A hybrid electric vehicle (HEV) is a vehicle which runs on the energy stored in batteries. It works on the fusion of an internal combustion engine and an electric propulsion system. The battery is charged by using a regenerative braking which converts the energy, which is lost during coasting and decelerating into electricity. Compared to combustion engine-based automobiles, hybrid electric vehicles have reduced fuel consumption, CO2 emissions and maintenance costs, which make them more cost-beneficial even at low speeds. The rising demand for fuel-efficient automobiles across the world is one of the primary driving factors in the market. Furthermore, the rising environmental consciousness among consumers is also offering a boost to the hybrid electric vehicle market growth. This has resulted in an increased focus on the development of innovative designs and advanced technologies to manufacture zero and low emission vehicles with noise-less operations and high-performance engines. In addition, the enforcement of favorable government initiatives intensifying the adoption of electric vehicles (EVs) for sustainable development is also creating a positive impact for the hybrid electric vehicle market. For instance, several incentives, such as tax benefits, utility rate reductions, parking privileges and other rebates, are provided to consumers to increase the adoption rates of hybrid electric vehicles. Apart from this, the advancements in the EV charging infrastructure are resulting in significant investments by power sector shareholders in automobile utilities and charging hardware. Few other factors, such as rising disposable incomes in developing countries, rapid urbanization, and exceptional research and development (R&D) activities, are anticipated to propel the hybrid electric vehicle market in the upcoming years. On the other hand, the increasing demand for the battery electric vehicles (BEVs) and fuel cell electric vehicles (FCEVs) are likely to hamper the market growth.

In addition, the developing countries, such as China, Indonesia, India, Brazil and South Korea, hold a significant potential for the market players in the hybrid electric vehicle market. This is majorly owing to the high gasoline prices, stringent emission norms and high demand for passenger electric vehicles in these countries.

The global Hybrid Electric Vehicles Market is segregated on the basis of Propulsion Type as Full Hybrids, Mild Hybrids, Plug-in Hybrids and Others. Based on Configuration Type the global Hybrid Electric Vehicles Market is segmented in Series, HEV, Parallel HEV and Combination HEV. Based on Vehicle Type the global Hybrid Electric Vehicles Market is segmented in Passenger Cars, Commercial Vehicles, Two Wheelers and Others. Based on Power Source the global Hybrid Electric Vehicles Market is segmented in Stored Electricity and On Board Electric Generator.

The global Hybrid Electric Vehicles Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Hybrid Electric Vehicles Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

BMW AG, Daimler AG, Ford Motor Co., Geely Automobile Holdings Ltd. and others are among the major players in the global Hybrid Electric Vehicles Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• Ford is funding USD 11 billion in electrification, with a plan to include 40 hybrid and fully electric vehicles to its lineup by 2022.
• The Indian, as well as, the Brazilian governments are opting for the offering of incentives of various kinds and curbing the tax rate of CNG hybrid, plug-in as well as, the hybrid electric transport services. The Indian government is also projected to invest USD 446 million for the same. The Brazilian government is also undertaking campaigns and informative programs to proliferate the benefits of using hybrid electric vehicles.
• The European nation, along with the United States Environmental Protection Agency, has implemented the strict and stringent emission norms. The result of these norms is that the hybrid electric vehicle market is witnessing a major rise in the demand for the use of hybrid electric vehicles.
• The Mumbai Metropolitan Region Development Authority (MMRDA), a part of the Asia Pacific region, has lately, entered into a contract with Tata motors. According to the contract, 25 Tata Starbus Electric buses of the diesel series will be running on the roads soon.

The global Hybrid Electric Vehicles Market has been segmented as below:

Hybrid Electric Vehicles Market, By Propulsion Type

• Full Hybrids
• Mild Hybrids
• Plug-in Hybrids
• Others

Hybrid Electric Vehicles Market, By Configuration Type

• Series HEV
• Parallel HEV
• Combination HEV

Hybrid Electric Vehicles Market, By Vehicle Type

• Passenger Cars
• Commercial Vehicles
• Two Wheelers
• Others

Hybrid Electric Vehicles Market, By Power Source

• Stored Electricity
• On Board Electric Generator

Hybrid Electric Vehicles Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Hybrid Electric Vehicles Market, By Company

• BMW AG
• Daimler AG
• Ford Motor Co.
• Geely Automobile Holdings Ltd.
• General Motors Co.
• Honda Motor Co. Ltd.
• Hyundai Motor Co.
• Mitsubishi Motors Corp.
• Nissan Motor Co. Ltd.
• Toyota Motor Corp.
• Volkswagen Aktiengesellschaft
• Mercedes-Benz
• Porsche
• Infiniti
• Lexus
• Mahindra & Mahindra Ltd
• Delphi
• Continental AG
• BorgWarner
• ZF and Schaeffler
• Volvo Cars
• Allison Transmission
  

The report covers the below scope:

• Global Hybrid Electric Vehicles Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Hybrid Electric Vehicles Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Hybrid Electric Vehicles Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Hybrid Electric Vehicles Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Hybrid Electric Vehicles Market share. Major industry players with significant revenue share include BMW AG, Daimler AG, Ford Motor Co., Geely Automobile Holdings Ltd., General Motors Co., Honda Motor Co. Ltd. and others.

Why to Buy this Report:

• Gain detailed insights on the Hybrid Electric Vehicles industry trends
• Find complete analysis on the market status
• Identify the Hybrid Electric Vehicles Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

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