Global Hybrid Vehicles Market, By Type (Parallel Hybrid, Series Hybrid), Propulsion (HEV, PHEV, NGV), Hybridization (Micro Hybrid, Mild Hybrid, Full Hybrid), Component Type (Electric Motors, Transmission, Battery), Vehicle Type (Passenger Car, Commercial Vehicles), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights of Hybrid Vehicles Market
Hybrid vehicles market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to reach at an estimated value of USD 339.7 billion by 2029 and grow at a CAGR of 10.0% in the above-mentioned forecast period.
Hybrid vehicle basically uses the two different power sources such as electric engine or an electric motor with an energy storage battery and fuel cells. The two of the common types of hybrid vehicles are parallel hybrid and series hybrid.
The factors such as increasing demand for environmentally friendly vehicles, reduction in the cost of the battery and rising emission norms and growing demand for alternative fuel efficiency has resulted in growth in the market value. Additionally, increasing government initiatives to enhance hybrid vehicles is estimated to accelerate market’s growth. However, high cost of the hybrid vehicles and growing demand for BEVs and FCEVs will further restrict the scope of growth for the market.
Furthermore, initiatives and support from governments and growth in developing markets will further offer a variety of growth opportunities for the market. On the other hand, the factors such as increasing demand for battery electric vehicles (BEVs) and fuel cell electric vehicles (FCEVs) will pose a major challenge to the market growth rate.
This hybrid vehicles market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on hybrid vehicles market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Hybrid Vehicles Market Scope and Market Size
The hybrid vehicles market is segmented on the basis of type, propulsion, hybridization, component type and vehicle type. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of type, the hybrid vehicles market is segmented into parallel hybrid and series hybrid.
- On the basis of propulsion segment of hybrid vehicles market is divided into HEV, PHEV and NGV.
- On the basis of hybridization, the market is segmented into micro hybrid, mild hybrid, and full hybrid vehicles.
- On the basis of component type, the market is segmented into electric motors, transmission and battery.
- On the basis of vehicle type, the market is segmented into passenger car and commercial vehicles.
Hybrid Vehicles Market Country Level Analysis
The global hybrid vehicles market is analyzed and market size insights and trends are provided by type, propulsion, hybridization, component type and vehicle type as referenced above.
The countries covered in the hybrid vehicles market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the hybrid vehicles market and will continue to flourish its trend of dominance during the forecast period as the government in the region is taking initiatives so they can develop zero emission vehicles. Asia-Pacific region is set to witness unprecedented growth during the forecast period and will project the highest compound annual growth (CAGR) rate. This is because of the growth in the adoption of hybrid electric buses in this region.
The country section of the hybrid vehicles market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Hybrid Vehicles Market Share Analysis
The hybrid vehicles market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to hybrid vehicles market.
Some of the major players covered in the hybrid vehicles market report are Toyota Motor Sales, U.S.A., Inc., Ford Motor Company, AB Volvo, Continental AG, ZF Friedrichshafen AG, Hyundai Motor Company, Honda Motor Company, Schaeffler India Limited, BorgWarner Inc., Delphi Technologies, Allison Transmission Inc., Magna International Inc., Cummins Inc., Eaton, MAHLE GmbH, Robert Bosch GmbH, DENSO CORPORATION, Mitsubishi Motors North America, Inc., among others.