Overview:

The global hybrid vehicles market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Hybrid vehicles are the type of vehicles that runs on combination of electric motor and conventional internal combustion engine. The electric motor uses the energy stored in batteries to power the vehicle and the batteries get charge through internal combustion engine (ICE) and regenerative breaking system.

The power supplied by electric motor is utilized to increase the power of small engine while running and to reduce engine idling when the vehicle is in standing position. This benefit of electric motor results in high fuel economy without compromising the vehicle performance.

Market Dynamics:

Rising adoption fuel efficient vehicles and increasing cost of fuel are key factors driving growth of the global hybrid vehicles market. Also, rising government support to manufacture the hybrid vehicles to reduce the environment pollution is another major factor supporting growth of the target market.

In addition, rising preference for green cars among individuals and growing need of improved fuel efficiency are some other factors propelling growth of the target market across the globe. The implementation of stringent emission standards across the globe is among the other factor expected to drive growth of the target market over the forecast period.

However, rising focus on product development and launches of battery electric vehicles (BEV’s) and fuel cell electric vehicles (FCEV’s) may hamper growth of the global market to a significant extent.

Key Trends:

Rising focus on product launches by hybrid vehicle manufacturers is a key trend observed in the global hybrid vehicles market, which is expected to support growth of the target market. For instance, Honda Cars India Limited has announced in August 2020 that, the company is going to launch a hybrid car in India in the year 2021. In addition, in September 2019, Maserati S.p.A. has announced their plan to manufacture hybrid cars.

Regional Analysis:

For detailed understanding of market dynamics, the global hybrid vehicles market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently Asia Pacific region is dominating the global market and is expected to maintain its dominance over the forecast period. The rising pollution in level in countries in the region is a key factor driving growth of the target market. Also, rising government support and strong presence of key players in the region are some other factors propelling growth of the Asia Pacific hybrid vehicles market.

Moreover, Europe is expected to follow very closely to the Asia Pacific market in terms of growth in the forecast period. This is attributed to upcoming product launches in countries in the region.

Scope of the Report:

Detailed Segmentation:

Global Hybrid Vehicles Market, By Type:

• Micro-hybrid
• Mild-hybrid
• Full-hybrid

Global Hybrid Vehicles Market, By Vehicle Type:

• Passenger Vehicle
• Commercial Vehicle

Global Hybrid Vehicles Market, By Electric Powertrain Type:

• Parallel Hybrid
• Series Hybrid

Key Players Covered:

Key players operating in the global hybrid vehicles market includes, AB Volvo (Volvo Group), Toyota Motor Corporation, Groupe Renault, Suzuki Motor Corporation, Honda Motor Company, Ltd., Nissan Motor Company, Ltd., Maserati S.p.A., Daimler AG, Hyundai Motor Company, and ZF Friedrichshafen AG.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Hybrid Vehicles Market by type, vehicle type, electric powertrain type, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global hybrid vehicles market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.