The global hybrid electric vehicle market size accounted for USD 98.66 billion in 2024, grew to USD 119.08 billion in 2025 and is predicted to surpass around USD 647.46 billion by 2034, representing a healthy CAGR of 20.70% between 2024 and 2034.
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
3.1. Market Snapshot
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
5.1. COVID-19 Landscape: Hybrid Electric Vehicle Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
8.1. Hybrid Electric Vehicle Market, by Type, 2024-2034
8.1.1. Full Hybrids
8.1.1.1. Market Revenue and Forecast (2021-2034)
8.1.2. Mild Hybrids
8.1.2.1. Market Revenue and Forecast (2021-2034)
8.1.3. Plug-in Hybrids
8.1.3.1. Market Revenue and Forecast (2021-2034)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2021-2034)
9.1. Hybrid Electric Vehicle Market, by Application, 2024-2034
9.1.1. Battery
9.1.1.1. Market Revenue and Forecast (2021-2034)
9.1.2. Electric Motor
9.1.2.1. Market Revenue and Forecast (2021-2034)
9.1.3. Transmission
9.1.3.1. Market Revenue and Forecast (2021-2034)
10.1. Hybrid Electric Vehicle Market, by Power Source, 2024-2034
10.1.1. Stored Electricity HEVs
10.1.1.1. Market Revenue and Forecast (2021-2034)
10.1.2. On-Board Electric Generator HEVs
10.1.2.1. Market Revenue and Forecast (2021-2034)
11.1. Hybrid Electric Vehicle Market, by Powertrain, 2024-2034
11.1.1. Series Hybrid Electric Vehicles
11.1.1.1. Market Revenue and Forecast (2021-2034)
11.1.2. Parallel Hybrid Electric Vehicles
11.1.2.1. Market Revenue and Forecast (2021-2034)
11.1.3. Combined Hybrid Electric Vehicles
11.1.3.1. Market Revenue and Forecast (2021-2034)
12.1. Hybrid Electric Vehicle Market, by Vehicle, 2024-2034
12.1.1. Hybrid Electric Passenger Cars
12.1.1.1. Market Revenue and Forecast (2021-2034)
12.1.2. Commercial Hybrid Electric Vehicles
12.1.2.1. Market Revenue and Forecast (2021-2034)
12.1.3. Hybrid Electric Two Wheelers
12.1.3.1. Market Revenue and Forecast (2021-2034)
12.1.4. Other HEVs (Golf Cart, etc.)
12.1.4.1. Market Revenue and Forecast (2021-2034)
13.1. North America
13.1.1. Market Revenue and Forecast, by Type (2021-2034)
13.1.2. Market Revenue and Forecast, by Application (2021-2034)
13.1.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.1.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.1.5. Market Revenue and Forecast, by Vehicle (2021-2034)
13.1.6. U.S.
13.1.6.1. Market Revenue and Forecast, by Type (2021-2034)
13.1.6.2. Market Revenue and Forecast, by Application (2021-2034)
13.1.6.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.1.6.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.1.7. Market Revenue and Forecast, by Vehicle (2021-2034)
13.1.8. Rest of North America
13.1.8.1. Market Revenue and Forecast, by Type (2021-2034)
13.1.8.2. Market Revenue and Forecast, by Application (2021-2034)
13.1.8.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.1.8.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.1.8.5. Market Revenue and Forecast, by Vehicle (2021-2034)
13.2. Europe
13.2.1. Market Revenue and Forecast, by Type (2021-2034)
13.2.2. Market Revenue and Forecast, by Application (2021-2034)
13.2.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.2.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.2.5. Market Revenue and Forecast, by Vehicle (2021-2034)
13.2.6. UK
13.2.6.1. Market Revenue and Forecast, by Type (2021-2034)
13.2.6.2. Market Revenue and Forecast, by Application (2021-2034)
13.2.6.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.2.7. Market Revenue and Forecast, by Powertrain (2021-2034)
13.2.8. Market Revenue and Forecast, by Vehicle (2021-2034)
13.2.9. Germany
13.2.9.1. Market Revenue and Forecast, by Type (2021-2034)
13.2.9.2. Market Revenue and Forecast, by Application (2021-2034)
13.2.9.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.2.10. Market Revenue and Forecast, by Powertrain (2021-2034)
13.2.11. Market Revenue and Forecast, by Vehicle (2021-2034)
13.2.12. France
13.2.12.1. Market Revenue and Forecast, by Type (2021-2034)
13.2.12.2. Market Revenue and Forecast, by Application (2021-2034)
13.2.12.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.2.12.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.2.13. Market Revenue and Forecast, by Vehicle (2021-2034)
13.2.14. Rest of Europe
13.2.14.1. Market Revenue and Forecast, by Type (2021-2034)
13.2.14.2. Market Revenue and Forecast, by Application (2021-2034)
13.2.14.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.2.14.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.2.15. Market Revenue and Forecast, by Vehicle (2021-2034)
13.3. APAC
13.3.1. Market Revenue and Forecast, by Type (2021-2034)
13.3.2. Market Revenue and Forecast, by Application (2021-2034)
13.3.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.3.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.3.5. Market Revenue and Forecast, by Vehicle (2021-2034)
13.3.6. India
13.3.6.1. Market Revenue and Forecast, by Type (2021-2034)
13.3.6.2. Market Revenue and Forecast, by Application (2021-2034)
13.3.6.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.3.6.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.3.7. Market Revenue and Forecast, by Vehicle (2021-2034)
13.3.8. China
13.3.8.1. Market Revenue and Forecast, by Type (2021-2034)
13.3.8.2. Market Revenue and Forecast, by Application (2021-2034)
13.3.8.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.3.8.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.3.9. Market Revenue and Forecast, by Vehicle (2021-2034)
13.3.10. Japan
13.3.10.1. Market Revenue and Forecast, by Type (2021-2034)
13.3.10.2. Market Revenue and Forecast, by Application (2021-2034)
13.3.10.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.3.10.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.3.10.5. Market Revenue and Forecast, by Vehicle (2021-2034)
13.3.11. Rest of APAC
13.3.11.1. Market Revenue and Forecast, by Type (2021-2034)
13.3.11.2. Market Revenue and Forecast, by Application (2021-2034)
13.3.11.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.3.11.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.3.11.5. Market Revenue and Forecast, by Vehicle (2021-2034)
13.4. MEA
13.4.1. Market Revenue and Forecast, by Type (2021-2034)
13.4.2. Market Revenue and Forecast, by Application (2021-2034)
13.4.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.4.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.4.5. Market Revenue and Forecast, by Vehicle (2021-2034)
13.4.6. GCC
13.4.6.1. Market Revenue and Forecast, by Type (2021-2034)
13.4.6.2. Market Revenue and Forecast, by Application (2021-2034)
13.4.6.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.4.6.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.4.7. Market Revenue and Forecast, by Vehicle (2021-2034)
13.4.8. North Africa
13.4.8.1. Market Revenue and Forecast, by Type (2021-2034)
13.4.8.2. Market Revenue and Forecast, by Application (2021-2034)
13.4.8.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.4.8.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.4.9. Market Revenue and Forecast, by Vehicle (2021-2034)
13.4.10. South Africa
13.4.10.1. Market Revenue and Forecast, by Type (2021-2034)
13.4.10.2. Market Revenue and Forecast, by Application (2021-2034)
13.4.10.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.4.10.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.4.10.5. Market Revenue and Forecast, by Vehicle (2021-2034)
13.4.11. Rest of MEA
13.4.11.1. Market Revenue and Forecast, by Type (2021-2034)
13.4.11.2. Market Revenue and Forecast, by Application (2021-2034)
13.4.11.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.4.11.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.4.11.5. Market Revenue and Forecast, by Vehicle (2021-2034)
13.5. Latin America
13.5.1. Market Revenue and Forecast, by Type (2021-2034)
13.5.2. Market Revenue and Forecast, by Application (2021-2034)
13.5.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.5.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.5.5. Market Revenue and Forecast, by Vehicle (2021-2034)
13.5.6. Brazil
13.5.6.1. Market Revenue and Forecast, by Type (2021-2034)
13.5.6.2. Market Revenue and Forecast, by Application (2021-2034)
13.5.6.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.5.6.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.5.7. Market Revenue and Forecast, by Vehicle (2021-2034)
13.5.8. Rest of LATAM
13.5.8.1. Market Revenue and Forecast, by Type (2021-2034)
13.5.8.2. Market Revenue and Forecast, by Application (2021-2034)
13.5.8.3. Market Revenue and Forecast, by Power Source (2021-2034)
13.5.8.4. Market Revenue and Forecast, by Powertrain (2021-2034)
13.5.8.5. Market Revenue and Forecast, by Vehicle (2021-2034)
14.1. ZF
14.1.1. Company Overview
14.1.2. Product Offerings
14.1.3. Financial Performance
14.1.4. Recent Initiatives
14.2. Delphi
14.2.1. Company Overview
14.2.2. Product Offerings
14.2.3. Financial Performance
14.2.4. Recent Initiatives
14.3. BorgWarner
14.3.1. Company Overview
14.3.2. Product Offerings
14.3.3. Financial Performance
14.3.4. Recent Initiatives
14.4. Continenta
14.4.1. Company Overview
14.4.2. Product Offerings
14.4.3. Financial Performance
14.4.4. Recent Initiatives
14.5. Schaeffler
14.5.1. Company Overview
14.5.2. Product Offerings
14.5.3. Financial Performance
14.5.4. Recent Initiatives
14.6. Ford
14.6.1. Company Overview
14.6.2. Product Offerings
14.6.3. Financial Performance
14.6.4. Recent Initiatives
14.7. Toyota
14.7.1. Company Overview
14.7.2. Product Offerings
14.7.3. Financial Performance
14.7.4. Recent Initiatives
14.8. Continental
14.8.1. Company Overview
14.8.2. Product Offerings
14.8.3. Financial Performance
14.8.4. Recent Initiatives
14.9. Volvo
14.9.1. Company Overview
14.9.2. Product Offerings
14.9.3. Financial Performance
14.9.4. Recent Initiatives
14.10. Honda
14.10.1. Company Overview
14.10.2. Product Offerings
14.10.3. Financial Performance
14.10.4. Recent Initiatives
15.1. Primary Research
15.2. Secondary Research
15.3. Assumptions
16.1. About Us
16.2. Glossary of Terms
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