Plug-in Hybrid Electric Vehicles

Plug-in Hybrid Electric Vehicles

Global Plug-in Hybrid Electric Vehicles (PHEV) Market to Reach $35.4 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Plug-in Hybrid Electric Vehicles (PHEV) estimated at US$15 Billion in the year 2020, is projected to reach a revised size of US$35.4 Billion by 2027, growing at aCAGR of 13.1% over the period 2020-2027. Stored Electricity, one of the segments analyzed in the report, is projected to record 13.8% CAGR and reach US$28.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the On-Board Electric Generator segment is readjusted to a revised 10.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $4.3 Billion, While China is Forecast to Grow at 12.3% CAGR

The Plug-in Hybrid Electric Vehicles (PHEV) market in the U.S. is estimated at US$4.3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.1 Billion by the year 2027 trailing a CAGR of 12.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.6% and 11.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9.4% CAGR.

Select Competitors (Total 44 Featured) -

• Bayerische Motoren Werke AG
• Daimler AG
• Ford Motor Company
• General Motors Company
• Groupe PSA
• Groupe Renault
• Honda Motor Co., Ltd.
• Mitsubishi Motors Corporation
• Nissan Motor Corporation Ltd.
• Tesla Motors, Inc.
• Toyota Motor Corporation
• Volkswagen AG

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