Product Code: GVR-4-68040-267-6
Hybrid Cars Market Growth & Trends:
The global hybrid cars market size is anticipated to reach USD 457.27 billion by 2030 and is projected to grow at a CAGR of 11.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing awareness and concern about climate change and air pollution have increased demand for more sustainable transportation. Hybrid cars, which combine an internal combustion engine with an electric motor, offer reduced emissions compared to traditional gasoline-powered vehicles, driving the demand for the market.
The increasing availability of charging infrastructure and support for electric vehicles is bolstering market growth. Governments and private companies are investing in expanding charging networks and infrastructure for electric vehicles. The availability of public charging stations and home charging solutions makes it easier for hybrid car owners to recharge their vehicles and transition to electric mode, enhancing the demand for hybrid vehicles.
In January 2023, The Department of Transport in Ireland announced an investment of euro 100 million (USD 108.0 million) investment plan for the development of new electric vehicle charging infrastructure from 2022 to 2025. A complementary implementation strategy outlines the steps to achieve Ireland's EV charging network expansion over the next three years. This initiative aims to assure car owners of the practicality of transitioning to electric vehicles while assisting Ireland in meeting its national carbon reduction objectives.
Hybrid Cars Market Report Highlights:
- Based on degree of hybridization, the full-hybrid segment held the largest revenue share of 47.2% in 2023. Full hybrids can switch seamlessly between the electric motor and internal combustion engine, offering a broader range of electric-only driving.
- Based on vehicle type, the SUV segment held the largest revenue share in 2023. and is also expected to grow at a significant CAGR over the forecast period. Increased investment in renewable energy sources drives interest in hybrid SUVs as part of a broader sustainability initiative.
- Asia Pacific dominated the industry with a share of 62.2% in 2023 and is projected to grow at a significant CAGR over the forecast period. Rising concerns about air quality and environmental sustainability have prompted governments in countries such as India and China to implement supportive policies and incentives for hybrid vehicles, encouraging their adoption.
- In September 2022, Volvo Car India launched its newest lineup of petrol mild-hybrid vehicles in the Indian market. The petrol mild-hybrid cars include the luxury sedan S90, XC90, mid-size SUV XC60, and compact SUV XC40. Volvo India has concluded its transition to providing petrol mild-hybrid models in its local car lineup to transform into a fully electric company by 2030.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Degree of hybridization
- 1.2.2. Vehicle type
- 1.2.3. Regional scope
- 1.2.4. Estimates and forecasts timeline
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Degree of hybridization outlook
- 2.2.2. Vehicle type outlook
- 2.3. Competitive Insights
Chapter 3. Global Hybrid Cars Market Variables, Trends & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Market Size and Growth Prospects (USD Billion)
- 3.3. Industry Value Chain Analysis
- 3.4. Market Dynamics
- 3.4.1. Market Drivers Analysis
- 3.4.1.1. Rising fuel prices and volatile oil markets
- 3.4.1.2. Advancements in hybrid technology, including improvements in battery technology and increased range
- 3.4.2. Market Restraints Analysis
- 3.4.2.1. Higher upfront cost compared to conventional vehicles
- 3.4.2.2. Limited availability of charging infrastructure for plug-in hybrid electric vehicles (PHEVs)
- 3.4.3. Industry Opportunities
- 3.4.4. Industry Challenges
- 3.5. Hybrid Cars Market Analysis Tools
- 3.5.1. Porter's Analysis
- 3.5.1.1. Bargaining power of the suppliers
- 3.5.1.2. Bargaining power of the buyers
- 3.5.1.3. Threats of substitution
- 3.5.1.4. Threats from new entrants
- 3.5.1.5. Competitive rivalry
- 3.5.2. PESTEL Analysis
- 3.5.2.1. Political landscape
- 3.5.2.2. Economic and Social landscape
- 3.5.2.3. Technological landscape
- 3.5.2.4. Environmental landscape
- 3.5.2.5. Legal landscape
Chapter 4. Hybrid Cars Market: Degree of Hybridization Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Hybrid Cars Market: Degree of Hybridization Movement Analysis, 2023 & 2030 (USD Billion)
- 4.2.1. Degree of Hybridization
- 4.2.1.1. Mild-hybrid market estimates and forecasts 2018 to 2030 (USD Billion)
- 4.2.2. Full-hybrid
- 4.2.2.1. Full-hybrid market estimates and forecasts 2018 to 2030 (USD Billion)
- 4.2.3. Plug-in-hybrid
- 4.2.3.1. Plug-in-hybrid market estimates and forecasts 2018 to 2030 (USD Billion)
Chapter 5. Hybrid Cars Market: Vehicle Type Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Hybrid Cars Market: Vehicle Type Movement Analysis, 2023 & 2030 (USD Billion)
- 5.2.1. Sedan
- 5.2.1.1. Sedan market estimates and forecasts 2018 to 2030 (USD Billion)
- 5.2.2. Hatchback
- 5.2.2.1. Hatchback market estimates and forecasts 2018 to 2030 (USD Billion)
- 5.2.3. SUV
- 5.2.3.1. SUV market estimates and forecasts 2018 to 2030 (USD Billion)
Chapter 6. Hybrid Cars Market: Regional Estimates & Trend Analysis
- 6.1. Hybrid Cars Market Share, By Region, 2023 & 2030 (USD Billion)
- 6.2. North America
- 6.2.1. Hybrid Cars Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.2.2. U.S.
- 6.2.2.1. U.S. hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.2.3. Canada
- 6.2.3.1. Canada hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.3. Europe
- 6.3.1. Europe Hybrid Cars Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.3.2. UK
- 6.3.2.1. UK hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.3.3. Germany
- 6.3.3.1. Germany hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.3.4. France
- 6.3.4.1. France hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.3.5. Italy
- 6.3.5.1. Italy hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.3.6. Spain
- 6.3.6.1. Spain hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.3.7. Netherlands
- 6.3.7.1. Netherlands hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.4. Asia Pacific
- 6.4.1. Asia Pacific Hybrid Cars Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.4.2. China
- 6.4.2.1. China hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.4.3. Japan
- 6.4.3.1. Japan hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.4.4. India
- 6.4.4.1. India hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.4.5. South Korea
- 6.4.5.1. South Korea hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.4.6. Australia
- 6.4.6.1. Australia hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.5. Latin America
- 6.5.1. Latin America Hybrid Cars Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.5.2. Brazil
- 6.5.2.1. Brazil hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.5.3. Mexico
- 6.5.3.1. Mexico hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.5.4. Argentina
- 6.5.4.1. Argentina hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.6. Middle East & Africa
- 6.6.1. Middle East & Africa Hybrid Cars Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.6.2. UAE
- 6.6.2.1. UAE hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.6.3. Saudi Arabia
- 6.6.3.1. Saudi Arabia hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
- 6.6.4. South Africa
- 6.6.4.1. South Africa hybrid cars market estimates and forecasts 2018 to 2030 (USD Billion)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Market Positioning
- 7.4. Company Heat Map Analysis
- 7.5. Strategy Mapping
- 7.5.1. Expansion
- 7.5.2. Mergers & acquisition
- 7.5.3. Partnerships & collaborations
- 7.5.4. New product launches
- 7.5.5. Research and development
- 7.6. Company Profiles
- 7.6.1. TOYOTA MOTOR CORPORATION
- 7.6.1.1. Company overview
- 7.6.1.2. Financial performance
- 7.6.1.3. Product benchmarking
- 7.6.1.4. Strategic initiatives
- 7.6.2. Lexus
- 7.6.2.1. Company overview
- 7.6.2.2. Financial performance
- 7.6.2.3. Product benchmarking
- 7.6.2.4. Strategic initiatives
- 7.6.3. Honda
- 7.6.3.1. Company overview
- 7.6.3.2. Financial performance
- 7.6.3.3. Product benchmarking
- 7.6.3.4. Strategic initiatives
- 7.6.4. BMW AG
- 7.6.4.1. Company overview
- 7.6.4.2. Financial performance
- 7.6.4.3. Product benchmarking
- 7.6.4.4. Strategic initiatives
- 7.6.5. Tesla
- 7.6.5.1. Company overview
- 7.6.5.2. Financial performance
- 7.6.5.3. Product benchmarking
- 7.6.5.4. Strategic initiatives
- 7.6.6. Volkswagen Group
- 7.6.6.1. Company overview
- 7.6.6.2. Financial performance
- 7.6.6.3. Product benchmarking
- 7.6.6.4. Strategic initiatives
- 7.6.7. Chevrolet
- 7.6.7.1. Company overview
- 7.6.7.2. Financial performance
- 7.6.7.3. Product benchmarking
- 7.6.7.4. Strategic initiatives
- 7.6.8. AUDI AG
- 7.6.8.1. Company overview
- 7.6.8.2. Financial performance
- 7.6.8.3. Product benchmarking
- 7.6.8.4. Strategic initiatives
- 7.6.9. Mercedes-AMG GmbH
- 7.6.9.1. Company overview
- 7.6.9.2. Financial performance
- 7.6.9.3. Product benchmarking
- 7.6.9.4. Strategic initiatives
- 7.6.10. Porsche
- 7.6.10.1. Company overview
- 7.6.10.2. Financial performance
- 7.6.10.3. Product benchmarking
- 7.6.10.4. Strategic initiatives
- 7.6.11. Kia Corporation
- 7.6.11.1. Company overview
- 7.6.11.2. Financial performance
- 7.6.11.3. Product benchmarking
- 7.6.11.4. Strategic initiatives