Press release
Hybrid Vehicle Market | Industry Trends & Forecast by 2025
The Hybrid Vehicle Market is estimated to be 3,687 thousand units in 2017 and is projected to reach 7,593 Thousand Units by 2025, at a CAGR of 8.94% during the forecast period.The market is primarily driven by the benefits offered by hybrid vehicles, such as better fuel efficiency, increased driving range, and low emission. Rising demand for mid- and large-sized PHEV and NGV cars, government initiatives pertaining to hybrid vehicles are likely to further boost the global market.
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The ecosystem of the hybrid vehicle market consists of hybrid vehicles technology manufacturers such as Delphi (UK), Continental (Germany), BorgWarner (US), ZF (Germany), and Schaeffler (Germany). The OEMs considered include Toyota (Japan), Honda (Japan), Hyundai (South Korea), Daimler (Germany), and Nissan (Japan).
The HEV segment, by propulsion type, is estimated to hold the largest market share in 2018. However, the PHEV segment is estimated to be the fastest growing during the forecast period because of the increasing adoption of mid- and large-sized vehicles and the development of electric infrastructure.
The passenger car segment is estimated to hold the largest market share, in terms of volume, for the global market, by vehicle type, during the forecast period. But, the commercial vehicle segment is estimated to be the fastest growing market owing to the ease of application of hybrid vehicle technology in the commercial vehicle, increased driving range, fuel efficiency, and high focus of OEMs to reduce emissions from commercial vehicles.
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The full hybrid segment is estimated to hold the largest market share, by volume, for the hybrid vehicles, by the degree of hybridization, during the forecast period. But the fastest growth can be seen in the mild hybrid segment. The growth of the full hybrid segment can be attributed to improving fuel efficiency and reduced emission due to a continuous technology upgrade.
The parallel hybrid is estimated to be the largest and fastest growing market, in terms of volume, in this market, by electric powertrain type. The market for parallel hybrids is likely to grow due to the increased use of regenerative braking technology. The regenerative braking system is the most commonly used technology in hybrid vehicles. The use of the regenerative braking system and the lesser cost of micro and mild hybrids compared to PHEVs will boost the demand for parallel hybrids.
The Asia Pacific is estimated to be the largest market for hybrid vehicles during the forecast period, followed by Europe and North America. The market growth in the region can be attributed to the increased sales of hybrid vehicles in Japan, China, and South Korea. Also, the Asia Pacific region is home to major players in the hybrid vehicles market, such as Toyota, Honda, Nissan, Kia, BYD, and Hyundai. Japan is the largest market in the hybrid vehicle segment worldwide.
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Target Audience:
*Auto OEMS
*Companies operating in the hybrid vehicle ecosystem
*Country-level governments and other policymakers
*Country-level industry associations and experts
*Distributors and suppliers of hybrid vehicle components
*Electric vehicle manufacturers
*Manufacturers of hybrid vehicle components
*Manufacturers of hybrid vehicles
*Raw material manufacturers
*Raw material suppliers
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
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