Hybrid Electric Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Hybrid Electric Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

  • April 2020 •
  • 106 pages •
  • Report ID: 5889839 •
  • Format: PDF
The global hybrid electric vehicle market is currently witnessing robust growth.

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.

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. Looking forward, the analyst expects the market to register a CAGR of more than 45% during 2020-2025.

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 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?