Hybrid EV Conversion Kit Market by Application, Vehicle Class: Global Opportunity Analysis and Industry Forecast, 2021-2031

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Severe government norms and regulations towards vehicle emission.
3.4.1.2. Surge in fuel prices
3.4.2. Restraints
3.4.2.1. Poor charging infrastructure
3.4.3. Opportunities
3.4.3.1. Technological advancements
3.5. COVID-19 Impact Analysis on the market

CHAPTER 4: HYBRID EV CONVERSION KIT MARKET, BY APPLICATION
4.1 Overview
4.1.1 Market size and forecast
4.2. Passenger Cars
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3. Commercial Vehicles
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country

CHAPTER 5: HYBRID EV CONVERSION KIT MARKET, BY VEHICLE CLASS
5.1 Overview
5.1.1 Market size and forecast
5.2. Mid priced
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3. Luxury
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country

CHAPTER 6: HYBRID EV CONVERSION KIT MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Application
6.2.3 North America Market size and forecast, by Vehicle Class
6.2.4 North America Market size and forecast, by country
6.2.4.1 U.S.
6.2.4.1.1 Key market trends, growth factors and opportunities
6.2.4.1.2 Market size and forecast, by Application
6.2.4.1.3 Market size and forecast, by Vehicle Class
6.2.4.2 Canada
6.2.4.2.1 Key market trends, growth factors and opportunities
6.2.4.2.2 Market size and forecast, by Application
6.2.4.2.3 Market size and forecast, by Vehicle Class
6.2.4.3 Mexico
6.2.4.3.1 Key market trends, growth factors and opportunities
6.2.4.3.2 Market size and forecast, by Application
6.2.4.3.3 Market size and forecast, by Vehicle Class
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Application
6.3.3 Europe Market size and forecast, by Vehicle Class
6.3.4 Europe Market size and forecast, by country
6.3.4.1 UK
6.3.4.1.1 Key market trends, growth factors and opportunities
6.3.4.1.2 Market size and forecast, by Application
6.3.4.1.3 Market size and forecast, by Vehicle Class
6.3.4.2 Germany
6.3.4.2.1 Key market trends, growth factors and opportunities
6.3.4.2.2 Market size and forecast, by Application
6.3.4.2.3 Market size and forecast, by Vehicle Class
6.3.4.3 France
6.3.4.3.1 Key market trends, growth factors and opportunities
6.3.4.3.2 Market size and forecast, by Application
6.3.4.3.3 Market size and forecast, by Vehicle Class
6.3.4.4 Rest of Europe
6.3.4.4.1 Key market trends, growth factors and opportunities
6.3.4.4.2 Market size and forecast, by Application
6.3.4.4.3 Market size and forecast, by Vehicle Class
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Application
6.4.3 Asia-Pacific Market size and forecast, by Vehicle Class
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Key market trends, growth factors and opportunities
6.4.4.1.2 Market size and forecast, by Application
6.4.4.1.3 Market size and forecast, by Vehicle Class
6.4.4.2 Japan
6.4.4.2.1 Key market trends, growth factors and opportunities
6.4.4.2.2 Market size and forecast, by Application
6.4.4.2.3 Market size and forecast, by Vehicle Class
6.4.4.3 India
6.4.4.3.1 Key market trends, growth factors and opportunities
6.4.4.3.2 Market size and forecast, by Application
6.4.4.3.3 Market size and forecast, by Vehicle Class
6.4.4.4 Rest of Asia-Pacific
6.4.4.4.1 Key market trends, growth factors and opportunities
6.4.4.4.2 Market size and forecast, by Application
6.4.4.4.3 Market size and forecast, by Vehicle Class
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Application
6.5.3 LAMEA Market size and forecast, by Vehicle Class
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Latin America
6.5.4.1.1 Key market trends, growth factors and opportunities
6.5.4.1.2 Market size and forecast, by Application
6.5.4.1.3 Market size and forecast, by Vehicle Class
6.5.4.2 Middle East
6.5.4.2.1 Key market trends, growth factors and opportunities
6.5.4.2.2 Market size and forecast, by Application
6.5.4.2.3 Market size and forecast, by Vehicle Class
6.5.4.3 Africa
6.5.4.3.1 Key market trends, growth factors and opportunities
6.5.4.3.2 Market size and forecast, by Application
6.5.4.3.3 Market size and forecast, by Vehicle Class

CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top player positioning, 2021

CHAPTER 8: COMPANY PROFILES
8.1 IX Energy Pvt. Ltd.
8.1.1 Company overview
8.1.2 Key Executives
8.1.3 Company snapshot
8.1.4 Operating business segments
8.1.5 Product portfolio
8.1.6 Business performance
8.1.7 Key strategic moves and developments
8.2 XL Fleet
8.2.1 Company overview
8.2.2 Key Executives
8.2.3 Company snapshot
8.2.4 Operating business segments
8.2.5 Product portfolio
8.2.6 Business performance
8.2.7 Key strategic moves and developments
8.3 Odyne Systems LLC
8.3.1 Company overview
8.3.2 Key Executives
8.3.3 Company snapshot
8.3.4 Operating business segments
8.3.5 Product portfolio
8.3.6 Business performance
8.3.7 Key strategic moves and developments
8.4 Stealth EV
8.4.1 Company overview
8.4.2 Key Executives
8.4.3 Company snapshot
8.4.4 Operating business segments
8.4.5 Product portfolio
8.4.6 Business performance
8.4.7 Key strategic moves and developments
8.5 Enginer
8.5.1 Company overview
8.5.2 Key Executives
8.5.3 Company snapshot
8.5.4 Operating business segments
8.5.5 Product portfolio
8.5.6 Business performance
8.5.7 Key strategic moves and developments
8.6 EVDrive
8.6.1 Company overview
8.6.2 Key Executives
8.6.3 Company snapshot
8.6.4 Operating business segments
8.6.5 Product portfolio
8.6.6 Business performance
8.6.7 Key strategic moves and developments
8.7 Altigreen Propulsion Labs Pvt. Ltd.
8.7.1 Company overview
8.7.2 Key Executives
8.7.3 Company snapshot
8.7.4 Operating business segments
8.7.5 Product portfolio
8.7.6 Business performance
8.7.7 Key strategic moves and developments
8.8 Hybrid Design Services Inc.
8.8.1 Company overview
8.8.2 Key Executives
8.8.3 Company snapshot
8.8.4 Operating business segments
8.8.5 Product portfolio
8.8.6 Business performance
8.8.7 Key strategic moves and developments
8.9 KPIT Technologies Ltd.
8.9.1 Company overview
8.9.2 Key Executives
8.9.3 Company snapshot
8.9.4 Operating business segments
8.9.5 Product portfolio
8.9.6 Business performance
8.9.7 Key strategic moves and developments
8.10 A123 Systems LLC
8.10.1 Company overview
8.10.2 Key Executives
8.10.3 Company snapshot
8.10.4 Operating business segments
8.10.5 Product portfolio
8.10.6 Business performance
8.10.7 Key strategic moves and developments

List of Tables
Table 1. Global Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 2. Hybrid Ev Conversion Kit Market for Passenger Cars, by Region, 2021-2031 (Revenue, $Million)
Table 3. Hybrid Ev Conversion Kit Market for Commercial Vehicles, by Region, 2021-2031 (Revenue, $Million)
Table 4. Global Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 5. Hybrid Ev Conversion Kit Market for Mid Priced, by Region, 2021-2031 (Revenue, $Million)
Table 6. Hybrid Ev Conversion Kit Market for Luxury, by Region, 2021-2031 (Revenue, $Million)
Table 7. Hybrid Ev Conversion Kit Market, by Region, 2021-2031 (Revenue, $Million)
Table 8. North America Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 9. North America Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 10. North America Hybrid Ev Conversion Kit Market, by Country, 2021-2031 (Revenue, $Million)
Table 11. U.S. Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 12. U.S. Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 13. Canada Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 14. Canada Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 15. Mexico Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 16. Mexico Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 17. Europe Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 18. Europe Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 19. Europe Hybrid Ev Conversion Kit Market, by Country, 2021-2031 (Revenue, $Million)
Table 20. UK Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 21. UK Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 22. Germany Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 23. Germany Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 24. France Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 25. France Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 26. Rest of Europe Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 27. Rest of Europe Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 28. Asia-Pacific Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 29. Asia-Pacific Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 30. Asia-Pacific Hybrid Ev Conversion Kit Market, by Country, 2021-2031 (Revenue, $Million)
Table 31. China Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 32. China Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 33. Japan Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 34. Japan Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 35. India Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 36. India Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 37. Rest of Asia-Pacific Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 38. Rest of Asia-Pacific Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 39. LAMEA Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 40. LAMEA Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 41. LAMEA Hybrid Ev Conversion Kit Market, by Country, 2021-2031 (Revenue, $Million)
Table 42. Latin America Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 43. Latin America Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 44. Middle East Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 45. Middle East Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 46. Africa Hybrid Ev Conversion Kit Market, by Application, 2021-2031 (Revenue, $Million)
Table 47. Africa Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021-2031 (Revenue, $Million)
Table 48. Ix Energy Pvt. Ltd.: Key Executives
Table 49. Ix Energy Pvt. Ltd.: Company Snapshot
Table 50. Ix Energy Pvt. Ltd.: Operating Segments
Table 51. Ix Energy Pvt. Ltd.: Product Portfolio
Table 52. Ix Energy Pvt. Ltd.: Net Sales
Table 53. Ix Energy Pvt. Ltd.: Key Stratergies
Table 54. Xl Fleet: Key Executives
Table 55. Xl Fleet: Company Snapshot
Table 56. Xl Fleet: Operating Segments
Table 57. Xl Fleet: Product Portfolio
Table 58. Xl Fleet: Net Sales
Table 59. Xl Fleet: Key Stratergies
Table 60. Odyne Systems LLC: Key Executives
Table 61. Odyne Systems LLC: Company Snapshot
Table 62. Odyne Systems LLC: Operating Segments
Table 63. Odyne Systems LLC: Product Portfolio
Table 64. Odyne Systems LLC: Net Sales
Table 65. Odyne Systems LLC: Key Stratergies
Table 66. Stealth Ev: Key Executives
Table 67. Stealth Ev: Company Snapshot
Table 68. Stealth Ev: Operating Segments
Table 69. Stealth Ev: Product Portfolio
Table 70. Stealth Ev: Net Sales
Table 71. Stealth Ev: Key Stratergies
Table 72. Enginer: Key Executives
Table 73. Enginer: Company Snapshot
Table 74. Enginer: Operating Segments
Table 75. Enginer: Product Portfolio
Table 76. Enginer: Net Sales
Table 77. Enginer: Key Stratergies
Table 78. Evdrive: Key Executives
Table 79. Evdrive: Company Snapshot
Table 80. Evdrive: Operating Segments
Table 81. Evdrive: Product Portfolio
Table 82. Evdrive: Net Sales
Table 83. Evdrive: Key Stratergies
Table 84. Altigreen Propulsion Labs Pvt. Ltd.: Key Executives
Table 85. Altigreen Propulsion Labs Pvt. Ltd.: Company Snapshot
Table 86. Altigreen Propulsion Labs Pvt. Ltd.: Operating Segments
Table 87. Altigreen Propulsion Labs Pvt. Ltd.: Product Portfolio
Table 88. Altigreen Propulsion Labs Pvt. Ltd.: Net Sales
Table 89. Altigreen Propulsion Labs Pvt. Ltd.: Key Stratergies
Table 90. Hybrid Design Services Inc.: Key Executives
Table 91. Hybrid Design Services Inc.: Company Snapshot
Table 92. Hybrid Design Services Inc.: Operating Segments
Table 93. Hybrid Design Services Inc.: Product Portfolio
Table 94. Hybrid Design Services Inc.: Net Sales
Table 95. Hybrid Design Services Inc.: Key Stratergies
Table 96. Kpit Technologies Ltd.: Key Executives
Table 97. Kpit Technologies Ltd.: Company Snapshot
Table 98. Kpit Technologies Ltd.: Operating Segments
Table 99. Kpit Technologies Ltd.: Product Portfolio
Table 100. Kpit Technologies Ltd.: Net Sales
Table 101. Kpit Technologies Ltd.: Key Stratergies
Table 102. A123 Systems LLC: Key Executives
Table 103. A123 Systems LLC: Company Snapshot
Table 104. A123 Systems LLC: Operating Segments
Table 105. A123 Systems LLC: Product Portfolio
Table 106. A123 Systems LLC: Net Sales
Table 107. A123 Systems LLC: Key Stratergies

List of Figures
Figure 1. Segmentation of Hybrid Ev Conversion Kit Market, 2021-2031
Figure 2. Hybrid Ev Conversion Kit Market, 2021-2031
Figure 3. Top Investment Pockets, by Region
Figure 4. Porter Five-1
Figure 5. Porter Five-2
Figure 6. Porter Five-3
Figure 7. Porter Five-4
Figure 8. Porter Five-5
Figure 9. Hybrid Ev Conversion Kit Market: Drivers, Restraints and Opportunities
Figure 10. Hybrid Ev Conversion Kit Market, by Application, 2021 (%)
Figure 11. Comparative Share Analysis of Passenger Cars Hybrid Ev Conversion Kit Market, 2021 and 2031 (%)
Figure 12. Comparative Share Analysis of Commercial Vehicles Hybrid Ev Conversion Kit Market, 2021 and 2031 (%)
Figure 13. Hybrid Ev Conversion Kit Market, by Vehicle Class, 2021 (%)
Figure 14. Comparative Share Analysis of Mid Priced Hybrid Ev Conversion Kit Market, 2021 and 2031 (%)
Figure 15. Comparative Share Analysis of Luxury Hybrid Ev Conversion Kit Market, 2021 and 2031 (%)
Figure 16. Hybrid Ev Conversion Kit Market by Region, 2021
Figure 17. U.S. Hybrid Ev Conversion Kit Market, 2021-2031 ($Million)
Figure 18. Canada Hybrid Ev Conversion Kit Market, 2021-2031 ($Million)
Figure 19. Mexico Hybrid Ev Conversion Kit Market, 2021-2031 ($Million)
Figure 20. UK Hybrid Ev Conversion Kit Market, 2021-2031 ($Million)
Figure 21. Germany Hybrid Ev Conversion Kit Market, 2021-2031 ($Million)
Figure 22. France Hybrid Ev Conversion Kit Market, 2021-2031 ($Million)
Figure 23. Rest of Europe Hybrid Ev Conversion Kit Market, 2021-2031 ($Million)
Figure 24. China Hybrid Ev Conversion Kit Market, 2021-2031 ($Million)
Figure 25. Japan Hybrid Ev Conversion Kit Market, 2021-2031 ($Million)
Figure 26. India Hybrid Ev Conversion Kit Market, 2021-2031 ($Million)
Figure 27. Rest of Asia-Pacific Hybrid Ev Conversion Kit Market, 2021-2031 ($Million)
Figure 28. Latin America Hybrid Ev Conversion Kit Market, 2021-2031 ($Million)
Figure 29. Middle East Hybrid Ev Conversion Kit Market, 2021-2031 ($Million)
Figure 30. Africa Hybrid Ev Conversion Kit Market, 2021-2031 ($Million)
Figure 31. Top Winning Strategies, by Year
Figure 32. Top Winning Strategies, by Development
Figure 33. Top Winning Strategies, by Company
Figure 34. Product Mapping of Top 10 Players
Figure 35. Competitive Dashboard
Figure 36. Competitive Heatmap of Top 10 Key Players
Figure 37. Top Player Positioning, 2021
Figure 38. Ix Energy Pvt. Ltd..: Net Sales ($Million)
Figure 39. Xl Fleet.: Net Sales ($Million)
Figure 40. Odyne Systems LLC.: Net Sales ($Million)
Figure 41. Stealth Ev.: Net Sales ($Million)
Figure 42. Enginer.: Net Sales ($Million)
Figure 43. Evdrive.: Net Sales ($Million)
Figure 44. Altigreen Propulsion Labs Pvt. Ltd..: Net Sales ($Million)
Figure 45. Hybrid Design Services Inc..: Net Sales ($Million)
Figure 46. Kpit Technologies Ltd..: Net Sales ($Million)
Figure 47. A123 Systems LLC.: Net Sales ($Million)

Executive Summary

According to the report titled, “Hybrid EV Conversion Kit Market," The hybrid ev conversion kit market was valued at $0.5 billion in 2021, and is estimated to reach $2.6 billion by 2031, growing at a CAGR of 16.5% from 2022 to 2031.

A hybrid electric vehicle (EV) conversion kit is a set of components and systems that are used to convert a traditional gasoline-powered vehicle into a hybrid EV. Hybrid EVs are vehicles that use both an internal combustion engine and an electric motor to power the vehicle.

Hybrid EV conversion kits typically include the following components:

Electric motor: The electric motor is used to power the vehicle and is typically located in the engine compartment or under the hood.

Battery pack: The battery pack stores electricity and provides power to the electric motor. Hybrid EV conversion kits typically use lithium-ion batteries, which are widely considered to be the most efficient and effective type of battery for use in EVs.

Charging system: The charging system is used to recharge the battery pack. Hybrid EV conversion kits typically use a plug-in charging system, which allows the battery pack to be charged by plugging it into an electrical outlet.

Controller: The controller is a device that manages the flow of electricity between the battery pack and the electric motor. It is responsible for controlling the speed and torque of the electric motor and ensuring that the vehicle performs optimally.

The rising demand for electric vehicles is one of the key factors boosting the market for hybrid EV conversion kits. Demand for electric vehicles, which are viewed as a more sustainable and environmentally friendly alternative to conventional gasoline-powered automobiles, is rising as environmental and air quality problems become more pressing. Incentives such as tax credits, subsidies, and other financial incentives have been put in place by numerous governments throughout the world to promote the use of electric vehicles. The demand for hybrid EV conversion kits has been stimulated by these policies. The rising price of gasoline and other fossil fuels is another factor driving growth in the market for hybrid EV conversion kits. The desire for electric vehicles is growing as fuel prices climb.

The market also offers growth opportunities to the key players in the market. Hybrid EV conversion kits have become more feasible and affordable because to the development of new technologies, such as better battery systems and efficient electric motors, which has fueled the demand for these goods. The market for hybrid EV conversion kits is being driven by rising customer awareness of the financial and environmental advantages of electric vehicles. Electric vehicles are gaining popularity among customers as a method to cut their carbon impact and save money on petrol.

The hybrid EV conversion kit market is segmented into application, vehicle class and region. By application, the market is divided into passenger cars and commercial vehicles. Depending on vehicle class, it is categorized into mid-priced and luxury. Region-wise, the Hybrid EV conversion kit Market are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific remains a significant participant in the Hybrid EV conversion kit Market. Major organizations and government institutions in the country are intensely putting resources into technology.

Competitive analysis and profiles of the major global Hybrid EV conversion kit Market players that have been provided in the report include Altigreen Propulsion Labs Pvt. Ltd, Enginer, EVDrive, Hybrid Design Services Inc., IX Energy Pvt. Ltd., KPIT Technologies Ltd., Odyne Systems LLC, Stealth EV, XL Fleet, A123 Systems LLC.

Key Market Insights

• By vehicle class, passenger cars segment was the highest revenue contributor to the market, with $357.8 million in 2021, and is estimated to reach $1,561.6 million by 2031, with a CAGR of 16.0%.
• By application, The mid priced segment was the highest revenue contributor to the market, with $406.8 million in 2021, and is estimated to reach $1,780.1 million by 2031, with a CAGR of 16.0%.
• Based on region, Asia-Pacific was the highest revenue contributor, accounting for $263.6 million in 2021, and is estimated to reach $1,183.8 million by 2031, with a CAGR of 16.3%

Companies Mentioned

• IX Energy Pvt. Ltd.
• XL Fleet
• Odyne Systems LLC
• Stealth EV
• Enginer
• EVDrive
• Altigreen Propulsion Labs Pvt. Ltd.
• Hybrid Design Services Inc.
• KPIT Technologies Ltd.
• A123 Systems LLC

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.