United States Hybrid Vehicle Market Report and Forecast 2025-2034
Description
The United States hybrid market reached 1.35 Million Units in 2024. The market is expected to grow at a CAGR of 16.20% between 2025 and 2034, reaching 6.06 Million Units by 2034.
United States Hybrid Vehicle Market Growth
The United States hybrid vehicle market has seen significant growth, particularly with the increase in parallel hybrid powertrains.
The parallel hybrid powertrain sector has expanded due to advancements in fuel efficiency and performance, technological progress, environmental concerns, regulatory shifts, and favourable economic factors. With a focus on sustainability and cost-effectiveness, there's a growing demand for parallel hybrid vehicles, indicating a shift towards greener transportation options.
In May 2024, the U.S. Department of Energy (DOE) distributed over $26.9 million to nine states, 27 local governments, and one Tribe for the next round of formula grants through the Energy Efficiency and Conservation Block Grant (EECBG) Program. These grants, funded by President Biden’s Bipartisan Infrastructure Law and managed by DOE’s Office of State and Community Energy Programs (SCEP), aim to support energy efficiency initiatives at the state and local levels.
Series-parallel hybrids merge the advantages of series and parallel configurations, resulting in enhanced fuel efficiency. These vehicles can seamlessly switch between or blend the two modes based on driving conditions, optimizing energy utilization. By enabling both the internal combustion engine and electric motor to propel the wheels, when necessary, this hybrid system enhances performance, delivering greater power and acceleration.
United States Hybrid Vehicle Industry Segmentation
United States Hybrid Vehicle Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Electric Powertrain Type
Parallel
Series-Parallel
Market Breakup by Hybrid Type
Micro Hybrid
Mild Hybrid
Full Hybrid
Plug-in Hybrid
Market Breakup by Vehicle Type
Passenger Cars
Commercial Vehicles
Market Breakup by Region
New England
Mideast
Great Lakes
Plains
Southeast
Southwest
Rocky Mountains
Far West
United States Hybrid Vehicle Market Share
Micro and mild hybrid technologies boost fuel efficiency by supporting the internal combustion engine with electric power during acceleration and employing regenerative braking to replenish the battery. This leads to decreased fuel usage, reduced emissions, and enhanced vehicle performance. Moreover, these hybrid options provide cost benefits and utilise regenerative braking to optimize fuel efficiency even further.
Leading Companies in the United States Hybrid Vehicle Market
BMW AG
Ford Motors Company
Mercedes Benz Group AG
Hyundai Motor Company
Kia Motors Corporation
Toyota Motor Corporation
Volvo AB
Honda Motor Co. Ltd.
Subaru Corporation
Dr. Ing. h.c. F. Porsche AG
Others
The company focuses on designing, producing, promoting, and maintaining a wide variety of vehicles, encompassing cars, trucks, SUVs, and electric vehicles, as well as automotive components and accessories.
United States Hybrid Vehicle Market Growth
The United States hybrid vehicle market has seen significant growth, particularly with the increase in parallel hybrid powertrains.
The parallel hybrid powertrain sector has expanded due to advancements in fuel efficiency and performance, technological progress, environmental concerns, regulatory shifts, and favourable economic factors. With a focus on sustainability and cost-effectiveness, there's a growing demand for parallel hybrid vehicles, indicating a shift towards greener transportation options.
In May 2024, the U.S. Department of Energy (DOE) distributed over $26.9 million to nine states, 27 local governments, and one Tribe for the next round of formula grants through the Energy Efficiency and Conservation Block Grant (EECBG) Program. These grants, funded by President Biden’s Bipartisan Infrastructure Law and managed by DOE’s Office of State and Community Energy Programs (SCEP), aim to support energy efficiency initiatives at the state and local levels.
Series-parallel hybrids merge the advantages of series and parallel configurations, resulting in enhanced fuel efficiency. These vehicles can seamlessly switch between or blend the two modes based on driving conditions, optimizing energy utilization. By enabling both the internal combustion engine and electric motor to propel the wheels, when necessary, this hybrid system enhances performance, delivering greater power and acceleration.
United States Hybrid Vehicle Industry Segmentation
United States Hybrid Vehicle Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Electric Powertrain Type
Parallel
Series-Parallel
Market Breakup by Hybrid Type
Micro Hybrid
Mild Hybrid
Full Hybrid
Plug-in Hybrid
Market Breakup by Vehicle Type
Passenger Cars
Commercial Vehicles
Market Breakup by Region
New England
Mideast
Great Lakes
Plains
Southeast
Southwest
Rocky Mountains
Far West
United States Hybrid Vehicle Market Share
Micro and mild hybrid technologies boost fuel efficiency by supporting the internal combustion engine with electric power during acceleration and employing regenerative braking to replenish the battery. This leads to decreased fuel usage, reduced emissions, and enhanced vehicle performance. Moreover, these hybrid options provide cost benefits and utilise regenerative braking to optimize fuel efficiency even further.
Leading Companies in the United States Hybrid Vehicle Market
BMW AG
Ford Motors Company
Mercedes Benz Group AG
Hyundai Motor Company
Kia Motors Corporation
Toyota Motor Corporation
Volvo AB
Honda Motor Co. Ltd.
Subaru Corporation
Dr. Ing. h.c. F. Porsche AG
Others
The company focuses on designing, producing, promoting, and maintaining a wide variety of vehicles, encompassing cars, trucks, SUVs, and electric vehicles, as well as automotive components and accessories.
Table of Contents
119 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 North America Hybrid Vehicle Market Overview
- 5.1 Key Industry Highlights
- 5.2 North America Hybrid Vehicle Historical Market (2018-2024)
- 5.3 North America Hybrid Vehicle Market Forecast (2025-2034)
- 5.4 North America Hybrid Vehicle Market Share by Country
- 5.4.1 United States
- 5.4.2 Canada
- 6 United States Hybrid Vehicle Market Overview
- 6.1 Key Industry Highlights
- 6.2 United States Hybrid Vehicle Historical Market (2018-2024)
- 6.3 United States Hybrid Vehicle Market Forecast (2025-2034)
- 7 United States Hybrid Vehicle Market by Electric Powertrain Type
- 7.1 Parallel
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Series-Parallel
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 8 United States Hybrid Vehicle Market by Hybrid Type
- 8.1 Micro Hybrid
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Mild Hybrid
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 Full Hybrid
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 Plug-in Hybrid
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 9 United States Hybrid Vehicle Market by Vehicle Type
- 9.1 Passenger Cars
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Commercial Vehicles
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 10 United States Hybrid Vehicle Market by Region
- 10.1 New England
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 Mideast
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 Great Lakes
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 Plains
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 10.5 Southeast
- 10.5.1 Historical Trend (2018-2024)
- 10.5.2 Forecast Trend (2025-2034)
- 10.6 Southwest
- 10.6.1 Historical Trend (2018-2024)
- 10.6.2 Forecast Trend (2025-2034)
- 10.7 Rocky Mountain
- 10.7.1 Historical Trend (2018-2024)
- 10.7.2 Forecast Trend (2025-2034)
- 10.8 Far West
- 10.8.1 Historical Trend (2018-2024)
- 10.8.2 Forecast Trend (2025-2034)
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators for Demand
- 11.4 Key Indicators for Price
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profiles
- 12.5.1 BMW AG
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 Ford Motors Company
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 Mercedes Benz Group AG
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 Hyundai Motor Company
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 Kia Motors Corporation
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 Toyota Motor Corporation
- 12.5.6.1 Company Overview
- 12.5.6.2 Product Portfolio
- 12.5.6.3 Demographic Reach and Achievements
- 12.5.6.4 Certifications
- 12.5.7 Volvo AB
- 12.5.7.1 Company Overview
- 12.5.7.2 Product Portfolio
- 12.5.7.3 Demographic Reach and Achievements
- 12.5.7.4 Certifications
- 12.5.8 Honda Motor Co. Ltd.
- 12.5.8.1 Company Overview
- 12.5.8.2 Product Portfolio
- 12.5.8.3 Demographic Reach and Achievements
- 12.5.8.4 Certifications
- 12.5.9 Subaru Corporation
- 12.5.9.1 Company Overview
- 12.5.9.2 Product Portfolio
- 12.5.9.3 Demographic Reach and Achievements
- 12.5.9.4 Certifications
- 12.5.10 Dr. Ing. h.c. F. Porsche AG
- 12.5.10.1 Company Overview
- 12.5.10.2 Product Portfolio
- 12.5.10.3 Demographic Reach and Achievements
- 12.5.10.4 Certifications
- 12.5.11 Others
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