Enjoy complimentary customisation on priority with our Enterprise License!
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:
Download the Free Report Sample to Unlock the Hybrid Vehicle Market Size for the Forecast Period and Other Important Statistics
For more insights on the market share of various regions Request for a FREE sample now!
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.
To gain further insights on the market contribution of various segments Request for a FREE sample
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.
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
Key Hybrid Vehicle Market Trend
Key Hybrid Vehicle Market Challenge
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.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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.
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.
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.
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 Electric Vehicle market - The market share has the potential to grow by 11347.27 thousand units during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 32.83%.
|
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 |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Vehicle Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
