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Pulished Date April, 2021
ID: 9807
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Hybrid Vehicles market segmentation by Electric Powertrain type (Parallel Hybrid, Series Hybrid), by Component type (Battery, Electric Motor, Transmission), by Propulsion (HEV, PHEV, NGV), by Degree of Hybridization (Full Hybrid, Micro Hybrid, Mild Hybrid), by Vehicle Type (Passenger Car, Commercial Vehicle) - Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2026.

Pulished: April, 2021
ID: 9807
Pages: 175

Market Overview:

The Hybrid Vehicle Market is projected to be 3,687 thousand units in 2021 and is expected to succeed in 7,593 Thousand Units by 2026, expanding at a CAGR of 8.94% during the forecast period.

The hybrid vehicle often comprises two or more different power sources, namely the internal combustion engine and therefore, the electric generator, which help operate the electrical motor. Sorts of fuel like petrol or diesel are wont to drive the petrol engine or the diesel, which successively drives the electrical al trains connected to the electric generator. The electrical al generator ultimately powers the electric motor. The first principle that drives the hybrid vehicles is that different sources of powering the engine work efficiently like different speeds. After this, the switching from one fuel to the opposite at the proper time leads to maximum efficiency yielded by the car engine. This ultimately results in the general fuel efficiency, thus, saving on the fuel cost required for operating the car. Hybrid Vehicles market, bringing to fore insights which will help stakeholders identify the opportunities also like challenges.

Recent Developments:

The chairman emeritus of Tata Group, Ratan Tata shared his views on the talk whether governments policies should support only all-electric vehicles or maybe hybrid vehicles to market adoption, calling for legislation that supports all technologies.

The transport ministry of India has written to the finance ministry posing for the products and services tax on hybrid vehicles to be reduced from 28%.

Long before the Toyota Prius and therefore the GM EV1 was conceived, a US company not otherwise known for creating cars showed a most unusual vehicle possibly described as a progenitor of plug-in hybrids.

Drivers and Restraints of Hybrid Vehicle:

Drivers:

Several factors aid within the growth of the global hybrid vehicle market. Firstly, the hike in fuel costs has led to customers demanding hybrid vehicles to bring down the car operating expense. Secondly, the governments of leading countries try to scale back the carbon footprint by switching to alternative automobile fuels and therefore, the hybrid vehicle option, which might cause reduced pollution. Thirdly, the scarcity of the fossil fuels thanks to excessive consumption has encouraged automakers to look for newer and cost-efficient technologies for automobiles, including the hybrid vehicles for safeguarding the more extended term on sales. Lastly, the increase in efficiency in terms of engine performance and fuel consumption can be easily achieved using hybrid vehicles.

The market is also driven by the advantages offered by hybrid vehicles, like better fuel efficiency, increased golf range, and low emission. Rising demand for mid- and large-sized PHEV and NGV cars, government initiatives concerning hybrid vehicles are likely to boost the worldwide market further.

Restraints:

High manufacturing cost associated with electric vehicles and low fuel economy & serviceability restrains the hybrid vehicle market growth. However, technological advancements in electric cars and proactive government initiatives are expected to unfold various opportunities for the expansion of the stakeholders of the hybrid vehicle market, like system integrators, vehicle manufacturers, engine manufactures, and component providers, in future.

Market Segmentation:

Market, By Electric Powertrain type

  • Parallel Hybrid 
  • Series Hybrid 

The parallel hybrid segment is projected to be the most extensive and fastest-growing market, in terms of volume, in this market, by electric powertrain type. The marketplace for parallel hybrids is probably going to grow thanks to the increased use of regenerative braking technology. The regenerative braking system is that the most ordinarily used technology in hybrid vehicles. The utilization of the regenerative braking system and therefore, the lesser cost of micro and mild hybrids will heighten the demand for these parallel hybrids.

Market, By Component type

  • Battery 
  • Electric Motor 
  • Transmission 

There has been tremendous growth in electric vehicles everywhere on the planet. China remains the dominant player globally within the pure electric vehicles market, with quite 47% of the worldwide market share followed by the US. The governments around the world are offering many subsidies for purchasers of electric and hybrid vehicles. As an example, in April 2016, a scheme worth USD 1.13 billion was launched primarily for plug-in electric vehicles. Approximately USD 678 million was reserved for the acquisition of subsidies, which is predicted to run until 2019. 

Market, By Propulsion

  • HEV 
  • PHEV 
  • NGV 

Market, By Degree of Hybridization

  • Full Hybrid 
  • Micro-Hybrid 
  • Mild Hybrid 

Market, By Vehicle Type

  • Passenger Car 
  • Commercial Vehicle 

The passenger cars segment holds a majority of the share within the global hybrid vehicles market. This is often thanks to the dominance of passenger cars within the automotive industry. Coach production in 2015 was quite 68 million units, way ahead than light and heavy commercial vehicles. It's projected that the hybrid vehicles marketplace for passenger cars will still be a significant market segment, and is estimated to garner a CAGR of 22.8% during the outlook period. Hybrid vehicles can be more fuel-efficient than conventional cars, because it utilizes power from automotive batteries, within the event of start-stop or at cruising speeds. Alongside this, the presence of an indoor combustion engine with the electrical system makes a hybrid vehicle more economical and straightforward to drive, especially in urban areas where traffic is typically high.

Hybrid Vehicle Market Region wise analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada
  2. Europe
    1. Norway
    2. Germany
    3. Sweden
  3. Asia Pacific
    1. China
    2. India
    3. Japan
  4. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  5. Middle East and Africa

a. Middle East

b. Africa

North America hybrid vehicles market is projected to grow gradually during the foreseen period. The governments in this region are focusing more on the zero emission vehicles. The US and Canada are expected to dominate the market in North America. Asia-pacific is predicted to witness high rate of growth during the forecast period. However, with countries like India and China, lifting subsidies for the acquisition of electrical vehicles may hinder the expansion of the market within the region. As an example, in India, the government lifted subsidies on mild-hybrid vehicles under FAME scheme in 2017.

Key Players of Market:

The key players in the global hybrid vehicle market are Toyota Motor Corporation (Japan), The Ford Motor Company (U.S.), AB Volvo (Sweden), Continental AG (Germany) and ZF Friedrichshafen AG (Germany). Daimler AG (Germany), Hyundai Motor Company (South Korea), Honda Motor Company, Ltd. (Japan), Schaeffler Technologies AG & Co. KG (Germany), BorgWarner Inc. (U.S.), Delphi Technologies, Inc. (U.K.) and Allison Transmission (U.S.)

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Hybrid Vehicles Market, By Electric Powertrain Type                  

                    6.1.1 Parallel Hybrid         

                    6.1.2 Series Hybrid 

                    6.1.3 Market Size Estimations & Forecasts (2019-2024)        

                    6.1.4 Y-o-Y Growth Rate Analysis         

                    6.1.5 Market Attractiveness Index         

          6.2 Hybrid Vehicles Market, By Component Type                  

                    6.2.1 Battery

                    6.2.2 Electric Motor

                    6.2.3 Transmission 

                    6.2.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.2.5 Y-o-Y Growth Rate Analysis         

                    6.2.6 Market Attractiveness Index         

          6.3 Hybrid Vehicles Market, By Propulsion                  

                    6.3.1 HEV     

                    6.3.2 PHEV   

                    6.3.3 NGV    

                    6.3.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.3.5 Y-o-Y Growth Rate Analysis         

                    6.3.6 Market Attractiveness Index         

          6.4 Hybrid Vehicles Market, By Degree of Hybridization                  

                    6.4.1 Full Hybrid     

                    6.4.2 Micro Hybrid  

                    6.4.3 Mild Hybrid    

                    6.4.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.4.5 Y-o-Y Growth Rate Analysis         

                    6.4.6 Market Attractiveness Index         

          6.5 Hybrid Vehicles Market, By Vehicle Type              

                    6.5.1 Passenger Car

                    6.5.2 Commercial Vehicle 

                    6.5.3 Market Size Estimations & Forecasts (2019-2024)        

                    6.5.4 Y-o-Y Growth Rate Analysis         

                    6.5.5 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Electric Powertrain Type 

                    7.2.3 By Component Type 

                    7.2.4 By Propulsion 

                    7.2.5 By Degree of Hybridization 

                    7.2.6 By Vehicle Type        

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Electric Powertrain Type 

                    7.3.3 By Component Type 

                    7.3.4 By Propulsion 

                    7.3.5 By Degree of Hybridization 

                    7.3.6 By Vehicle Type        

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Electric Powertrain Type 

                    7.4.3 By Component Type 

                    7.4.4 By Propulsion 

                    7.4.5 By Degree of Hybridization 

                    7.4.6 By Vehicle Type        

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Electric Powertrain Type 

                    7.5.3 By Component Type 

                    7.5.4 By Propulsion 

                    7.5.5 By Degree of Hybridization 

                    7.5.6 By Vehicle Type        

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Electric Powertrain Type 

                    7.6.3 By Component Type 

                    7.6.4 By Propulsion 

                    7.6.5 By Degree of Hybridization 

                    7.6.6 By Vehicle Type        

8. Key Player Analysis                           

          8.1 Toyota Motor Corporation               

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 The Ford Motor Company                

          8.3 AB Volvo          

          8.4 Continental AG           

          8.5 ZF Friedrichshafen AG           

          8.6 Daimler AG                 

          8.7 Hyundai Motor Company                 

          8.8 Honda Motor Company, Ltd.           

          8.9 Schaeffler Technologies AG & Co. KG                   

          8.10 BorgWarner Inc.                  

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by type, by application, by  region, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Hybrid Vehicles Market By Region, From 2021-2026 ( USD Billion )
  2. Global Hybrid Vehicles Market By Electric Powertrain Type, From 2021-2026 ( USD Billion )
  3. Global Parallel Hybrid Market By Region, From 2021-2026 ( USD Billion )
  4. Global Series Hybrid Market By Region, From 2021-2026 ( USD Billion )
  5. Global Hybrid Vehicles Market By Component Type, From 2021-2026 ( USD Billion )
  6. Global Battery Market By Region, From 2021-2026 ( USD Billion )
  7. Global Electric Motor Market By Region, From 2021-2026 ( USD Billion )
  8. Global Transmission Market By Region, From 2021-2026 ( USD Billion )
  9. Global Hybrid Vehicles Market By Propulsion, From 2021-2026 ( USD Billion )
  10. Global HEV Market By Region, From 2021-2026 ( USD Billion )
  11. Global PHEV Market By Region, From 2021-2026 ( USD Billion )
  12. Global NGV Market By Region, From 2021-2026 ( USD Billion )
  13. Global Hybrid Vehicles Market By Degree of Hybridization, From 2021-2026 ( USD Billion )
  14. Global Full Hybrid Market By Region, From 2021-2026 ( USD Billion )
  15. Global Micro Hybrid Market By Region, From 2021-2026 ( USD Billion )
  16. Global Mild Hybrid Market By Region, From 2021-2026 ( USD Billion )
  17. Global Hybrid Vehicles Market By Vehicle Type, From 2021-2026 ( USD Billion )
  18. Global Passenger Car Market By Region, From 2021-2026 ( USD Billion )
  19. Global Commercial Vehicle Market By Region, From 2021-2026 ( USD Billion )

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