Market Share & Future Growth with Forecast of Global Hybrid Vehicle Market

Posted by Niks Deshmukh on August 30th, 2018

Ozone Market Reports projects that the Hybrid Vehicle market size will grow from in 2017 to by 2023, at an estimated CAGR of . The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.

The HEV segment, by propulsion type, is estimated to hold the largest market share in 2018. However, the PHEV segment is estimated to be the fastest growing during the forecast period because of the increasing adoption of mid- and large-sized vehicles and the development of electric infrastructure.The passenger car segment is estimated to hold the largest market share, in terms of volume, for the hybrid vehicle market, by vehicle type, during the forecast period. But, the commercial vehicle segment is estimated to be the fastest growing market owing to the ease of application of hybrid vehicle technology in commercial vehicle, increased driving range, fuel efficiency, and high focus of OEMs to reduce emissions from commercial vehicles.The full hybrid segment is estimated to hold the largest market share, by volume, for the hybrid vehicle market, by the degree of hybridization, during the forecast period. But the fastest growth can be seen in the mild hybrid segment. The growth of the full hybrid segment can be attributed to the improving fuel efficiency and reduced emission due to a continuous technology upgrade.

By Market Players:
Toyota, Ford, Volvo, Continental, ZF, Daimler, Hyundai, Honda, Schaefler, Borgwarner, Delphi Technologies, Allison Transmission, 

By Electric Powertrain type
Parallel Hybrid, Series Hybrid, 

By Component type
Battery, Electric Motor, Transmission, 

By Propulsion
HEV, PHEV, NGV, 

By Degree of Hybridization
Full Hybrid, Micro Hybrid, Mild Hybrid, 

By Vehicle Type
Passenger Car, Commercial Vehicle,

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