How big is the Hybrid Vehicle Market?

The Hybrid Vehicle Market size is expected to reach USD 231.77 billion in 2024 and grow at a CAGR of 12.83% to reach USD 478.33 billion by 2029. Read More

What is the current Hybrid Vehicle Market size?

In 2024, the Hybrid Vehicle Market size is expected to reach USD 231.77 billion. Read More

Who are the key players in Hybrid Vehicle Market?

Toyota Motor Corporation, Honda Motor Company Ltd, BYD Co.Ltd, Mercedes-Benz Group and BMW AG are the major companies operating in the Hybrid Vehicle Market. Read More

Which is the fastest growing region in Hybrid Vehicle Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Hybrid Vehicle Market?

In 2024, the Asia-Pacific accounts for the largest market share in Hybrid Vehicle Market. Read More

What years does this Hybrid Vehicle Market cover, and what was the market size in 2023?

In 2023, the Hybrid Vehicle Market size was estimated at USD 202.03 billion. The report covers the Hybrid Vehicle Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Hybrid Vehicle Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the government incentives for Hybrid Vehicles in different regions?

The government incentives for Hybrid Vehicles in different regions are a) Tax breaks b) Subsidies c) Potential variations across countries Read More

Hybrid Vehicle Market Share

Statistics for the 2023 & 2024 Hybrid Vehicle market share, created by Mordor Intelligence™ Industry Reports. Hybrid Vehicle share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Hybrid Vehicle Industry

Some of the key players operating in the hybrid vehicles market are Ford Motor Company, General Motors Company, Honda Motor Co., Ltd, Daimler AG, and Volkswagen AG, which are also planning to provide enhanced product portfolios and technological breakthroughs in the hybrid vehicles market. For instance,

In November 2022, Mitsubishi Motors Corporation announced that the plug-in hybrid electric vehicle (PHEV) model of the all-new Outlander crossover SUV would be available in Canada and the United States. The new model provides the practicality and powerful ride expected of an SUV in various weather and road conditions, a safe ride unique to an electrified vehicle.

In October 2022, Daihatsu Motor Co., Ltd intended to release a hybrid minivan in the fall of 2023. The series hybrid system used in the compact hybrid vehicle (HV) Rocky will be significantly improved for mini vehicles to achieve a fuel efficiency of 30 kilometers per liter (WLTC mode) or higher, which would be among the best in the micro-mini class.