Market Overview:
The global hybrid electric vehicles market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for fuel-efficient and environment-friendly vehicles. Additionally, the rising awareness about the benefits of hybrid electric vehicles is also propelling the growth of this market. The global hybrid electric vehicles market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into commercial hybrids, luxury sedan hybrids, SUV hybrids, mid-luxury hybrids, and entry-level hybrids. Commercial applications include buses and trucks while industrial applications comprise forklifts and material handling equipment among others. The other segment includes golf carts and passenger cars used for personal transportation purposes. Regionally speaking North America dominates this market followed by Europe Asia Pacific , Latin America ,and Middle East & Africa .
Product Definition:
A Hybrid Electric Vehicle (HEV) is a type of electric vehicle that combines features of a conventional gasoline-powered vehicle with those of an electric vehicle. HEVs typically have smaller batteries and lighter weight than plug-in electric vehicles, and because their engines are powered by gasoline, they can travel farther than battery-only powered electric vehicles before needing to be recharged. However, HEVs also generate far less emissions than traditional gasoline cars.
Commercial:
Commercial is a type of rechargeable battery used in hybrid electric vehicles. It's usage and growth factor in the market for hybrid electric vehicles depends on various factors such as degree of hybridization, driving style, vehicle electrification level and region. In general, commercial batteries are designed to provide long-lasting power to start an engine or keep the vehicle running for a long distance without any assistance from external sources.
Luxury Sedan:
Luxury sedan is a generic term for a passenger car that offers luxury, comfort and status. Luxury sedans are generally characterized by the presence of high-quality materials such as leather and wood in combination with features such as GPS navigation system, sunroof, DVD player and Bluetooth connectivity. The growing demand for hybrid electric vehicles (HEV) is expected to drive market growth over the forecast period.
Application Insights:
The commercial application segment accounted for the largest revenue share of over 70% in 2017. The segment includes public transport buses, light & heavy-duty trucks, and others such as taxicabs and ride-hailing vehicles. Growing government initiatives to promote the use of hybrid electric vehicles in public transportation are expected to drive demand over the forecast period. For instance, in October 2017, Mitsubishi Electric Corporation announced that it will provide financial subsidies worth USD 14 million to encourage taxi companies around the world to adopt hybrid electric cars as a part of efforts toward improving air quality worldwide.
Hybrid electric passenger cars have been gaining popularity among consumers who prefer driving an eco-friendly vehicle while traveling long distances or across hilly terrains owing to their ability to travel longer on a single charge without requiring refueling like gasoline powered counterparts do.
Regional Analysis:
The Asia Pacific regional market is anticipated to witness significant growth over the forecast period owing to increasing government initiatives for promoting green vehicles and growing demand for improved public transportation. The European region accounted for a major share in 2017, which can be attributed to stringent emission norms and favorable regulations. Moreover, high disposable income of consumers coupled with their preference towards luxury cars is expected to drive the regional market further.
North America held a substantial revenue share in 2017 due to early adoption of hybrid electric vehicles by U.S.-based manufacturers as well as technological advancements associated with enhanced performance and efficiency offered by these vehicles. Furthermore, presence of prominent players such as Tesla Motors Inc., Ford Motor Company, BMW Group Nederland BV, Volkswagen Group Australia Pty Ltd., among others will continue driving the regional market over the forecast period.
Growth Factors:
- Increasing environmental concerns and the need to reduce emissions is expected to drive the demand for HEVs.
- Stringent emission norms by regulatory authorities are also expected to fuel the growth of HEV market.
- The increasing popularity of electric vehicles and government initiatives towards their promotion is likely to boost the sales of hybrid electric vehicles in near future.
- The rising cost of fuel is also anticipated to propel the demand for hybrid electric vehicles as they offer better fuel efficiency as compared gasoline or diesel cars .
Scope Of The Report
Report Attributes
Report Details
Report Title
Hybrid Electric Vehicles Market Research Report
By Type
Commercial, Luxury Sedan, SUV, Mid-Luxury, Entry-Level
By Application
Commercial, Industrial, Others
By Companies
Toyota, Hyundai, Honda, Ford, Nissan, Toyota
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
224
Number of Tables & Figures
157
Customization Available
Yes, the report can be customized as per your need.
Global Hybrid Electric Vehicles Market Report Segments:
The global Hybrid Electric Vehicles market is segmented on the basis of:
Types
Commercial, Luxury Sedan, SUV, Mid-Luxury, Entry-Level
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial, Industrial, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Toyota
- Hyundai
- Honda
- Ford
- Nissan
- Toyota
Highlights of The Hybrid Electric Vehicles Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Commercial
- Luxury Sedan
- SUV
- Mid-Luxury
- Entry-Level
- By Application:
- Commercial
- Industrial
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Hybrid Electric Vehicles Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Hybrid electric vehicles are a type of vehicle that uses both gasoline and electricity to power the engine. The electricity is typically generated by an electric motor, which is combined with a traditional internal combustion engine.
Some of the key players operating in the hybrid electric vehicles market are Toyota, Hyundai, Honda, Ford, Nissan, Toyota.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hybrid Electric Vehicles Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Hybrid Electric Vehicles Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Hybrid Electric Vehicles Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Hybrid Electric Vehicles Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Hybrid Electric Vehicles Market Size & Forecast, 2018-2028
4.5.1 Hybrid Electric Vehicles Market Size and Y-o-Y Growth
4.5.2 Hybrid Electric Vehicles Market Absolute $ Opportunity
Chapter 5 Global Hybrid Electric Vehicles Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Hybrid Electric Vehicles Market Size Forecast by Type
5.2.1 Commercial
5.2.2 Luxury Sedan
5.2.3 SUV
5.2.4 Mid-Luxury
5.2.5 Entry-Level
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Hybrid Electric Vehicles Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Hybrid Electric Vehicles Market Size Forecast by Applications
6.2.1 Commercial
6.2.2 Industrial
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hybrid Electric Vehicles Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Hybrid Electric Vehicles Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Hybrid Electric Vehicles Analysis and Forecast
9.1 Introduction
9.2 North America Hybrid Electric Vehicles Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Hybrid Electric Vehicles Market Size Forecast by Type
9.6.1 Commercial
9.6.2 Luxury Sedan
9.6.3 SUV
9.6.4 Mid-Luxury
9.6.5 Entry-Level
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Hybrid Electric Vehicles Market Size Forecast by Applications
9.10.1 Commercial
9.10.2 Industrial
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Hybrid Electric Vehicles Analysis and Forecast
10.1 Introduction
10.2 Europe Hybrid Electric Vehicles Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Hybrid Electric Vehicles Market Size Forecast by Type
10.6.1 Commercial
10.6.2 Luxury Sedan
10.6.3 SUV
10.6.4 Mid-Luxury
10.6.5 Entry-Level
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Hybrid Electric Vehicles Market Size Forecast by Applications
10.10.1 Commercial
10.10.2 Industrial
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Hybrid Electric Vehicles Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Hybrid Electric Vehicles Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Hybrid Electric Vehicles Market Size Forecast by Type
11.6.1 Commercial
11.6.2 Luxury Sedan
11.6.3 SUV
11.6.4 Mid-Luxury
11.6.5 Entry-Level
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Hybrid Electric Vehicles Market Size Forecast by Applications
11.10.1 Commercial
11.10.2 Industrial
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Hybrid Electric Vehicles Analysis and Forecast
12.1 Introduction
12.2 Latin America Hybrid Electric Vehicles Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Hybrid Electric Vehicles Market Size Forecast by Type
12.6.1 Commercial
12.6.2 Luxury Sedan
12.6.3 SUV
12.6.4 Mid-Luxury
12.6.5 Entry-Level
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Hybrid Electric Vehicles Market Size Forecast by Applications
12.10.1 Commercial
12.10.2 Industrial
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Hybrid Electric Vehicles Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Hybrid Electric Vehicles Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Hybrid Electric Vehicles Market Size Forecast by Type
13.6.1 Commercial
13.6.2 Luxury Sedan
13.6.3 SUV
13.6.4 Mid-Luxury
13.6.5 Entry-Level
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Hybrid Electric Vehicles Market Size Forecast by Applications
13.10.1 Commercial
13.10.2 Industrial
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Hybrid Electric Vehicles Market: Competitive Dashboard
14.2 Global Hybrid Electric Vehicles Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Toyota
14.3.2 Hyundai
14.3.3 Honda
14.3.4 Ford
14.3.5 Nissan
14.3.6 Toyota
