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Hybrid Vehicle Market Growth, Share, Trend, Size Analysis by 2027

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Hybrid Vehicle Market Growth Highlights:

Hybrid vehicle market is expected to rise at a 9% CAGR during the forecast period.

This study provides an overview of the Global Hybrid Vehicle Market share, tracking four market segments across four geographic regions. The report studies key players, including a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Hybrid Vehicle market by its Electric Powertrain, Propulsion, Component Type, Degree of Hybridization, Vehicle Type and Region.

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Key Players

The key players in hybrid vehicle market are Toyota Motor Corporation (Japan), The Ford Motor Company (U.S.), AB Volvo (Sweden), Continental AG (Germany) and ZF Friedrichshafen AG (Germany). Daimler AG (Germany), Hyundai Motor Company (South Korea), Honda Motor Company, Ltd. (Japan), Schaeffler Technologies AG & Co. KG (Germany), BorgWarner Inc. (U.S.), Delphi Technologies, Inc. (U.K.) and Allison Transmission (U.S.) are amongst the other important players in this market.

The conventional internal combustion engine powered vehicles are the most popular types of automobiles on the basis of fuel type. These automobiles have the highest power-to-weight ratio compared to automobiles plying on other fuel types such as battery-powered vehicles, electric vehicles, and compressed natural gas-powered vehicles. These vehicles have an extremely smooth drive provided from the high-powered engine right up to the wheels. The biggest drawback of the internal combustion engine powered automobiles is the large-scale pollution due to the waste gases emitted from them. To tackle the growing problem of pollution, different automotive societies and governments from around the world have laid down strict guidelines regarding the emission norms. Hybrid vehicles, thus, provide the perfect balance between the high power, high engine efficiency, high fuel efficiency, and low carbon footprint of that individual automobile.

On the basis of degree of hybridization, hybrid vehicles are categorized into micro hybrid, mild hybrid and full hybrid. The full hybrid variety is the most popular and registers the highest sales compared to the other hybrid varieties. The full hybrid vehicles are built on the principle of pure electric vehicle functionality. The full hybrid vehicle is installed with a larger electric motor and a battery system to drive the automobile in the EV mode for a sustained period, thus aiding improved fuel efficiency. The full hybrid vehicle, thus, provides the highest efficiency, of all hybrid vehicles. The battery in this case operates in the depleting charge zone and when the battery gets sufficiently discharged, it starts to function in the reserve mode. The mild hybrid variety is built to only support and sustain the regenerative braking and the drive assist mode. The battery size, in this case, is much less than the full hybrid vehicle, and thus, the mild hybrid is only operated in the charge reserve mode. In case of micro-hybrid vehicles, the battery size is the lowest of all the three types, and only functions in the vehicle start and stop function. The smaller battery size is compensated by the regenerative braking, which helps in quick recharge of the battery when the charge reaches below a critical level. Additionally, the battery in micro-hybrid vehicles also provides essential charge and power supply to the climate control circuits in the vehicle.

On the basis of the component type, the hybrid vehicles consist of a battery pack, a transmission line and an electric motor. The hybrid vehicles use the fossil fuel like petrol or diesel to power the electric generator. The generator provides input drive to the electric motor. The output from the electric motor is the drive provided to the wheels. The automobile transmission system, also called the drive system, is responsible for providing the essential drive to the wheels. The smoothness of the entire system decides the efficiency of the hybrid vehicle.

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By Electric Powertrain
 Parallel Hybrid

Series Hybrid

By Propulsion
Hybrid Electric Vehicle (HEV)

Plug-in Hybrid Electric Vehicle (PHEV)

Natural Gas Vehicle (NGV)

By Component Type
 Electric Motor



By Degree of Hybridization
Micro Hybrid

Mild Hybrid

Full Hybrid Vehicle

By Vehicle Type
Passenger Car

Commercial Vehicle

By Region
 North America


Asia Pacific

Rest of the World

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About Market Research Future:

Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

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