Global Hybrid Electric Vehicle Conversion Kit Market 2020-2024

Global Hybrid Electric Vehicle Conversion Kit Market 2020-2024

Technavio has been monitoring the hybrid electric vehicle conversion kit market and it is poised to grow by 27.70 th units during 2020-2024 progressing at a CAGR of 13% during the forecast period. Our reports on hybrid electric vehicle conversion kit market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the enforcement of regulations, development in emerging markets driving conversion kit adoption, and development of grid-independent low-cost hybrid kit for light vehicles.

The hybrid electric vehicle conversion kit market analysis includes the application segment and geographic landscape.

Technavio's hybrid electric vehicle conversion kit market is segmented as below:

By Application

  • Commercial vehicles
  • Passenger cars
By Geographic Landscapes
  • North America
  • APAC
  • Europe
  • South America
  • MEA
This study identifies the growing development of solar hybrid electric cars as one of the prime reasons driving the hybrid electric vehicle conversion kit market growth during the next few years. Also, the growing development of simplified and lightweight conversion kits and increasing development of low-cost conversion kits will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our hybrid electric vehicle conversion kit market covers the following areas:
  • Hybrid electric vehicle conversion kit market sizing
  • Hybrid electric vehicle conversion kit market forecast
  • Hybrid electric vehicle conversion kit market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading hybrid electric vehicle conversion kit market vendors that include A123 Systems LLC, ALTe Technologies, Altigreen Propulsion Labs Pvt. Ltd., Enginer, EVDrive, Hybrid Design Services Inc., IX Energy Pvt. Ltd., KPIT Technologies Ltd., Odyne Systems LLC, and XL Hybrids Inc. Also, the hybrid electric vehicle conversion kit market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.


  • Executive Summary
  • Market Landscape
    • Market ecosystem
      • Table Parent market
      • Table Market characteristics
    • Value chain analysis
      • Table Value chain analysis: Automotive components and accessories market
      • Inputs:
      • Inbound logistics
      • Operations:
      • Distribution and logistics:
      • Marketing and sales:
      • Service:
      • Industry innovations:
  • Market Sizing
    • Market definition
      • Table Offerings of vendors included in the market definition
    • Market segment analysis
      • Table Market segments
    • Market size 2019
    • Market outlook: Forecast for 2019-2024
      • Estimating growth rates for emerging and high-growth markets
      • Estimating growth rates for mature markets
        • Table Global - Market size and forecast 2019-2024 (thousand units)
        • Table Global HEV conversion kit market 2019-2024 ($ million), inclusive of COVID-19 impact
        • Table Global market: Year-over-year growth 2019-2024 (%)
  • Five Forces Analysis
    • Five forces summary
      • Table Five forces analysis 2019 & 2024
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2019
  • Market Segmentation by Application
    • Market segments
      • Table Application - Market share 2019-2024 (%)
    • Comparison by Application
      • Table Comparison by Application
    • Commercial vehicles - Market size and forecast 2019-2024
      • Table Commercial vehicles - Market size and forecast 2019-2024 (thousand units)
      • Table Commercial vehicles - Year-over-year growth 2019-2024 (%)
    • Passenger cars - Market size and forecast 2019- 2024
      • Table Passenger cars - Market size and forecast 2019-2024 (thousand units)
      • Table Passenger cars - Year-over-year growth 2019-2024 (%)
    • Market opportunity by Application
      • Table Market opportunity by Application
  • Customer landscape
    • Table Customer landscape
  • Geographic Landscape
    • Geographic segmentation
      • Table Market share by geography 2019-2024 (%)
    • Geographic comparison
      • Table Geographic comparison
    • North America - Market size and forecast 2019- 2024
      • Table North America - Market size and forecast 2019-2024 (thousand units)
      • Table North America - Year-over-year growth 2019-2024 (%)
    • APAC - Market size and forecast 2019-2024
      • Table APAC - Market size and forecast 2019-2024 (thousand units)
      • Table APAC - Year-over-year growth 2019-2024 (%)
    • Europe - Market size and forecast 2019-2024
      • Table Europe - Market size and forecast 2019-2024 (thousand units)
      • Table Europe - Year-over-year growth 2019-2024 (%)
    • South America - Market size and forecast 2019- 2024
      • Table South America - Market size and forecast 2019-2024 (thousand units)
      • Table South America - Year-over-year growth 2019-2024 (%)
    • MEA - Market size and forecast 2019-2024
      • Table MEA - Market size and forecast 2019-2024 (thousand units)
      • Table MEA - Year-over-year growth 2019-2024 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity by geography
      • Table Market opportunity by geography
  • Drivers, Challenges, and Trends
    • Market drivers
      • Enforcement of regulations to propel adoption of efficient conversion kits
      • Development in emerging markets driving conversion kit adoption
      • Development of grid-independent low-cost hybrid kit for light vehicles
    • Market challenges
      • Issues pertaining to mile range and battery performance of converted hybrid vehicles
      • High cost of ownership for hybrid models
      • Decreasing cost of new HEVs
        • Table Impact of drivers and challenges
    • Market trends
      • Increasing development of low-cost conversion kit
      • Growing development of simplified and lightweight conversion kits
      • Growing development of solar hybrid electric cars
  • Vendor Landscape
    • Overview
    • Vendor landscape
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
      • Table Industry risks
  • Vendor Analysis
    • Vendors covered
      • Table Vendors covered
    • Market positioning of vendors
      • Table Market positioning of vendors
    • A123 Systems LLC
      • Table A123 Systems LLC – Overview
      • Table A123 Systems LLC - Product and service
      • Table A123 Systems LLC - Key offerings
    • ALTe Technologies
      • Table ALTe Technologies – Overview
      • Table ALTe Technologies - Product and service
      • Table ALTe Technologies - Key offerings
    • Altigreen Propulsion Labs Pvt. Ltd.
      • Table Altigreen Propulsion Labs Pvt. Ltd. – Overview
      • Table Altigreen Propulsion Labs Pvt. Ltd. - Product and service
      • Table Altigreen Propulsion Labs Pvt. Ltd. - Key offerings
    • Enginer
      • Table Enginer – Overview
      • Table Enginer - Product and service
      • Table Enginer - Key offerings
    • EVDrive
      • Table EVDrive – Overview
      • Table EVDrive - Product and service
      • Table EVDrive - Key offerings
    • Hybrid Design Services Inc.
      • Table Hybrid Design Services Inc. – Overview
      • Table Hybrid Design Services Inc. - Product and service
      • Table Hybrid Design Services Inc. - Key offerings
    • IX Energy Pvt. Ltd.
      • Table IX Energy Pvt. Ltd. – Overview
      • Table IX Energy Pvt. Ltd. - Product and service
      • Table IX Energy Pvt. Ltd. - Key offerings
    • KPIT Technologies Ltd.
      • Table KPIT Technologies Ltd. – Overview
      • Table KPIT Technologies Ltd. - Product and service
      • Table KPIT Technologies Ltd. - Key news
      • Table KPIT Technologies Ltd. - Key offerings
    • Odyne Systems LLC
      • Table Odyne Systems LLC – Overview
      • Table Odyne Systems LLC - Product and service
      • Table Odyne Systems LLC - Key offerings
    • XL Hybrids Inc.
      • Table XL Hybrids Inc. – Overview
      • Table XL Hybrids Inc. - Product and service
      • Table XL Hybrids Inc. - Key news
      • Table XL Hybrids Inc. - Key offerings
  • Appendix
    • Scope of the report
      • Market definition
      • Objectives
      • Notes and Caveats
    • Currency conversion rates for US$
      • Table Currency conversion rates for US$
    • Research methodology
      • Table Research Methodology
      • Table Validation techniques employed for market sizing
      • Table Information sources
    • List of abbreviations
      • Table List of abbreviations

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