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
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
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 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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