Hybrid Vehicle Strategies: OEM Portfolio Outlook & Market Forecast to 2030

The hybrid market is projected to grow from 12.4 million units in 2024 to 28.5 million units by 2030 at a CAGR of 13.0%. The major drivers of the market are stringent emission norms set by the governments, an increase in the adoption of sustainable vehicles, and superior efficiency without range anxiety or charging or battery discharge. By region, Europe and China are projected to lead the hybrid market during the forecast period. On the other hand, North America and Asia (excluding China) are witnessing significant demand for hybrid vehicles.

"SUVs will account for the largest share of hybrids in 2030."

SUVs have gained popularity in the past few years. Considering all the powertrains, SUVs hold over half of the total sales globally. Similarly, over half of the hybrid (HEV+PHEV) sales are in the SUV segment. This segment has rapidly gained popularity among consumers owing to its road presence, longer range in the case of hybrids, and advanced safety and comfort features. Consumers prefer compact and mid-size hybrid SUVs over sedans and hatchbacks because of their longer range and cargo space.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=210026714

"PHEV propulsion type to register the fastest growth during the forecast period in the hybrid market."

The PHEV category registered the fastest growth at a CAGR of 14.4% during the 2025 to 2030 period. On the contrary, PHEVs will decline after 2030, as BEVs will gain more adoption. PHEVs are equipped with ICE and EV driving technology and have an extensive driving range. Moreover, the vehicle can be refueled easily, whereas the battery can also be charged similarly to a BEV at any charging point. Several new PHEVs will be launched by 2030 by major OEMs worldwide. Therefore, the hybrid market will see growth till 2030.

Europe is estimated to be the largest hybrid market.

Europe is expected to be the largest market for hybrid passenger vehicles in the coming years. The European Union has set stringent rules to achieve zero emissions targets. One of the important targets is that new cars will have to reduce CO2 emissions by 55% for passenger vehicles. Hybrids fit perfectly in the scenario as they have lower emissions than ICE vehicles. This will boost the sales of hybrids (HEV & PHEV) in the European market. HEVs help reduce emissions during the start & stop function and operate on a battery when initial driving torque is required. The HEV operation is similar to ICE, with small upgrades in the engine and start & stop mechanism. The HEV propulsion also enhances the driving range of the vehicle.

Key Players:

Toyota (Japan), BYD (China), Renault-Nissan-Mitsubishi (France), Hyundai Group (South Korea), Honda (Japan), Stellantis (Netherlands), Suzuki (Japan), Volkswagen (Germany), Geely Group (China), Mercedes-Benz (Germany), Great Wall Motors [GWM] (China), Li Auto (China), BMW Group (Germany), Ford Motors (US).

Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=210026714

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.

Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.

The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter , LinkedIn and Facebook .

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com

Comments

Post a Comment

Popular posts from this blog

Automotive Actuators Market to Surpass $29.3 Billion by 2030

The Automotive Actuators Market is projected to grow from an estimated USD 20.9 billion in 2023 to reach USD 29.3 billion by 2030 at a CAGR of 4.9% during the forecast period. Automakers are highly focused on developing new and improved components to increase the fuel efficiency of vehicles owing to growing concerns over environmental changes. Automotive actuators play a significant role in reducing emissions and enhancing vehicle efficiency. Electric actuators, also known as smart actuators, replace hydraulic and pneumatic actuators due to their several benefits, like compact and lightweight design, more energy efficient, and less expensive, making it ideal for various applications. Smart actuators can perform diagnostics and include learning capabilities and memory functions. Electric actuators are typically installed in engines that open and close different valves, which is also anticipated to fuel the overall market growth. “Electric Actuators will be the dominating actuation...
Read more

Charging as a Service Market Size, Share, and Growth Forecast Through 2035

   The global charging as a service market is projected to grow from USD 165.9 million in 2025 to USD 2,135.0 million by 2035, registering a CAGR of 29.1%. Charging as a Service is a business model that allows fleet operators to use EV charging infrastructure without owning or managing charging stations. A third party owns and operates the charging infrastructure, while fleets pay per usage through pay-as-you-go or subscription/contract models. A seamless charging experience encourages repeat visits, fostering customer loyalty. Companies can monetize charging services through direct fees or indirect sales growth while customers wait. For instance, airports and aviation hubs can integrate charging solutions to support sustainable travel and cater to electric fleet operators. Auto-dealerships and OEM operated charging spaces to hold the significant share in semi-public charging setup segment. OEM partnerships with Charge Point Operators (CPOs) and EV charging strategies f...
Read more

Battery Sensor Market Projected to reach $4.92 billion by 2025

  The report  “ Battery Sensor Market  by Voltage Type (12V, 24V, and 48V), Communication Technology (LIN and CAN), Hybrid Vehicle (HEV and PHEV), Vehicle Type (Passenger Car, LCV and HCV), and Region – Global Forecast to 2025″ , The automotive battery sensor market is estimated to be USD 2.35 billion in 2018 and is projected to reach a market size of USD 4.92 billion by 2025, growing at a CAGR of 11.09% during the forecast period. The market is driven by factors such as the rising demand for fuel-efficient vehicles, increasing vehicle production, rising emission concerns, and growing demand for high- end cars. The 12V segment is estimated to be the fastest growing in the Battery Sensor Market   during the forecast period The increasing demand for fuel-efficient vehicles has led to the introduction of IBS for 12V lead-acid batteries. IBS helps to curb CO2 emissions and increases the fuel efficiency of a vehicle. It also helps to optimize the electrical power system a...
Read more