Global Hybrid Electric Vehicle Market 2023-2027

Global Hybrid Electric Vehicle Market 2023-2027

Technavio has been monitoring the hybrid electric vehicle market and it is poised to grow by 17098.51 th units during 2023-2027, accelerating at a CAGR of 30.88% during the forecast period. Our report on the hybrid electric vehicle market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the push toward the adoption of green (eco-friendly) vehicles, stringent regulations on emissions and fuel efficiency, and charging infrastructures for PHEV.

Technavio's hybrid electric vehicle market is segmented as below:

By Propulsion

• Full HEVs
• Mild HEVs
• PHEVs

By Vehicle Type

• Passenger cars
• Commercial vehicles

By Geographical Landscape

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

This study identifies the fuel cell HEVs: hydrogen as an upcoming alternative fuel as one of the prime reasons driving the hybrid electric vehicle market growth during the next few years. Also, high-density, high-power, and small-size li-ion batteries and international zero-emission vehicle (ZEV) alliance by countries will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the hybrid electric vehicle market covers the following areas:

• Hybrid electric vehicle market sizing
• Hybrid electric vehicle market forecast
• Hybrid electric vehicle market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading hybrid electric vehicle market vendors that include AB Volvo, Bayerische Motoren Werke AG, BYD Co. Ltd., Chongqing Changan Automobile Co. Ltd., Ford Motor Co., General Motors Co, Honda Motor Co. Ltd, Hyundai Motor Co, Li Auto Inc., Mercedes Benz Group AG, Mitsubishi Motors Corp., Nissan Motor Co. Ltd., Renault SAS, SAIC Motor Corp. Ltd., Stellantis NV, Suzuki Motor Corp., Tata Sons Pvt. Ltd., Toyota Motor Corp., Volkswagen AG, and Zhejiang Geely Holding Group. Also, the hybrid electric vehicle market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.