Hybrid Electric Vehicle Sales in United States and Opportunity Analysis
Study on Hybrid Electric Vehicles in United States by Stored Electricity and On-Board Electric Generators for Passenger Cars, Commercial Vehicles, and Two-Wheelers from 2024 to 2034
Analysis of Hybrid Electric Vehicle Industry Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Hybrid Electric Vehicle Sales Outlook for United States (2024 to 2034)
As per the latest study by Fact.MR, sales of hybrid electric vehicles in the United States are estimated at US$ 22.2 billion in 2024. The United States market is calculated to expand at a CAGR of 13.8% and reach US$ 80.87 billion by the end of 2034.
Demand for hybrid electric vehicles in the United States has been surging due to several factors such as the high need to curb carbon emissions and increase fuel efficiency. Hybrid electric vehicles combine an electric propulsion system with a conventional internal combustion engine. Presence of an electric powertrain aids in achieving better fuel economy than a conventional vehicle and also provides several other benefits such as low maintenance costs, reduced operational costs, and less pollution.
The market in the United States is witnessing technological breakthroughs with manufacturers fulfilling the demands of more people preferring fully hybrid or mild-hybrid vehicles. Thus, rising inclination toward electric vehicles and hydrogen vehicles is set to provide lucrative opportunities for key market players in the country.
- Short Term (2024 Q2 to 2027): Demand is set to increase at a fast pace on the back of the several benefits of electric vehicles as compared to conventional vehicles, such as lower fuel cost and reduced carbon emissions.
- Medium Term (2027 to 2030): The country’s commitment to reach net-zero emissions will drive demand for hybrid electric automobiles.
- Long Term (2030 to 2034): Long-term investments in electric vehicles and research & development efforts on fuel efficiency are expected to propel the market forward.
| Report Attribute | Details |
|---|---|
| Hybrid Electric Vehicle Sales in United States (2024E) | US$ 22.2 Billion |
| Forecasted Sales (2034F) | US$ 80.87 Billion |
| Demand Growth (2024 to 2034) | 13.8% CAGR |
| Commercial Hybrid Electric Vehicle Demand Growth (2024 to 2034) | 16.6% CAGR |
| Stored Electricity HEV Demand Growth (2024 to 2034) | 12.6% CAGR |
| Key Companies Profiled | Tesla Motors Inc.; Magna International Plc.; General Motors; Ford Motor Company. |
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Why are Hybrid Electric Vehicle Sales Surging across the United States?
“Electric Vehicle Benefits Promoting Adoption Rates”
- According to the United States Department of Energy, in 2022 the transportation sector in the United States accounted for nearly 30% of the total country’s energy needs and approximately 70% of the country’s petroleum consumption.
Electric vehicles aid in improving fuel economy and reducing carbon emissions. The use of energy-efficient vehicles, such as electric automobiles, can aid in supporting the economy and lead to the diversification of the transportation fleet. Several fuel sources to generate electricity are resulting in a more secure energy source for the electrified portion of the transportation sector.
In addition, hybrid electric vehicles (HEVs) use less fuel than conventional vehicles as they come with electric-drive technologies, thereby boosting vehicle efficiency via regenerative braking. These electric vehicles are capable of being powered solely by electricity.
“Integration of Digital Technologies Leading to Development of Smart and Fuel-Efficient Hybrid Electric Vehicles”
The fuel efficiency of hybrid electric vehicles is being revolutionized with the help of newer and smarter algorithms such as artificial intelligence (AI) and machine learning (ML). Electric vehicles run on an energy management system, helping them maintain an equilibrium between the internal combustion engine and the electric motor. Technical teams of market players are focused on developing highly advanced algorithms to calculate the optimum energy consumption of vehicles. Overall, this increase in fuel efficiency is anticipated to bolster demand for hybrid electric vehicles in the United States.
Why is Western United States Leading the Race in This Market?
“Supportive Local Government Policies in Western United States”
| Attribute | Western Region |
|---|---|
| Market Value (2024E) | US$ 5.73 Billion |
| Growth Rate (2024 to 2034) | 13.5% CAGR |
| Projected Value (2034F) | US$ 20.3 Billion |
The western region of the country is expected to hold a leading market share throughout the forecast period. This part of the U.S. is expected to see a significant uptake in automobile infrastructure development and product innovation due to the recent announcement by the United States government that by the end of 2030, approximately 50% of new vehicles sold will be all-electric, plug-in hybrid, or hydrogen-powered vehicles.
It was also declared by the government that the National Highway Traffic Safety Administration (NHTSA) and Environmental Protection Agency (EPA) will be tasked with developing aggressive long-term rules to support 2030 targets, including medium- and heavy-duty vehicles.
- According to the article 'Where Electric Vehicles Are (and Aren’t) Taking Off Across the U.S.', published by The New York Times on 6 March 2024, the West Coast, especially California, leads electric vehicle sales.
This data helps us understand that the registration of electric motors is higher in the western part of the United States, consequently driving overall market growth.
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Category-wise Analysis
Which Type of HEV Power Source is Most Popular?
“On-board Electric Generators Highly Effective in Electrification of Vehicles”
| Attribute | On-board Electric Generators |
|---|---|
| Segment Value (2024E) | US$ 15.68 Billion |
| Growth Rate (2024 to 2034) | 14.3% CAGR |
| Projected Value (2034F) | US$ 59.49 Billion |
Increasing shift toward electric vehicles is driving high demand for on-board electric generators. On-board electric generators provide electricity for auxiliary systems such as cooling, heating, and infotainment in traditional internal combustion engines. In HEVs on-board electric generators charge the battery or directly power the electric motor when the battery charge is depleted
Why is Demand for Hybrid Electric Passenger Cars So High?
“Cost-effectiveness and Fuel-efficiency of Hybrid Electric Passenger Cars”
| Attribute | Hybrid Electric Passenger Cars |
|---|---|
| Segment Value (2024E) | US$ 4.37 Billion |
| Growth Rate (2024 to 2034) | 14.3% CAGR |
| Projected Value (2034F) | US$ 16.67 Billion |
Rising popularity of electric motors coupled with a growing number of vehicle ownerships are contributing to the sales growth of hybrid electric passenger cars. Hybrid electric passenger cars are best for stop-and-go driving and are more popular than gasoline vehicles. Thus, cost-effective hybrid passenger cars are gaining traction in the United States.
Competitive Landscape
The United States market is in its nascent stage and is expected to surge ahead on the back of healthy investments, both from market players and the government. Along with this, rising automotive infrastructure development activities are also set to support market growth in a big way over the coming years.
Rising interest in electric vehicles driven by emission control needs is presenting lucrative opportunities for new hybrid electric vehicle manufacturers. Additionally, prominent market players are investing in research and development activities to innovate their product offerings and offer fuel-efficient hybrid vehicles.
- In April 2024, Ford Motor Co. announced the expansion of its fully hybrid vehicle offerings by 2030 and also pushed back the launch of its new three-row electric vehicles from 2025 to 2027. This strategy is estimated to help Ford remain competitive in the market.
Fact.MR provides detailed information about the price points of key manufacturers of hybrid electric vehicles positioned across the United States, sales growth, production capacity, and speculative technological expansion, in the recently updated market report.
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Segmentation of Hybrid Electric Vehicles Study in United States
-
By Power Source :
- Stored Electricity
- On-Board Electric Generators
-
By Powertrain :
- Series Hybrid Electric Vehicles
- Parallel Hybrid Electric Vehicles
- Combined Hybrid Electric Vehicles
-
By Vehicle Category :
- Passenger Cars
- Commercial Vehicles
- Two-Wheelers
- Others
-
By Region :
- Northeast
- Southeast
- West
- Southwest
- Midwest
Table of Content
1. United States Industry - Executive Summary 1.1. United States Industry Overview 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Fact.MR Analysis and Recommendations 2. United States Industry Overview 2.1. Industry Coverage / Taxonomy 2.2. Industry Introduction and Definition 3. Industry Background and Data Points 3.1. Need of the Hour for Companies 3.2. Strategic Priorities 3.3. Importance of Technology 3.4. Forecast Factors: Relevance and Impact 3.5. Investment Feasibility Matrix 3.6. PESTLE Analysis 3.7. Porter’s Five Forces Analysis 3.8. Industry Dynamics 3.8.1. Drivers 3.8.2. Restraints 3.8.3. Opportunity Analysis 3.8.4. Trends 4. United States Industry Analysis 2018 to 2023 and Forecast, 2024 to 2034 4.1. Historical Industry Value (US$ Mn) Analysis, 2018 to 2023 4.2. Current and Future Industry Value (US$ Mn) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. United States Industry Analysis 2018 to 2023 and Forecast 2024 to 2034, By Power Source 5.1. Introduction / Key Findings 5.2. Historical Industry Value (US$ Mn) Analysis By Power Source, 2018 to 2023 5.3. Current and Future Industry Value (US$ Mn) Analysis and Forecast By Power Source, 2024 to 2034 5.3.1. Stored Electricity 5.3.2. On-Board Electric Generators 5.4. Industry Attractiveness Analysis By Power Source 6. United States Industry Analysis 2018 to 2023 and Forecast 2024 to 2034, by Powertrain 6.1. Introduction / Key Findings 6.2. Historical Industry Value (US$ Mn) Analysis By Powertrain, 2018 to 2023 6.3. Current and Future Industry Value (US$ Mn) Analysis and Forecast By Powertrain, 2024 to 2034 6.3.1. Series Hybrid Electric Vehicles 6.3.2. Parallel Hybrid Electric Vehicles 6.3.3. Combined Hybrid Electric Vehicles 6.4. Industry Attractiveness Analysis By Powertrain 7. United States Industry Analysis 2018 to 2023 and Forecast 2024 to 2034, by Vehicle Category 7.1. Introduction / Key Findings 7.2. Historical Industry Value (US$ Mn) Analysis By Vehicle Category, 2018 to 2023 7.3. Current and Future Industry Value (US$ Mn) Analysis and Forecast By Vehicle Category, 2024 to 2034 7.3.1. Passenger Cars 7.3.2. Commercial Vehicles 7.3.3. Two-Wheelers 7.3.4. Others 7.4. Industry Attractiveness Analysis By Vehicle Category 8. United States Industry Analysis 2018 to 2023 and Forecast 2024 to 2034, by Region 8.1. Introduction / Key Findings 8.2. Historical Industry Value (US$ Mn) Analysis By Region, 2018 to 2023 8.3. Current and Future Industry Value (US$ Mn) Analysis and Forecast By Region, 2024 to 2034 8.3.1. Northeast 8.3.2. Southeast 8.3.3. West 8.3.4. Southwest 8.3.5. Midwest 8.4. Industry Attractiveness Analysis By Region 9. Northeast Industry Analysis 2018 to 2023 and Forecast 2024 to 2034 9.1. Introduction / Key Findings 9.2. Historical Industry Value (US$ Mn) Trend Analysis By Industry Taxonomy, 2018 to 2023 9.3. Industry Value (US$ Mn) Forecast By Industry Taxonomy, 2024 to 2034 9.3.1. By Power Source 9.3.2. By Powertrain 9.3.3. By Vehicle Category 9.4. Industry Attractiveness Analysis 9.4.1. By Power Source 9.4.2. By Powertrain 9.4.3. By Vehicle Category 10. Southeast Industry Analysis 2018 to 2023 and Forecast 2024 to 2034 10.1. Introduction / Key Findings 10.2. Historical Industry Size (US$ Mn) Trend Analysis By Industry Taxonomy, 2018 to 2023 10.3. Current and Future Industry Value (US$ Mn) Analysis and Forecast, 2024 to 2034 10.3.1. By Power Source 10.3.2. By Powertrain 10.3.3. By Vehicle Category 10.4. Industry Attractiveness Analysis 10.4.1. By Power Source 10.4.2. By Powertrain 10.4.3. By Vehicle Category 11. West Industry Analysis 2018 to 2023 and Forecast 2024 to 2034 11.1. Introduction / Key Findings 11.2. Historical Industry Size (US$ Mn) Trend Analysis By Industry Taxonomy, 2018 to 2023 11.3. Current and Future Industry Value (US$ Mn) Analysis and Forecast, 2024 to 2034 11.3.1. By Power Source 11.3.2. By Powertrain 11.3.3. By Vehicle Category 11.4. Industry Attractiveness Analysis 11.4.1. By Power Source 11.4.2. By Powertrain 11.4.3. By Vehicle Category 12. Southwest Industry Analysis 2018 to 2023 and Forecast 2024 to 2034 12.1. Introduction / Key Findings 12.2. Historical Industry Size (US$ Mn) Trend Analysis By Industry Taxonomy, 2018 to 2023 12.3. Current and Future Industry Value (US$ Mn) Analysis and Forecast, 2024 to 2034 12.3.1. By Power Source 12.3.2. By Powertrain 12.3.3. By Vehicle Category 12.4. Industry Attractiveness Analysis 12.4.1. By Power Source 12.4.2. By Powertrain 12.4.3. By Vehicle Category 13. Midwest Industry Analysis 2018 to 2023 and Forecast 2024 to 2034 13.1. Introduction / Key Findings 13.2. Historical Industry Size (US$ Mn) Trend Analysis By Industry Taxonomy, 2018 to 2023 13.3. Current and Future Industry Value (US$ Mn) Analysis and Forecast, 2024 to 2034 13.3.1. By Power Source 13.3.2. By Powertrain 13.3.3. By Vehicle Category 13.4. Industry Attractiveness Analysis 13.4.1. By Power Source 13.4.2. By Powertrain 13.4.3. By Vehicle Category 14. Industry Structure Analysis 14.1. Industry Analysis by Tier of Companies 14.2. Industry Concentration 14.3. Industry Share Analysis of Top Players 14.4. Industry Presence Analysis 15. Competition Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Competition Deep Dive 15.3.1. Tesla Motors Inc. 15.3.1.1. Company Overview 15.3.1.2. Source overview 15.3.1.3. SWOT Analysis 15.3.1.4. Key Developments 15.3.2. Magna International Plc. 15.3.2.1. Company Overview 15.3.2.2. Source overview 15.3.2.3. SWOT Analysis 15.3.2.4. Key Developments 15.3.3. General Motors 15.3.3.1. Company Overview 15.3.3.2. Source overview 15.3.3.3. SWOT Analysis 15.3.3.4. Key Developments 15.3.4. Ford Motor Company 15.3.4.1. Company Overview 15.3.4.2. Source overview 15.3.4.3. SWOT Analysis 15.3.4.4. Key Developments 16. Assumptions and Acronyms Used 17. Research Methodology
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List Of Table
Table 01: United States Industry Value (US$ Mn) Analysis, by Power Source, 2018 to 2023
Table 02: United States Industry Value (US$ Mn) Analysis, by Power Source, 2024 to 2034
Table 03: United States Industry Value (US$ Mn) Opportunity Analysis, by Power Source, 2024 to 2034
Table 04: United States Industry Value (US$ Mn) Analysis, by Powertrain, 2018 to 2023
Table 05: United States Industry Value (US$ Mn) Analysis, by Powertrain, 2024 to 2034
Table 06: United States Industry Value (US$ Mn) Opportunity Analysis, by Powertrain, 2024 to 2034
Table 07: United States Industry Value (US$ Mn) Analysis, by Vehicle Category, 2018 to 2023
Table 08: United States Industry Value (US$ Mn) Analysis, by Vehicle Category, 2024 to 2034
Table 09: United States Industry Value (US$ Mn) Opportunity Analysis, by Vehicle Category, 2024 to 2034
Table 10: United States Industry Value (US$ Mn) Analysis, by Region, 2018 to 2023
Table 11: United States Industry Value (US$ Mn) Analysis, by Region, 2024 to 2034
Table 12: United States Industry Value (US$ Mn) Opportunity Analysis, by Region, 2024 to 2034
Table 13: Northeast Industry Value (US$ Mn) Analysis, by Power Source, 2018 to 2023
Table 14: Northeast Industry Value (US$ Mn) Analysis, by Power Source, 2024 to 2034
Table 15: Northeast Industry Value (US$ Mn) Opportunity Analysis, by Power Source, 2024 to 2034
Table 16: Northeast Industry Value (US$ Mn) Analysis, by Powertrain, 2018 to 2023
Table 17: Northeast Industry Value (US$ Mn) Analysis, by Powertrain, 2024 to 2034
Table 18: Northeast Industry Value (US$ Mn) Opportunity Analysis, by Powertrain, 2024 to 2034
Table 19: Northeast Industry Value (US$ Mn) Analysis, by Vehicle Category, 2018 to 2023
Table 20: Northeast Industry Value (US$ Mn) Analysis, by Vehicle Category, 2024 to 2034
Table 21: Northeast Industry Value (US$ Mn) Opportunity Analysis, by Vehicle Category, 2024 to 2034
Table 22: Southeast Industry Value (US$ Mn) Analysis, by Power Source, 2018 to 2023
Table 23: Southeast Industry Value (US$ Mn) Analysis, by Power Source, 2024 to 2034
Table 24: Southeast Industry Value (US$ Mn) Opportunity Analysis, by Power Source, 2024 to 2034
Table 25: Southeast Industry Value (US$ Mn) Analysis, by Powertrain, 2018 to 2023
Table 26: Southeast Industry Value (US$ Mn) Analysis, by Powertrain, 2024 to 2034
Table 27: Southeast Industry Value (US$ Mn) Opportunity Analysis, by Powertrain, 2024 to 2034
Table 28: Southeast Industry Value (US$ Mn) Analysis, by Vehicle Category, 2018 to 2023
Table 29: Southeast Industry Value (US$ Mn) Analysis, by Vehicle Category, 2024 to 2034
Table 30: Southeast Industry Value (US$ Mn) Opportunity Analysis, by Vehicle Category, 2024 to 2034
Table 31: West Industry Value (US$ Mn) Analysis, by Power Source, 2018 to 2023
Table 32: West Industry Value (US$ Mn) Analysis, by Power Source, 2024 to 2034
Table 33: West Industry Value (US$ Mn) Opportunity Analysis, by Power Source, 2024 to 2034
Table 34: West Industry Value (US$ Mn) Analysis, by Powertrain, 2018 to 2023
Table 35: West Industry Value (US$ Mn) Analysis, by Powertrain, 2024 to 2034
Table 36: West Industry Value (US$ Mn) Opportunity Analysis, by Powertrain, 2024 to 2034
Table 37: West Industry Value (US$ Mn) Analysis, by Vehicle Category, 2018 to 2023
Table 38: West Industry Value (US$ Mn) Analysis, by Vehicle Category, 2024 to 2034
Table 39: West Industry Value (US$ Mn) Opportunity Analysis, by Vehicle Category, 2024 to 2034
Table 40: Southwest Industry Value (US$ Mn) Analysis, by Power Source, 2018 to 2023
Table 41: Southwest Industry Value (US$ Mn) Analysis, by Power Source, 2024 to 2034
Table 42: Southwest Industry Value (US$ Mn) Opportunity Analysis, by Power Source, 2024 to 2034
Table 43: Southwest Industry Value (US$ Mn) Analysis, by Powertrain, 2018 to 2023
Table 44: Southwest Industry Value (US$ Mn) Analysis, by Powertrain, 2024 to 2034
Table 45: Southwest Industry Value (US$ Mn) Opportunity Analysis, by Powertrain, 2024 to 2034
Table 46: Southwest Industry Value (US$ Mn) Analysis, by Vehicle Category, 2018 to 2023
Table 47: Southwest Industry Value (US$ Mn) Analysis, by Vehicle Category, 2024 to 2034
Table 48: Southwest Industry Value (US$ Mn) Opportunity Analysis, by Vehicle Category, 2024 to 2034
Table 49: Midwest Industry Value (US$ Mn) Analysis, by Power Source, 2018 to 2023
Table 50: Midwest Industry Value (US$ Mn) Analysis, by Power Source, 2024 to 2034
Table 51: Midwest Industry Value (US$ Mn) Opportunity Analysis, by Power Source, 2024 to 2034
Table 52: Midwest Industry Value (US$ Mn) Analysis, by Powertrain, 2018 to 2023
Table 53: Midwest Industry Value (US$ Mn) Analysis, by Powertrain, 2024 to 2034
Table 54: Midwest Industry Value (US$ Mn) Opportunity Analysis, by Powertrain, 2024 to 2034
Table 55: Midwest Industry Value (US$ Mn) Analysis, by Vehicle Category, 2018 to 2023
Table 56: Midwest Industry Value (US$ Mn) Analysis, by Vehicle Category, 2024 to 2034
Table 57: Midwest Industry Value (US$ Mn) Opportunity Analysis, by Vehicle Category, 2024 to 2034
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List Of Figures
Figure 01: United States Industry Value (US$ Mn) Historical Analysis, 2018 to 2023
Figure 02: United States Industry Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 03: United States Industry Value Y-o-Y Growth and Forecast, 2018 to 2034
Figure 04: United States Industry Incremental $ Opportunity, 2024 to 2034
Figure 05: United States Industry Share and BPS Analysis by Power Source, 2024 & 2034
Figure 06: United States Industry Y-o-Y Growth Projections by Power Source, 2024 to 2034
Figure 07: United States Industry Attractiveness Analysis by Power Source, 2024 to 2034
Figure 08: United States Industry Share and BPS Analysis by Powertrain, 2024 & 2034
Figure 09: United States Industry Y-o-Y Growth Projections by Powertrain, 2024 to 2034
Figure 10: United States Industry Attractiveness Analysis by Powertrain, 2024 to 2034
Figure 11: United States Industry Share and BPS Analysis by Vehicle Category, 2024 & 2034
Figure 12: United States Industry Y-o-Y Growth Projections by Vehicle Category, 2024 to 2034
Figure 13: United States Industry Attractiveness Analysis by Vehicle Category, 2024 to 2034
Figure 14: United States Industry Share and BPS Analysis by Region, 2024 & 2034
Figure 15: United States Industry Y-o-Y Growth Projections by Region, 2024 to 2034
Figure 16: United States Industry Attractiveness Analysis by Region, 2024 to 2034
Figure 17: Northeast Industry Value (US$ Mn) Historical Analysis, 2018 to 2023
Figure 18: Northeast Industry Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 19: Northeast Industry Value Y-o-Y Growth and Forecast, 2034
Figure 20: Northeast Industry Incremental $ Opportunity, 2024 to 2034
Figure 21: Northeast Industry Share and BPS Analysis by Power Source, 2024 & 2034
Figure 22: Northeast Industry Y-o-Y Growth Projections by Power Source, 2024 to 2034
Figure 23: Northeast Industry Attractiveness Analysis by Power Source, 2024 to 2034
Figure 24: Northeast Industry Share and BPS Analysis by Powertrain, 2024 & 2034
Figure 25: Northeast Industry Y-o-Y Growth Projections by Powertrain, 2024 to 2034
Figure 26: Northeast Industry Attractiveness Analysis by Powertrain, 2024 to 2034
Figure 27: Northeast Industry Share and BPS Analysis by Vehicle Category, 2024 & 2034
Figure 28: Northeast Industry Y-o-Y Growth Projections by Vehicle Category, 2024 to 2034
Figure 29: Northeast Industry Attractiveness Analysis by Vehicle Category, 2024 to 2034
Figure 30: Southeast Industry Value (US$ Mn) Historical Analysis, 2018 to 2023
Figure 31: Southeast Industry Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 32: Southeast Industry Value Y-o-Y Growth and Forecast, 2018 to 2034
Figure 33: Southeast Industry Incremental $ Opportunity, 2024 to 2034
Figure 34: Southeast Industry Share and BPS Analysis by Power Source, 2024 & 2034
Figure 35: Southeast Industry Y-o-Y Growth Projections by Power Source, 2024 to 2034
Figure 36: Southeast Industry Attractiveness Analysis by Power Source, 2024 to 2034
Figure 37: Southeast Industry Share and BPS Analysis by Powertrain, 2024 & 2034
Figure 38: Southeast Industry Y-o-Y Growth Projections by Powertrain, 2024 to 2034
Figure 39: Southeast Industry Attractiveness Analysis by Powertrain, 2024 to 2034
Figure 40: Southeast Industry Share and BPS Analysis by Vehicle Category, 2024 & 2034
Figure 41: Southeast Industry Y-o-Y Growth Projections by Vehicle Category, 2024 to 2034
Figure 42: Southeast Industry Attractiveness Analysis by Vehicle Category, 2024 to 2034
Figure 43: West Industry Value (US$ Mn) Historical Analysis, 2018 to 2023
Figure 44: West Industry Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 45: West Industry Value Y-o-Y Growth and Forecast, 2018 to 2034
Figure 46: West Industry Share and BPS Analysis by Power Source, 2024 & 2034
Figure 47: West Industry Y-o-Y Growth Projections by Power Source, 2024 to 2034
Figure 48: West Industry Attractiveness Analysis by Power Source, 2024 to 2034
Figure 49: West Industry Share and BPS Analysis by Powertrain, 2024 & 2034
Figure 50: West Industry Y-o-Y Growth Projections by Powertrain, 2024 to 2034
Figure 51: West Industry Attractiveness Analysis by Powertrain, 2024 to 2034
Figure 52: West Industry Share and BPS Analysis by Vehicle Category, 2024 & 2034
Figure 53: West Industry Y-o-Y Growth Projections by Vehicle Category, 2024 to 2034
Figure 54: West Industry Attractiveness Analysis by Vehicle Category, 2024 to 2034
Figure 55: Southwest Industry Value (US$ Mn) Historical Analysis, 2018 to 2023
Figure 56: Southwest Industry Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 57: Southwest Industry Value Y-o-Y Growth and Forecast, 2018 to 2034
Figure 58: Southwest Industry Share and BPS Analysis by Power Source, 2024 & 2034
Figure 59: Southwest Industry Y-o-Y Growth Projections by Power Source, 2024 to 2034
Figure 60: Southwest Industry Attractiveness Analysis by Power Source, 2024 to 2034
Figure 61: Southwest Industry Share and BPS Analysis by Powertrain, 2024 & 2034
Figure 62: Southwest Industry Y-o-Y Growth Projections by Powertrain, 2024 to 2034
Figure 63: Southwest Industry Attractiveness Analysis by Powertrain, 2024 to 2034
Figure 64: Southwest Industry Share and BPS Analysis by Vehicle Category, 2024 & 2034
Figure 65: Southwest Industry Y-o-Y Growth Projections by Vehicle Category, 2024 to 2034
Figure 66: Southwest Industry Attractiveness Analysis by Vehicle Category, 2024 to 2034
Figure 67: Midwest Industry Value (US$ Mn) Historical Analysis, 2018 to 2023
Figure 68: Midwest Industry Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 69: Midwest Industry Value Y-o-Y Growth and Forecast, 2018 to 2034
Figure 70: Midwest Industry Share and BPS Analysis by Power Source, 2024 & 2034
Figure 71: Midwest Industry Y-o-Y Growth Projections by Power Source, 2024 to 2034
Figure 72: Midwest Industry Attractiveness Analysis by Power Source, 2024 to 2034
Figure 73: Midwest Industry Share and BPS Analysis by Powertrain, 2024 & 2034
Figure 74: Midwest Industry Y-o-Y Growth Projections by Powertrain, 2024 to 2034
Figure 75: Midwest Industry Attractiveness Analysis by Powertrain, 2024 to 2034
Figure 76: Midwest Industry Share and BPS Analysis by Vehicle Category, 2024 & 2034
Figure 77: Midwest Industry Y-o-Y Growth Projections by Vehicle Category, 2024 to 2034
Figure 78: Midwest Industry Attractiveness Analysis by Vehicle Category, 2024 to 2034
Figure 79: Midwest Industry Value (US$ Mn) Historical Analysis, 2018 to 2023
Know thy Competitors
Competitive landscape highlights only certain players
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- FAQs -
How big is the United States market for hybrid electric vehicles?
Demand for hybrid electric vehicles in the United States is approximated at a market value of US$ 22.2 billion in 2024.
What is the forecasted valuation of the U.S. market for 2034?
Sales of hybrid electric vehicles in the U.S. are projected to reach US$ 80.87 billion by 2034.
What is the future of hybrid electric vehicles in the country?
The market in the United States is calculated to rise at a CAGR of 13.8% from 2024 to 2034.
What is the estimated market share of the Northeast region?
The Northeast U.S. is expected to capture 24.1% of the market share in 2024.
Which type of hybrid electric vehicle is in high demand?
Sales of hybrid electric passenger vehicles are projected to reach US$ 16.67 billion by 2034.
Who are the leading producers of hybrid electric vehicles in the U.S.?
Leading HEV manufacturers are Tesla Motors Inc., General Motors, and Ford Motor Company.
Hybrid Electric Vehicle Sales in United States and Opportunity Analysis