Hybrid Electric Vehicle (HEV) Market 2024-2028
Incremental Growth2024-2028 (US$bn)
$ 456.4
2024 Year-over-Year Growth
22.39%
CAGR (2024-2028)
23.87%
Report Coverage
Global
Hybrid Electric Vehicle (Hev) Market Segmentation
Market Segmentation & Scope
Market Segment by Geographic Landscape
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 Volvo | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Bayerische Motoren Werke AG | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| BYD Co. Ltd. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Chongqing Changan Automobile Co. Ltd. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Ford Motor Co. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| General Motors Co. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Honda Motor Co. Ltd. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Hyundai Motor Co. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Li Auto Inc. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Mercedes Benz Group AG | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Mitsubishi Motors Corp. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Nissan Motor Co. Ltd. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Renault SAS | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| SAIC Motor Corp. Ltd. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Stellantis NV | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Suzuki Motor Corp. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Tata Sons Pvt. Ltd. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Toyota Motor Corp. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Volkswagen AG | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Zhejiang Geely Holding Group Co. Ltd. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com |
Hybrid Electric Vehicle (Hev) Market Scope
- By Vehicle Type
- Introduction / Key Findings
- Historical Market Size Value (US$ billion) Analysis By Vehicle Type, 2018 to 2022
- Current and Future Market Size Value (US$ billion) Analysis and Forecast By Vehicle Type, 2024 to 2028
- Y-o-Y Growth Trend Analysis By Vehicle Type, 2018 to 2022
- Absolute $ Opportunity Analysis By Vehicle Type, 2024 to 2028
- By Propulsion
- Introduction / Key Findings
- Historical Market Size Value (US$ billion) Analysis By Propulsion, 2018 to 2022
- Current and Future Market Size Value (US$ billion) Analysis and Forecast By Propulsion, 2024 to 2028
- Y-o-Y Growth Trend Analysis By Propulsion, 2018 to 2022
- Absolute $ Opportunity Analysis By Propulsion, 2024 to 2028
- By Region
- Introduction / Key Findings
- Historical Market Size Value (US$ billion) Analysis By Region, 2018 to 2022
- Current and Future Market Size Value (US$ billion) Analysis and Forecast By Region, 2024 to 2028
- APAC Market Analysis 2018 to 2022 and Forecast 2024 to 2028, By Country
- Historical Market Size Value (US$ billion) Trend Analysis By Market, 2018 to 2022
- Market Size Value (US$ billion) Forecast By Market, 2024 to 2028
- By Country
- By Vehicle Type
- By Propulsion
- Europe Market Analysis 2018 to 2022 and Forecast 2024 to 2028, By Country
- Historical Market Size Value (US$ billion) Trend Analysis By Market, 2018 to 2022
- Market Size Value (US$ billion) Forecast By Market, 2024 to 2028
- By Country
- By Vehicle Type
- By Propulsion
- North America Market Analysis 2018 to 2022 and Forecast 2024 to 2028, By Country
- Historical Market Size Value (US$ billion) Trend Analysis By Market, 2018 to 2022
- Market Size Value (US$ billion) Forecast By Market, 2024 to 2028
- By Country
- By Vehicle Type
- By Propulsion
- South America Market Analysis 2018 to 2022 and Forecast 2024 to 2028, By Country
- Historical Market Size Value (US$ billion) Trend Analysis By Market, 2018 to 2022
- Market Size Value (US$ billion) Forecast By Market, 2024 to 2028
- By Vehicle Type
- By Propulsion
- Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2024 to 2028, By Country
- Historical Market Size Value (US$ billion) Trend Analysis By Market, 2018 to 2022
- Market Size Value (US$ billion) Forecast By Market, 2024 to 2028
- By Vehicle Type
- By Propulsion
Major Companies
Market companies
| Name | Profile | Employees | Headquarters | Website | |
|---|---|---|---|---|---|
| AB Volvo | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Bayerische Motoren Werke AG | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| BYD Co. Ltd. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Chongqing Changan Automobile Co. Ltd. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Ford Motor Co. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| General Motors Co. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Honda Motor Co. Ltd. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Hyundai Motor Co. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Li Auto Inc. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Mercedes Benz Group AG | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Mitsubishi Motors Corp. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Nissan Motor Co. Ltd. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Renault SAS | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| SAIC Motor Corp. Ltd. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Stellantis NV | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Suzuki Motor Corp. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Tata Sons Pvt. Ltd. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Toyota Motor Corp. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Volkswagen AG | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com | |
| Zhejiang Geely Holding Group Co. Ltd. | View Profile | 101-250 | Santa Clara, California, United States, North America | avinetworks.com |
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