Global Hybrid Vehicles Market Size, Share and Trends Analysis Report, By Vehicle (Passenger Cars and Commercial Vehicles), By Degree of Hybridization (Full, Micro, and Mild), Forecast (2022-2028)

 

The global hybrid vehicles market is expected to grow at a significant CAGR of 25.0% during the forecast period (2022-2028). A hybrid vehicle combines two power sources, such as an electric engine or an electric motor, with an energy storage battery and fuel cells. Parallel hybrid and series hybrid are the two most common types of hybrid vehicles. Factors such as rising demand for environmentally friendly vehicles, lower battery costs, rising emission standards, and rising demand for alternative fuel efficiency have resulted in market growth. Furthermore, increased government initiatives to improve hybrid vehicles are expected to accelerate market growth. However, the high cost of hybrid vehicles and rising demand for BEVs and FCEVs is expected to restrain the market growth. 

Some of the key players profiled in the study are BYD Co. Ltd, Honda Motor Co. Ltd., and Kia Motors Corp., among others.

Hybrid Vehicles Market Segmentation:

By Vehicle 

• Passenger Cars
• Commercial Vehicles

By Degree of Hybridization

• Full
• Micro
• Mild

Geographic Coverage

• North America Market Size and/or Volume
• Latin America Market Size and/or Volume
• Europe Market Size and/or Volume
• Asia-Pacific Market Size and/or Volume
• Rest of the world Market Size and/or Volume

Key questions answered in this report:

• What is the size of the Hybrid Vehicles market and what is its expected growth rate?
• What are the primary driving factors that push the Hybrid Vehicles Market forward?
• What are the Hybrid Vehicles Industry’s top companies?
• What are the different categories that the Hybrid Vehicles Market caters to?
• What will be the fastest-growing segment or region?
• In the value chain, what role do essential players play?
• What is the procedure for getting a free copy of the Hybrid Vehicles Market sample report and company profiles?