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Hybrid Electric Vehicles-Global Market Insights and Sales Trends 2025
Synopsis
A hybrid electric vehicle (HEV) is a type of hybrid vehicle that combines a conventional internal combustion engine (ICE) system with an electric propulsion system (hybrid vehicle drivetrain). The presence of the electric powertrain is intended to achieve either better fuel economy than a conventional vehicle or better performance. There is a variety of HEV types, and the degree to which each functions as an electric vehicle (EV) also varies. The most common form of HEV is the hybrid electric car, although hybrid electric trucks (pickups and tractors) and buses also exist.
The global Hybrid Electric Vehicles market size is expected to reach US$ million by 2029, growing at a CAGR of % from 2023 to 2029. The market is mainly driven by the significant applications of Hybrid Electric Vehicles in various end use industries. The expanding demands from the Commercial, Industrial and Others,, are propelling Hybrid Electric Vehicles market. Commercial, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Luxury Sedan segment is estimated at % CAGR for the next seven-year period.
Global EV sales continued strong. A total of 10,5 million new BEVs and PHEVs were delivered during 2022, an increase of +55 % compared to 2021. China and Europe emerged as the main drivers of strong growth in global EV sales. In 2022, the production and sales of new energy vehicles in China reach 7.0 million and 6.8 million respectively, a year-on-year increase of 96.9% and 93.4%, with a market share of 25.6%. The production and sales of new energy vehicles have ranked first in the world for eight consecutive years. Among them, the sales volume of pure electric vehicles was 5.365 million, a year-on-year increase of 81.6%. In 2022, sales of pure electric vehicles in Europe will increase by 29% year-on-year to 1.58 million.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Hybrid Electric Vehicles, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Hybrid Electric Vehicles market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Hybrid Electric Vehicles market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Hybrid Electric Vehicles sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Hybrid Electric Vehicles covered in this report include Toyota, Hyundai, Honda, Ford and Nissan, etc.
The global Hybrid Electric Vehicles market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Toyota
Hyundai
Honda
Ford
Nissan
Global Hybrid Electric Vehicles market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Hybrid Electric Vehicles market, Segment by Type:
Commercial
Luxury Sedan
SUV
Mid-Luxury
Entry-Level
Global Hybrid Electric Vehicles market, by Application
Commercial
Industrial
Others
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Hybrid Electric Vehicles manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Hybrid Electric Vehicles in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
A hybrid electric vehicle (HEV) is a type of hybrid vehicle that combines a conventional internal combustion engine (ICE) system with an electric propulsion system (hybrid vehicle drivetrain). The presence of the electric powertrain is intended to achieve either better fuel economy than a conventional vehicle or better performance. There is a variety of HEV types, and the degree to which each functions as an electric vehicle (EV) also varies. The most common form of HEV is the hybrid electric car, although hybrid electric trucks (pickups and tractors) and buses also exist.
The global Hybrid Electric Vehicles market size is expected to reach US$ million by 2029, growing at a CAGR of % from 2023 to 2029. The market is mainly driven by the significant applications of Hybrid Electric Vehicles in various end use industries. The expanding demands from the Commercial, Industrial and Others,, are propelling Hybrid Electric Vehicles market. Commercial, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Luxury Sedan segment is estimated at % CAGR for the next seven-year period.
Global EV sales continued strong. A total of 10,5 million new BEVs and PHEVs were delivered during 2022, an increase of +55 % compared to 2021. China and Europe emerged as the main drivers of strong growth in global EV sales. In 2022, the production and sales of new energy vehicles in China reach 7.0 million and 6.8 million respectively, a year-on-year increase of 96.9% and 93.4%, with a market share of 25.6%. The production and sales of new energy vehicles have ranked first in the world for eight consecutive years. Among them, the sales volume of pure electric vehicles was 5.365 million, a year-on-year increase of 81.6%. In 2022, sales of pure electric vehicles in Europe will increase by 29% year-on-year to 1.58 million.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Hybrid Electric Vehicles, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Hybrid Electric Vehicles market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Hybrid Electric Vehicles market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Hybrid Electric Vehicles sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Hybrid Electric Vehicles covered in this report include Toyota, Hyundai, Honda, Ford and Nissan, etc.
The global Hybrid Electric Vehicles market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Toyota
Hyundai
Honda
Ford
Nissan
Global Hybrid Electric Vehicles market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Hybrid Electric Vehicles market, Segment by Type:
Commercial
Luxury Sedan
SUV
Mid-Luxury
Entry-Level
Global Hybrid Electric Vehicles market, by Application
Commercial
Industrial
Others
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Hybrid Electric Vehicles manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Hybrid Electric Vehicles in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 Hybrid Electric Vehicles Market Overview
1.1 Hybrid Electric Vehicles Product Overview
1.2 Hybrid Electric Vehicles Market Segment by Type
1.2.1 Commercial
1.2.2 Luxury Sedan
1.2.3 SUV
1.2.4 Mid-Luxury
1.2.5 Entry-Level
1.3 Global Hybrid Electric Vehicles Market Size by Type
1.3.1 Global Hybrid Electric Vehicles Market Size Overview by Type (2018-2029)
1.3.2 Global Hybrid Electric Vehicles Historic Market Size Review by Type (2018-2023)
1.3.3 Global Hybrid Electric Vehicles Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Hybrid Electric Vehicles Sales Breakdown by Type (2018-2023)
1.4.2 Europe Hybrid Electric Vehicles Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Hybrid Electric Vehicles Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Hybrid Electric Vehicles Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Hybrid Electric Vehicles Sales Breakdown by Type (2018-2023)
2 Global Hybrid Electric Vehicles Market Competition by Company
2.1 Global Top Players by Hybrid Electric Vehicles Sales (2018-2023)
2.2 Global Top Players by Hybrid Electric Vehicles Revenue (2018-2023)
2.3 Global Top Players by Hybrid Electric Vehicles Price (2018-2023)
2.4 Global Top Manufacturers Hybrid Electric Vehicles Manufacturing Base Distribution, Sales Area, Product Type
2.5 Hybrid Electric Vehicles Market Competitive Situation and Trends
2.5.1 Hybrid Electric Vehicles Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Hybrid Electric Vehicles Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Hybrid Electric Vehicles as of 2022)
2.7 Date of Key Manufacturers Enter into Hybrid Electric Vehicles Market
2.8 Key Manufacturers Hybrid Electric Vehicles Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Hybrid Electric Vehicles Status and Outlook by Region
3.1 Global Hybrid Electric Vehicles Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Hybrid Electric Vehicles Historic Market Size by Region
3.2.1 Global Hybrid Electric Vehicles Sales in Volume by Region (2018-2023)
3.2.2 Global Hybrid Electric Vehicles Sales in Value by Region (2018-2023)
3.2.3 Global Hybrid Electric Vehicles Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Hybrid Electric Vehicles Forecasted Market Size by Region
3.3.1 Global Hybrid Electric Vehicles Sales in Volume by Region (2024-2029)
3.3.2 Global Hybrid Electric Vehicles Sales in Value by Region (2024-2029)
3.3.3 Global Hybrid Electric Vehicles Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Hybrid Electric Vehicles by Application
4.1 Hybrid Electric Vehicles Market Segment by Application
4.1.1 Commercial
4.1.2 Industrial
4.1.3 Others
4.2 Global Hybrid Electric Vehicles Market Size by Application
4.2.1 Global Hybrid Electric Vehicles Market Size Overview by Application (2018-2029)
4.2.2 Global Hybrid Electric Vehicles Historic Market Size Review by Application (2018-2023)
4.2.3 Global Hybrid Electric Vehicles Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Hybrid Electric Vehicles Sales Breakdown by Application (2018-2023)
4.3.2 Europe Hybrid Electric Vehicles Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Hybrid Electric Vehicles Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Hybrid Electric Vehicles Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Hybrid Electric Vehicles Sales Breakdown by Application (2018-2023)
5 North America Hybrid Electric Vehicles by Country
5.1 North America Hybrid Electric Vehicles Historic Market Size by Country
5.1.1 North America Hybrid Electric Vehicles Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Hybrid Electric Vehicles Sales in Volume by Country (2018-2023)
5.1.3 North America Hybrid Electric Vehicles Sales in Value by Country (2018-2023)
5.2 North America Hybrid Electric Vehicles Forecasted Market Size by Country
5.2.1 North America Hybrid Electric Vehicles Sales in Volume by Country (2024-2029)
5.2.2 North America Hybrid Electric Vehicles Sales in Value by Country (2024-2029)
6 Europe Hybrid Electric Vehicles by Country
6.1 Europe Hybrid Electric Vehicles Historic Market Size by Country
6.1.1 Europe Hybrid Electric Vehicles Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Hybrid Electric Vehicles Sales in Volume by Country (2018-2023)
6.1.3 Europe Hybrid Electric Vehicles Sales in Value by Country (2018-2023)
6.2 Europe Hybrid Electric Vehicles Forecasted Market Size by Country
6.2.1 Europe Hybrid Electric Vehicles Sales in Volume by Country (2024-2029)
6.2.2 Europe Hybrid Electric Vehicles Sales in Value by Country (2024-2029)
7 Asia-Pacific Hybrid Electric Vehicles by Region
7.1 Asia-Pacific Hybrid Electric Vehicles Historic Market Size by Region
7.1.1 Asia-Pacific Hybrid Electric Vehicles Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Hybrid Electric Vehicles Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Hybrid Electric Vehicles Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Hybrid Electric Vehicles Forecasted Market Size by Region
7.2.1 Asia-Pacific Hybrid Electric Vehicles Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Hybrid Electric Vehicles Sales in Value by Region (2024-2029)
8 Latin America Hybrid Electric Vehicles by Country
8.1 Latin America Hybrid Electric Vehicles Historic Market Size by Country
8.1.1 Latin America Hybrid Electric Vehicles Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Hybrid Electric Vehicles Sales in Volume by Country (2018-2023)
8.1.3 Latin America Hybrid Electric Vehicles Sales in Value by Country (2018-2023)
8.2 Latin America Hybrid Electric Vehicles Forecasted Market Size by Country
8.2.1 Latin America Hybrid Electric Vehicles Sales in Volume by Country (2024-2029)
8.2.2 Latin America Hybrid Electric Vehicles Sales in Value by Country (2024-2029)
9 Middle East and Africa Hybrid Electric Vehicles by Country
9.1 Middle East and Africa Hybrid Electric Vehicles Historic Market Size by Country
9.1.1 Middle East and Africa Hybrid Electric Vehicles Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Hybrid Electric Vehicles Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Hybrid Electric Vehicles Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Hybrid Electric Vehicles Forecasted Market Size by Country
9.2.1 Middle East and Africa Hybrid Electric Vehicles Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Hybrid Electric Vehicles Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 Toyota
10.1.1 Toyota Company Information
10.1.2 Toyota Introduction and Business Overview
10.1.3 Toyota Hybrid Electric Vehicles Sales, Revenue and Gross Margin (2018-2023)
10.1.4 Toyota Hybrid Electric Vehicles Products Offered
10.1.5 Toyota Recent Development
10.2 Hyundai
10.2.1 Hyundai Company Information
10.2.2 Hyundai Introduction and Business Overview
10.2.3 Hyundai Hybrid Electric Vehicles Sales, Revenue and Gross Margin (2018-2023)
10.2.4 Hyundai Hybrid Electric Vehicles Products Offered
10.2.5 Hyundai Recent Development
10.3 Honda
10.3.1 Honda Company Information
10.3.2 Honda Introduction and Business Overview
10.3.3 Honda Hybrid Electric Vehicles Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Honda Hybrid Electric Vehicles Products Offered
10.3.5 Honda Recent Development
10.4 Ford
10.4.1 Ford Company Information
10.4.2 Ford Introduction and Business Overview
10.4.3 Ford Hybrid Electric Vehicles Sales, Revenue and Gross Margin (2018-2023)
10.4.4 Ford Hybrid Electric Vehicles Products Offered
10.4.5 Ford Recent Development
10.5 Nissan
10.5.1 Nissan Company Information
10.5.2 Nissan Introduction and Business Overview
10.5.3 Nissan Hybrid Electric Vehicles Sales, Revenue and Gross Margin (2018-2023)
10.5.4 Nissan Hybrid Electric Vehicles Products Offered
10.5.5 Nissan Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Hybrid Electric Vehicles Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Hybrid Electric Vehicles Industrial Chain Analysis
11.4 Hybrid Electric Vehicles Market Dynamics
11.4.1 Hybrid Electric Vehicles Industry Trends
11.4.2 Hybrid Electric Vehicles Market Drivers
11.4.3 Hybrid Electric Vehicles Market Challenges
11.4.4 Hybrid Electric Vehicles Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Hybrid Electric Vehicles Distributors
12.3 Hybrid Electric Vehicles Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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