The Global Hybrid Vehicle Market is expected to grow from USD 155.2 Billion in 2020 to USD 303.5 Billion by 2028, at a CAGR of 9.0% during the forecast period 2021-2028 : Greyviews

The Global Hybrid Vehicle Market is expected to grow from USD 155.2 Billion in 2020 to USD 303.5 Billion by 2028, at a CAGR of 9.0% during the forecast period 2021-2028 : Greyviews

Global Hybrid Vehicle Market are Delphi, Continental, BorgWarner, ZF Friedrichshafen AG, Ford, Volvo, Continental, Toyota, Daimler, Honda, Hyundai, Schaeffler, Allison Transmission, and Nissan among others. To enhance their market share in the global Hybrid Vehicle market, the key vendors are now focusing on adopting the prominent strategies such as recent developments, product innovation, mergers & acquisitions, joint venture, collaborations, and partnership.

/EIN News/ — Pune,India, April 15, 2022 (GLOBE NEWSWIRE) — Hybrid Vehicle market is anticipated to grow at a steady growth rate over the forecast period, owing to the upsurge in concerns associated with the vehicular emissions and demand for vehicles with more power and enhanced fuel efficiency. Hybrid vehicles are powered by electric motor and a conventional internal combustion engine (either petrol or diesel). It cannot be plugged in to charge the battery; however, it utilizes energy stored in batteries where the battery is charged by the internal combustion engine and via regenerative braking. As compared with the conventional vehicles, hybrids vehicles offers better power and fuel efficiency along with the low emissions.    

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Key Insights & Findings:

  • The parallel hybrid segment led the hybrid vehicle market and valued at USD 88.46 Billion in 2020. Growth of this segment is mainly driven increasing adoption of regenerative braking technology in the hybrid vehicle.
  • The battery segment accounted for the largest market share and valued at USD 69.84 Billion in 2020. Need for batteries in hybrid vehicles to store a large amount of power for an extended period of time drives growth of the segment.
  • The HEV segment accounted for the significant market share and valued at USD 81.17 Billion in 2020. Growth of this segment is mainly driven by significant rise in sales volume of HEV in the US, Japan, and China.
  • The hybridization segment accounted for the largest market share and valued at USD 76.20 Billion in 2020. Growth of this segment is mainly driven by need for more power, better fuel efficiency, and minimum emissions in the vehicles.
  • The passenger car segment accounted for the largest market share and valued at USD 101.19 Billion in 2020. Increasing disposable income across the developing countries and need for passenger cars in conveyance in developed and developing countries.
  • The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region emerged as the largest market for the Hybrid Vehicle market and valued at USD 58.82 Billion in 2020. The North America holds a tremendous potential for hybrid vehicle production and demand. For instance, proliferation of hybrid type of vehicles has been observed in countries such as the U.S. with around 400,746 hybrid cars sold in the U.S. in 2019. However, the Asia-Pacific region is likely to register the significant growth during the forecast period. This is mainly due to the significant demand for hybrid vehicles across the countries including China, Japan, and South Korea.

Key players operating in the global hybrid vehicle market are Delphi, Continental, BorgWarner, ZF Friedrichshafen AG, Ford, Volvo, Continental, Toyota, Daimler, Honda, Hyundai, Schaeffler, Allison Transmission, and Nissan among others. To enhance their market share in the global Hybrid Vehicle market, the key vendors are now focusing on adopting the prominent strategies such as recent developments, product innovation, mergers & acquisitions, joint venture, collaborations, and partnership.

  • For instance, in September 2021, Allison Transmission, a designer and manufacturer of conventional, electric hybrid and fully electric vehicle propulsion solutions, collaborated with SAIC Hongyan Automotive Co., Ltd. to integrate Allison’s eGen Power 130D into regional and long haul tractors.
  • In July 2019, Continental, one of the leading market players introduced 48V high-power drive system for enabling the electric-only driving in hybrid vehicles. This launch has enhanced hybrid vehicle portfolio of the company.

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Global Hybrid Vehicle Market by Electric Powertrain type:

  • Parallel Hybrid
  • Series Hybrid

Global Hybrid Vehicle Market by Component type:

  • Battery
  • Electric Motor
  • Transmission 

Global Hybrid Vehicle Market by Propulsion:

Global Hybrid Vehicle Market by Hybridization:

  • Full Hybrid
  • Micro-Hybrid
  • Mild Hybrid   

Global Hybrid Vehicle Market by Vehicle Type:

  • Passenger Car
  • Commercial Vehicle    

Global Hybrid Vehicle Market by Region:

  • North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia
  • Asia-Pacific
    • Japan
    • China
    • India
    • Korea
    • Southeast Asia
  • South America
  • Middle East and Africa  
    • UAE
    • South Africa
    • Saudi Arabia

About the report: 
This research report gives detailed data about the major factors influencing the growth of the hybrid vehicle market at the national and local level forecast of the market size, in terms of value, market share by region, and segment; regional market positions; segment and country opportunities for growth; Key company profiles, SWOT, product portfolio and growth strategies. It studies the market essential sides such as top participants, expansion strategies, business models, and other market features to improve market insight.

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Contact Us

Rocky Shah

GreyViews

Pune India

Phone: (+44) 162-237-1047

Email: [email protected]

Web: https://greyviews.com/

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