Global Hybrid Electric Vehicle Market 2016-2020

  • Published: Nov 2016
  • Pages: 93
  • SKU: IRTNTR10796
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This market research report analyzes the key players in the global hybrid electric vehicle market such as Toyota, Hyundai, Honda, Ford, and Nissan. The report also presents a competitive analysis of the market by degree of hybridization (mild HEVs, full HEVs, and PHEVs), by type of vehicle (commercial, luxury sedan, SUV, mid-luxury, and entry-level), and by geography (APAC, Europe, and North America).

Global outlook of the hybrid electric vehicle market

Technavio’s market research analysts predict the global hybrid electric vehicle market to grow steadily during the next four years and post an impressive CAGR of more than 37% by 2020. This industry research report identifies the introduction of stringent regulations on emissions and fuel efficiency to be one of the major factors that will have a positive impact on the growth of this market in the coming years. To minimize the negative effects of global warming and to reduce GHG emissions, governments of several countries across the globe have started introducing stringent emission norms. For instance, the European Union norms of 2009 set CO₂ emission level for new passenger cars at 130g/km. The European Union also introduced the Euro VI norms in 2014, which set the emission of nitrogen oxide below 0.4g/kWh and other emissions under 0.01g/kWh. Analysts predict that the countries such as Australia, Mexico, Russia, and Brazil will also implement stringent emission standards during the coming years, which, in turn, will propel the demand for hybrid vehicles during the estimated period.

In terms of geographical regions, APAC will be the major revenue contributor to the market throughout the next four years. The increasing focus of governments in this region in promoting the adoption of battery electric vehicles and hybrid vehicles coupled with the rising demand for alternative fuel vehicles (AFV), will drive the prospects for market growth in this region. Additionally, the economic growth of emerging countries such as China and India will also result in rapid infrastructure development to support the use of hybrid vehicles.

Competitive landscape and key vendors

The market is characterized by the presence of a considerable number of hybrid electric vehicle manufacturers and is dominated by players such as Toyota, Hyundai, Honda, Ford, and Nissan. The demand for new energy vehicles in countries such as China and Japan and regions such as North America and Europe will propel the growth of the hybrid electric vehicle (HEV) market. This demand will subsequently intensify the level of competition among the market players. Major players such as Toyota and Honda have an enormous geographical presence and consider North America and Europe to be their biggest markets. Manufacturers with a huge product portfolio and global presence will dominate the market in the coming years.

The leading vendors in the market are: 

  • Toyota
  • Hyundai
  • Honda
  • Ford
  • Nissan

The other prominent vendors in the market are Volkswagen, BMW, Chevrolet, Hyundai, Lexus, and Porsche.

Segmentation by degree of hybridization and analysis of the hybrid electric vehicle market

  • Mild HEVs
  • Full HEVs
  • Plug-in Hybrid Electric Vehicles (PHEV)

During 2015, the full HEVs segment accounted for the major market shares and dominated the hybrid electric vehicle market. These electric vehicles reduce fuel consumption by almost 40% and have an increased torque since the wheels are powered by the engine and the battery. Factors such as the declining cost of Li-ion batteries, the introduction of new vehicles, and rising promotional activities by HEV manufacturers will drive the growth of this market segment.

Segmentation by type of vehicle and analysis of the hybrid electric vehicle market

  • Commercial
  • Luxury sedan
  • SUV
  • Mid-luxury
  • Entry-level

According to this market study, the entry-level HEVs will account for the major market shares throughout the next four years. The increasing charging infrastructure for PHEVs and the availability of a wide range of models will bolster the market’s growth prospects in this segment.

Key questions answered in the report include

  • What will the hybrid electric vehicle market size and growth rate be in 2020?
  • What are the key factors driving the global hybrid electric vehicle market?
  • What are the key market trends impacting the growth of the global hybrid electric vehicle market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global hybrid electric vehicle market?
  • What are the market opportunities and threats faced by the vendors in the global hybrid electric vehicle market?
  • Trending factors influencing the market shares of APAC, Europe, and North America.
  • What are the key outcomes of the five forces analysis of the global hybrid electric vehicle market?

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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