Plug-in Hybrid Electric Vehicles Market, Plug-in Hybrid Electric Vehicles Market Size, Plug-in Hybrid Electric Vehicles Market Share, Plug-in Hybrid Electric Vehicles Market Growth, Plug-in Hybrid Electric Vehicles Market Demand, Plug-in Hybrid Electric V

Plug-in Hybrid Electric Vehicles Market, Plug-in Hybrid Electric Vehicles Market Size, Plug-in Hybrid Electric Vehicles Market Share, Plug-in Hybrid Electric Vehicles Market Growth, Plug-in Hybrid Electric Vehicles Market Demand, Plug-in Hybrid Electric Vehicles Market Trends, Plug-in Hybrid Electric Vehicles Market Revenue, Fairfield Market Research

Plug-in Hybrid Electric Vehicles (PHEVs) are gaining momentum in the automotive industry as they offer a viable solution for reducing greenhouse gas emissions while providing increased fuel efficiency and longer driving ranges. Leading manufacturers are focusing on ""greening up the grid"" and utilizing existing electricity infrastructure to make PHEVs more convenient and cost-effective.

According to a recent study by Fairfield Market Research, the PHEV market is poised for significant growth over the next decade, with an estimated 100 new PHEV models to be launched by 2025, resulting in approximately 3.7 million units sold. This transformational growth will be driven by consumer attraction to alternative fuel vehicles.

Luxury automakers like Mercedes Benz, BMW, and Volkswagen are shifting their focus toward hybrid technology to meet stringent emission targets. Research centers and collaborations between utilities, regulators, automakers, and research institutes are working together to develop a sustainable market for PHEVs.

However, awareness and adoption of PHEV technology remain limited among the general population, with concerns about battery life, replacement costs, and recharging time. To address this, manufacturers are partnering with retail car dealers to educate and inform customers, building competence and trust in PHEVs.

Europe is expected to be the fastest-expanding market for PHEVs through 2022, while Asia-Pacific excluding Japan (APEJ) will remain the largest market, with sales exceeding US$ 8,000 million by 2022. In contrast, the Middle East & Africa (MEA) is projected to be the least lucrative market for PHEVs.

Sales of stored electricity PHEVs are predicted to outpace on-board electric generator PHEVs, accounting for over three-fourths of the market's revenue share through 2022. Parallel hybrid PHEVs are expected to be the most sought-after powertrain type, with a high double-digit CAGR in sales.

Passenger cars will dominate the global PHEV market, accounting for over half of the revenue share during the forecast period, while two-wheeler PHEVs will see robust growth in sales through 2022.

Key participants in the global PHEV market include Renault SA, Nissan Motor Corporation, Volkswagen AG, Honda Motor Company, General Motors, Ford Motor Company, Daimler AG, Bayerische Motoren Werke AG, Mitsubishi Heavy Industries Ltd., and Toyota Motor Corporation.

Market Segmentation

Power Source
• Stored Electricity
• On Board Electric Generator

Powertrain
• Series Hybrid
• Parallel Hybrid
• Combined Hybrid

Vehicle Type
• Passenger Cars
• Commercial Vehicles
• Two Wheelers
• Others (Golf Cart etc.)

Region
• North Americ
• Latin America
• Europe
• Japan
• APEJ
• MEA

Please note: The PDF e-mail from publisher version of this report is for a global site license. Delivery Timelines - 5 working days.