Hybrid Electric Vehicles Market
Hybrid Electric Vehicles Market Analysis By Power Source (Stored Electricity HEVs, On-Board Electric Generator HEVs), By Powertrain (Series, Parallel, Combined Hybrid Electric Vehicles), By Vehicle & By Region - Global Market Insights 2021-2031
Analysis of Hybrid Electric Vehicles market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Hybrid Electric Vehicles Market Outlook (2021-2031)
The global hybrid electric vehicles market size is anticipated to showcase a stellar growth trajectory registering a CAGR of over 14% over the forecast period 2021-2031, according to Fact.MR. Gasoline hybrid vehicles are projected to surpass a value of over US$ 100 Million by 2031.
By 2021, the market is projected to reach US$ 29 Billion. Growth is majorly stimulated by an overall tilt towards fuel-efficient automobiles with the objective of alleviating environmental costs associated with fossil fuel consumption.
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Report Attributes |
Details |
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Forecast Period |
2021-2031 |
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Historical Data Available for |
2016-2020 |
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Key Companies Profiled |
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Know thy Competitors
Competitive landscape highlights only certain players
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Consumption Analysis of Hybrid Electric Vehicles from 2016-2020 Vs Market Outlook for 2021 to 2031
As per Fact.MR – market research and competitive intelligence provider, from 2016 to 2020, the global hybrid electric vehicles market expanded at a CAGR worth 9% to reach a high valuation.
Hybrid electric vehicles come with a variety of benefits like reduced operational and maintenance costs and less pollution. With technological breakthroughs, the portfolio for electric vehicles is ever-expanding with many consumers in different regions preferring to go in for fully hybrid or mild hybrid vehicles.
Thus, considering these factors, the market for hybrid electric vehicles is projected to witness immense growth, registering nearly 14% CAGR through the 2021-2031 assessment period.
How are Power-Split and Gasoline Powered Hybrid Electric Vehicles Acquiring Traction?
Amongst all hybrid vehicle architectures, the power-split hybrid electric vehicles (PS-HEVs) have been proven to be the most efficient and are projected to hold a majority of the global hybrid vehicles market revenue share.
Gasoline hybrid vehicles are favored over diesel hybrid vehicles due to improved performance, high fuel efficiency, and low tailpipe emissions. A vehicle uses only a small fraction of the energy available in gasoline to operate.
Gasoline is the dominant transportation fuel in the United States. On an energy content basis, finished motor gasoline accounted for 62% of total U.S. transportation energy use in 2020, while distillate fuels, mostly diesel, accounted for 24%, and jet fuel accounted for 10%.
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How are the Algorithmic Trends Stepping up Fuel Efficiency in Hybrid Electric Vehicles?
Newer and smarter algorithms are all set to revolutionize the fuel efficiency of hybrid electric vehicles. Owing to these trends, hybrid electric vehicles will capture a large market share of around US$ 29 Bn in the year 2021.
Hybrid electric vehicles are largely dependent on an energy management system that helps them to maintain an equilibrium between the electric motor and the internal combustion engine. Many new universities are now pioneering algorithms to help achieve this objective.
Technical teams at several universities are developing highly nuanced algorithms that can calculate the energy consumption of a hybrid vehicle in a very optimal manner.
For instance, a team at the Technical University of Dresden developed a new algorithm that could calculate optimal energy use up to one hundred thousand times faster than systems in use today. According to researchers, this method could increase fuel efficiency by as much as 50%.
This would help to enhance fuel efficiency by at least 50% thus bolstering the demand for hybrid electric vehicles during the forecast period. Since these algorithms have been found to be highly complex, future research will focus on reducing the computational effort of these algorithms. This will improve drivability.
How are Refillable Batteries Generating Opportunities for HEV Sales?
Hybrid electric vehicles induce considerable anxiety amongst motorists due to the limited availability of charging stations and range limitations. This can now be offset with scientists working on refillable or flow batteries that can be refueled in minutes at any gas station.
In April 2021, BYD announced the launch of 4 new electric vehicles equipped with an ultra-safe battery technology developed by the company itself. Pure electric vehicles come with blade batteries. The brand has always ensured the safety offered by its batteries by conducting various safety standard tests and thereafter installing them in their vehicles.
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What Potential Do the Innovative Technology Fluids Hold?
Key market players are rushing to reach the finish line by innovating a broad line of fluids and lubricants for the electric and hybrid-electric fleet of cars.
For instance, Total is massively consolidating its position by introducing a range of fluids that are specially designed for electric and hybrid vehicles. Total’s research and development teams are all geared up to meet the cooling and lubrication needs of these modern and differently-abled engines.
This is done to ensure that they maintain their peak condition throughout the engine’s lifecycle. Their new product line consists of an eclectic mix such as Total Quartz EV fluid and Total Rubia EV fluid for a wide range of hybrid and electric vehicles.
These dynamic fluids help to fulfill myriad applications such as boosting dielectric properties of the engine, compatibility with new electric components, lubrication for transmission, and a solution for temperature constraints.
In addition to this, in July 2021, TotalEnergies and Technip Energies signed a Technical Cooperation Agreement to jointly develop low-carbon solutions for Liquefied Natural Gas (LNG) production and offshore facilities to accelerate the energy transition.
Country-Wise Analysis
What is the Growth Outlook for Hybrid Electric Vehicles in India?
India is expected to remain lucrative during the forecast period owing to the presence of industry giants, rapid urbanization, and government initiatives. A market share worth 20% is projected for the Indian market in the forthcoming decade.
The Government of India announced the imposition of Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles (FAME) in October 2019. As part of Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles (FAME), the Indian government announced the acquisition of 7,000 electric buses, 55k four-wheelers, and 10,00,000 two-wheelers.
What is Bolstering the Market in the U.S?
The U.S will witness major growth as the research and development in the region have made way for significant uptakes in infrastructure, costs, and product innovation. A CAGR of 7% is projected for the region through 2031.
In April 2021 President Biden announced that he wants 50 percent of all new cars sold in the United States in 2030 to be an all-electric, plug-in hybrid, or hydrogen-powered.
In addition to this, he also announced that he will sign an executive order that tasks the Environmental Protection Agency (EPA) and National Highway Traffic Safety Administration (NHTSA) to develop aggressive long-term rules to support his 2030 target, ones that include medium and heavy-duty vehicles as well.
How is Europe Emerging as an Attractive Market for HEVs?
The European region is projected to be the largest revenue contributor to the global market for hybrid electric vehicles through 2031, emerging as one of the frontrunners, capturing a significant market share of nearly 16% by the end of the forecast period.
Many countries in Europe have affiliated themselves with a project known as ECOCHAMPS. The challenge taken up by the ECOCHAMPS consortium of 26 partners is to gain a leading position in hybrid powertrain technology. Extending the use of this technology will significantly reduce CO2 emissions from road transport and have a positive effect on air quality.
With improved functionalities, users will have a lot of flexibility and the introduction of hybrid electric vehicles in the European market space would become easier. Moreover, according to the Federal Motor Transport Authority (KBA), sales of full-electric vehicles in Germany increased three-fold to 194,163 units in 2020.
Category-Wise Analysis
How is the Passenger Cars Segment Performing?
According to International Energy Agency (IEA), electric vehicles will make 40% of all passenger vehicles by 2040. The estimation may not be surprising as electric vehicle makers like Tesla have already made a foray into new areas that serve the urban transportation demands like taxis.
Most prominently, the hybrid vehicles market registers demand from vehicle types such as passenger cars, light commercial vehicles, and heavy commercial vehicles. Nearly 2/5th of total HEV sales will comprise of passenger cars.
Competitive Landscape
The global hybrid electric vehicles market is highly competitive in nature. Amid the growing competition in the hybrid electric vehicles market, leading players are focusing on strengthening their market position and gaining traction in the competitive global market.
- In April 2021, Ford Motor Company launched Mustang Mach-E SUV which has comfortably outfitted interior, seamless technology, and impressive range. This model is home to one truly iconic design paired with luxurious materials and standard driver-assist technologies like Ford Co-Pilot360™ 2.0.
- In July 2021, TotalEnergies signed a contract with Bolloré Group for the acquisition of ‘Blue Charge’. Upon the approval of the relevant authorities, TotalEnergies will manage and operate the largest electric vehicle charging network in Singapore, with more than 1,500 charge points installed in the city-state.
- This urban charging network represents around 85% of the charge points currently under operation in Singapore, access to electric vehicles owners as well as to the car sharing solution BlueSG.
Key Segments Covered
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By Power Source :
- Stored Electricity HEVs
- On-Board Electric Generator HEVs
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By Powertrain :
- Series
- Parallel
- Combined
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By Vehicle :
- Hybrid Electric Passenger Cars
- Commercial Hybrid Electric Vehicles
- Hybrid Electric Two Wheelers
- Other HEVs (Golf Cart, etc.)
Table of Content
1. Global Hybrid Electric Vehicles Market - Executive Summary 1.1. Global Market Overview 1.2. Global Hybrid Electric Vehicles Market – Regional Overview 1.3. Global Hybrid Electric Vehicles Market – Opportunity Assessment 1.4. Mega Trends in Hybrid Electric Vehicles Market 1.5. Fact.MR Analysis 2. Global Hybrid Electric Vehicles Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Introduction and Definition 3. Market Background 3.1. Macro - Economic Factors 3.2. Global GDP Growth Outlook 3.3. Global Automotive Industry Outlook 3.4. Global Electric Vehicles Industry Scenario 3.5. Global Automotive Production Share by Manufacturers 3.6. Supply Chain Analysis 3.7. Forecast Factors: Relevance and Impact 3.8. Market Dynamics 3.8.1. Drivers 3.8.2. Restraints 3.8.3. Opportunity Analysis 4. Global Hybrid Electric Vehicles Market – Price Point Analysis 4.1. Price Point Assessment by Region and Power Source 4.2. Price Forecast till 2031 5. Global Hybrid Electric Vehicles Market Demand (US$ Mn) Analysis 2016-2020 and Forecast, 2021-2031 5.1. Historical Market Value (US$ Mn) Analysis, 2016-2020 5.2. Current and Future Market Value (US$ Mn) Projections, 2021-2031 5.2.1. Y-o-Y Growth Trend Analysis 5.2.2. Absolute $ Opportunity Analysis 6. Global Hybrid Electric Vehicles Market Analysis 2016-2020 and Forecast 2021-2031, By Power Source 6.1. Introduction / Key Findings 6.2. Historical Market Size (US$ Mn) Analysis By Power Source, 2016 - 2020 6.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Power Source, 2021 - 2031 6.3.1. Stored Electricity 6.3.2. On Board Electric Generator 6.4. Market Attractiveness Analysis By Power Source 7. Global Hybrid Electric Vehicles Market Analysis 2016-2020 and Forecast 2021-2031, by Powertrain 7.1. Historical Market Size (US$ Mn) Analysis By Powertrain, 2016 - 2020 7.2. Current and Future Market Size (US$ Mn) Analysis and Forecast By Powertrain, 2021 - 2031 7.2.1. Series Hybrid 7.2.2. Parallel Hybrid 7.2.3. Combined Hybrid 7.3. Market Attractiveness Analysis By Powertrain 8. Global Hybrid Electric Vehicles Market Analysis 2016-2020 and Forecast 2021-2031, by Vehicle Type 8.1. Historical Market Size (US$ Mn) Analysis By Vehicle Type, 2016 - 2020 8.2. Current and Future Market Size (US$ Mn) Analysis and Forecast By Vehicle Type, 2021 - 2031 8.2.1. Passenger Cars 8.2.2. Commercial Vehicles 8.2.3. Two Wheelers 8.2.4. Others (Golf Cart etc.) 8.3. Market Attractiveness Analysis By Vehicle Type 9. Global Hybrid Electric Vehicles Market Analysis 2016-2020 and Forecast 2021-2031, by Region 9.1. Historical Market Size (US$ Mn) Analysis By Region, 2016 - 2020 9.2. Current Market Size (US$ Mn) Analysis and Forecast By Region, 2021 - 2031 9.2.1. North America 9.2.2. Latin America 9.2.3. Europe 9.2.4. Japan 9.2.5. APEJ 9.2.6. Middle East and Africa (MEA) 9.3. Market Attractiveness Analysis By Region 10. North America Hybrid Electric Vehicles Market Analysis 2016-2020 and Forecast 2021-2031 10.1. Introduction 10.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2016 - 2020 10.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2021 - 2031 10.3.1. By Country 10.3.1.1. U.S. 10.3.1.2. Canada 10.3.2. By Power Source 10.3.3. By Powertrain 10.3.4. By Vehicle Type 10.4. Market Attractiveness Analysis 10.4.1. By Country 10.4.2. By Power Source 10.4.3. By Powertrain 10.4.4. By Vehicle Type 11. Latin America Hybrid Electric Vehicles Market Analysis 2016-2020 and Forecast 2021-2031 11.1. Introduction 11.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2016 - 2020 11.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2021 - 2031 11.3.1. By Country 11.3.1.1. Brazil 11.3.1.2. Mexico 11.3.1.3. Argentina 11.3.2. By Power Source 11.3.3. By Powertrain 11.3.4. By Vehicle Type 11.4. Market Attractiveness Analysis 11.4.1. By Country 11.4.2. By Power Source 11.4.3. By Powertrain 11.4.4. By Vehicle Type 12. Europe Hybrid Electric Vehicles Market Analysis 2016-2020 and Forecast 2021-2031 12.1. Introduction 12.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2016 - 2020 12.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2021 - 2031 12.3.1. By Country 12.3.1.1. Germany 12.3.1.2. UK 12.3.1.3. Spain 12.3.1.4. France 12.3.1.5. Italy 12.3.1.6. Rest of Europe 12.3.2. By Power Source 12.3.3. By Powertrain 12.3.4. By Vehicle Type 12.4. Market Attractiveness Analysis 12.4.1. By Country 12.4.2. By Power Source 12.4.3. By Powertrain 12.4.4. By Vehicle Type 13. Japan Hybrid Electric Vehicles Market Analysis 2016-2020 and Forecast 2021-2031 13.1. Introduction 13.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2016 - 2020 13.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2021 - 2031 13.3.1. By Power Source 13.3.2. By Powertrain 13.3.3. By Vehicle Type 13.4. Market Attractiveness Analysis 13.4.1. By Power Source 13.4.2. By Powertrain 13.4.3. By Vehicle Type 14. APEJ Hybrid Electric Vehicles Market Analysis 2016-2020 and Forecast 2021-2031 14.1. Introduction 14.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2016 - 2020 14.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2021 - 2031 14.3.1. By Country 14.3.1.1. China 14.3.1.2. India 14.3.1.3. Australia 14.3.1.4. Thailand 14.3.1.5. Singapore 14.3.1.6. Malaysia 14.3.2. By Power Source 14.3.3. By Powertrain 14.3.4. By Vehicle Type 14.4. Market Attractiveness Analysis 14.4.1. By Country 14.4.2. By Power Source 14.4.3. By Powertrain 14.4.4. By Vehicle Type 15. Middle East and Africa Hybrid Electric Vehicles Market Analysis 2016-2020 and Forecast 2021-2031 15.1. Introduction 15.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2016 - 2020 15.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2021 - 2031 15.3.1. By Country 15.3.1.1. GCC Countries 15.3.1.2. South Africa 15.3.1.3. Nigeria 15.3.1.4. Israel 15.3.2. By Power Source 15.3.3. By Powertrain 15.3.4. By Vehicle Type 15.4. Market Attractiveness Analysis 15.4.1. By Country 15.4.2. By Power Source 15.4.3. By Powertrain 15.4.4. By Vehicle Type 16. Market Structure Analysis 16.1. Global Hybrid Electric Vehicles Market - A Dashboard View 16.2. Global Hybrid Electric Vehicles - Industry Structure 16.3. Global Hybrid Electric Vehicles Market Company Share Analysis 17. Company Profiles 17.1. Nissan Motor Corporation Ltd. 17.1.1. Company Overview 17.1.2. Product overview 17.1.3. SWOT Analysis 17.1.4. Key Developments 17.2. Bayerische Motoren Werke AG 17.2.1. Company Overview 17.2.2. Product overview 17.2.3. SWOT Analysis 17.2.4. Key Developments 17.3. Honda Motor Co., Ltd. 17.3.1. Company Overview 17.3.2. Product overview 17.3.3. SWOT Analysis 17.3.4. Key Developments 17.4. Mitsubishi Motors Corporation 17.4.1. Company Overview 17.4.2. Product overview 17.4.3. SWOT Analysis 17.4.4. Key Developments 17.5. Toyota Motor Corporation 17.5.1. Company Overview 17.5.2. Product overview 17.5.3. SWOT Analysis 17.5.4. Key Developments 17.6. Volkswagen AG 17.6.1. Company Overview 17.6.2. Product overview 17.6.3. SWOT Analysis 17.6.4. Key Developments 17.7. Groupe Renault 17.7.1. Company Overview 17.7.2. Product overview 17.7.3. SWOT Analysis 17.7.4. Key Developments 17.8. Ford Motor Company 17.8.1. Company Overview 17.8.2. Product overview 17.8.3. SWOT Analysis 17.8.4. Key Developments 17.9. Daimler AG 17.9.1. Company Overview 17.9.2. Product overview 17.9.3. SWOT Analysis 17.9.4. Key Developments 17.10. General Motors Company 17.10.1. Company Overview 17.10.2. Product overview 17.10.3. SWOT Analysis 17.10.4. Key Developments 18. Research Methodology
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List Of Table
Table 1: Global Hybrid Electric Vehicles Market Value (US$ Mn), by Railcar Type (2016 – 2031)
Table 2: Global Hybrid Electric Vehicles Market Value (US$ Mn), by End Use (2016 – 2031)
Table 3: Global Hybrid Electric Vehicles Market Value (US$ Mn), by Region (2016 – 2031)
Table 4: North America Hybrid Electric Vehicles Market Value (US$ Mn), by Power Source (2016 – 2031)
Table 5: North America Hybrid Electric Vehicles Market Value (US$ Mn), by Powertrain (2016 – 2031)
Table 6: North America Hybrid Electric Vehicles Market Value (US$ Mn), by Vehicle Type (2016 – 2031)
Table 7: North America Hybrid Electric Vehicles Market Value (US$ Mn), by Country (2016 – 2031)
Table 8: Latin America Hybrid Electric Vehicles Market Value (US$ Mn), by Power Source (2016 – 2031)
Table 9: Latin America Hybrid Electric Vehicles Market Value (US$ Mn), by Powertrain (2016 – 2031)
Table 10: Latin America Hybrid Electric Vehicles Market Value (US$ Mn), by Vehicle Type (2016 – 2031)
Table 11: Latin America Hybrid Electric Vehicles Market Value (US$ Mn), by Country (2016 – 2031)
Table 12: Europe Hybrid Electric Vehicles Market Value (US$ Mn), by Power Source (2016 – 2031)
Table 13: Europe Hybrid Electric Vehicles Market Value (US$ Mn), by Powertrain (2016 – 2031)
Table 14: Europe Hybrid Electric Vehicles Market Value (US$ Mn), by Vehicle Type (2016 – 2031)
Table 15: Europe Hybrid Electric Vehicles Market Value (US$ Mn), by Country (2016 – 2031)
Table 16: Japan Hybrid Electric Vehicles Market Value (US$ Mn), by Power Source (2016 – 2031)
Table 17: Japan Hybrid Electric Vehicles Market Value (US$ Mn), by Powertrain (2016 – 2031)
Table 18: Japan Hybrid Electric Vehicles Market Value (US$ Mn), by Vehicle Type (2016 – 2031)
Table 19: Japan Hybrid Electric Vehicles Market Value (US$ Mn), by Country (2016 – 2031)
Table 20: APEJ Hybrid Electric Vehicles Market Value (US$ Mn), by Power Source (2016 – 2031)
Table 21: APEJ Hybrid Electric Vehicles Market Value (US$ Mn), by Powertrain (2016 – 2031)
Table 22: APEJ Hybrid Electric Vehicles Market Value (US$ Mn), by Vehicle Type (2016 – 2031)
Table 23: APEJ Hybrid Electric Vehicles Market Value (US$ Mn), by Country (2016 – 2031)
Table 24: MEA Hybrid Electric Vehicles Market Value (US$ Mn), by Power Source (2016 – 2031)
Table 25: MEA Hybrid Electric Vehicles Market Value (US$ Mn), by Powertrain (2016 – 2031)
Table 26: MEA Hybrid Electric Vehicles Market Value (US$ Mn), by Vehicle Type (2016 – 2031)
Table 27: MEA Hybrid Electric Vehicles Market Value (US$ Mn), by Country (2016 – 2031)
Table 28: North America Hybrid Electric Vehicles Market Value (US$ Mn), by Power Source (2016 – 2031)
Table 29: North America Hybrid Electric Vehicles Market Value (US$ Mn), by Powertrain (2016 – 2031)
Table 30: North America Hybrid Electric Vehicles Market Value (US$ Mn), by Vehicle Type (2016 – 2031)
Table 31: North America Hybrid Electric Vehicles Market Value (US$ Mn), by Country (2016 – 2031)
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List Of Figures
Figure 1: Global Hybrid Electric Vehicles Market Size and Y-o-Y Growth, 2016 - 2031
Figure 2: Global Hybrid Electric Vehicles Market Opportunity Index, 2021–2031
Figure 3: Global Hybrid Electric Vehicles Market Share Analysis by Power Source - 2021 & 2031
Figure 4: Global Hybrid Electric Vehicles Market Y-o-Y Growth, by Power Source (2021 – 2031)
Figure 5: Global Hybrid Electric Vehicles Market Attractiveness Analysis, by Power Source (2021 – 2031)
Figure 6: Global Hybrid Electric Vehicles Market Share Analysis by Powertrain - 2021 & 2031
Figure 7: Global Hybrid Electric Vehicles Market Y-o-Y Growth, by Powertrain (2021 – 2031)
Figure 8: Global Hybrid Electric Vehicles Market Attractiveness Analysis, by Powertrain (2021 – 2031)
Figure 9: Global Hybrid Electric Vehicles Market Share Analysis by Vehicle Type - 2021 & 2031
Figure 10: Global Hybrid Electric Vehicles Market Y-o-Y Growth, by Vehicle Type (2021 – 2031)
Figure 11: Global Hybrid Electric Vehicles Market Attractiveness Analysis, by Vehicle Type (2021 – 2031)
Figure 12: Global Hybrid Electric Vehicles Market Share Analysis by Region - 2021 & 2031
Figure 13: Global Hybrid Electric Vehicles Market Y-o-Y Growth, by Region (2021 – 2031)
Figure 14: Global Hybrid Electric Vehicles Market Attractiveness Analysis, by Region (2021 – 2031)
Figure 15: North America Hybrid Electric Vehicles Market Share Analysis by Country - 2021 & 2031
Figure 16: North America Hybrid Electric Vehicles Market Y-o-Y Growth, by Country (2021 – 2031)
Figure 17: North America Hybrid Electric Vehicles Market Attractiveness Analysis, by Country (2021 – 2031)
Figure 18: North America Hybrid Electric Vehicles Market Share Analysis by Power Source - 2021 & 2031
Figure 19: North America Hybrid Electric Vehicles Market Y-o-Y Growth, by Power Source (2021 – 2031)
Figure 20: North America Hybrid Electric Vehicles Market Attractiveness Analysis, by Power Source (2021 – 2031)
Figure 21: North America Hybrid Electric Vehicles Market Share Analysis by Powertrain - 2021 & 2031
Figure 22: North America Hybrid Electric Vehicles Market Y-o-Y Growth, by Powertrain (2021 – 2031)
Figure 23: North America Hybrid Electric Vehicles Market Attractiveness Analysis, by Powertrain (2021 – 2031)
Figure 24: North America Hybrid Electric Vehicles Market Share Analysis by Vehicle Type - 2021 & 2031
Figure 25: North America Hybrid Electric Vehicles Market Y-o-Y Growth, by Vehicle Type (2021 – 2031)
Figure 26: North America Hybrid Electric Vehicles Market Attractiveness Analysis, by Vehicle Type (2021 – 2031)
Figure 27: Latin America Hybrid Electric Vehicles Market Share Analysis by Country - 2021 & 2031
Figure 28: Latin America Hybrid Electric Vehicles Market Y-o-Y Growth, by Country (2021 – 2031)
Figure 29: Latin America Hybrid Electric Vehicles Market Attractiveness Analysis, by Country (2021 – 2031)
Figure 30: Latin America Hybrid Electric Vehicles Market Share Analysis by Power Source - 2021 & 2031
Figure 31: Latin America Hybrid Electric Vehicles Market Y-o-Y Growth, by Power Source (2021 – 2031)
Figure 32: Latin America Hybrid Electric Vehicles Market Attractiveness Analysis, by Power Source (2021 – 2031)
Figure 33: Latin America Hybrid Electric Vehicles Market Share Analysis by Powertrain - 2021 & 2031
Figure 34: Latin America Hybrid Electric Vehicles Market Y-o-Y Growth, by Powertrain (2021 – 2031)
Figure 35: Latin America Hybrid Electric Vehicles Market Attractiveness Analysis, by Powertrain (2021 – 2031)
Figure 36: Latin America Hybrid Electric Vehicles Market Share Analysis by Vehicle Type - 2021 & 2031
Figure 37: Latin America Hybrid Electric Vehicles Market Y-o-Y Growth, by Vehicle Type (2021 – 2031)
Figure 38: Latin America Hybrid Electric Vehicles Market Attractiveness Analysis, by Vehicle Type (2021 – 2031)
Figure 39: Europe Hybrid Electric Vehicles Market Share Analysis by Country - 2021 & 2031
Figure 40: Europe Hybrid Electric Vehicles Market Y-o-Y Growth, by Country (2021 – 2031)
Figure 41: Europe Hybrid Electric Vehicles Market Attractiveness Analysis, by Country (2021 – 2031)
Figure 42: Europe Hybrid Electric Vehicles Market Share Analysis by Power Source - 2021 & 2031
Figure 43: Europe Hybrid Electric Vehicles Market Y-o-Y Growth, by Power Source (2021 – 2031)
Figure 44: Europe Hybrid Electric Vehicles Market Attractiveness Analysis, by Power Source (2021 – 2031)
Figure 45: Europe Hybrid Electric Vehicles Market Share Analysis by Powertrain - 2021 & 2031
Figure 46: Europe Hybrid Electric Vehicles Market Y-o-Y Growth, by Powertrain (2021 – 2031)
Figure 47: Europe Hybrid Electric Vehicles Market Attractiveness Analysis, by Powertrain (2021 – 2031)
Figure 48: Europe Hybrid Electric Vehicles Market Share Analysis by Vehicle Type - 2021 & 2031
Figure 49: Europe Hybrid Electric Vehicles Market Y-o-Y Growth, by Vehicle Type (2021 – 2031)
Figure 50: Europe Hybrid Electric Vehicles Market Attractiveness Analysis, by Vehicle Type (2021 – 2031)
Figure 51: Japan Hybrid Electric Vehicles Market Share Analysis by Country - 2021 & 2031
Figure 52: Japan Hybrid Electric Vehicles Market Y-o-Y Growth, by Country (2021 – 2031)
Figure 53: Japan Hybrid Electric Vehicles Market Attractiveness Analysis, by Country (2021 – 2031)
Figure 54: Japan Hybrid Electric Vehicles Market Share Analysis by Power Source - 2021 & 2031
Figure 55: Japan Hybrid Electric Vehicles Market Y-o-Y Growth, by Power Source (2021 – 2031)
Figure 56: Japan Hybrid Electric Vehicles Market Attractiveness Analysis, by Power Source (2021 – 2031)
Figure 57: Japan Hybrid Electric Vehicles Market Share Analysis by Powertrain - 2021 & 2031
Figure 58: Japan Hybrid Electric Vehicles Market Y-o-Y Growth, by Powertrain (2021 – 2031)
Figure 59: Japan Hybrid Electric Vehicles Market Attractiveness Analysis, by Powertrain (2021 – 2031)
Figure 60: Japan Hybrid Electric Vehicles Market Share Analysis by Vehicle Type - 2021 & 2031
Figure 61: Japan Hybrid Electric Vehicles Market Y-o-Y Growth, by Vehicle Type (2021 – 2031)
Figure 62: Japan Hybrid Electric Vehicles Market Attractiveness Analysis, by Vehicle Type (2021 – 2031)
Figure 63: APEJ Hybrid Electric Vehicles Market Share Analysis by Country - 2021 & 2031
Figure 64: APEJ Hybrid Electric Vehicles Market Y-o-Y Growth, by Country (2021 – 2031)
Figure 65: APEJ Hybrid Electric Vehicles Market Attractiveness Analysis, by Country (2021 – 2031)
Figure 66: APEJ Hybrid Electric Vehicles Market Share Analysis by Power Source - 2021 & 2031
Figure 67: APEJ Hybrid Electric Vehicles Market Y-o-Y Growth, by Power Source (2021 – 2031)
Figure 68: APEJ Hybrid Electric Vehicles Market Attractiveness Analysis, by Power Source (2021 – 2031)
Figure 69: APEJ Hybrid Electric Vehicles Market Share Analysis by Powertrain - 2021 & 2031
Figure 70: APEJ Hybrid Electric Vehicles Market Y-o-Y Growth, by Powertrain (2021 – 2031)
Figure 71: APEJ Hybrid Electric Vehicles Market Attractiveness Analysis, by Powertrain (2021 – 2031)
Figure 72: APEJ Hybrid Electric Vehicles Market Share Analysis by Vehicle Type - 2021 & 2031
Figure 73: APEJ Hybrid Electric Vehicles Market Y-o-Y Growth, by Vehicle Type (2021 – 2031)
Figure 74: APEJ Hybrid Electric Vehicles Market Attractiveness Analysis, by Vehicle Type (2021 – 2031)
Figure 75: MEA Hybrid Electric Vehicles Market Share Analysis by Country - 2021 & 2031
Figure 76: MEA Hybrid Electric Vehicles Market Y-o-Y Growth, by Country (2021 – 2031)
Figure 77: MEA Hybrid Electric Vehicles Market Attractiveness Analysis, by Country (2021 – 2031)
Figure 78: MEA Hybrid Electric Vehicles Market Share Analysis by Power Source - 2021 & 2031
Figure 79: MEA Hybrid Electric Vehicles Market Y-o-Y Growth, by Power Source (2021 – 2031)
Figure 80: MEA Hybrid Electric Vehicles Market Attractiveness Analysis, by Power Source (2021 – 2031)
Figure 81: MEA Hybrid Electric Vehicles Market Share Analysis by Powertrain - 2021 & 2031
Figure 82: MEA Hybrid Electric Vehicles Market Y-o-Y Growth, by Powertrain (2021 – 2031)
Figure 83: MEA Hybrid Electric Vehicles Market Attractiveness Analysis, by Powertrain (2021 – 2031)
Figure 84: MEA Hybrid Electric Vehicles Market Share Analysis by Vehicle Type - 2021 & 2031
Figure 85: MEA Hybrid Electric Vehicles Market Y-o-Y Growth, by Vehicle Type (2021 – 2031)
Figure 86: MEA Hybrid Electric Vehicles Market Attractiveness Analysis, by Vehicle Type (2021 – 2031)
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
How much is the global market for hybrid electric vehicles worth?
According to Fact.MR, the hybrid electric vehicles market is projected to reach US$ 29 Bn by 2021
What was the last 5 years CAGR for hybrid electric vehicles?
As per Fact.MR, sales of hybrid electric vehicles surged at a CAGR of 9% from 2016 to 2020
What is the projected growth rate for the market of hybrid electric vehicles?
According to Fact.MR, the global hybrid electric vehicles market is projected to grow at nearly 14% CAGR through 2031.
What is expected to drive future prospects for hybrid electric vehicles?
Fact.MR anticipates that the market will bolster owing to the increasing number of government initiatives to promote EV usage
What is currently driving demand for hybrid electric vehicles?
Newer and smarter algorithms to introduce various energy combinations are currently driving demand.
Which segment is likely to open up renewed expansion frontiers for the market for hybrid electric vehicles?
The passenger cars segment is likely to open new expansion frontiers, comprising 2/5th of global demand
How are growth prospects across the U.S market?
The market across the U.S is projected to be highly lucrative, growing at a CAGR of 7%
How is India contributing to the hybrid electric vehicles demand?
India is projected to be highly lucrative, expected to generate around 20% revenue
Which are the main power sources for hybrid electric vehicles?
Stored electricity and On-Board Electric generators are the main power sources for hybrid electric vehicles.
Which region is projected to be highly lucrative during the forecast period?
The European region is projected to be highly lucrative during the forecast period, accounting for a revenue share of nearly 16%
Hybrid Electric Vehicles Market