Hybrid Car Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2025 - 2030)

The Report Covers Global Hybrid Vehicle Market Share & Growth and It is Segmented by Hybrid Type (Micro-Hybrid, Mild-Hybrid, Full-Hybrid, and Plug-In Hybrid), Vehicle Type (Passenger Cars and Commercial Vehicles), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Report Offers the Market Size and Forecast in Value (USD) for all the Above Segments.

Hybrid Car Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2025 - 2030)

Hybrid Vehicle Market Size

Hybrid Vehicle Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 261.51 Billion
Market Size (2030) USD 478.19 Billion
CAGR (2025 - 2030) 12.83 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Hybrid Car Market Summary

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Hybrid Vehicle Market with other markets in Automotive Industry

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Hybrid Vehicle Market Analysis

The Hybrid Vehicle Market size is estimated at USD 261.51 billion in 2025, and is expected to reach USD 478.19 billion by 2030, at a CAGR of 12.83% during the forecast period (2025-2030).

  • The COVID-19 pandemic positively impacted the hybrid vehicle market as the pandemic has crystallized attitudes toward the environment by revealing cleaner air and lower pollution levels during the lockdown. COVID-19 increased their environmental awareness, and these concerns are now reflected in intentions to purchase more sustainable electric and hybrid vehicles. The forecast period is expected to be optimistic as manufacturers plan to launch new models to attract customers. For instance, in November 2022, Toyota Australia announced several updates to its popular Corolla hatch and sedan lineups, including Toyota Connected Services functionality and the latest-generation hybrid powertrain.
  • Over the long term, some of the major factors driving the market's growth are the enactment of stringent emission and fuel economy norms and government incentives for promoting the purchase and adoption of hybrid vehicles. Additionally, with governments taking stringent actions in the form of regulation and incentives, along with the increased initiatives for the provision of public charging stations for electric vehicles, the hybrid vehicle market is expected to grow at a high rate.
  • For instance, in February 2022, According to the government of India, the subsidy under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) program for fiscal 2023 is expected to be INR 2,908 crore (USD 351 million), which is more than three-and-a-half times the allocation of INR 800 crore (USD 96.5 million) for this fiscal year and nearly nine times the allocation for FY21.
  •  Major players in the hybrid vehicles market, such as BYD, Toyota, Nissan, Honda, Kia, and Hyundai, their active engagement in this segment creates a positive environment in the market. For instance, November 2022: Kia China announced that its EV6 compact battery electric SUV was on display at the CIIE and would be available in China in 2023. Kia will also launch 5 hybrid models in China in succession by 2026, beginning with the HEV model of the 5th generation Sportage compact SUV.

Hybrid Vehicle Industry Overview

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.

Hybrid Vehicle Market Leaders

  1. Toyota Motor Corporation

  2. Honda Motor Company Ltd

  3. BYD Co.Ltd

  4. Mercedes-Benz Group

  5. BMW AG

  6. *Disclaimer: Major Players sorted in no particular order
Hybrid Vehicle Market Concentration
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Hybrid Vehicle Market News

  • November 2022: Toyota South Africa Motors (TSAM) announced the importation of several RAV4 Plug-In Hybrid Vehicles (PHEV) to test customer response, vehicle behavior, infrastructure requirements, and other technical aspects, as well as educate customers on plug-in technology. It is also the second phase of TSAM's New Energy Vehicle (NEV) roll-out strategy, following the hybrid vehicle expansion strategy across Toyota's mainstream product lines.
  • November 2022, The Almaz Hybrid, previously displayed at the Indonesia Electric Motor Show (IEMS) 2022 event, was officially launched by Wuling Motors in Indonesia.
  • October 2022,: BYD announced that it had opened its first store in Brasilia, Brazil's capital, in collaboration with Saga Group, the country's largest dealer. In Brazil, BYD has introduced the Tang EV luxury battery-electric SUV, the Han EV battery-electric sedan, the D1, and the Song PLUS DM-i hybrid SUV, which will go on sale soon.
  • In October 2022, Korea Fuel-Tech Corporation invested USD 10 million in the construction of a new plant in Auburn, Alabama, the United States. The new plant will produce carbon canisters and hybrid vehicle fuel systems.

Hybrid Vehicle Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Drivers
    • 4.1.1 Fuel Economy Norms and Government Incentives
  • 4.2 Market Restraints
    • 4.2.1 Growing Demand For Battery Electric Vehicles
  • 4.3 Industry Attractiveness-Porter's Five Forces Analysis
    • 4.3.1 Bargaining Power of Suppliers
    • 4.3.2 Bargaining Power of Consumers
    • 4.3.3 Threat of New Entrants
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION (Market Size in USD)

  • 5.1 By Hybrid Vehicle Type
    • 5.1.1 Micro-hybrid
    • 5.1.2 Mild-hybrid
    • 5.1.3 Full-hybrid
    • 5.1.4 Plug-in Hybrid
  • 5.2 By Vehicle Type
    • 5.2.1 Passenger Cars
    • 5.2.2 Commercial Vehicles
  • 5.3 By Geography
    • 5.3.1 North America
    • 5.3.1.1 United states
    • 5.3.1.2 Canada
    • 5.3.1.3 Rest of North america
    • 5.3.2 Europe
    • 5.3.2.1 Germany
    • 5.3.2.2 United Kingdom
    • 5.3.2.3 France
    • 5.3.2.4 Italy
    • 5.3.2.5 Norway
    • 5.3.2.6 Netherlands
    • 5.3.2.7 Rest of Europe
    • 5.3.3 Asia-Pacific
    • 5.3.3.1 China
    • 5.3.3.2 India
    • 5.3.3.3 Japan
    • 5.3.3.4 South Korea
    • 5.3.3.5 Rest of Asia-Pacific
    • 5.3.4 Rest of the World
    • 5.3.4.1 South America
    • 5.3.4.2 Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share**
  • 6.2 Company Profiles*
    • 6.2.1 Toyota Motor Corporation
    • 6.2.2 Nissan Motor Co. Ltd
    • 6.2.3 Honda Motor company Ltd
    • 6.2.4 Hyundai Motor Company
    • 6.2.5 Kia Motors Corporation
    • 6.2.6 Volvo Group
    • 6.2.7 Volkswagen Group
    • 6.2.8 BMW AG
    • 6.2.9 Ford Motor Company
    • 6.2.10 Mercedes-Benz Group
    • 6.2.11 BYD Co. Ltd

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Technological Development In Hybrid Engine
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Hybrid Vehicle Industry Segmentation

Hybrid vehicles are powered by an internal combustion engine and an electric motor, which uses energy stored in batteries. The battery is charged through regenerative braking and by the internal combustion engine.

The hybrid vehicle market has been segmented by hybrid type, vehicle type, and geography. By hybrid type, the market is segmented into micro-hybrid, mild-hybrid, full-hybrid, and plug-in hybrid. By vehicle type, the market is segmented into passenger cars and commercial vehicles.

By geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the world.

The report offers market sizes and forecasts in value (in USD) for all the above segments.

By Hybrid Vehicle Type Micro-hybrid
Mild-hybrid
Full-hybrid
Plug-in Hybrid
By Vehicle Type Passenger Cars
Commercial Vehicles
By Geography North America United states
Canada
Rest of North america
Europe Germany
United Kingdom
France
Italy
Norway
Netherlands
Rest of Europe
Asia-Pacific China
India
Japan
South Korea
Rest of Asia-Pacific
Rest of the World South America
Middle-East and Africa
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Hybrid Vehicle Market Research FAQs

How big is the Hybrid Vehicle Market?

The Hybrid Vehicle Market size is expected to reach USD 261.51 billion in 2025 and grow at a CAGR of 12.83% to reach USD 478.19 billion by 2030.

What is the current Hybrid Vehicle Market size?

In 2025, the Hybrid Vehicle Market size is expected to reach USD 261.51 billion.

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.

Which is the fastest growing region in Hybrid Vehicle Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Hybrid Vehicle Market?

In 2025, the Asia-Pacific accounts for the largest market share in Hybrid Vehicle Market.

What years does this Hybrid Vehicle Market cover, and what was the market size in 2024?

In 2024, the Hybrid Vehicle Market size was estimated at USD 227.96 billion. The report covers the Hybrid Vehicle Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Hybrid Vehicle Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Hybrid Cars Industry Report

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The market caters to both large enterprises and small and medium-sized enterprises (SMEs), with large enterprises currently dominating due to their high volume of insurance policies and claims. Technological advancements, such as automation, artificial intelligence, and data analytics, are enhancing TPA services, creating numerous opportunities for TPA market size expansion. The adoption of advanced technologies and strategic partnerships are expected to drive the TPA market forward.

Statistics for the Insurance Third Party Administrators market share, size, and revenue growth rate, created by Mordor Intelligence™ Industry Reports, include a market forecast outlook and historical overview. Get a sample of this industry analysis as a free report PDF download.