Hybrid Electric Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Hybrid Electric Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global hybrid electric vehicle market reached a volume of 5.5 Million Units in 2021. Looking forward, IMARC Group expects the market to reach 31.2 Million Units by 2027, exhibiting a CAGR of 31.9% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

A hybrid electric vehicle (HEV) is an automobile that runs on the energy stored in batteries. It operates on the combination of an internal combustion engine and an electric propulsion system. The battery is charged using regenerative braking that converts the energy, which is lost during coasting and braking into electricity. In comparison to combustion engine-based automobiles, HEVs have lower fuel consumption, carbon-based emissions and maintenance costs, which make them more cost-effective even at low speeds.

Hybrid Electric Vehicle Market Trends:
The increasing demand for fuel-efficient automobiles across the globe is one of the key factors driving the market. Furthermore, growing environmental consciousness among consumers is also providing a boost to the market growth. This has led to an increased emphasis on the development of innovative designs and advanced technologies to produce zero- and low-emission vehicles with soundless operations and high-performance engines. Additionally, the implementation of favourable government initiatives promoting the adoption of electric vehicles (EVs) for sustainable development is also creating a positive outlook for the market. For instance, various incentives, including tax benefits, utility rate reductions, parking privileges and other rebates, are offered to consumers to enhance the adoption rates of HEVs. Apart from this, improvements in the EV charging infrastructure are leading to increased investments by power sector stakeholders in automobile utilities and charging hardware. Other factors, including rapid urbanization, rising disposable incomes and extensive research and development (R&D) activities, are projected to drive the market in the upcoming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hybrid electric vehicle market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on propulsion type, configuration type, vehicle type and power source.

Breakup by Propulsion Type:

Full Hybrids
Mild Hybrids
Plug-in Hybrids
Others

Breakup by Configuration Type:

Series HEV
Parallel HEV
Combination HEV

Breakup by Vehicle Type:

Passenger Cars
Commercial Vehicles
Two Wheelers
Others

Breakup by Power Source:

Stored Electricity
On Board Electric Generator

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Toyota Motor Corporation, Honda Motor Co. Ltd., Ford Motor Company, Volkswagen Aktiengesellschaft, General Motors Company, Hyundai Motor Company, Nissan Motor Corporation Ltd., etc.
Key Questions Answered in This Report:

How has the global hybrid electric vehicle market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global hybrid electric vehicle market?
What is the breakup of the market based on the propulsion type?
What is the breakup of the market based on the configuration type?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the power source?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global hybrid electric vehicle market and who are the key players?
What is the degree of competition in the industry?


1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Hybrid Electric Vehicle Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Propulsion Type
6.1 Full Hybrids
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Mild Hybrids
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Plug-in Hybrids
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Configuration Type
7.1 Series HEV
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Parallel HEV
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Combination HEV
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Vehicle Type
8.1 Passenger Cars
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Commercial Vehicles
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Two-Wheelers
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Power Source
9.1 Stored Electricity
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 On Board Electric Generator
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Indicators
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Toyota Motor Corporation
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Financials
15.3.1.4 SWOT Analysis
15.3.2 Honda Motor Co. Ltd.
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 Financials
15.3.2.4 SWOT Analysis
15.3.3 Ford Motor Company
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Financials
15.3.3.4 SWOT Analysis
15.3.4 Volkswagen Aktiengesellschaft
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.4.4 SWOT Analysis
15.3.5 General Motors Company
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6 Hyundai Motor Company
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.6.4 SWOT Analysis
15.3.7 Nissan Motor Corporation Ltd.
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.7.4 SWOT Analysis

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