Product Code: A14585
The hybrid electric car market is expected to experience a significant growth rate of 7.8% from 2023-2032 due to strengthening emission norms and increasing demand for efficient transportation- Allied Market Research
The strengthening of government rules and regulations toward reducing emissions from traditional internal combustion engine vehicles positively drives the consumer demand toward hybrid electric cars. As hybrid electric cars use two fuel sources, they can be switched to drive on electricity in areas where emission norms are stricter. Similarly, the vehicle can be shifted for use as fuel-powered when required. For instance, in April 2020, India Introduced BS6 norms, which outline a permissible level of pollutants from a vehicle, especially from a vehicle using diesel and petrol as fuel. In addition, the country introduced a vehicle scrapping policy that outlines that older commercial vehicles need to be re-registered after 15 years; if the vehicles are found unfit, they are expected to be scrapped. Rise in such strengthening emissions norms by the government positively affect the demand for hybrid electric cars.
Likewise, In recent year the increasing prices of fossil fuel has led to a major shift of people's focus from conventional internal combustion engines towards electric and hybrid vehicles. The major reason for the growth of crude oil price hikes can be linked to the depletion of crude oil reserves and increasing fuel prices, which are majorly controlled by OPEC countries, it is anticipated that the prices of crude oil will keep increasing in the future due to various factors. The increase in fuel prices has led consumers to explore alternative fuel options such as hybrid electric cars. Thus, the rising price of fossil fuel is anticipated to create growth opportunities for companies operating in the market.
In addition, a rise in income level among consumers globally, along with technological advancement in hybrid vehicle technology, is anticipated to increase the demand for hybrid electric cars during the forecast period. To support the demand for fuel-efficient mid-level hybrid electric cars, companies around the world are developing technologies to cut down the cost of production.
Russia-Ukraine war impact
The conflict has disrupted supply chains, especially for components and materials sourced from Ukraine and Russia. This can result in delays and increased costs for hybrid electric car manufacturers, as they may struggle to obtain critical parts or materials required for production. Economic uncertainty, trade disruptions, and geopolitical tensions can lead to reduced economic growth in the affected regions. This can result in a decrease in demand for new hybrid electric vehicles.
However, these challenges can drive innovation and adaptation in the hybrid electric car industry. Manufacturers may develop more resilient and versatile cars, and consumers may invest in the technology.
The hybrid electric car market is segmented on the basis of powertrain, degree of hybridization, and vehicle type. By powertrain, the market is segmented into series hybrid, parallel hybrid, and combined hybrid. On the basis of degree of hybridization, the market is fragmented into fully hybrid, and mild hybrid. By vehicle type, the market is divided into standard hybrids, luxury hybrids, and performance hybrids. Region-wise, the hybrid electric car market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The Key players operating in the market are: TOYOTA MOTOR CORPORATION, Honda Motor Co., Ltd, Mercedes-Benz Group AG (Former Daimler AG), BMW AG, Ford Motor Company, Hyundai Motor Company, Volkswagen Group, Kia Corporation, Nissan Motor Co., Ltd., and AB Volvo.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hybrid electric car market analysis from 2022 to 2032 to identify the prevailing hybrid electric car market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hybrid electric car market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hybrid electric car market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
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Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Upcoming/New Entrant by Regions
- New Product Development/ Product Matrix of Key Players
- Brands Share Analysis
- SWOT Analysis
Key Market Segments
By Degree of Hybridization
By Vehicle Type
- Standard Hybrids
- Luxury Hybrid
- Performance Hybrid
By Powertrain
- Series Hybrid
- Parallel Hybrid
- Combined Hybrid
By Region
- North America
- Europe
- Germany
- France
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players:
- Honda Motor Co., Ltd.
- Mercedes-Benz Group AG (former Daimler AG)
- BMW AG
- Hyundai Motor Company
- Kia Corporation
- Nissan Motor Co., Ltd.
- Toyota Motor Corporation
- Ford Motor Company
- Volkswagen Group
- AB Volvo
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.3.1. Moderate bargaining power of suppliers
- 3.3.2. High threat of new entrants
- 3.3.3. Moderate threat of substitutes
- 3.3.4. High intensity of rivalry
- 3.3.5. Moderate bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Increase in demand for efficient transportation
- 3.4.1.2. Strengthening emission norms
- 3.4.1.3. Increase in R&D activities
- 3.4.2. Restraints
- 3.4.2.1. Increase in trend towards electric vehicles
- 3.4.3. Opportunities
- 3.4.3.1. Increase in demand for hybrids to create lucrative growth opportunities for maintenance and aftersales services
- 3.4.3.2. Increase in price of fossil fuel
CHAPTER 4: HYBRID ELECTRIC CAR MARKET, BY POWERTRAIN
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Series Hybrid
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Parallel Hybrid
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Combined Hybrid
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
CHAPTER 5: HYBRID ELECTRIC CAR MARKET, BY DEGREE OF HYBRIDIZATION
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Fully Hybrid
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Mild Hybrid
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
CHAPTER 6: HYBRID ELECTRIC CAR MARKET, BY VEHICLE TYPE
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Standard Hybrids
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Luxury Hybrid
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- 6.4. Performance Hybrid
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
CHAPTER 7: HYBRID ELECTRIC CAR MARKET, BY REGION
- 7.1. Overview
- 7.1.1. Market size and forecast By Region
- 7.2. North America
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by Powertrain
- 7.2.3. Market size and forecast, by Degree of Hybridization
- 7.2.4. Market size and forecast, by Vehicle Type
- 7.2.5. Market size and forecast, by country
- 7.2.5.1. U.S.
- 7.2.5.1.1. Market size and forecast, by Powertrain
- 7.2.5.1.2. Market size and forecast, by Degree of Hybridization
- 7.2.5.1.3. Market size and forecast, by Vehicle Type
- 7.2.5.2. Canada
- 7.2.5.2.1. Market size and forecast, by Powertrain
- 7.2.5.2.2. Market size and forecast, by Degree of Hybridization
- 7.2.5.2.3. Market size and forecast, by Vehicle Type
- 7.2.5.3. Mexico
- 7.2.5.3.1. Market size and forecast, by Powertrain
- 7.2.5.3.2. Market size and forecast, by Degree of Hybridization
- 7.2.5.3.3. Market size and forecast, by Vehicle Type
- 7.3. Europe
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by Powertrain
- 7.3.3. Market size and forecast, by Degree of Hybridization
- 7.3.4. Market size and forecast, by Vehicle Type
- 7.3.5. Market size and forecast, by country
- 7.3.5.1. Germany
- 7.3.5.1.1. Market size and forecast, by Powertrain
- 7.3.5.1.2. Market size and forecast, by Degree of Hybridization
- 7.3.5.1.3. Market size and forecast, by Vehicle Type
- 7.3.5.2. France
- 7.3.5.2.1. Market size and forecast, by Powertrain
- 7.3.5.2.2. Market size and forecast, by Degree of Hybridization
- 7.3.5.2.3. Market size and forecast, by Vehicle Type
- 7.3.5.3. UK
- 7.3.5.3.1. Market size and forecast, by Powertrain
- 7.3.5.3.2. Market size and forecast, by Degree of Hybridization
- 7.3.5.3.3. Market size and forecast, by Vehicle Type
- 7.3.5.4. Russia
- 7.3.5.4.1. Market size and forecast, by Powertrain
- 7.3.5.4.2. Market size and forecast, by Degree of Hybridization
- 7.3.5.4.3. Market size and forecast, by Vehicle Type
- 7.3.5.5. Rest of Europe
- 7.3.5.5.1. Market size and forecast, by Powertrain
- 7.3.5.5.2. Market size and forecast, by Degree of Hybridization
- 7.3.5.5.3. Market size and forecast, by Vehicle Type
- 7.4. Asia-Pacific
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by Powertrain
- 7.4.3. Market size and forecast, by Degree of Hybridization
- 7.4.4. Market size and forecast, by Vehicle Type
- 7.4.5. Market size and forecast, by country
- 7.4.5.1. China
- 7.4.5.1.1. Market size and forecast, by Powertrain
- 7.4.5.1.2. Market size and forecast, by Degree of Hybridization
- 7.4.5.1.3. Market size and forecast, by Vehicle Type
- 7.4.5.2. India
- 7.4.5.2.1. Market size and forecast, by Powertrain
- 7.4.5.2.2. Market size and forecast, by Degree of Hybridization
- 7.4.5.2.3. Market size and forecast, by Vehicle Type
- 7.4.5.3. Japan
- 7.4.5.3.1. Market size and forecast, by Powertrain
- 7.4.5.3.2. Market size and forecast, by Degree of Hybridization
- 7.4.5.3.3. Market size and forecast, by Vehicle Type
- 7.4.5.4. Australia
- 7.4.5.4.1. Market size and forecast, by Powertrain
- 7.4.5.4.2. Market size and forecast, by Degree of Hybridization
- 7.4.5.4.3. Market size and forecast, by Vehicle Type
- 7.4.5.5. Rest of Asia-Pacific
- 7.4.5.5.1. Market size and forecast, by Powertrain
- 7.4.5.5.2. Market size and forecast, by Degree of Hybridization
- 7.4.5.5.3. Market size and forecast, by Vehicle Type
- 7.5. LAMEA
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by Powertrain
- 7.5.3. Market size and forecast, by Degree of Hybridization
- 7.5.4. Market size and forecast, by Vehicle Type
- 7.5.5. Market size and forecast, by country
- 7.5.5.1. Latin America
- 7.5.5.1.1. Market size and forecast, by Powertrain
- 7.5.5.1.2. Market size and forecast, by Degree of Hybridization
- 7.5.5.1.3. Market size and forecast, by Vehicle Type
- 7.5.5.2. Middle East
- 7.5.5.2.1. Market size and forecast, by Powertrain
- 7.5.5.2.2. Market size and forecast, by Degree of Hybridization
- 7.5.5.2.3. Market size and forecast, by Vehicle Type
- 7.5.5.3. Africa
- 7.5.5.3.1. Market size and forecast, by Powertrain
- 7.5.5.3.2. Market size and forecast, by Degree of Hybridization
- 7.5.5.3.3. Market size and forecast, by Vehicle Type
CHAPTER 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product mapping of top 10 player
- 8.4. Competitive dashboard
- 8.5. Competitive heatmap
- 8.6. Top player positioning, 2022
CHAPTER 9: COMPANY PROFILES
- 9.1. Toyota Motor Corporation
- 9.1.1. Company overview
- 9.1.2. Key executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.1.6. Business performance
- 9.1.7. Key strategic moves and developments
- 9.2. Honda Motor Co., Ltd.
- 9.2.1. Company overview
- 9.2.2. Key executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.2.6. Business performance
- 9.2.7. Key strategic moves and developments
- 9.3. Mercedes-Benz Group AG (former Daimler AG)
- 9.3.1. Company overview
- 9.3.2. Key executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Business performance
- 9.4. BMW AG
- 9.4.1. Company overview
- 9.4.2. Key executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Business performance
- 9.5. Ford Motor Company
- 9.5.1. Company overview
- 9.5.2. Key executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.5.6. Business performance
- 9.5.7. Key strategic moves and developments
- 9.6. Hyundai Motor Company
- 9.6.1. Company overview
- 9.6.2. Key executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.6.6. Business performance
- 9.7. Volkswagen Group
- 9.7.1. Company overview
- 9.7.2. Key executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.7.6. Business performance
- 9.8. Kia Corporation
- 9.8.1. Company overview
- 9.8.2. Key executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.8.6. Business performance
- 9.8.7. Key strategic moves and developments
- 9.9. Nissan Motor Co., Ltd.
- 9.9.1. Company overview
- 9.9.2. Key executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.9.6. Business performance
- 9.10. AB Volvo
- 9.10.1. Company overview
- 9.10.2. Key executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio
- 9.10.6. Business performance
- 9.10.7. Key strategic moves and developments