The Global Hybrid Vehicle Market was valued at USD 146.34 Billion in the year 2020. Surging global production of Automobile and Consumer Electronic and the increasing incorporation of Hybrid Vehicle are the significant elements stimulating the market expansion. With the increased disposable income in highly populated countries such as China, Japan and India, the adoption of Parallel Electric Powertrain technology has also improved significantly. The advancements in Hybrid Vehicles and the increased use of electronics devices drive the Hybrid Vehicle market. Furthermore, the increasing penetration of Hybrid Vehicles in the Passenger and Commercial vehicle industry and the budding automation in manufacturing industries will further propel the market in the coming years.
The Mild Degree of Hybridization of Hybrid Vehicle witnessed growth at a noteworthy rate over the past few years and in the forecast period due to the imperative role being played because of the factors such as the higher concentration of OEMs and ODMs across industries. During 2021-2026, Hybrid Vehicle Market is anticipated to grow at an increased rate of intensifying government regulations in various parts of the world.
Parallel Electric Powertrain Technology in Hybrid Vehicle is expected to hold a very larger market share of the Hybrid Vehicle Market than other Electric Powertrain in the segment. Moreover, increasing demand of new Electronic Technology in the world has been anticipated to propel thrust in the sales of Hybrid vehicles in the future.
Amongst the regions, Asia Pacific accounts for the largest regional share in the global Hybrid Vehicle market in 2026. Key factors driving the robust growth rate of the Asia Pacific region include rising urban population, disposable income, increasing manufacturing activities in different countries, the rise in the demand for automobile manufacturers to improve quality by eliminating errors and reducing variability for better visibility and assistance is a major factor driving the Hybrid Vehicle market growth in the Asia Pacific region.
Scope of the Report
- The report presents the analysis of the Hybrid Vehicle Market for the historical period of 2016-2020 and the forecast period of 2021-2026.
- The report analyses the Hybrid Vehicle Market by Value (USD Billion).
- The report analyses the Hybrid Vehicle Market by Volume (Thousand Units).
- The report analyses the Hybrid Vehicle Market by Degree of Hybridization (Mild, Micro, Full).
- The report analyses the Hybrid Vehicle Market by Electric Powertrain (Parallel, Series).
- The report analyses the Hybrid Vehicle Market by Vehicle Type (Passenger Vehicle, Commercial Vehicle).
- The Global Hybrid Vehicle Market has been analysed By Region (America, Europe, Asia Pacific, Middle East and Africa) and By Country (United States, Canada Mexico, Germany, United Kingdom, France, Norway, China, Japan, India).
- The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by Degree of Hybridization, by Electric Powertrain, by Vehicle Type, by region.
- Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new Type development. The companies analysed in the report include: Toyota Motor Corporation, Ford Motor Corporation, Nissan Motor, Honda, Volvo Group, BYD Company Limited, Volkswagen, Renault SA, Hyundai Motor Company, Daimler AG.
Key Target Audience
- Hybrid Vehicle Manufacturers and Vendors
- Automotive Companies/OEMs
- Consulting and Advisory Firms
- Government and Policy Makers
- Regulatory Authorities