG

14.7.             Suzuki Motor Corporation

14.8.             Wuling Motors Holdings Limited

14.9.             AB Volvo

14.10.          The General Motors Company

15. Strategic Recommendations

Figures and Tables

List of Figures

Figure1: Global Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure2: Global Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure3: Global Hybrid Electric Vehicle Market Share, By Hybridization Type, By Volume, 2017-2027F

Figure4: Global Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure5: Global Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure6: Global Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure7: Global Hybrid Electric Vehicle Market Share, By Region, By Volume, 2017-2027F

Figure8: Global Hybrid Electric Vehicle Market Share, By Company, By Value, 2021

Figure9: Global Hybrid Electric Vehicle Market Map, By Hybridization Type, Market Size (Thousand Units) & Growth Rate (%)

Figure10: Global Hybrid Electric Vehicle Market Map, By Vehicle Type, Market Size (Thousand Units) & Growth Rate (%)

Figure11: Global Hybrid Electric Vehicle Market Map, By Powertrain Type Market Size (Thousand Units) & Growth Rate (%)

Figure12: Global Hybrid Electric Vehicle Market Map, By Propulsion Type, Market Size (Thousand Units) & Growth Rate (%)

Figure13: Global Hybrid Electric Vehicle Market Map, By Region, Market Size (Thousand Units) & Growth Rate (%)

Figure14: Asia-Pacific Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure15: Asia-Pacific Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure16: Asia-Pacific Hybrid Electric Vehicle Market Share, By Hybridization Type , By Volume, 2017-2027F

Figure17: Asia-Pacific Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure18: Asia-Pacific Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure19: Asia-Pacific Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure20: Asia-Pacific Hybrid Electric Vehicle Market Share, By Country, By Volume, 2017-2027F

Figure21: Asia-Pacific Hybrid Electric Vehicle Market Map, By Hybridization Type, Market Size (Thousand Units) & Growth Rate (%)

Figure22: Asia-Pacific Hybrid Electric Vehicle Market Map, By Vehicle Type, Market Size (Thousand Units) & Growth Rate (%)

Figure23: China Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure24: China Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure25: China Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure26: China Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure27: China Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure28: China Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure29: Japan Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure30: Japan Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure31: Japan Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure32: Japan Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure33: Japan Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure34: Japan Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure35: South Korea Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure36: South Korea Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure37: South Korea Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure38: South Korea Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure39: South Korea Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure40: South Korea Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure41: India Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure42: India Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure43: India Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure44: India Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure45: India Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure46: India Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure47: Australia Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure48: Australia Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure49: Australia Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure50: Australia Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure51: Australia Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure52: Australia Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure53: Europe Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure54: Europe Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure55: Europe Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure56: Europe Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure57: Europe Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure58: Europe Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure59: Europe Hybrid Electric Vehicle Market Share, By Country, By Volume, 2017-2027F

Figure60: Europe Hybrid Electric Vehicle Market Map, By Hybridization Type, Market Size (Thousand Units) & Growth Rate (%)

Figure61: Europe Hybrid Electric Vehicle Market Map, By Vehicle Type, Market Size (Thousand Units) & Growth Rate (%)

Figure62: Germany Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure63: Germany Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure64: Germany Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure65: Germany Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure66: Germany Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure67: Germany Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure68: France Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure69: France Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure70: France Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure71: France Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure72: France Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure73: France Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure74: United Kingdom Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure75: United Kingdom Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure76: United Kingdom Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure77: United Kingdom Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure78: United Kingdom Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure79: United Kingdom Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure80: Italy Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure81: Italy Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure82: Italy Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure83: Italy Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure84: Italy Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure85: Italy Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure86: Spain Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure87: Spain Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure88: Spain Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure89: Spain Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure90: Spain Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure91: Spain Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure92: Netherland Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure93: Netherland Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure94: Netherland Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure95: Netherland Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure96: Netherland Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure97: Netherland Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure98: Norway Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure99: Norway Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure100: Norway Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure101: Norway Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure102: Norway Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure103: Norway Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure104: Sweden Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure105: Sweden Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure106: Sweden Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure107: Sweden Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure108: Sweden Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure109: Sweden Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure110: North America Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure111: North America Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure112: North America Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure113: North America Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure114: North America Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure115: North America Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure116: North America Hybrid Electric Vehicle Market Share, By Country, By Volume, 2017-2027F

Figure117: North America Hybrid Electric Vehicle Market Map, By Hybridization Type, Market Size (Thousand Units) & Growth Rate (%)

Figure118: North America Hybrid Electric Vehicle Market Map, By Vehicle Type, Market Size (Thousand Units) & Growth Rate (%)

Figure119: United States Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure120: United States Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure121: United States Hybrid Electric Vehicle Market Share, By Hybridization Type , By Volume, 2017-2027F

Figure122: United States Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure123: United States Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure124: United States Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure125: Canada Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure126: Canada Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure127: Canada Hybrid Electric Vehicle Market Share, By Hybridization Type , By Volume, 2017-2027F

Figure128: Canada Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure129: Canada Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure130: Canada Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure131: Mexico Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure132: Mexico Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure133: Mexico Hybrid Electric Vehicle Market Share, By Hybridization Type , By Volume, 2017-2027F

Figure134: Mexico Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure135: Mexico Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure136: Mexico Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure137: South America Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure138: South America Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure139: South America Hybrid Electric Vehicle Market Share, By Hybridization Type, By Volume, 2017-2027F

Figure140: South America Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure141: South America Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure142: South America Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure143: South America Hybrid Electric Vehicle Market Share, By Country, By Volume, 2017-2027F

Figure144: South America Hybrid Electric Vehicle Market Map, By Hybridization Type, Market Size (Thousand Units) & Growth Rate (%)

Figure145: Brazil Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure146: Brazil Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure147: Brazil Hybrid Electric Vehicle Market Share, By Hybridization Type , By Volume, 2017-2027F

Figure148: Brazil Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure149: Brazil Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure150: Brazil Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure151: Argentina Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure152: Argentina Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure153: Argentina Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure154: Argentina Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure155: Argentina Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure156: Argentina Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure157: Colombia Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure158: Colombia Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure159: Colombia Hybrid Electric Vehicle Market Share,By Hybridization Type, By Volume, 2017-2027F

Figure160: Colombia Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure161: Colombia Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure162: Colombia Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure163: Middle East & Africa Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure164: Middle East & Africa Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure165: Middle East & Africa Hybrid Electric Vehicle Market Share,By Hybridization Type , By Volume, 2017-2027F

Figure166: Middle East & Africa Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure167: Middle East & Africa Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure168: Middle East & Africa Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure169: Middle East & Africa Hybrid Electric Vehicle Market Share, By Country, By Volume, 2017-2027F

Figure170: Middle East & Africa Hybrid Electric Vehicle Market Map, By Hybridization Type, Market Size (Thousand Units) & Growth Rate (%)

Figure171: UAE Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure172: UAE Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure173: UAE Hybrid Electric Vehicle Market Share, By Hybridization Type , By Volume, 2017-2027F

Figure174: UAE Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure175: UAE Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure176: UAE Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure177: Saudi Arabia Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure178: Saudi Arabia Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure179: Saudi Arabia Hybrid Electric Vehicle Market Share, By Hybridization Type , By Volume, 2017-2027F

Figure180: Saudi Arabia Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure181: Saudi Arabia Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure182: Saudi Arabia Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure183: South Africa Hybrid Electric Vehicle Market Size, By Volume (Thousand Units), 2017-2027F

Figure184: South Africa Hybrid Electric Vehicle Market Size, By Value (USD Billion), 2017-2027F

Figure185: South Africa Hybrid Electric Vehicle Market Share, By Hybridization Type , By Volume, 2017-2027F

Figure186: South Africa Hybrid Electric Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure187: South Africa Hybrid Electric Vehicle Market Share, By Powertrain Type, By Volume, 2017-2027F

Figure188: South Africa Hybrid Electric Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Frequently asked questions

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Asia Pacific has a dominant share of around 60% in the global hybrid electric vehicle market because China holds the largest fleet of hybrid electric vehicles across the world.

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Advancement in propulsion technologies, development in performance and design specifications, are the major factors expected to increase in the demand for hybrid electric vehicle and result in fuelling the market growth with a CAGR of 10.60% in terms of value.

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The top 10 players in the global hybrid electric vehicle market are Toyota Motor Corporation, Volkswagen AG, Honda Motor Co., Ltd., Nissan Motor Co., Ltd., Groupe Renault, BMW AG, Suzuki Motor Corporation, Wuling Motors Holdings Limited, AB Volvo, and The General Motors Company.

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Rising adoption of pure electric vehicles and high price are the restraining factors of the global hybrid electric vehicle market.

Related Reports

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Srishti Verma

Business Consultant
Press Release

Hybrid Electric Vehicle market to register a CAGR of 9.10%, in terms of volume, until 2027

Sep, 2022

Increasing concern for environment and rise in electrification of vehicles coupled with sustained focus of the government on EV adoption, along with subsidies in manufacturing will lead to the growth

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