Industry Trends, Share, Size, Analysis and Forecast – Rust Wire

According to the latest report by IMARC Group titled, “Hybrid Electric Vehicle Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026”, the global hybrid electric vehicle market exhibited strong growth during 2015-2020. Looking forward, the market expects to grow at a CAGR of around 30% during 2021-2026.

Report Metric

Historical: 2015-2020

Base Year: 2020

Forecast Year: 2021-2026

Download free sample of the report:

Industry Definition and Application:

Hybrid electric vehicles (HEVs) are a type of vehicles that are powered by an internal combustion engine (ICE) and an electric motor. These vehicles use regenerative braking and automatic start-stop features that aid in preventing energy wastage. Furthermore, the excess energy from the engine is stored in batteries, thus resulting in better fuel economy. HEVs are considered an effective alternative to conventional vehicles as they require less power and produce low tailpipe emissions.

Market Trends and Drivers:

The rising environmental consciousness is one of the key factors driving the market growth. In addition to this, stringent governmental regulations regarding greenhouse gas (GHG) emissions and favorable policies supporting sustainable development are also catalyzing the demand for HEVs. For instance, governments of various countries are offering incentives, such as tax rebates, on the purchase of HEV, which is driving the market growth. Furthermore, manufacturers are focusing on introducing innovations, such as zero- and low-emission vehicles with soundless operations and high-performance engines, which is expected to create a positive outlook for the market in the coming years.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

View Report TOC, Figures and Tables:

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being

  • Toyota Motor Corporation,
  • Honda Motor Co. Ltd.,
  • Ford Motor Company,
  • Volkswagen Aktiengesellschaft,
  • General Motors Company,
  • Hyundai Motor Company,
  • Nissan Motor Corporation Ltd., etc.

Breakup by Propulsion Type:

1. Full Hybrids

2. Mild Hybrids

3. Plug-in Hybrids

4. Others

Breakup by Configuration Type:

1. Series HEV

2. Parallel HEV

3. Combination HEV

Breakup by Vehicle Type:

1. Passenger Cars

2. Commercial Vehicles

3. Two Wheelers

4. Others

Breakup by Power Source:

1. Stored Electricity

2. On Board Electric Generator

Breakup by Region:

1. North America

2. South Korea

3. United Kingdom

4. Latin America

5. Middle East and Africa

Browse related report:

Marine Propulsion Engine Market Report:

Marine Electric Vehicle Market Report:

Autonomous Vehicle Market Report:

Asia Pacific E-Bike Market Report:

China E-Bike Market Report:

Europe E-Bike Market Report:

India Off-the-Road Tire Market Report:

Marine Electric Vehicle Market Report:

Marine Propulsion Engine Market Report:

Electric Two-Wheeler Market Report:

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