Global Market For Hybrid Electric Vehicles Is Likely To Witness A Stupendous CAGR Of Around 14% By The End Of 2031
Rockville, US, 2022-Oct-03 — /EPR Network/ —
Latest industry analysis by Fact MR, predicts sales of Hybrid Electric Vehicles to swell at propelled CAGR through 2031, as automotive sales gradually recover across the world. The report is intended at presenting insights into hidden growth opportunities and challenges. It also offers recommendations to help businesses to prep for unforeseen challenges.
The market intelligence study therefore includes demographics analysis so market players can plan their product and marketing strategy. It offers sales outlook in 20+ countries. It identifies the most lucrative segments to assist companies in creating winning strategies for future.
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The report offers actionable and valuable market insights of Hybrid Electric Vehicles. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Hybrid Electric Vehicles Market across various industries and regions.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Hybrid Electric Vehicles market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Hybrid Electric Vehicles
This newly published and insightful report sheds light on Market Insights of Hybrid Electric Vehicles, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Hybrid Electric Vehicles Market.
Market Snapshot
According to Fact.MR, the global market for hybrid electric vehicles is anticipated to showcase a stellar growth trajectory over the forecast period 2021-2031, registering a CAGR of over 14%. By 2021, the market is projected to reach US$ 29 Bn. Growth is majorly stimulated by an overall tilt towards fuel-efficient automobiles with the objective of alleviating environmental costs associated with fossil fuel consumption.
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Key Segments Covered
Power Source
- Stored Electricity HEVs
- On-Board Electric Generator HEVs
Powertrain
- Series Hybrid Electric Vehicles
- Parallel Hybrid Electric Vehicles
- Combined Hybrid Electric Vehicles
Vehicle
- Hybrid Electric Passenger Cars
- Commercial Hybrid Electric Vehicles
- Hybrid Electric Two Wheelers
- Other HEVs (Golf Cart, etc.)
Competitive Landscape
The global hybrid electric vehicles market is highly competitive in nature. Amid the growing competition in the hybrid electric vehicles market, leading players are focusing on strengthening their market position and gaining traction in the competitive global market.
- In April 2021, Ford Motor Company launched Mustang Mach-E SUV which has comfortably outfitted interior, seamless technology, and impressive range. This model is home to one truly iconic design paired with luxurious materials and standard driver-assist technologies like Ford Co-Pilot360™ 2.0.
- In July 2021, TotalEnergies signed a contract with Bolloré Group for the acquisition of ‘Blue Charge’. Upon the approval of the relevant authorities, TotalEnergies will manage and operate the largest electric vehicle charging network in Singapore, with more than 1,500 charge points installed in the city-state.
- This urban charging network represents around 85% of the charge points currently under operation in Singapore, access to electric vehicles owners as well as to the car sharing solution BlueSG.
5 Forecast Highlights on Global Hybrid Electric Vehicles Market
- Asia Pacific Excluding Japan (APEJ) is expected to remain dominant in the global hybrid electric vehicles market. APEJ hybrid electric vehicles market is projected to bring in nearly US$ 16,800 million revenues by the end of 2022.
- North America hybrid electric vehicles market is also expected to experience impressive growth during 2017-2022. Owing to the government focusing on pollution reduction, zero-emission vehicles are increasingly being promoted, hence, North America is witnessing the growth in adoption of hybrid electric vehicles. Moreover, manufacturers are also introducing cost-effective and lightweight vehicles.
- Stored electricity is expected to be the largest power source for hybrid electric vehicles. Towards the end of 2022, stored electricity is estimated to reach nearly US$ 33,600 million revenues. Meanwhile, the on board electric generator is also expected to witness significant growth during the forecast period, 2017-2022.
- Parallel hybrid powertrain system is estimated to account for nearly three-fourth of the revenue share by the end of 2017. The parallel hybrid powertrain system is projected to create an incremental opportunity of over US$ 16,600 million between 2017 and 2022.
- Compared to commercial hybrid electric vehicles, passenger hybrid electric cars are expected to witness robust growth. By the end of 2022, passenger hybrid electric cars are estimated to surpass US$ 25,200 million revenue. Whereas, commercial hybrid electric vehicles are projected to account for nearly one-third of the revenue share on global revenues by 2017 end.
Report Benefits & Key Questions Answered
- Hybrid Electric Vehicles Company & brand share analysis: The report offers in-depth Hybrid Electric Vehicles brand share analysis to estimate percentage of the market covered by Tier 1, Tier 2, and Tier 3 companies
- Hybrid Electric Vehicles Historical volume analysis: The report offers a comparative analysis between historic sales of Hybrid Electric Vehicles and projected sales performance for 2021-2031
- Hybrid Electric Vehicles Category & segment level analysis: Fact MR presents a comprehensive analysis of factors enabling sales growth across key segments. It underscores chief growth drivers and offers valuable information to identify sales prospects a local and regional levels
- Hybrid Electric Vehicles Consumption by demographics: To offer informed recommendation, the report studies behavior and consumption pattern of consumers. The demographics analysis is intended at helping business better understand consumer preference and design their product and market strategies around it
- Post COVID consumer spending on Hybrid Electric Vehicles: The Fact MR market survey carefully studies consumer spending behavior post COVID-19. It gauges how prevailing trends have influenced their behavior, subsequently impacting their spending power
More Valuable Insights on Hybrid Electric Vehicles Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Hybrid Electric Vehicles, Sales and Demand of Hybrid Electric Vehicles, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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