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Hybrid Electric Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global hybrid electric vehicle market reached a volume of 4 Million Units in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 35% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

A hybrid electric vehicle (HEV) is an automobile that runs on the energy stored in batteries. It operates on the combination of an internal combustion engine and an electric propulsion system. The battery is charged using regenerative braking that converts the energy, which is lost during coasting and braking into electricity. In comparison to combustion engine-based automobiles, HEVs have lower fuel consumption, carbon-based emissions and maintenance costs, which make them more cost-effective even at low speeds.

Hybrid Electric Vehicle Market Trends:

The increasing demand for fuel-efficient automobiles across the globe is one of the key factors driving the market. Furthermore, growing environmental consciousness among consumers is also providing a boost to the market growth. This has led to an increased emphasis on the development of innovative designs and advanced technologies to produce zero- and low-emission vehicles with soundless operations and high-performance engines. Additionally, the implementation of favourable government initiatives promoting the adoption of electric vehicles (EVs) for sustainable development is also creating a positive outlook for the market. For instance, various incentives, including tax benefits, utility rate reductions, parking privileges and other rebates, are offered to consumers to enhance the adoption rates of HEVs. Apart from this, improvements in the EV charging infrastructure are leading to increased investments by power sector stakeholders in automobile utilities and charging hardware. Other factors, including rapid urbanization, rising disposable incomes and extensive research and development (R&D) activities, are projected to drive the market in the upcoming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global hybrid electric vehicle market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on propulsion type, configuration type, vehicle type and power source.

Breakup by Propulsion Type:

  • Full Hybrids
  • Mild Hybrids
  • Plug-in Hybrids
  • Others
     

Breakup by Configuration Type:

  • Series HEV
  • Parallel HEV
  • Combination HEV
     

Breakup by Vehicle Type:

  • Passenger Cars
  • Commercial Vehicles
  • Two Wheelers
  • Others
     

Breakup by Power Source:

  • Stored Electricity
  • On Board Electric Generator
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Toyota Motor Corporation, Honda Motor Co. Ltd., Ford Motor Company, Volkswagen Aktiengesellschaft, General Motors Company, Hyundai Motor Company, Nissan Motor Corporation Ltd., etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
Units Million Units, US$ Billion
Segment Coverage Propulsion Type, Configuration Type, Vehicle Type, Power Source, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Toyota Motor Corporation, Honda Motor Co. Ltd., Ford Motor Company, Volkswagen Aktiengesellschaft, General Motors Company, Hyundai Motor Company and Nissan Motor Corporation Ltd
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Key Questions Answered in This Report:

  • How has the global hybrid electric vehicle market performed so far and how will it perform in the coming years?
  • What are the key regional markets?
  • What has been the impact of COVID-19 on the global hybrid electric vehicle market?
  • What is the breakup of the market based on the propulsion type?
  • What is the breakup of the market based on the configuration type?
  • What is the breakup of the market based on the vehicle type?
  • What is the breakup of the market based on the power source?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global hybrid electric vehicle market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Hybrid Electric Vehicle Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Propulsion Type
    6.1    Full Hybrids
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Mild Hybrids
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Plug-in Hybrids
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Others
        6.4.1 Market Trends
        6.4.2 Market Forecast
7    Market Breakup by Configuration Type
    7.1    Series HEV
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Parallel HEV
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Combination HEV
        7.3.1 Market Trends
        7.3.2 Market Forecast
8    Market Breakup by Vehicle Type
    8.1    Passenger Cars 
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Commercial Vehicles
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Two-Wheelers
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Others
        8.4.1 Market Trends
        8.4.2 Market Forecast
9    Market Breakup by Power Source
    9.1    Stored Electricity
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    On Board Electric Generator
        9.2.1 Market Trends
        9.2.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Indicators
15    Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Toyota Motor Corporation
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio 
           15.3.1.3 Financials
           15.3.1.4 SWOT Analysis
        15.3.2    Honda Motor Co. Ltd.
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio 
           15.3.2.3 Financials
           15.3.2.4 SWOT Analysis
        15.3.3    Ford Motor Company
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio 
           15.3.3.3 Financials
           15.3.3.4 SWOT Analysis
        15.3.4    Volkswagen Aktiengesellschaft
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio 
           15.3.4.3 Financials
           15.3.4.4 SWOT Analysis
        15.3.5    General Motors Company
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio 
           15.3.5.3 Financials
           15.3.5.4 SWOT Analysis
        15.3.6    Hyundai Motor Company
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio 
           15.3.6.3 Financials
           15.3.6.4 SWOT Analysis
        15.3.7    Nissan Motor Corporation Ltd.
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio 
           15.3.7.3 Financials
           15.3.7.4 SWOT Analysis

List of Figures

Figure 1: Global: Hybrid Electric Vehicle Market: Major Drivers and Challenges
Figure 2: Global: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015-2020
Figure 3: Global: Hybrid Electric Vehicle Market: Sales Value (in Billion US$), 2015-2020
Figure 4: Global: Hybrid Electric Vehicle Market: Breakup by Propulsion Type (in %), 2020
Figure 5: Global: Hybrid Electric Vehicle Market: Breakup by Configuration Type (in %), 2020
Figure 6: Global: Hybrid Electric Vehicle Market: Breakup by Vehicle Type (in %), 2020
Figure 7: Global: Hybrid Electric Vehicle Market: Breakup by Power Source (in %), 2020
Figure 8: Global: Hybrid Electric Vehicle Market: Breakup by Region (in %), 2020
Figure 9: Global: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 10: Global: Hybrid Electric Vehicle Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 11: Global: Hybrid Electric Vehicle (Full Hybrids) Market: Sales Volume (in Million Units), 2015 & 2020
Figure 12: Global: Hybrid Electric Vehicle (Full Hybrids) Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 13: Global: Hybrid Electric Vehicle (Mild Hybrids) Market: Sales Volume (in Million Units), 2015 & 2020
Figure 14: Global: Hybrid Electric Vehicle (Mild Hybrids) Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 15: Global: Hybrid Electric Vehicle (Plug-in Hybrids) Market: Sales Volume (in Million Units), 2015 & 2020
Figure 16: Global: Hybrid Electric Vehicle (Plug-in Hybrids) Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 17: Global: Hybrid Electric Vehicle (Others) Market: Sales Volume (in Million Units), 2015 & 2020
Figure 18: Global: Hybrid Electric Vehicle (Others) Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 19: Global: Hybrid Electric Vehicle (Series HEV) Market: Sales Volume (in Million Units), 2015 & 2020
Figure 20: Global: Hybrid Electric Vehicle (Series HEV) Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 21: Global: Hybrid Electric Vehicle (Parallel HEV) Market: Sales Volume (in Million Units), 2015 & 2020
Figure 22: Global: Hybrid Electric Vehicle (Parallel HEV) Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 23: Global: Hybrid Electric Vehicle (Combination HEV) Market: Sales Volume (in Million Units), 2015 & 2020
Figure 24: Global: Hybrid Electric Vehicle (Combination HEV) Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 25: Global: Hybrid Electric Vehicle (Passenger Cars) Market: Sales Volume (in Million Units), 2015 & 2020
Figure 26: Global: Hybrid Electric Vehicle (Passenger Cars) Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 27: Global: Hybrid Electric Vehicle (Commercial Vehicles) Market: Sales Volume (in Million Units), 2015 & 2020
Figure 28: Global: Hybrid Electric Vehicle (Commercial Vehicles) Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 29: Global: Hybrid Electric Vehicle (Two Wheelers) Market: Sales Volume (in Million Units), 2015 & 2020
Figure 30: Global: Hybrid Electric Vehicle (Two Wheelers) Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 31: Global: Hybrid Electric Vehicle (Others) Market: Sales Volume (in Million Units), 2015 & 2020
Figure 32: Global: Hybrid Electric Vehicle (Others) Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 33: Global: Hybrid Electric Vehicle (Stored Electricity) Market: Sales Volume (in Million Units), 2015 & 2020
Figure 34: Global: Hybrid Electric Vehicle (Stored Electricity) Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 35: Global: Hybrid Electric Vehicle (On Board Electric Generator) Market: Sales Volume (in Million Units), 2015 & 2020
Figure 36: Global: Hybrid Electric Vehicle (On Board Electric Generator) Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 37: North America: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 38: North America: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 39: United States: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 40: United States: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 41: Canada: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 42: Canada: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 43: Asia Pacific: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 44: Asia Pacific: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 45: China: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 46: China: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 47: Japan: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 48: Japan: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 49: India: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 50: India: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 51: South Korea: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 52: South Korea: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 53: Australia: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 54: Australia: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 55 Indonesia: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 56: Indonesia: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 57: Others: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 58: Others: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 59: Europe: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 60: Europe: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 61: Germany: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 62: Germany: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 63: France: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 64: France: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 65: United Kingdom: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 66: United Kingdom: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 67: Italy: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 68: Italy: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 69: Spain: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 70: Spain: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 71: Russia: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 72: Russia: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 73: Others: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 74: Others: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 75: Latin America: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 76: Latin America: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 77: Brazil: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 78: Brazil: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 79: Mexico: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 80: Mexico: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 81: Others: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 82: Others: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 83: Middle East and Africa: Hybrid Electric Vehicle Market: Sales Volume (in Million Units), 2015 & 2020
Figure 84: Middle East and Africa: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Million Units), 2021-2026
Figure 85: Global: Hybrid Electric Vehicle Industry: SWOT Analysis
Figure 86: Global: Hybrid Electric Vehicle Industry: Value Chain Analysis
Figure 87: Global: Hybrid Electric Vehicle Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Hybrid Electric Vehicle Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Hybrid Electric Vehicle Market Forecast: Breakup by Propulsion Type (in Million Units), 2021-2026
Table 3: Global: Hybrid Electric Vehicle Market Forecast: Breakup by Configuration Type (in Million Units), 2021-2026
Table 4: Global: Hybrid Electric Vehicle Market Forecast: Breakup by Vehicle Type (in Million Units), 2021-2026
Table 5: Global: Hybrid Electric Vehicle Market Forecast: Breakup by Power Source (in Million Units), 2021-2026
Table 6: Global: Hybrid Electric Vehicle Market Forecast: Breakup by Region (in Million Units), 2021-2026
Table 7: Global: Hybrid Electric Vehicle Market: Competitive Structure
Table 8: Global: Hybrid Electric Vehicle Market: Key Players 

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