Hybrid Ev Battery Market
Hybrid EV Battery Market Forecasts to 2030 - Global Analysis By Battery Type (Lithium-ion (Li-ion) Batteries, Nickel-Metal Hydride (NiMH) Batteries, Lead-Acid Batteries, Solid-state Batteries and Other Battery Types), Vehicle Type, Battery Capacity, Powertrain Configuration, Sales Channel, Technology, End User and By Geography
According to Stratistics MRC, the Global Hybrid EV Battery Market is accounted for $12.92 billion in 2024 and is expected to reach $65.27 billion by 2030 growing at a CAGR of 22.4% during the forecast period. A hybrid EV (electric vehicle) battery is a rechargeable energy storage system used in hybrid vehicles that combines internal combustion engines with electric propulsion. It stores and supplies electrical energy to power the vehicle's electric motor, enhancing fuel efficiency and reducing emissions. Their main functions include storing energy recovered during braking and providing additional power during acceleration.
According to the International Energy Agency (IEA), in 2023, China witnessed the highest sales of electric vehicles worldwide, reaching 8.4 million units of sales.
Market Dynamics:
Driver:
Urbanization and traffic regulations
As cities expand and population densities increase, traffic congestion and air pollution become pressing issues, prompting stricter emissions standards and low-emission zones. These regulations encourage the adoption of hybrid vehicles, which offer reduced emissions and improved fuel efficiency compared to traditional internal combustion engines. Consequently, there is a growing need for advanced hybrid EV batteries to support these vehicles, leading to increased market growth and investment in hybrid battery technology and infrastructure.
Restraint:
Limited battery lifespan
Limited battery lifespan in hybrid EV batteries stems from factors such as degradation over time, temperature extremes, and frequent charging cycles. As batteries age, their capacity and performance diminish, leading to reduced vehicle range and efficiency. Consequently, the perceived higher total cost of ownership and potential reliability issues may hamper market growth, as consumers may hesitate to invest in hybrid vehicles if they anticipate frequent and costly battery maintenance or replacement.
Opportunity:
Rising fuel prices
Rising fuel prices increase the cost of operating conventional internal combustion engine vehicles, prompting consumers to seek more cost-effective alternatives. This shift drives demand for hybrid vehicles that offer improved fuel efficiency and lower operating expenses. Hybrid EVs, combining an internal combustion engine with an electric motor, provide a practical solution by reducing fuel consumption and emissions. This economic incentive accelerates the adoption of hybrid technologies and, in turn, boosts the demand for hybrid EV batteries, supporting market growth and innovation in energy storage solutions.
Threat:
Battery recycling and disposal issues
Battery recycling and disposal issues in hybrid EV batteries arise due to the complex materials used, such as lithium, cobalt, and nickel, which require specialized processes for safe handling. Inefficient recycling methods and inadequate disposal infrastructure lead to environmental concerns and increased costs. Moreover, the lack of a robust recycling system can deter consumers and businesses from investing in hybrid technologies, slowing overall adoption and market expansion.
Covid-19 Impact
The covid-19 pandemic impacted the hybrid EV battery market by disrupting supply chains, delaying production, and increasing raw material costs. It led to decreased vehicle sales and investments in the short term due to economic uncertainties. However, the pandemic also accelerated the push for cleaner technologies and increased environmental awareness, driving renewed interest and investments in hybrid and electric vehicles post-pandemic. The market is rebounding as governments and consumers focus on sustainability and recovery.
The advanced hybrid technology segment is expected to be the largest during the forecast period
The advanced hybrid technology segment is anticipated to register the largest market share. Advanced hybrid technology in hybrid EV batteries involves innovations that enhance energy efficiency, performance, and longevity. Key developments include high-density lithium-ion batteries, fast-charging capabilities, and sophisticated energy management systems that optimize power usage and regenerative braking. These advancements improve fuel economy and reduce emissions while extending battery life.
The two-wheelers segment is expected to have the highest CAGR during the forecast period
The two-wheelers segment is anticipated to witness the highest CAGR during the forecast period. Hybrid EV batteries in two-wheelers enhance fuel efficiency and reduce emissions by integrating electric propulsion with a conventional engine. These batteries offer improved energy density and performance, contributing to extended range and lower operating costs for motorcycles and scooters. They are particularly beneficial in urban environments, where frequent stop-and-go traffic can optimize battery use.
Region with largest share:
Asia Pacific is expected to have the largest market share during the forecast period due to growing environmental awareness and supportive government policies promoting cleaner transportation. Major economies like China, Japan, and South Korea are leading in hybrid vehicle adoption and battery innovation. The region benefits from a robust manufacturing base, advancements in battery technology, and increasing investments in electric mobility infrastructure. Rising fuel prices and urbanization are further driving demand for hybrid vehicles, making Asia-Pacific a key growth area for hybrid EV batteries.
Region with highest CAGR:
North America is projected to witness the highest CAGR over the forecast period, owing to driven by increasing environmental regulations and consumer demand for fuel-efficient vehicles. The United States and Canada are at the forefront, with strong government incentives and a growing network of charging infrastructure supporting hybrid vehicle adoption. Technological advancements in battery efficiency and performance are further fueling market expansion. The region's focus on sustainability and reducing carbon emissions is accelerating the shift towards hybrid and electric mobility solutions.
Key players in the market
Some of the key players profiled in the Hybrid EV Battery Market include Panasonic, LG Energy Solution, Samsung SDI, CATL (Contemporary Amperex Technology Co. Limited), BYD, A123 Systems, Northvolt, Gotion High-Tech, Svolt Energy, Toshiba, Johnson Controls, Hitachi Chemical, Saft, SK Innovation, Wanxiang A123 and Hyundai Motor Company.
Key Developments:
In September 2024, Hyundai Motor Company introduced a new strategic framework called the ""Hyundai Way."" This strategy is designed to position Hyundai as a leader in the rapidly evolving automotive industry focused on hybrid technology. This includes initiatives related to community engagement, environmental protection, and promoting ethical business practices.
In May 2024, BYD, a leading Chinese electric vehicle (EV) manufacturer, unveiled its latest generation of plug-in hybrid technology. This new technology has achieved a notable milestone in fuel efficiency, recording an impressive 2.9 liters per 100 kilometers (62.1 miles) when the vehicle's batteries are depleted. These improvements contribute to lower overall fuel consumption and extended driving range.
Battery Types Covered:
• Lithium-ion (Li-ion) Batteries
• Nickel-Metal Hydride (NiMH) Batteries
• Lead-Acid Batteries
• Solid-state Batteries
• Other Battery Types
Vehicle Types Covered:
• Full Hybrid Electric Vehicles (FHEVs)
• Plug-in Hybrid Electric Vehicles (PHEVs)
• Mild Hybrid Electric Vehicles (MHEVs)
• Extended Range Electric Vehicles (EREVs)
• Other Vehicle Types
Battery Capacities Covered:
• Low-Capacity Batteries
• Medium-Capacity Batteries
• High-Capacity Batteries
Powertrain Configurations Covered:
• Series Hybrid
• Parallel Hybrid
• Series-Parallel Hybrid
Sales Channels Covered:
• Original Equipment Manufacturer (OEM)
• Aftermarket
Technologies Covered:
• Conventional Hybrid Technology
• Advanced Hybrid Technology
End Users Covered:
• Automotive
• Two-Wheelers
• Public Transport
• Specialty Vehicles
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Hybrid EV Battery Market, By Battery Type
5.1 Introduction
5.2 Lithium-ion (Li-ion) Batteries
5.3 Nickel-Metal Hydride (NiMH) Batteries
5.4 Lead-Acid Batteries
5.5 Solid-state Batteries
5.6 Other Battery Types
6 Global Hybrid EV Battery Market, By Vehicle Type
6.1 Introduction
6.2 Full Hybrid Electric Vehicles (FHEVs)
6.3 Plug-in Hybrid Electric Vehicles (PHEVs)
6.4 Mild Hybrid Electric Vehicles (MHEVs)
6.5 Extended Range Electric Vehicles (EREVs)
6.6 Other Vehicle Types
7 Global Hybrid EV Battery Market, By Battery Capacity
7.1 Introduction
7.2 Low-Capacity Batteries
7.3 Medium-Capacity Batteries
7.4 High-Capacity Batteries
8 Global Hybrid EV Battery Market, By Powertrain Configuration
8.1 Introduction
8.2 Series Hybrid
8.3 Parallel Hybrid
8.4 Series-Parallel Hybrid
9 Global Hybrid EV Battery Market, By Sales Channel
9.1 Introduction
9.2 Original Equipment Manufacturer (OEM)
9.3 Aftermarket
10 Global Hybrid EV Battery Market, By Technology
10.1 Introduction
10.2 Conventional Hybrid Technology
10.3 Advanced Hybrid Technology
11 Global Hybrid EV Battery Market, By End User
11.1 Introduction
11.2 Automotive
11.3 Two-Wheelers
11.4 Public Transport
11.5 Specialty Vehicles
11.6 Other End Users
12 Global Hybrid EV Battery Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 Panasonic
14.2 LG Energy Solution
14.3 Samsung SDI
14.4 CATL (Contemporary Amperex Technology Co. Limited)
14.5 BYD
14.6 A123 Systems
14.7 Northvolt
14.8 Gotion High-Tech
14.9 Svolt Energy
14.10 Toshiba
14.11 Johnson Controls
14.12 Hitachi Chemical
14.13 Saft
14.14 SK Innovation
14.15 Wanxiang A123
14.16 Hyundai Motor Company
List of Tables
1 Global Hybrid EV Battery Market Outlook, By Region (2022-2030) ($MN)
2 Global Hybrid EV Battery Market Outlook, By Battery Type (2022-2030) ($MN)
3 Global Hybrid EV Battery Market Outlook, By Lithium-ion (Li-ion) Batteries (2022-2030) ($MN)
4 Global Hybrid EV Battery Market Outlook, By Nickel-Metal Hydride (NiMH) Batteries (2022-2030) ($MN)
5 Global Hybrid EV Battery Market Outlook, By Lead-Acid Batteries (2022-2030) ($MN)
6 Global Hybrid EV Battery Market Outlook, By Solid-state Batteries (2022-2030) ($MN)
7 Global Hybrid EV Battery Market Outlook, By Other Battery Types (2022-2030) ($MN)
8 Global Hybrid EV Battery Market Outlook, By Vehicle Type (2022-2030) ($MN)
9 Global Hybrid EV Battery Market Outlook, By Full Hybrid Electric Vehicles (FHEVs) (2022-2030) ($MN)
10 Global Hybrid EV Battery Market Outlook, By Plug-in Hybrid Electric Vehicles (PHEVs) (2022-2030) ($MN)
11 Global Hybrid EV Battery Market Outlook, By Mild Hybrid Electric Vehicles (MHEVs) (2022-2030) ($MN)
12 Global Hybrid EV Battery Market Outlook, By Extended Range Electric Vehicles (EREVs) (2022-2030) ($MN)
13 Global Hybrid EV Battery Market Outlook, By Other Vehicle Types (2022-2030) ($MN)
14 Global Hybrid EV Battery Market Outlook, By Battery Capacity (2022-2030) ($MN)
15 Global Hybrid EV Battery Market Outlook, By Low-Capacity Batteries (2022-2030) ($MN)
16 Global Hybrid EV Battery Market Outlook, By Medium-Capacity Batteries (2022-2030) ($MN)
17 Global Hybrid EV Battery Market Outlook, By High-Capacity Batteries (2022-2030) ($MN)
18 Global Hybrid EV Battery Market Outlook, By Powertrain Configuration (2022-2030) ($MN)
19 Global Hybrid EV Battery Market Outlook, By Sales Channel (2022-2030) ($MN)
20 Global Hybrid EV Battery Market Outlook, By Original Equipment Manufacturer (OEM) (2022-2030) ($MN)
21 Global Hybrid EV Battery Market Outlook, By Aftermarket (2022-2030) ($MN)
22 Global Hybrid EV Battery Market Outlook, By Technology (2022-2030) ($MN)
23 Global Hybrid EV Battery Market Outlook, By Conventional Hybrid Technology (2022-2030) ($MN)
24 Global Hybrid EV Battery Market Outlook, By Advanced Hybrid Technology (2022-2030) ($MN)
25 Global Hybrid EV Battery Market Outlook, By End User (2022-2030) ($MN)
26 Global Hybrid EV Battery Market Outlook, By Automotive (2022-2030) ($MN)
27 Global Hybrid EV Battery Market Outlook, By Two-Wheelers (2022-2030) ($MN)
28 Global Hybrid EV Battery Market Outlook, By Public Transport (2022-2030) ($MN)
29 Global Hybrid EV Battery Market Outlook, By Specialty Vehicles (2022-2030) ($MN)
30 Global Hybrid EV Battery Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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