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Hybrid Vehicle Market

Hybrid Vehicle Market Forecasts to 2028 – Global Analysis By Vehicle Type (Commercial Vehicle, Passenger Car), Propulsion, Degree of Hybridization, Component, Electric Powertrain Type and By Geography

4.2 (89 reviews)
Published: May 2021 ID: SMRC20493
4.2 (89 reviews)
Published: May 2021 ID: SMRC20493

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Hybrid Vehicle Market is accounted for $275.43 billion in 2020 and is expected to reach $1,887.62 billion by 2028 growing at a CAGR of 27.2% during the forecast period. Increasing emission norms, optimum fuel efficiency, and continuous reduction in battery price are the major factors propelling the market growth. However, high vehicle cost, insufficient infrastructure and high development cost are hampering the market growth.

A hybrid vehicle is one that uses two or more distinct types of power, such as submarines that use diesel when surfaced and batteries when submerged. It uses energy stored in batteries where the battery is charged through regenerative braking and by the internal combustion engine. Other means to store energy include pressurized fluid in hydraulic hybrids. The basic principle with hybrid vehicles is that the different motors work better at different speeds. The electric motor is more efficient at producing torque, or turning power, and the combustion engine is better for maintaining high speed (better than a typical electric motor).

Based on electric powertrain type, the parallel hybrid segment is going to have a lucrative growth during the forecast period owing to the increased use of regenerative braking technology. Regenerative braking technology restores the energy to recharge the battery when brakes are applied. Thus, it reduces the requirement for external electric infrastructure. The regenerative braking system is the most commonly used technology in hybrid vehicles. The use of the regenerative braking system and the lesser cost of micro and mild hybrids compared to PHEVs will boost the demand for parallel hybrids.

By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the increased sales of hybrid vehicles in Japan, China, and South Korea. Also, the region is home to major players in the hybrid vehicles market, such as Toyota, Honda, Nissan, Kia, BYD, and Hyundai. Toyota has the highest share in hybrid vehicle sales worldwide. Moreover, governments of Asian countries are supporting the growth by providing subsidies. The mass adoption of hybrid vehicle technology by Japan and China will also boost the market.

Some of the key players profiled in the Hybrid Vehicle Market include Allison Transmission, Inc., BMW AG, BorgWarner, Inc., Continental AG, Cummins, Inc., Daimler AG, Delphi Technologies, Denso Corporation, Eaton Corporation PLC, Ford Motor Company, General Motors Company, Honda Motor Co., Ltd., Hyundai Motor Company, Kia Motors Corporation, Mitsubishi Electric Corporation, Nissan, Robert Bosch GmbH, Schaeffler AG, Toyota Motor Corporation, Volkswagen Group, and ZF Friedrichshafen AG.

Vehicle Types Covered:
• Commercial Vehicle
• Passenger Car

Propulsions Covered:
• Hybrid Electric Vehicle (HEV)
• Natural Gas Vehicle (NGV)
• Plug-in Hybrid Electric Vehicle (PHEV)

Degree of Hybridizations Covered:
• Full Hybrid Vehicle
• Micro-Hybrid
• Mild Hybrid

Components Covered:
• Battery
• Electric Motor
• Transmission

Electric Powertrain Types Covered:
• Parallel Hybrid
• Series Hybrid

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 2019, 2020, 2021, 2025, and 2028
- 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

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 Emerging Markets          
 3.7 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 Vehicle Market, By Vehicle Type        
 5.1 Introduction          
 5.2 Commercial Vehicle         
 5.3 Passenger Car          
             
6 Global Hybrid Vehicle Market, By Propulsion      
   
 6.1 Introduction          
 6.2 Hybrid Electric Vehicle (HEV)         
 6.3 Natural Gas Vehicle (NGV)         
 6.4 Plug-in Hybrid Electric Vehicle (PHEV)        
             
7 Global Hybrid Vehicle Market, By Degree of Hybridization        
 7.1 Introduction          
 7.2 Full Hybrid Vehicle          
 7.3 Micro-Hybrid          
 7.4 Mild Hybrid          
             
8 Global Hybrid Vehicle Market, By Component        
 8.1 Introduction          
 8.2 Battery           
 8.3 Electric Motor          
  8.3.1 Direct Current (DC) /Alternating Current (AC) Converter     
  8.3.2 Direct Current (DC)/Direct Current (DC) Converter      
 8.4 Transmission          
             
9 Global Hybrid Vehicle Market, By Electric Powertrain Type       
 9.1 Introduction          
 9.2 Parallel Hybrid          
 9.3 Series Hybrid          
             
10 Global Hybrid Vehicle Market, By Geography        
 10.1 Introduction          
 10.2 North America          
  10.2.1 US           
  10.2.2 Canada          
  10.2.3 Mexico          
 10.3 Europe           
  10.3.1 Germany          
  10.3.2 UK          
  10.3.3 Italy          
  10.3.4 France          
  10.3.5 Spain          
  10.3.6 Rest of Europe         
 10.4 Asia Pacific          
  10.4.1 Japan          
  10.4.2 China          
  10.4.3 India          
  10.4.4 Australia          
  10.4.5 New Zealand         
  10.4.6 South Korea         
  10.4.7 Rest of Asia Pacific         
 10.5 South America           
  10.5.1 Argentina         
  10.5.2 Brazil          
  10.5.3 Chile          
  10.5.4 Rest of South America        
 10.6 Middle East & Africa         
  10.6.1 Saudi Arabia         
  10.6.2 UAE          
  10.6.3 Qatar          
  10.6.4 South Africa         
  10.6.5 Rest of Middle East & Africa        
             
11 Key Developments           
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures      
 11.2 Acquisitions & Mergers         
 11.3 New Product Launch          
 11.4 Expansions          
 11.5 Other Key Strategies         
             
12 Company Profiling           
 12.1 Allison Transmission, Inc.         
 12.2 BMW AG           
 12.3 BorgWarner, Inc.          
 12.4 Continental AG          
 12.5 Cummins, Inc.          
 12.6 Daimler AG          
 12.7 Delphi Technologies         
 12.8 Denso Corporation          
 12.9 Eaton Corporation PLC         
 12.10 Ford Motor Company         
 12.11 General Motors Company         
 12.12 Honda Motor Co., Ltd.         
 12.13 Hyundai Motor Company         
 12.14 Kia Motors Corporation         
 12.15 Mitsubishi Electric Corporation        
 12.16 Nissan           
 12.17 Robert Bosch GmbH          
 12.18 Schaeffler AG          
 12.19 Toyota Motor Corporation         
 12.20 Volkswagen Group          
 12.21 ZF Friedrichshafen AG         


List of Tables            
1 Global Hybrid Vehicle Market Outlook, By Region (2019-2028) ($MN)      
2 Global Hybrid Vehicle Market Outlook, By Vehicle Type (2019-2028) ($MN)     
3 Global Hybrid Vehicle Market Outlook, By Commercial Vehicle (2019-2028) ($MN)     
4 Global Hybrid Vehicle Market Outlook, By Passenger Car (2019-2028) ($MN)     
5 Global Hybrid Vehicle Market Outlook, By Propulsion (2019-2028) ($MN)      
6 Global Hybrid Vehicle Market Outlook, By Hybrid Electric Vehicle (HEV) (2019-2028) ($MN)    
7 Global Hybrid Vehicle Market Outlook, By Natural Gas Vehicle (NGV) (2019-2028) ($MN)    
8 Global Hybrid Vehicle Market Outlook, By Plug-in Hybrid Electric Vehicle (PHEV) (2019-2028) ($MN)   
9 Global Hybrid Vehicle Market Outlook, By Degree of Hybridization (2019-2028) ($MN)    
10 Global Hybrid Vehicle Market Outlook, By Full Hybrid Vehicle (2019-2028) ($MN)     
11 Global Hybrid Vehicle Market Outlook, By Micro-Hybrid (2019-2028) ($MN)     
12 Global Hybrid Vehicle Market Outlook, By Mild Hybrid (2019-2028) ($MN)     
13 Global Hybrid Vehicle Market Outlook, By Component (2019-2028) ($MN)     
14 Global Hybrid Vehicle Market Outlook, By Battery (2019-2028) ($MN)      
15 Global Hybrid Vehicle Market Outlook, By Electric Motor (2019-2028) ($MN)     
16 Global Hybrid Vehicle Market Outlook, By Direct Current (DC) /Alternating Current (AC) Converter (2019-2028) ($MN)  
17 Global Hybrid Vehicle Market Outlook, By Direct Current (DC)/Direct Current (DC) Converter (2019-2028) ($MN)  
18 Global Hybrid Vehicle Market Outlook, By Transmission (2019-2028) ($MN)     
19 Global Hybrid Vehicle Market Outlook, By Electric Powertrain Type (2019-2028) ($MN)    
20 Global Hybrid Vehicle Market Outlook, By Parallel Hybrid (2019-2028) ($MN)     
21 Global Hybrid Vehicle Market Outlook, By Series Hybrid (2019-2028) ($MN)     
22 North America Hybrid Vehicle Market Outlook, By Country (2019-2028) ($MN)     
23 North America Hybrid Vehicle Market Outlook, By Vehicle Type (2019-2028) ($MN)     
24 North America Hybrid Vehicle Market Outlook, By Commercial Vehicle (2019-2028) ($MN)    
25 North America Hybrid Vehicle Market Outlook, By Passenger Car (2019-2028) ($MN)    
26 North America Hybrid Vehicle Market Outlook, By Propulsion (2019-2028) ($MN)     
27 North America Hybrid Vehicle Market Outlook, By Hybrid Electric Vehicle (HEV) (2019-2028) ($MN)   
28 North America Hybrid Vehicle Market Outlook, By Natural Gas Vehicle (NGV) (2019-2028) ($MN)   
29 North America Hybrid Vehicle Market Outlook, By Plug-in Hybrid Electric Vehicle (PHEV) (2019-2028) ($MN)  
30 North America Hybrid Vehicle Market Outlook, By Degree of Hybridization (2019-2028) ($MN)   
31 North America Hybrid Vehicle Market Outlook, By Full Hybrid Vehicle (2019-2028) ($MN)    
32 North America Hybrid Vehicle Market Outlook, By Micro-Hybrid (2019-2028) ($MN)     
33 North America Hybrid Vehicle Market Outlook, By Mild Hybrid (2019-2028) ($MN)     
34 North America Hybrid Vehicle Market Outlook, By Component (2019-2028) ($MN)     
35 North America Hybrid Vehicle Market Outlook, By Battery (2019-2028) ($MN)     
36 North America Hybrid Vehicle Market Outlook, By Electric Motor (2019-2028) ($MN)    
37 North America Hybrid Vehicle Market Outlook, By Direct Current (DC) /Alternating Current (AC) Converter (2019-2028) ($MN)
38 North America Hybrid Vehicle Market Outlook, By Direct Current (DC)/Direct Current (DC) Converter (2019-2028) ($MN) 
39 North America Hybrid Vehicle Market Outlook, By Transmission (2019-2028) ($MN)     
40 North America Hybrid Vehicle Market Outlook, By Electric Powertrain Type (2019-2028) ($MN)   
41 North America Hybrid Vehicle Market Outlook, By Parallel Hybrid (2019-2028) ($MN)    
42 North America Hybrid Vehicle Market Outlook, By Series Hybrid (2019-2028) ($MN)     
43 Europe Hybrid Vehicle Market Outlook, By Country (2019-2028) ($MN)      
44 Europe Hybrid Vehicle Market Outlook, By Vehicle Type (2019-2028) ($MN)     
45 Europe Hybrid Vehicle Market Outlook, By Commercial Vehicle (2019-2028) ($MN)     
46 Europe Hybrid Vehicle Market Outlook, By Passenger Car (2019-2028) ($MN)     
47 Europe Hybrid Vehicle Market Outlook, By Propulsion (2019-2028) ($MN)     
48 Europe Hybrid Vehicle Market Outlook, By Hybrid Electric Vehicle (HEV) (2019-2028) ($MN)    
49 Europe Hybrid Vehicle Market Outlook, By Natural Gas Vehicle (NGV) (2019-2028) ($MN)    
50 Europe Hybrid Vehicle Market Outlook, By Plug-in Hybrid Electric Vehicle (PHEV) (2019-2028) ($MN)   
51 Europe Hybrid Vehicle Market Outlook, By Degree of Hybridization (2019-2028) ($MN)    
52 Europe Hybrid Vehicle Market Outlook, By Full Hybrid Vehicle (2019-2028) ($MN)     
53 Europe Hybrid Vehicle Market Outlook, By Micro-Hybrid (2019-2028) ($MN)     
54 Europe Hybrid Vehicle Market Outlook, By Mild Hybrid (2019-2028) ($MN)     
55 Europe Hybrid Vehicle Market Outlook, By Component (2019-2028) ($MN)     
56 Europe Hybrid Vehicle Market Outlook, By Battery (2019-2028) ($MN)      
57 Europe Hybrid Vehicle Market Outlook, By Electric Motor (2019-2028) ($MN)     
58 Europe Hybrid Vehicle Market Outlook, By Direct Current (DC) /Alternating Current (AC) Converter (2019-2028) ($MN) 
59 Europe Hybrid Vehicle Market Outlook, By Direct Current (DC)/Direct Current (DC) Converter (2019-2028) ($MN)  
60 Europe Hybrid Vehicle Market Outlook, By Transmission (2019-2028) ($MN)     
61 Europe Hybrid Vehicle Market Outlook, By Electric Powertrain Type (2019-2028) ($MN)    
62 Europe Hybrid Vehicle Market Outlook, By Parallel Hybrid (2019-2028) ($MN)     
63 Europe Hybrid Vehicle Market Outlook, By Series Hybrid (2019-2028) ($MN)     
64 Asia Pacific Hybrid Vehicle Market Outlook, By Country (2019-2028) ($MN)     
65 Asia Pacific Hybrid Vehicle Market Outlook, By Vehicle Type (2019-2028) ($MN)     
66 Asia Pacific Hybrid Vehicle Market Outlook, By Commercial Vehicle (2019-2028) ($MN)    
67 Asia Pacific Hybrid Vehicle Market Outlook, By Passenger Car (2019-2028) ($MN)     
68 Asia Pacific Hybrid Vehicle Market Outlook, By Propulsion (2019-2028) ($MN)     
69 Asia Pacific Hybrid Vehicle Market Outlook, By Hybrid Electric Vehicle (HEV) (2019-2028) ($MN)   
70 Asia Pacific Hybrid Vehicle Market Outlook, By Natural Gas Vehicle (NGV) (2019-2028) ($MN)    
71 Asia Pacific Hybrid Vehicle Market Outlook, By Plug-in Hybrid Electric Vehicle (PHEV) (2019-2028) ($MN)  
72 Asia Pacific Hybrid Vehicle Market Outlook, By Degree of Hybridization (2019-2028) ($MN)    
73 Asia Pacific Hybrid Vehicle Market Outlook, By Full Hybrid Vehicle (2019-2028) ($MN)    
74 Asia Pacific Hybrid Vehicle Market Outlook, By Micro-Hybrid (2019-2028) ($MN)     
75 Asia Pacific Hybrid Vehicle Market Outlook, By Mild Hybrid (2019-2028) ($MN)     
76 Asia Pacific Hybrid Vehicle Market Outlook, By Component (2019-2028) ($MN)     
77 Asia Pacific Hybrid Vehicle Market Outlook, By Battery (2019-2028) ($MN)     
78 Asia Pacific Hybrid Vehicle Market Outlook, By Electric Motor (2019-2028) ($MN)     
79 Asia Pacific Hybrid Vehicle Market Outlook, By Direct Current (DC) /Alternating Current (AC) Converter (2019-2028) ($MN) 
80 Asia Pacific Hybrid Vehicle Market Outlook, By Direct Current (DC)/Direct Current (DC) Converter (2019-2028) ($MN) 
81 Asia Pacific Hybrid Vehicle Market Outlook, By Transmission (2019-2028) ($MN)     
82 Asia Pacific Hybrid Vehicle Market Outlook, By Electric Powertrain Type (2019-2028) ($MN)    
83 Asia Pacific Hybrid Vehicle Market Outlook, By Parallel Hybrid (2019-2028) ($MN)     
84 Asia Pacific Hybrid Vehicle Market Outlook, By Series Hybrid (2019-2028) ($MN)     
85 South America Hybrid Vehicle Market Outlook, By Country (2019-2028) ($MN)     
86 South America Hybrid Vehicle Market Outlook, By Vehicle Type (2019-2028) ($MN)     
87 South America Hybrid Vehicle Market Outlook, By Commercial Vehicle (2019-2028) ($MN)    
88 South America Hybrid Vehicle Market Outlook, By Passenger Car (2019-2028) ($MN)    
89 South America Hybrid Vehicle Market Outlook, By Propulsion (2019-2028) ($MN)     
90 South America Hybrid Vehicle Market Outlook, By Hybrid Electric Vehicle (HEV) (2019-2028) ($MN)   
91 South America Hybrid Vehicle Market Outlook, By Natural Gas Vehicle (NGV) (2019-2028) ($MN)   
92 South America Hybrid Vehicle Market Outlook, By Plug-in Hybrid Electric Vehicle (PHEV) (2019-2028) ($MN)  
93 South America Hybrid Vehicle Market Outlook, By Degree of Hybridization (2019-2028) ($MN)   
94 South America Hybrid Vehicle Market Outlook, By Full Hybrid Vehicle (2019-2028) ($MN)    
95 South America Hybrid Vehicle Market Outlook, By Micro-Hybrid (2019-2028) ($MN)     
96 South America Hybrid Vehicle Market Outlook, By Mild Hybrid (2019-2028) ($MN)     
97 South America Hybrid Vehicle Market Outlook, By Component (2019-2028) ($MN)     
98 South America Hybrid Vehicle Market Outlook, By Battery (2019-2028) ($MN)     
99 South America Hybrid Vehicle Market Outlook, By Electric Motor (2019-2028) ($MN)    
100 South America Hybrid Vehicle Market Outlook, By Direct Current (DC) /Alternating Current (AC) Converter (2019-2028) ($MN)
101 South America Hybrid Vehicle Market Outlook, By Direct Current (DC)/Direct Current (DC) Converter (2019-2028) ($MN) 
102 South America Hybrid Vehicle Market Outlook, By Transmission (2019-2028) ($MN)     
103 South America Hybrid Vehicle Market Outlook, By Electric Powertrain Type (2019-2028) ($MN)   
104 South America Hybrid Vehicle Market Outlook, By Parallel Hybrid (2019-2028) ($MN)    
105 South America Hybrid Vehicle Market Outlook, By Series Hybrid (2019-2028) ($MN)     
106 Middle East & Africa Hybrid Vehicle Market Outlook, By Country (2019-2028) ($MN)    
107 Middle East & Africa Hybrid Vehicle Market Outlook, By Vehicle Type (2019-2028) ($MN)    
108 Middle East & Africa Hybrid Vehicle Market Outlook, By Commercial Vehicle (2019-2028) ($MN)   
109 Middle East & Africa Hybrid Vehicle Market Outlook, By Passenger Car (2019-2028) ($MN)    
110 Middle East & Africa Hybrid Vehicle Market Outlook, By Propulsion (2019-2028) ($MN)    
111 Middle East & Africa Hybrid Vehicle Market Outlook, By Hybrid Electric Vehicle (HEV) (2019-2028) ($MN)  
112 Middle East & Africa Hybrid Vehicle Market Outlook, By Natural Gas Vehicle (NGV) (2019-2028) ($MN)   
113 Middle East & Africa Hybrid Vehicle Market Outlook, By Plug-in Hybrid Electric Vehicle (PHEV) (2019-2028) ($MN)  
114 Middle East & Africa Hybrid Vehicle Market Outlook, By Degree of Hybridization (2019-2028) ($MN)   
115 Middle East & Africa Hybrid Vehicle Market Outlook, By Full Hybrid Vehicle (2019-2028) ($MN)   
116 Middle East & Africa Hybrid Vehicle Market Outlook, By Micro-Hybrid (2019-2028) ($MN)    
117 Middle East & Africa Hybrid Vehicle Market Outlook, By Mild Hybrid (2019-2028) ($MN)    
118 Middle East & Africa Hybrid Vehicle Market Outlook, By Component (2019-2028) ($MN)    
119 Middle East & Africa Hybrid Vehicle Market Outlook, By Battery (2019-2028) ($MN)     
120 Middle East & Africa Hybrid Vehicle Market Outlook, By Electric Motor (2019-2028) ($MN)    
121 Middle East & Africa Hybrid Vehicle Market Outlook, By Direct Current (DC) /Alternating Current (AC) Converter (2019-2028) ($MN)
122 Middle East & Africa Hybrid Vehicle Market Outlook, By Direct Current (DC)/Direct Current (DC) Converter (2019-2028) ($MN)
123 Middle East & Africa Hybrid Vehicle Market Outlook, By Transmission (2019-2028) ($MN)    
124 Middle East & Africa Hybrid Vehicle Market Outlook, By Electric Powertrain Type (2019-2028) ($MN)   
125 Middle East & Africa Hybrid Vehicle Market Outlook, By Parallel Hybrid (2019-2028) ($MN)    
126 Middle East & Africa Hybrid Vehicle Market Outlook, By Series Hybrid (2019-2028) ($MN)    

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