Press release
Hybrid Electric Vehicle Market To Grow at CAGR of 28% by 2032 | Top Manufacturers, Sales Statistics, Report
IMARC Group, a leading market research company, has recently releases report titled "Hybrid Electric Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032" The hybrid electric vehicle market size reached 10.0 Million Units in 2023. Looking forward, IMARC Group expects the market to reach 98.5 Million Units by 2032, exhibiting a growth rate (CAGR) of 28% during 2024-2032.Factors Affecting the Growth of the Hybrid Electric Vehicle Industry:
• Environmental Concerns and Emission Regulations:
The rising concerns about environmental degradation and global warming is bolstering the market growth. The governing bodies worldwide are imposing stringent emission regulations to combat climate change, with transport contributing significantly to carbon emissions. This regulatory landscape is prompting automakers to innovate and invest in hybrid technologies. Hybrid electric vehicles (HEVs), combining internal combustion engines with electric propulsion, offer a practical solution by significantly reducing emissions compared to traditional vehicles.
Advancements in Battery Technology and Infrastructure:
Innovations in battery technology are propelling the market growth. Modern HEVs benefit from lighter, more efficient, and longer-lasting batteries, which enhance the range and performance of the vehicles while reducing costs. The development of lithium-ion (Li-on) batteries is offering higher energy densities and extended lifespans than traditional nickel-metal hydride batteries. This evolution is pivotal in making HEVs more appealing to buyers by addressing range anxiety and improving the overall driving experience. Additionally, improvements in charging infrastructure, including the increasing availability of public and home charging stations, are easing the transition to hybrid vehicles.
• Government Incentives and Support:
Many countries are offering tax reductions, subsidies, and grants to both manufacturers and buyers of HEVs. These incentives are designed to reduce the cost barrier associated with HEVs, making them more competitive with traditional combustion engine vehicles. Additionally, rebates on purchase prices, exemptions from registration and road taxes, and benefits like free parking and access to restricted zones significantly increase the attractiveness of HEVs for buyers. Furthermore, governments are investing in research and development (R&D) to advance hybrid technology, which is encouraging automotive manufacturers to increase their HEV offerings. This supportive policy environment is fostering innovation and eases the financial burden on buyers and manufacturers alike.
Request For Sample Copy of Report For More Detailed Market insight: https://www.imarcgroup.com/hybrid-electric-vehicle-market/requestsample
Leading Companies Operating in the Global Hybrid Electric Vehicle Industry:
• Toyota Motor Corporation
• Honda Motor Co. Ltd.
• Ford Motor Company
• Volkswagen Aktiengesellschaft
• General Motors Company
• Hyundai Motor Company
• Nissan Motor Corporation Ltd.
Global Hybrid Electric Vehicle Market Trends:
The increasing electrification of public and commercial transportation fleets is supporting the market growth. Cities around the world are investing in hybrid buses and taxis to reduce urban pollution and meet climate goals. This shift is driven by the need for sustainable urban mobility solutions that can accommodate high passenger volumes while minimizing environmental impact. The ability of HEVs to significantly cut emissions and operate quietly is becoming the preferred choice for public transport systems. This trend not only reflects a commitment to greener transportation but also encourages the wider adoption and acceptance of HEVs in society.
Explore Full Report: https://www.imarcgroup.com/hybrid-electric-vehicle-market
Hybrid Electric Vehicle Market Report Segmentation:
By Propulsion Type:
• Full Hybrids
• Mild Hybrids
• Plug-in Hybrids
• Others
Plug-in hybrid represents the largest segment attributed to the increasing demand for vehicles offering the flexibility of both electric and gasoline propulsion systems.
By Configuration:
• Series HEV
• Parallel HEV
• Combination HEV
Parallel HEV holds the biggest market share due to their efficiency and simplicity.
By Vehicle Type:
• Passenger Cars
• Commercial Vehicles
• Two-Wheelers
• Others
Stored electricity accounts for the majority of the market share as it is supported by the growing adoption of electric vehicles (EVs) powered primarily by stored electricity in batteries, which aligns with environmental sustainability goals.
By Power Source:
• Stored Electricity
• On Board Electric Generator
Passenger cars exhibit a clear dominance in the market on account of the ubiquitous forms of transportation.
Regional Insights:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa
North America dominates the market, owing to the growing infrastructure development and increasing government incentives.
Other Key Points Covered in the Report:
• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Hybrid Electric Vehicle Market To Grow at CAGR of 28% by 2032 | Top Manufacturers, Sales Statistics, Report here
News-ID: 3357940 • Views: …
More Releases from IMARC Group

GCC Pet Food Market Size is Expected to Reach USD 422.9 Million By 2033 | CAGR: …
GCC Pet Food Market Overview
Market Size in 2024: USD 266.2 Million
Market Size in 2033: USD 422.9 Million
Market Growth Rate 2025-2033: 5.3%
According to IMARC Group's latest research publication, "GCC Pet Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", the GCC pet food market size was valued at USD 266.2 Million in 2024. Looking forward, IMARC Group estimates the market to reach USD 422.9 Million by 2033, exhibiting a…

GCC Residential Real Estate Market Size to Worth USD 147.77 Billion by 2033 | Wi …
GCC Residential Real Estate Market Overview
Market Size in 2024: USD 73.31 Billion
Market Size in 2033: USD 147.77 Billion
Market Growth Rate 2025-2033: 7.50%
According to IMARC Group's latest research publication, "GCC Residential Real Estate Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", the GCC residential real estate market size was valued at USD 73.31 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 147.77 Billion by…

GCC Drones Market Size to Surpass USD 2,005.3 Million by 2033 | With a 13.3% CAG …
GCC Drones Market Overview
Market Size in 2024: USD 588.2 Million
Market Size in 2033: USD 2,005.3 Million
Market Growth Rate 2025-2033: 13.3%
According to IMARC Group's latest research publication, "GCC Drones Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", The GCC drones market size was valued at USD 588.2 Million in 2024. Looking forward, IMARC Group estimates the market to reach USD 2,005.3 Million by 2033, exhibiting a growth rate of…

Medical Imaging Market to Surpass USD 70.8 Billion by 2033, at a CAGR of 5.03%
Market Overview:
The medical imaging market is experiencing rapid growth, driven by Growing Burden of Chronic and Age-Related Diseases, Expansion of Government-Funded Health Infrastructure and Technological Advancements in Imaging Modalities. According to IMARC Group's latest research publication, "Medical Imaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", The global medical imaging market size reached USD 44.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach…
More Releases for HEV
HEV Light Sunscreen Market Size, Trends, Growth: Global Forecast 2025-2031
Unlock the Future of the HEV Light Sunscreen Market: Comprehensive Global Market Report 2025-2031
Global leading market research publisher QYResearch published the release of its latest report, "HEV Light Sunscreen - Global Market Share, Ranking, Sales, and Demand Forecast 2025-2031". This in-depth report provides a complete analysis of the global HEV Light Sunscreen market, offering critical insights into market size, share, demand, industry development status, and future forecasts. Whether you're a…
Military Hybrid Electric Vehicle (HEV) Market Size Analysis by Application, Type …
According to Market Research Intellect, the global Military Hybrid Electric Vehicle (HEV) market under the Aerospace and Defense category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The market for military hybrid electric vehicles (HEVs) is expanding rapidly due to the growing need…
High Voltage Power Cable For EV And HEV Market Size Analysis by Application, Typ …
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- According to Market Research Intellect, the global High Voltage Power Cable For EV And HEV market in the Internet, Communication and Technology category is projected to witness significant growth from 2025 to 2032. Market dynamics, technological advancements, and evolving consumer demand are expected to drive expansion during this period.
Due to the increased demand for electrified transportation, the market for high voltage power cables for electric vehicles (EVs)…
Global HEV Lithium-ion Battery Market Research Report 2018-2023
The Global HEV Lithium-ion Battery Market to 2023 offers point by point inclusion of guanidine Global HEV Lithium-ion Battery Sales industry and presents primary market patterns. The statistical surveying gives authentic and estimate advertise size, request and generation conjectures, end-use request subtleties, value patterns, and friend’s offers of the main Global HEV Lithium-ion Battery Market makers to give thorough inclusion of the guanidine carbonate.
Get sample copy of report:
https://www.marketdensity.com/contact?ref=Sample&reportid=6170
Table of Contents
Chapter…
Global Hybrid Electric Vehicle (HEV) Market Forecasts and Opportunities 2019
This report focus on Global and Regional Hybrid Electric Vehicle (HEV) Market, providing information on major players like manufacturers, suppliers, distributors, traders, customers, investors and etc., major types, major applications from Global and major regions such as Europe, North American, South American, Asia (Excluding China), China and etc. Data type include capacity, production, market share, price, revenue, cost, gross, gross margin, growth rate, consumption, import, export and etc. Industry chain,…
Asia-Pacific Automotive Hybrid Transmission Systems Market: By Applications - in …
Latest industry research report on: Asia-Pacific Automotive Hybrid Transmission Systems Market : Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts
Geographically, this report split Asia-Pacific into several key Regions, with sales (K Units), revenue (Million USD), market share and growth rate of Automobile Carburetors for these regions, from 2012 to 2022 (forecast), including
China
Japan
South Korea
Taiwan
India
Southeast Asia
Australia
Request For Sample Report @ http://www.marketresearchreports.biz/sample/sample/1058545
Asia-Pacific Automobile Carburetors market competition by top manufacturers/players,…