Plug-In Hybrid Electric Vehicle Market Size is projected to value around US$ 189.47 Billion by 2030. The Plug-in Hybrid Electric Vehicle (PHEV) market is a dynamic quarter on the intersection of traditional and electric mobility. PHEVs seamlessly integrate inner combustion engines with electric propulsion, providing drivers with the flexibility of both electricity sources. This dual capability extends electric range, mitigating range anxiety prevalent in complete electric motors. PHEVs have received traction globally as a transitional solution, promoting power efficiency and reducing emissions. Automakers continue to spend money on PHEV technology, improving battery capabilities, and refining hybrid systems. With an evolving automobile landscape and developing environmental cognizance, the PHEV market serves as a bridge towards a sustainable, electrified future.
Further, pivotal breakthroughs in battery technology are remodeling the panorama for Plug-in Hybrid Electric Vehicles (PHEVs), extending their electric-powered variety, and broadening their enchantment across diverse motive force profiles. The synergy of electric vehicles and fuel engines in PHEVs gives dynamic acceleration and enhances gas efficiency, providing a compelling alternative to standard fuel-powered cars. Simultaneously, the global enlargement of charging infrastructure addresses "range anxiety" issues for PHEV proprietors, fostering a seamless transition to electrified use. As these three factors converge, PHEVs become technologically advanced, high-performing, and increasingly available alternatives, reflecting the evolving dynamics in the automobile industry toward more sustainable and efficient transportation.
In the global shift towards electrified transportation, Asia-Pacific, led by China's widespread vehicle market and sturdy government aid for Electric Vehicles (EVs), takes the lead. Europe and North America followed suit, propelled by mounted automakers and developing customer interest in sustainable mobility. Governments worldwide actively promote EVs and Plug-in Hybrid Electric Vehicles (PHEVs) through guidelines and incentives, with the U.S. providing federal tax credits for PHEV purchases. Significant players like Toyota, Ford, General Motors, and Hyundai heavily spend money on PHEV technology, introducing new trends and refining current ones to cater to diverse customer choices, signifying a transformative phase in the international automobile landscape. Hence, the Plug-in Hybrid Electric Vehicles Market was US$ 92.33 Billion in 2023.
In 2022 - Toyota has announced that it'll invest an extra US$ 35 Billion in growing plug-in hybrid electric cars (PHEVs). Last year, the business enterprise sold over 500,000 hybrids and PHEVs.
The report titled “Global Plug-in Hybrid Electric Vehicles Market By Vehicle Class (Low Priced, Mid-Priced, and Luxury), Car Type (SUV, MPV & Vans, Midsize & Large Cars, and Small & Compact Cars), Country (United States, Canada, France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey, China, Japan, India, South Korea, Thailand, Malaysia, Indonesia, Australia, New Zealand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa, and Rest of the World), Company Analysis (Tesla, BMW Group, BYD Company Ltd., Mercedes-Benz Group AG, Ford Motor Company, General Motor Company, Nissan Motor Co. Ltd., and Toyota Motor Corporation)” provides complete study of Global Plug-in Hybrid Electric Vehicles Industry.
2. Mid-Priced
3. Luxury
2. MPV & Vans
3. Midsize & Large Cars
4. Small & Compact Cars
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
6. Rest of the World
2. BMW Group
3. BYD Company Ltd.
4. Mercedes-Benz Group AG
5. Ford Motor Company
6. General Motor Company
7. Nissan Motor Co. Ltd.
8. Toyota Motor Corporation
Global Plug-In Hybrid Electric Vehicle Market is anticipated to expand at a CAGR of 10.82% from 2024 to 2030
Amid escalating climate change worries, customers are gravitating closer to fuel-efficient solutions. Plug-in Hybrid Electric Vehicles (PHEVs) become a compelling preference, seamlessly integrating electric and fuel power to curtail emissions and lessen reliance on fossil fuels. PHEVs, in particular, shine in metropolise driving scenarios, leveraging electric vehicles for quick commutes and significantly lowering emissions and noise pollutants. This urban-centric advantage positions PHEVs as champions for metropolis dwellers and environmentally aware drivers looking for a harmonious balance between sustainability and the practicality of their everyday transportation alternatives.Further, pivotal breakthroughs in battery technology are remodeling the panorama for Plug-in Hybrid Electric Vehicles (PHEVs), extending their electric-powered variety, and broadening their enchantment across diverse motive force profiles. The synergy of electric vehicles and fuel engines in PHEVs gives dynamic acceleration and enhances gas efficiency, providing a compelling alternative to standard fuel-powered cars. Simultaneously, the global enlargement of charging infrastructure addresses "range anxiety" issues for PHEV proprietors, fostering a seamless transition to electrified use. As these three factors converge, PHEVs become technologically advanced, high-performing, and increasingly available alternatives, reflecting the evolving dynamics in the automobile industry toward more sustainable and efficient transportation.
In the global shift towards electrified transportation, Asia-Pacific, led by China's widespread vehicle market and sturdy government aid for Electric Vehicles (EVs), takes the lead. Europe and North America followed suit, propelled by mounted automakers and developing customer interest in sustainable mobility. Governments worldwide actively promote EVs and Plug-in Hybrid Electric Vehicles (PHEVs) through guidelines and incentives, with the U.S. providing federal tax credits for PHEV purchases. Significant players like Toyota, Ford, General Motors, and Hyundai heavily spend money on PHEV technology, introducing new trends and refining current ones to cater to diverse customer choices, signifying a transformative phase in the international automobile landscape. Hence, the Plug-in Hybrid Electric Vehicles Market was US$ 92.33 Billion in 2023.
Mid-priced vehicle class emerges as a pivotal segment in the global Plug-in Hybrid Electric Vehicles (PHEV) market
By vehicle class, the Plug-in Hybrid Electric Vehicles Market is fragmented into low-priced, Mid-Priced, and Luxury. The global market for mid-priced plug-in hybrid electric vehicles is catering to a vast consumer base searching for a balance between affordability and superior electrified technology. Positioned among cost-friendly options and luxury counterparts, mid-priced PHEVs enchant cost-aware customers desiring efficient capabilities without compromising performance. This class witnesses a surge in recognition as automakers like Honda, Ford, and Hyundai introduce competitive trends, imparting an attractive combo of electrical performance and traditional driving range. The mid-priced PHEV class exemplifies a vital market niche, contributing extensively to the substantial adoption of electrified transportation globally.SUVs constitute a formidable presence in the global Plug-in Hybrid Electric Vehicles (PHEV) market, offering a compelling fusion of versatility and sustainability
By car type, the Plug-in Hybrid Electric Vehicles Market is categorized into SUV, MPV & Vans, Midsize and large Cars, and Small and compact Cars. The SUV car kind caters to various client alternatives, combining the practicality of an SUV with the efficient benefits of the PHEV technology. Renowned automakers, which include Tesla, Volvo, and Mitsubishi, have brought PHEV SUV models, offering sturdy electric-powered capabilities and spacious interiors. The SUV segment in the PHEV market is witnessing notable growth, driven by a growing demand for efficient options without compromising the commanding presence, application, and driving experience SUV lovers seek.United States is experiencing growth in the global plug-in hybrid electric vehicles (PHEVs) market
By country, the Plug-in Hybrid Electric Vehicles Market is divided into the United States, Canada, France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey, China, Japan, India, Australia, South Korea, Thailand, Malaysia, Indonesia, New Zealand, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, and Rest of World. In the evolving panorama of the worldwide Plug-in Hybrid Electric Vehicle (PHEV) marketplace, America plays an essential role while experiencing a nuanced increase compared to different regions. Climate change worries propel American clients towards eco-friendly alternatives, and PHEVs have grown to be a pragmatic preference bridging traditional fuel-powered automobiles and completely electric-powered ones. The US authorities incentivize PHEV adoption through federal tax credits, complemented by extra state-level incentives. Concurrently, US automakers are advancing PHEV generation, improving performance and competitiveness. Although in its early stages compared to Europe, the growing charging infrastructure is increasing step by step, particularly in primary cities, alleviating range anxiety and fostering multiplied PHEV adoption in the United States.Key Players
Leading businesses in the Global Plug-in Hybrid Electric Vehicles Market are Tesla, BMW Group, BYD Company Ltd., Mercedes-Benz Group AG, Ford Motor Company, General Motor Company, Nissan Motor Co. Ltd., and Toyota Motor Corporation.In 2022 - Toyota has announced that it'll invest an extra US$ 35 Billion in growing plug-in hybrid electric cars (PHEVs). Last year, the business enterprise sold over 500,000 hybrids and PHEVs.
The report titled “Global Plug-in Hybrid Electric Vehicles Market By Vehicle Class (Low Priced, Mid-Priced, and Luxury), Car Type (SUV, MPV & Vans, Midsize & Large Cars, and Small & Compact Cars), Country (United States, Canada, France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey, China, Japan, India, South Korea, Thailand, Malaysia, Indonesia, Australia, New Zealand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa, and Rest of the World), Company Analysis (Tesla, BMW Group, BYD Company Ltd., Mercedes-Benz Group AG, Ford Motor Company, General Motor Company, Nissan Motor Co. Ltd., and Toyota Motor Corporation)” provides complete study of Global Plug-in Hybrid Electric Vehicles Industry.
Vehicle Class - Global Plug-in Hybrid Electric Vehicles Market breakup in 3 viewpoints:
1. Low Priced2. Mid-Priced
3. Luxury
Car Type - Global Plug-in Hybrid Electric Vehicles Market breakup in 4 viewpoints:
1. SUV2. MPV & Vans
3. Midsize & Large Cars
4. Small & Compact Cars
Country - Global Plug-in Hybrid Electric Vehicles Market breakup in 26 viewpoints:
1. North America1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
6. Rest of the World
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. Tesla2. BMW Group
3. BYD Company Ltd.
4. Mercedes-Benz Group AG
5. Ford Motor Company
6. General Motor Company
7. Nissan Motor Co. Ltd.
8. Toyota Motor Corporation
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Plug In Hybrid Electric Vehicle Market
4. Market Dynamics
6. Market Share - Plug In Hybrid Electric Vehicle Market
7. Vehicle Class - Plug In Hybrid Electric Vehicle Market
8. Car Type - Plug in Hybrid Electric Vehicle Market
9. Countries - Plug In Hybrid Electric Vehicle Market
10. Porter’s Five Forces Analysis - Plug In Hybrid Electric Vehicle Market
11. SWOT Analysis - Plug In Hybrid Electric Vehicle Market
12. Key Players Analysis
List of Figures:
List of Tables:
Companies Mentioned
- Tesla
- BMW Group
- BYD Company Ltd.
- Mercedes-Benz Group AG
- Ford Motor Company
- General Motor Company
- Nissan Motor Co. Ltd.
- Toyota Motor Corporation
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
LOADING...
