Hybrid Electric Vehicle (HEV) Market 2024-2028
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overview_1
Incremental Growth2024-2028 (US$bn)

$ 456.4

overview_2
2024 Year-over-Year Growth

22.39%

overview_3
CAGR (2024-2028)

23.87%

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Report Coverage

Global

Hybrid Electric Vehicle (Hev) Market Segmentation

Market Segmentation & Scope
Vehicle Type
Passenger cars Commercial vehicles PHEVs
Propulsion
Full HEVs Mild HEVs

Geography

Europe

UK France Germany

APAC

China India Japan South Korea

North America

US Canada

South America

Brazil

Middle East and Africa

UAE

Market Segment by Geographic Landscape

regional_img

39%

of the growth will originate

from APAC

Global Market Size 2018 - 2028 (US$ Bn)

Market is segmented by Vehicle Type into Passenger cars, Commercial vehicles, PHEVs

The Passenger cars is expected to be largest growing segment during 2024-2028

Largest Segment - Passenger cars

US$ 517.20 Bn

Hybrid Electric Vehicle (Hev) Market by Vehicle Type into Passenger cars; 2018-2028 (US$ Bn)

Passenger cars Market Revenue and Forecast 2018-2028 (US$ Bn)

Passenger cars

  • Passenger cars Market Size and Forecast 2018 to 2028 (US$ Bn)

Hybrid Electric Vehicle (Hev) Market by Vehicle Type into Commercial vehicles; 2018-2028 (US$ Bn)

Commercial vehicles Market Revenue and Forecast 2018-2028 (US$ Bn)

Commercial vehicles

  • Commercial vehicles Market Size and Forecast 2018 to 2028 (US$ Bn)

Hybrid Electric Vehicle (Hev) Market by Vehicle Type into PHEVs; 2018-2028 (US$ Bn)

PHEVs Market Revenue and Forecast 2018-2028 (US$ Bn)

PHEVs

  • PHEVs Market Size and Forecast 2018 to 2028 (US$ Bn)

Market is segmented by Propulsion into Full HEVs, Mild HEVs

The Full HEVs is expected to be largest growing segment during 2024-2028

Largest Segment - Full hevs

US$ 221.00 Bn

Hybrid Electric Vehicle (Hev) Market Size by Segmentation, by Propulsion (US$ Bn)

Propulsion 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 CAGR (%)
Full HEVs XX XX XX XX XX XX XX XX XX XX XX
Mild HEVs XX XX XX XX XX XX XX XX XX XX XX

Hybrid Electric Vehicle (Hev) Market by Propulsion into Full HEVs; 2018-2028 (US$ Bn)

Full HEVs Market Revenue and Forecast 2018-2028 (US$ Bn)

Full HEVs

  • Full HEVs Market Size and Forecast 2018 to 2028 (US$ Bn)

Hybrid Electric Vehicle (Hev) Market by Propulsion into Mild HEVs; 2018-2028 (US$ Bn)

Mild HEVs Market Revenue and Forecast 2018-2028 (US$ Bn)

Mild HEVs

  • Mild HEVs Market Size and Forecast 2018 to 2028 (US$ Bn)

Market is segmented by Geography into APAC, Europe, North America, South America, Middle East and Africa

The APAC is estimated to contribute 39% to the growth of global market during the forecast period 2024-2028.

Largest Segment - APAC

39%

Regional share of different regions, including APAC, Europe, North America, South America

Region 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 CAGR (%)
APAC 20.50 XX XX XX XX XX XX XX XX XX XX XX
Europe XX 23.10 XX XX XX XX XX XX XX XX XX XX
North America XX XX 20.20 XX XX XX XX XX XX XX XX XX
South America XX XX XX 5.60 7.30 XX XX XX XX XX XX XX
Middle East and Africa XX XX XX XX XX XX XX XX XX XX XX XX

Hybrid Electric Vehicle (Hev) Market Size by Geography into APAC; 2018-2028 (US$ Bn)

APAC Market Revenue and Forecast 2018-2028 (US$ Bn)

Hybrid Electric Vehicle (Hev) Market Size by Country into China; 2018-2028 (US$ Bn)

China Market Revenue and Forecast 2018-2028 (US$ Bn)

Hybrid Electric Vehicle (Hev) Market Size by Geography into Europe; 2018-2028 (US$ Bn)

Europe Market Revenue and Forecast 2018-2028 (US$ Bn)

Hybrid Electric Vehicle (Hev) Market Size by Country into Germany; 2018-2028 (US$ Bn)

Germany Market Revenue and Forecast 2018-2028 (US$ Bn)

Hybrid Electric Vehicle (Hev) Market Size by Country into UK; 2018-2028 (US$ Bn)

UK Market Revenue and Forecast 2018-2028 (US$ Bn)

Hybrid Electric Vehicle (Hev) Market Size by Country into France; 2018-2028 (US$ Bn)

France Market Revenue and Forecast 2018-2028 (US$ Bn)

Hybrid Electric Vehicle (Hev) Market Size by Geography into North America; 2018-2028 (US$ Bn)

North America Market Revenue and Forecast 2018-2028 (US$ Bn)

Hybrid Electric Vehicle (Hev) Market Size by Country into US; 2018-2028 (US$ Bn)

US Market Revenue and Forecast 2018-2028 (US$ Bn)

Hybrid Electric Vehicle (Hev) Market Size by Geography into South America; 2018-2028 (US$ Bn)

South America Market Revenue and Forecast 2018-2028 (US$ Bn)

Hybrid Electric Vehicle (Hev) Market Size by Geography into Middle East and Africa; 2018-2028 (US$ Bn)

Middle East and Africa Market Revenue and Forecast 2018-2028 (US$ Bn)

Major Companies

Market Companies

Name Profile Employees Headquarters Website
AB VolvoView Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Bayerische Motoren Werke AGView Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
BYD Co. Ltd.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Chongqing Changan Automobile Co. Ltd.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Ford Motor Co.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
General Motors Co.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Honda Motor Co. Ltd.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Hyundai Motor Co.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Li Auto Inc.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Mercedes Benz Group AGView Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Mitsubishi Motors Corp.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Nissan Motor Co. Ltd.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Renault SASView Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
SAIC Motor Corp. Ltd.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Stellantis NVView Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Suzuki Motor Corp.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Tata Sons Pvt. Ltd.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Toyota Motor Corp.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Volkswagen AGView Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Zhejiang Geely Holding Group Co. Ltd.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com

Hybrid Electric Vehicle (Hev) Market Scope

  1. By Vehicle Type
    1. Introduction / Key Findings
    2. Historical Market Size Value (US$ billion) Analysis By Vehicle Type, 2018 to 2022
    3. Current and Future Market Size Value (US$ billion) Analysis and Forecast By Vehicle Type, 2024 to 2028
      1. Passenger cars
      2. Commercial vehicles
    4. Y-o-Y Growth Trend Analysis By Vehicle Type, 2018 to 2022
    5. Absolute $ Opportunity Analysis By Vehicle Type, 2024 to 2028
  2. By Propulsion
    1. Introduction / Key Findings
    2. Historical Market Size Value (US$ billion) Analysis By Propulsion, 2018 to 2022
    3. Current and Future Market Size Value (US$ billion) Analysis and Forecast By Propulsion, 2024 to 2028
      1. Full HEVs
      2. Mild HEVs
      3. PHEVs
    4. Y-o-Y Growth Trend Analysis By Propulsion, 2018 to 2022
    5. Absolute $ Opportunity Analysis By Propulsion, 2024 to 2028
  3. By Region
    1. Introduction / Key Findings
    2. Historical Market Size Value (US$ billion) Analysis By Region, 2018 to 2022
    3. Current and Future Market Size Value (US$ billion) Analysis and Forecast By Region, 2024 to 2028
      1. APAC
      2. Europe
      3. North America
      4. South America
      5. Middle East and Africa
  4. APAC Market Analysis 2018 to 2022 and Forecast 2024 to 2028, By Country
    1. Historical Market Size Value (US$ billion) Trend Analysis By Market, 2018 to 2022
    2. Market Size Value (US$ billion) Forecast By Market, 2024 to 2028
    3. By Country
      1. China
    4. By Vehicle Type
    5. By Propulsion
  5. Europe Market Analysis 2018 to 2022 and Forecast 2024 to 2028, By Country
    1. Historical Market Size Value (US$ billion) Trend Analysis By Market, 2018 to 2022
    2. Market Size Value (US$ billion) Forecast By Market, 2024 to 2028
    3. By Country
      1. Germany
      2. UK
      3. France
    4. By Vehicle Type
    5. By Propulsion
  6. North America Market Analysis 2018 to 2022 and Forecast 2024 to 2028, By Country
    1. Historical Market Size Value (US$ billion) Trend Analysis By Market, 2018 to 2022
    2. Market Size Value (US$ billion) Forecast By Market, 2024 to 2028
    3. By Country
      1. US
    4. By Vehicle Type
    5. By Propulsion
  7. South America Market Analysis 2018 to 2022 and Forecast 2024 to 2028, By Country
    1. Historical Market Size Value (US$ billion) Trend Analysis By Market, 2018 to 2022
    2. Market Size Value (US$ billion) Forecast By Market, 2024 to 2028
    3. By Vehicle Type
    4. By Propulsion
  8. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2024 to 2028, By Country
    1. Historical Market Size Value (US$ billion) Trend Analysis By Market, 2018 to 2022
    2. Market Size Value (US$ billion) Forecast By Market, 2024 to 2028
    3. By Vehicle Type
    4. By Propulsion

Major Companies

Market companies

Name Profile Employees Headquarters Website
AB VolvoView Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Bayerische Motoren Werke AGView Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
BYD Co. Ltd.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Chongqing Changan Automobile Co. Ltd.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Ford Motor Co.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
General Motors Co.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Honda Motor Co. Ltd.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Hyundai Motor Co.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Li Auto Inc.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Mercedes Benz Group AGView Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Mitsubishi Motors Corp.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Nissan Motor Co. Ltd.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Renault SASView Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
SAIC Motor Corp. Ltd.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Stellantis NVView Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Suzuki Motor Corp.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Tata Sons Pvt. Ltd.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Toyota Motor Corp.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Volkswagen AGView Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
Zhejiang Geely Holding Group Co. Ltd.View Profiletable_profile101-250Santa Clara, California, United States, North Americaavinetworks.com
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