Hybrid & Electric Cars Market By Hybridization (Micro-hybrid, Mild-hybrid, Full-hybrid, and Plug-in hybrid), By Type (Hatchback, And Sedan), By Battery (NiMH, and Li-ion), By Propulsion (HEV, PHEV, and NGV), and By Region - Trends, Analysis and Forecast till 2030

Hybrid & Electric Cars market accounted for USD 135.5 Billion in 2018 with a CAGR of 28.60%. 

A hybrid electric vehicle (HEV) is a type of hybrid vehicle that combines a conventional internal combustion engine (ICE) system with an electric, propulsion system (hybrid vehicle drivetrain). The presence of the electric powertrain is intended to achieve either better fuel economy than a conventional vehicle or better performance. There is a variety of HEV types and the degree to which each function as an electric vehicle (EV) also varies. The most common form of HEV is the hybrid electric car, although hybrid electric trucks (pickups and tractors) and buses also exist.

The increasing demand for mild hybrid electric cars is an emerging trend in the hybrid electric car market. The acceptance rate of mild hybrid cars is rising across the globe, especially in emerging economies, such as China and India, owing to the low cost of such cars compared to full hybrid cars. Even though a full hybrid electric vehicle is more fuel-efficient than the mild one, the latter offers a better cost-to-benefit ratio because of its comparatively low upfront cost. To meet emission targets and save up on fuel costs, customers are finding more value in mild hybrid cars compared to other electric vehicles because of the formers' lower costs. The low price of hybrid electric cars, when compared with other electric cars, is one of the key growth drivers for the hybrid electric car market. In terms of price, HEVs are positioned midway between conventional and fully electric cars. HEVs are not only seen as an affordable option by customers, but they also feature the traditional design of conventional vehicles, a factor that adds a mainstream appeal to these cars. Among all-electric cars, HEVs are the most affordable, which is responsible for their increasing penetration across the world. The batteries and technologies used in battery electric vehicle (BEV) demand huge investments from the manufacturers, which, in turn, leads to an increase in the retail price of these cars.

The hybrid & electric cars market is segmented based on hybridization, type, battery, propulsion, and region.

Based on hybridization, the hybrid & electric cars market is segmented into micro-hybrid, mild-hybrid, full-hybrid, and plug-in hybrid.  The mild-hybrid electric car category is expected to see the faster growth in the hybrid electric car market during the forecast period, mainly due to the low price, easy mechanical integration of components and powertrains and other features, such as electric power steering, electric turbocharger/supercharger, and air conditioning, at a low cost.  Based on the Type, the target market is segmented into hatchback and sedan. Hatchbacks have largely dominated the hybrid electric car market, owing to the high consumer preference for small cars in major hybrid electric vehicle markets. Based on Battery, the global market is classified into NiMH and Li-ion. Nickel–metal hydride (NiMH) batteries accounted for the larger volume share in the hybrid electric car market, owing to their lower cost, higher durability, and more safety features. Based on Propulsion, the target market is bifurcated into HEV, PHEV, and NGV. The hybrid electric vehicles (HEV) market has witnessed significant growth due to the need for addressing future energy requirements. The need to attain sustainable transportation plays a significant role in driving electric vehicles demand.

Based on the region the hybrid & electric cars market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is predicted to register the fastest growth in the hybrid electric car market during the forecast period, owing to government support in the form of subsidies and stringent emission norms. Also, the increasing number of improved hybrid electric vehicles being developed by automakers and rising environmental concern among customers have further catalyzed the growth of the hybrid electric car industry in the region. Asia Pacific hybrid & electric cars market is projected to register a high CAGR over the forecast period owing to the growing trend of increasing government support in the form of incentives, coupled with the stringent emission norms in Japan, led to the growth of the hybrid electric car industry in the region during the historical period.

Detailed Segmentation:

Hybrid & Electric Cars Market, By Hybridization:

• Micro-hybrid
• Mild-hybrid
• Full-hybrid
• Plug-in hybrid

Hybrid & Electric Cars Market, By Type:

• Hatchback
• Sedan

Hybrid & Electric Cars Market, By Battery:

• NiMH
• Li-ion

Hybrid & Electric Cars Market, By Propulsion:

• HEV
• PHEV
• NGV

Hybrid & Electric Cars Market, By Region:

• North America
  • Middle East & Africa
    • Middle East & Africa Hybrid & Electric Cars Market, By Hybridization
    • Middle East & Africa Hybrid & Electric Cars Market, By Type
    • Middle East & Africa Hybrid & Electric Cars Market, By Battery
    • Middle East & Africa Hybrid & Electric Cars Market, By Propulsion
    • Middle East & Africa Hybrid & Electric Cars Market, By Country
      • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • Latin America Hybrid & Electric Cars Market, By Hybridization
    • Latin America Hybrid & Electric Cars Market, By Type
    • Latin America Hybrid & Electric Cars Market, By Battery
    • Latin America Hybrid & Electric Cars Market, By Propulsion
    • Latin America Hybrid & Electric Cars Market, By Country
      • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • Asia Pacific Hybrid & Electric Cars Market, By Hybridization
    • Asia Pacific Hybrid & Electric Cars Market, By Type
    • Asia Pacific Hybrid & Electric Cars Market, By Battery
    • Asia Pacific Hybrid & Electric Cars Market, By Propulsion
    • Asia Pacific Hybrid & Electric Cars Market, By Country
      • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • Europe Hybrid & Electric Cars Market, By Hybridization
    • Europe Hybrid & Electric Cars Market, By Type
    • Europe Hybrid & Electric Cars Market, By Battery
    • Europe Hybrid & Electric Cars Market, By Propulsion
    • Europe Hybrid & Electric Cars Market, By Country
      • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • North America Hybrid & Electric Cars Market, By Hybridization
  • North America Hybrid & Electric Cars Market, By Type
  • North America Hybrid & Electric Cars Market, By Battery
  • North America Hybrid & Electric Cars Market, By Propulsion
  • North America Hybrid & Electric Cars Market, By Country
    • U.S.
    • Canada

The key players operating the hybrid & electric cars market involves Renault, Volkswagen, Tesla Inc., Mercedes-Benz, Toyota Motor Corporation, Honda Motor Company Ltd., Nissan Motor Co. Ltd., Ford Motor Company, BYD Auto Co., Ltd., and Hyundai Motor Company. For instance, On April 23, 2019, Tesla announced Model S and Model X now come with an all-new drivetrain design that increases each vehicle’s range substantially, faster charging, more efficient design, and fully adaptive suspension. On December 20, 2020, Toyota announced to launch new model Yaris in Japan on Feb 10, 2020, with new-generation compact car surpasses its class with the provision of outstanding driving pleasure, WLTS test cycle fuel efficiency (for the Hybrid X), and the latest safety and security technologies.

Company Profile:

• Renault
• Volkswagen
• Tesla Inc.
• Mercedes-Benz
• Toyota Motor Corporation
• Honda Motor Company Ltd.
• Nissan Motor Co. Ltd.
• Ford Motor Company
• BYD Auto Co., Ltd.
• Hyundai Motor Company.