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Hybrid Vehicle Market by Vehicle Type and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 132
  • SKU: IRTNTR73400
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The hybrid vehicle market share is expected to reach an estimated USD 722.82 billion by 2026 at an accelerating CAGR of 26.37%. The hybrid vehicle market vendors are - Bayerische Motoren Werke AG, BYD Co. Ltd., Ford Motor Co., Honda Motor Co. Ltd., Hyundai Motor Co., Mercedes Benz Group AG, Mitsubishi Motors Corp., Nissan Motor Co. Ltd., Renault sas, Stellantis NV, Suzuki Motor Corp., Toyota Motor Corp., Volkswagen AG, and Volvo Car Corp. among others. Furthermore, this hybrid vehicle market research report extensively covers hybrid vehicle market segmentation by:

  • Vehicle Type - Passenger cars, Light commercial vehicles, and Heavy commercial vehicles
  • Geography - APAC, North America, Europe, Middle East and Africa, and South America

What will the Hybrid Vehicle Market Size be During the Forecast Period?

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Which are the Key Regions for Hybrid Vehicle Market?

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42% of the market’s growth will originate from APAC during the forecast period. Japan, South Korea, and China are the key markets for hybrid vehicles in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Significant infrastructure and industrialization developments have resulted in a significant demand for electric vehicles (EVs) in APAC. India, China, and Japan are predicted to account for the bulk of new vehicle purchases globally in the upcoming year. This will facilitate the hybrid vehicle market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, owing to the COVID-19 pandemic, the production of automobiles and related components was temporarily stopped or reduced to prevent community transmission through social gatherings. The reduced production by automobile component suppliers led to a supply-demand imbalance, which continued until the end of 2020. During the first half of 2021, with the gradual decrease in the number of COVID-19 cases and the lifting of nationwide lockdowns, factories and manufacturing units were reopened due to the initiation of the COVID-19 vaccination drive. The increase in the sales of passenger vehicles to avoid public transport will drive the market growth during the forecast period.

What are the Revenue-generating Vehicle Type Segments in the Hybrid Vehicle Market?

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The hybrid vehicle market share growth by the passenger cars segment will be significant during the forecast period. The passenger cars segment accounted for a majority of the share in the global hybrid vehicle market. This is due to the dominance of passenger cars in the automotive industry. Moreover, the major factor which is driving the growth of the passenger car segment in the global hybrid vehicle market is the implementation of stringent emission and fuel economy norms and government incentives for promoting the purchase and adoption of hybrid vehicles.

This report provides an accurate prediction of the contribution of all the segments to the growth of the hybrid vehicle market size and actionable market insights on post COVID-19 impact on each segment.

Hybrid Vehicle Market: Key Drivers, Trends, and Challenges

The stringent emission control is notably driving the hybrid vehicle market growth, although factors such as rising demand for BEVs and FCEVs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hybrid vehicle industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Hybrid Vehicle Market Driver

  • One of the key factors driving growth in the hybrid vehicle market is the stringent emission control.
  • The increasing concerns over environmental pollution have led to more stringent regulations on emissions by the US and European countries.
  • The US EPA has revised its emission regulations for vehicles. Changes in the emission regulations fuel the global hybrid vehicle market, as these cars comply with new regulations. 
  • The growing awareness among consumers about environmental protection and the stringent emission regulations implemented by regulatory bodies is forcing OEMs to manufacture hybrid and electric vehicles as they emit fewer greenhouse gases than gasoline and diesel vehicles.
  • Governments of countries in the Gulf region and more specifically Israel, Oman, Saudi Arabia, and the UAE, have launched the electric and hybrid modes of transport. These factors will drive the growth of the market in focus during the forecast period.

Key Hybrid Vehicle Market Trend

  • The recent developments is a hybrid vehicle market trend that is expected to have a positive im[act in the coming years.
  • In March 2021, Nissan was working on a mild-hybrid GT-R model, which is expected to launch by the end of 2022. This GT-R would have a 48-volt mild-hybrid system likely to be paired with the current GT-R's 3.8-litre twin-turbocharged V6 engine.
  • In October 2021, Mercedes-Benz unveiled its two models, GLE and GLE Coupe, as mild diesel hybrids. They are powered by a four-cylinder diesel engine (OM 654 M) with an integrated second-generation starter-generator (ISG) that produces 200 kW/272 horsepower. 
  • In October 2020, BMW AG announced it would launch 25 hybrid electric vehicle models worldwide by 2023. 
  • In August 2020, Paice, a hybrid vehicle technology provider, announced it had signed an agreement to license its patented hybrid technology to Mitsubishi Motors. These factors will propel the demand for hybrid vehicles.

Key Hybrid Vehicle Market Challenge

  • The rising demand for BEVs and FCEVs will be a major challenge for the hybrid vehicle market during the forecast period.
  • In the passenger car category, there are several models and types of BEVs, including hatchbacks, sedans, and Sport utility vehicles (SUVs).
  • Automotive manufacturers such as BYD Auto Co., Ltd (China), Tesla Inc. (US), and Volkswagen AG (Germany) are focusing more on the development of BEVs.
  • The benefits of FCEVs include a long driving range, quick refueling, quiet operation, and zero emissions of greenhouse gases and air pollutants. These advantages are increasing the demand for FCEVs.
  • Governments are taking measures and encouraging fuel cells for transportation, which is increasing the demand for fuel cells in the automotive and transportation industries. Such factors are expected to hamper the growth of the global hybrid vehicle market.

This hybrid vehicle market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Hybrid Vehicle Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Bayerische Motoren Werke AG
  • BYD Co. Ltd.
  • Ford Motor Co.
  • Honda Motor Co. Ltd.
  • Hyundai Motor Co.
  • Mercedes Benz Group AG
  • Mitsubishi Motors Corp.
  • Nissan Motor Co. Ltd.
  • Renault sas
  • Stellantis NV
  • Suzuki Motor Corp.
  • Toyota Motor Corp.
  • Volkswagen AG
  • Volvo Car Corp.

 

This statistical study of the hybrid vehicle market encompasses successful business strategies deployed by the key vendors. The hybrid vehicle market is concentrated and the vendors are deploying growth strategies such as focusing on acquiring other small brands to increase their market presence to compete in the market.

Product Insights and News

  • bmwgroup.com - The company offers hybrid vehicles such as i8 Hybrid, 3 Series Hybrid, 5 Series Hybrid.

  • bmwgroup.com - Under the automotive segment, the company offers an extensive range of automobiles, including the premium compact class, the premium mid-size luxury class and the ultra-luxury class.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The hybrid vehicle market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Parent Market Analysis

Technavio categorizes the global hybrid vehicle market as a part of the global automotive market under the global automobiles and components industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hybrid vehicle market during the forecast period.

Hybrid Vehicle Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the hybrid vehicle market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

 

Hybrid Vehicle Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 26.37%

Market growth 2022-2026

$ 722.82 billion

Market structure

Concentrated

YoY growth (%)

25.36

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 42%

Key consumer countries

US, Japan, China, South Korea, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Bayerische Motoren Werke AG, BYD Co. Ltd., Ford Motor Co., Honda Motor Co. Ltd., Hyundai Motor Co., Mercedes Benz Group AG, Mitsubishi Motors Corp., Nissan Motor Co. Ltd., Renault sas, Stellantis NV, Suzuki Motor Corp., Toyota Motor Corp., Volkswagen AG, and Volvo Car Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Hybrid Vehicle Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive hybrid vehicle market growth during the next five years
  • Precise estimation of the hybrid vehicle market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the hybrid vehicle industry across APAC, North America, Europe, Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of hybrid vehicle market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Vehicle Type
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Vehicle Type

    • 5.1 Market segments
      • Exhibit 24: Chart on Vehicle Type - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Vehicle Type - Market share 2021-2026 (%)
    • 5.2 Comparison by Vehicle Type
      • Exhibit 26: Chart on Comparison by Vehicle Type
      • Exhibit 27: Data Table on Comparison by Vehicle Type
    • 5.3 Passenger cars - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Passenger cars - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 29: Data Table on Passenger cars - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 30: Chart on Passenger cars - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Passenger cars - Year-over-year growth 2021-2026 (%)
    • 5.4 Light commercial vehicles - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Light commercial vehicles - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 33: Data Table on Light commercial vehicles - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 34: Chart on Light commercial vehicles - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Light commercial vehicles - Year-over-year growth 2021-2026 (%)
    • 5.5 Heavy commercial vehicles - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Heavy commercial vehicles - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 37: Data Table on Heavy commercial vehicles - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 38: Chart on Heavy commercial vehicles - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Heavy commercial vehicles - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by Vehicle Type
      • Exhibit 40: Market opportunity by Vehicle Type ($ billion)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 Japan - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Japan - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 71: Data Table on Japan - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 72: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.10 China - Market size and forecast 2021-2026
      • Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.11 Germany - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.12 South Korea - Market size and forecast 2021-2026
      • Exhibit 82: Chart on South Korea - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 83: Data Table on South Korea - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 84: Chart on South Korea - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on South Korea - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ billion)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 Bayerische Motoren Werke AG
              • Exhibit 93: Bayerische Motoren Werke AG - Overview
              • Exhibit 94: Bayerische Motoren Werke AG - Business segments
              • Exhibit 95: Bayerische Motoren Werke AG - Key news
              • Exhibit 96: Bayerische Motoren Werke AG - Key offerings
              • Exhibit 97: Bayerische Motoren Werke AG - Segment focus
            • 10.4 Ford Motor Co.
              • Exhibit 98: Ford Motor Co. - Overview
              • Exhibit 99: Ford Motor Co. - Business segments
              • Exhibit 100: Ford Motor Co. - Key news
              • Exhibit 101: Ford Motor Co. - Key offerings
              • Exhibit 102: Ford Motor Co. - Segment focus
            • 10.5 Honda Motor Co. Ltd.
              • Exhibit 103: Honda Motor Co. Ltd. - Overview
              • Exhibit 104: Honda Motor Co. Ltd. - Business segments
              • Exhibit 105: Honda Motor Co. Ltd. - Key news
              • Exhibit 106: Honda Motor Co. Ltd. - Key offerings
              • Exhibit 107: Honda Motor Co. Ltd. - Segment focus
            • 10.6 Hyundai Motor Co.
              • Exhibit 108: Hyundai Motor Co. - Overview
              • Exhibit 109: Hyundai Motor Co. - Business segments
              • Exhibit 110: Hyundai Motor Co. - Key news
              • Exhibit 111: Hyundai Motor Co. - Key offerings
              • Exhibit 112: Hyundai Motor Co. - Segment focus
            • 10.7 Mercedes Benz Group AG
              • Exhibit 113: Mercedes Benz Group AG - Overview
              • Exhibit 114: Mercedes Benz Group AG - Business segments
              • Exhibit 115: Mercedes Benz Group AG - Key offerings
              • Exhibit 116: Mercedes Benz Group AG - Segment focus
            • 10.8 Mitsubishi Motors Corp.
              • Exhibit 117: Mitsubishi Motors Corp. - Overview
              • Exhibit 118: Mitsubishi Motors Corp. - Business segments
              • Exhibit 119: Mitsubishi Motors Corp. - Key offerings
              • Exhibit 120: Mitsubishi Motors Corp. - Segment focus
            • 10.9 Nissan Motor Co. Ltd.
              • Exhibit 121: Nissan Motor Co. Ltd. - Overview
              • Exhibit 122: Nissan Motor Co. Ltd. - Business segments
              • Exhibit 123: Nissan Motor Co. Ltd. - Key news
              • Exhibit 124: Nissan Motor Co. Ltd. - Key offerings
              • Exhibit 125: Nissan Motor Co. Ltd. - Segment focus
            • 10.10 Toyota Motor Corp.
              • Exhibit 126: Toyota Motor Corp. - Overview
              • Exhibit 127: Toyota Motor Corp. - Business segments
              • Exhibit 128: Toyota Motor Corp. - Key news
              • Exhibit 129: Toyota Motor Corp. - Key offerings
              • Exhibit 130: Toyota Motor Corp. - Segment focus
            • 10.11 Volkswagen AG
              • Exhibit 131: Volkswagen AG - Overview
              • Exhibit 132: Volkswagen AG - Business segments
              • Exhibit 133: Volkswagen AG - Key offerings
              • Exhibit 134: Volkswagen AG - Segment focus
            • 10.12 Volvo Car Corp.
              • Exhibit 135: Volvo Car Corp. - Overview
              • Exhibit 136: Volvo Car Corp. - Business segments
              • Exhibit 137: Volvo Car Corp. - Key offerings
              • Exhibit 138: Volvo Car Corp. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 139: Inclusions checklist
                • Exhibit 140: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 141: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 142: Research methodology
                • Exhibit 143: Validation techniques employed for market sizing
                • Exhibit 144: Information sources
              • 11.5 List of abbreviations
                • Exhibit 145: List of abbreviations

              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
              Technavio

              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
              Technavio

              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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              The hybrid vehicle market growth will increase by $722.82 billion during 2022-2026.
              The hybrid vehicle market is expected to grow at a CAGR of 26.37% during 2022-2026.
              Technavio has segmented the hybrid vehicle market by geographic (APAC, North America, Europe, Middle East and Africa, and South America).
              Bayerische Motoren Werke AG, BYD Co. Ltd., Ford Motor Co., Honda Motor Co. Ltd., Hyundai Motor Co., Mercedes Benz Group AG, Mitsubishi Motors Corp., Nissan Motor Co. Ltd., Renault sas, Stellantis NV, Suzuki Motor Corp., Toyota Motor Corp., Volkswagen AG, Volvo Car Corp. are a few of the key vendors in the hybrid vehicle market.
              APAC will register the highest growth rate of 42.1% among the other regions. Therefore, the hybrid vehicle market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • Japan
              • China
              • South Korea
              • Germany
              The key factors driving the hybrid vehicle market growth are:
              • Stringent emission control
              • Recent developments
              The hybrid vehicle market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
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