Hybrid Electric Vehicles Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029

Published on : Oct-2019 | List of Tables : 31 | List of Figures : 86 | No. of Pages : 170 | Report Code : FACT270MR | Format :

An Emission Free Globe to be the New Blueprint for Hybrid Electric Vehicles

The hybrid electric vehicles market is showcasing a stunning growth trajectory over the forecast period of 2019-2029 with a CAGR of ~ 14% by the end of the year 2029. This is fueled by the advent of electric vehicles and a global environment that is virtually emission free. For the moment electric vehicles are not only exorbitant but are still to spread their tentacles in developing nations for infrastructural capabilities.

On the positive side, electric vehicles come with a variety of benefits like reduced operational and maintenance costs and less pollution. With technological breakthroughs, the portfolio for electric vehicles is ever expanding with many consumers in different regions preferring to go in for fully hybrid or mild hybrid vehicles. Fact.MR brings out stunning clarity on incremental opportunities in the hybrid electric vehicle market in various regions in the figure below

hybrid electric vehicles market incremental opportunity assessment

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Algorithmic Trends to Step Up Fuel Efficiency in Hybrid Electric Vehicles

Newer and smarter algorithms are all set to revolutionize the fuel efficiency of hybrid electric vehicles.  Owing to these trends, the hybrid electric vehicles captured a large market share of ~ US$ 29Bn in the year 2019.

  • Hybrid electric vehicles are largely dependent on an energy management system that helps them to maintain an equilibrium between the electric motor and the internal combustion engine. This helps to regulate fuel consumption and CO2 emissions.
  • Many new universities are now pioneering algorithms to help do that. For instance, technical teams at several universities are developing highly nuanced algorithms that can calculate the energy consumption of a hybrid vehicle in a very optimal manner.
  • This would help to enhance the fuel efficiency by at least 50% thus bolstering the demand for hybrid electric vehicles during the forecast period. Since these algorithms have been found to be highly complex, future research will focus on the reducing the computational effort of these algorithms. This will improve drivability.

Hybrid Powertrain Innovations to Spearhead Green Electrical Energy

Europe will continue to be one of the frontrunners, capturing a significant market share of ~ 16% by the end of the forecast period. Many countries in Europe have affiliated themselves with a project known as ECOCHAMPS which entails the development of hybrid vehicles that have powertrains. These are specially designed to reduce weight and volume of the vehicle and enhance efficiency.  As a result, the parallel hybrid powertrains will continue to see profitable growth over the forecast period.

  • The ECOCHAMPS project was created to improve powertrain efficiency by 20% or more, thereby reducing the cost of the hybrid vehicles.
  • The new and improved hybrid powertrains under the ECOCHAMPS project will have zero emissions capability especially in urban areas and will have access to locally produced green electrical energy.
  • The vehicles developed under this project will have a few commonalities namely – a highly efficient combustion engine, the right sized batteries and e-motor.
  • This would drastically improve the air quality of the environment and enable users to incur considerable cost savings.
  • With improved functionalities, they will give a lot of flexibility to users and serve as a stepping stone in the introduction of hybrid electric vehicles in the global market space.
hybrid electric vehicles market analysis by powertrain

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Plug-In Hybrid Cars to Undergo a Resurrection in the Hybrid Electric Vehicles Market

  • The most important difference between a fully electric vehicle and a plug-in hybrid vehicle is that the plug-in hybrid has a gasoline fueled combustion engine. It also has a small battery that allows the car to be driven for an additional 300 to 500 miles as compared to a fully electric vehicle that has a maximum range of 150-300 miles.
  • With electric vehicles poised to fulfill the dream of a carbon-free Europe, the market reported a figure of roughly 66% for the sales of electric vehicles vis-à-vis the sales of plug-in hybrids which saw a drop.
  • This has spurred manufacturers to innovate and present them to the customer as a unique, transformational technology. This will motivate the average consumer to utilize them as enablers unlike traditional gasoline and diesel engines.
  • Plug-in hybrids are infinitely more flexible as they mitigate many of the niggling concerns surrounding the charging of fully electric vehicles. The market for plug-in hybrids is witnessing a massive momentum as more and more urban dwellers are now moving onto apartment dwellings.
  • These cars will also be more attractive and compelling for those who travel great distances and have highly unpredictable usage patterns. For example, shared mobility and rental fleets. Since they have batteries that are smaller and more modestly sized, they will be marginally less exorbitant than a fully electric vehicle. Moreover, they have weight reduction capabilities especially when they are used in bigger cars like SUVs and minivans.
  • While electric vehicles may be considered the ‘Holy Grail’ of the automotive arena, regulatory policy that encourages the use of Plug-in hybrid electric car might just be the need of the hour. Incentives based on the range of the plug-in hybrid and easy access to charging infrastructure will be some of the ways manufacturers can boost the sales of the, plug-in hybrid vehicles

Hybrid Electric Vehicle Manufacturers to Get a Jump Start with Innovative Technology in Fluids

Key market players are rushing to reach the finish line by innovating a broad line of fluids and lubricants for the electric and hybrid electric fleet of cars. For instance, Total is massively consolidating its position by introducing a range of fluids that are specially designed for electric and hybrid vehicles. Total’s research and development teams are all geared up to meet the cooling and lubrication needs of these modern and differently abled engines. This is done to ensure that they maintain their peak condition throughout the engine’s lifecycle. Their new product line consists of an eclectic mix such as Total Quartz EV fluid and Total Rubia EV fluid for a wide range of hybrid and electric vehicles.

These dynamic fluids help to fulfill myriad applications such as boosting dielectric properties of the engine, compatibility with new electric components, lubrication for transmission and a solution for temperature constraints. These enhanced lubricant solutions for hybrid and electric vehicles will create incremental opportunities for the key stakeholders in the hybrid electric vehicles market space.

Refillable Batteries to Offset Car Range Anxiety

Refillable batteries are all set to promulgate an era of enhanced mobility. Hybrid electric vehicles induce considerable anxiety amongst motorists due to the limited availability of charging stations and range limitations. This can now be offset with scientists working on refillable or flow batteries that can be refueled in minutes at any gas station.

Flow batteries, experts opine, will transform electric vehicles and obviate range anxiety. Most gas stations under this new technology will be retrofitted to pump in battery liquid for the refillable battery instead of gasolines. These flow batteries will work on the premise of a reaction between the ends of the battery and the electrolyte. Scientists are also harnessing a way by which the electrolyte can be recycled. While this technology will revolutionize the growth of the hybrid electric vehicles market, the high cost and battery reliability will be some of the obstacles to overcome.

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Hybrid Electric Vehicles Market - Scope of the Report

Fact.MR recently published a market study on the global market for hybrid electric vehicles. The study provides detailed assessment on key market dynamics, including drivers, trends, opportunities restraints, and detailed information about the hybrid electric vehicles market structure. The market study presents exclusive information about how the market will grow during the forecast period of 2019-2029.

Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and Compounded Annual Growth Rate (CAGR) are explained in the Fact.MR study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the hybrid electric vehicles market during the forecast period.

The study is relevant for stakeholders in the hybrid electric vehicles market, including manufacturers and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the hybrid electric vehicles market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in Fact.MR study.

The study also includes statistics as well as facts related to the macro as well as microeconomic factors that are impacting developments in the hybrid electric vehicles market. It also offers actionable insights based on future trends in the hybrid electric vehicles market. Moreover, small businesses and new entrants in the market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.

Key Segments of the Hybrid Electric Vehicles Market

Fact.MR’s study on the hybrid electric vehicles market offers information classified into four important segments: power source, powertrain, vehicle, and region. This market report proposes comprehensive data and information about the important market changing aspects and evolution structures related with these categories.

Power Source

Powertrain

Vehicle

Region

Stored Electricity

Series Hybrid

Passenger Cars

North America

On Board Electric Generator

Parallel Hybrid

Commercial Vehicles

Latin America

 

Combined Hybrid

Two Wheelers

Europe

 

 

Others (Golf Cart etc.)

Japan

 

 

 

APEJ

 

 

 

MEA

Key Questions Answered in Fact.MR Hybrid Electric Vehicles Market Report

  • Which regions will continue to remain the most profitable regional markets for hybrid electric vehicles market players?
  • Which factors will induce a change in the demand for hybrid electric vehicles during the assessment period?
  • How will changing trends impact the hybrid electric vehicles market?
  • How can market players capture the low-hanging opportunities in the hybrid electric vehicles market in developed regions?
  • Which companies are leading the hybrid electric vehicles market?
  • What are the winning strategies of stakeholders in the hybrid electric vehicles market to upscale their position in this landscape?
  • Which vehicle type will hold the largest value share in the hybrid electric vehicles market?

Hybrid Electric Vehicles Market: Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the hybrid electric vehicles market, and reach conclusions on the foreseeable growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of conclusions.

Secondary resources referred to analysts in the hybrid electric vehicles market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary resources and secondary resources act as a validation from companies in the hybrid electric vehicles market, and makes Fact.MR’s projection on growth prospects of the hybrid electric vehicle’s market more accurate and reliable.

1. Global Hybrid Electric Vehicles Market - Executive Summary

    1.1. Global Market Overview

    1.2. Global Hybrid Electric Vehicles Market – Regional Overview

    1.3. Global Hybrid Electric Vehicles Market – Opportunity Assessment

    1.4. Mega Trends in Hybrid Electric Vehicles Market

    1.5. Fact.MR Analysis

2. Global Hybrid Electric Vehicles Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Introduction and Definition

3. Market Background

    3.1. Macro - Economic Factors

    3.2. Global GDP Growth Outlook

    3.3. Global Automotive Industry Outlook

    3.4. Global Electric Vehicles Industry Scenario

    3.5. Global Automotive Production Share by Manufacturers 

    3.6. Supply Chain Analysis

    3.7. Forecast Factors: Relevance and Impact

    3.8. Market Dynamics

        3.8.1. Drivers

        3.8.2. Restraints

        3.8.3. Opportunity Analysis

4. Global Hybrid Electric Vehicles Market – Price Point Analysis

    4.1. Price Point Assessment by Region and Power Source

    4.2. Price Forecast till 2029

5. Global Hybrid Electric Vehicles Market Demand (US$ Mn) Analysis 2014-2018 and Forecast, 2019-2029

    5.1. Historical Market Value (US$ Mn) Analysis, 2014-2018

    5.2. Current and Future Market Value (US$ Mn) Projections, 2019-2029

        5.2.1. Y-o-Y Growth Trend Analysis

        5.2.2. Absolute $ Opportunity Analysis

6. Global Hybrid Electric Vehicles Market Analysis 2014-2018 and Forecast 2019-2029, By Power Source

    6.1. Introduction / Key Findings

    6.2. Historical Market Size (US$ Mn) Analysis By Power Source, 2014 - 2018

    6.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Power Source, 2019 - 2029

        6.3.1. Stored Electricity

        6.3.2. On Board Electric Generator

    6.4. Market Attractiveness Analysis By Power Source

7. Global Hybrid Electric Vehicles Market Analysis 2014-2018 and Forecast 2019-2029, by Powertrain

    7.1. Historical Market Size (US$ Mn) Analysis By Powertrain, 2014 - 2018

    7.2. Current and Future Market Size (US$ Mn) Analysis and Forecast By Powertrain, 2019 - 2029

        7.2.1. Series Hybrid

        7.2.2. Parallel Hybrid

        7.2.3. Combined Hybrid 

    7.3. Market Attractiveness Analysis By Powertrain

8. Global Hybrid Electric Vehicles Market Analysis 2014-2018 and Forecast 2019-2029, by Vehicle Type

    8.1. Historical Market Size (US$ Mn) Analysis By Vehicle Type, 2014 - 2018

    8.2. Current and Future Market Size (US$ Mn) Analysis and Forecast By Vehicle Type, 2019 - 2029

        8.2.1. Passenger Cars

        8.2.2. Commercial Vehicles

        8.2.3. Two Wheelers

        8.2.4. Others (Golf Cart etc.)

    8.3. Market Attractiveness Analysis By Vehicle Type

9. Global Hybrid Electric Vehicles Market Analysis 2014-2018 and Forecast 2019-2029, by Region

    9.1. Historical Market Size (US$ Mn) Analysis By Region, 2014 - 2018

    9.2. Current Market Size (US$ Mn) Analysis and Forecast By Region, 2019 - 2029

        9.2.1. North America

        9.2.2. Latin America

        9.2.3. Europe

        9.2.4. Japan

        9.2.5. APEJ

        9.2.6. Middle East and Africa (MEA)

    9.3. Market Attractiveness Analysis By Region

10. North America Hybrid Electric Vehicles Market Analysis 2014-2018 and Forecast 2019-2029

    10.1. Introduction

    10.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018

    10.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029

        10.3.1. By Country

            10.3.1.1. U.S.

            10.3.1.2. Canada

        10.3.2. By Power Source

        10.3.3. By Powertrain

        10.3.4. By Vehicle Type

    10.4. Market Attractiveness Analysis

        10.4.1. By Country

        10.4.2. By Power Source

        10.4.3. By Powertrain

        10.4.4. By Vehicle Type

11. Latin America Hybrid Electric Vehicles Market Analysis 2014-2018 and Forecast 2019-2029

    11.1. Introduction

    11.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018

    11.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029

        11.3.1. By Country

            11.3.1.1. Brazil

            11.3.1.2. Mexico

            11.3.1.3. Argentina

        11.3.2. By Power Source

        11.3.3. By Powertrain

        11.3.4. By Vehicle Type

    11.4. Market Attractiveness Analysis

        11.4.1. By Country

        11.4.2. By Power Source

        11.4.3. By Powertrain

        11.4.4. By Vehicle Type

12. Europe Hybrid Electric Vehicles Market Analysis 2014-2018 and Forecast 2019-2029

    12.1. Introduction

    12.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018

    12.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029

        12.3.1. By Country

            12.3.1.1. Germany

            12.3.1.2. UK

            12.3.1.3. Spain

            12.3.1.4. France

            12.3.1.5. Italy

            12.3.1.6. Rest of Europe

        12.3.2. By Power Source

        12.3.3. By Powertrain

        12.3.4. By Vehicle Type

    12.4. Market Attractiveness Analysis

        12.4.1. By Country

        12.4.2. By Power Source

        12.4.3. By Powertrain

        12.4.4. By Vehicle Type

13. Japan Hybrid Electric Vehicles Market Analysis 2014-2018 and Forecast 2019-2029

    13.1. Introduction

    13.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018

    13.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029

        13.3.1. By Power Source

        13.3.2. By Powertrain

        13.3.3. By Vehicle Type

    13.4. Market Attractiveness Analysis

        13.4.1. By Power Source

        13.4.2. By Powertrain

        13.4.3. By Vehicle Type

14. APEJ Hybrid Electric Vehicles Market Analysis 2014-2018 and Forecast 2019-2029

    14.1. Introduction

    14.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018

    14.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029

        14.3.1. By Country

            14.3.1.1. China

            14.3.1.2. India

            14.3.1.3. Australia

            14.3.1.4. Thailand

            14.3.1.5. Singapore

            14.3.1.6. Malaysia

        14.3.2. By Power Source

        14.3.3. By Powertrain

        14.3.4. By Vehicle Type

    14.4. Market Attractiveness Analysis

        14.4.1. By Country

        14.4.2. By Power Source

        14.4.3. By Powertrain

        14.4.4. By Vehicle Type

15. Middle East and Africa Hybrid Electric Vehicles Market Analysis 2014-2018 and Forecast 2019-2029

    15.1. Introduction

    15.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018

    15.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029

        15.3.1. By Country

            15.3.1.1. GCC Countries

            15.3.1.2. South Africa

            15.3.1.3. Nigeria

            15.3.1.4. Israel

        15.3.2. By Power Source

        15.3.3. By Powertrain

        15.3.4. By Vehicle Type

    15.4. Market Attractiveness Analysis

        15.4.1. By Country

        15.4.2. By Power Source

        15.4.3. By Powertrain

        15.4.4. By Vehicle Type

16. Market Structure Analysis

    16.1. Global Hybrid Electric Vehicles Market - A Dashboard View

    16.2. Global Hybrid Electric Vehicles - Industry Structure

    16.3. Global Hybrid Electric Vehicles Market Company Share Analysis

17. Company Profiles

    17.1. Nissan Motor Corporation Ltd.

        17.1.1. Company Overview

        17.1.2. Product overview

        17.1.3. SWOT Analysis

        17.1.4. Key Developments

    17.2. Bayerische Motoren Werke AG

        17.2.1. Company Overview

        17.2.2. Product overview

        17.2.3. SWOT Analysis

        17.2.4. Key Developments

    17.3. Honda Motor Co., Ltd.

        17.3.1. Company Overview

        17.3.2. Product overview

        17.3.3. SWOT Analysis

        17.3.4. Key Developments

    17.4. Mitsubishi Motors Corporation

        17.4.1. Company Overview

        17.4.2. Product overview

        17.4.3. SWOT Analysis

        17.4.4. Key Developments

    17.5. Toyota Motor Corporation

        17.5.1. Company Overview

        17.5.2. Product overview

        17.5.3. SWOT Analysis

        17.5.4. Key Developments

    17.6. Volkswagen AG

        17.6.1. Company Overview

        17.6.2. Product overview

        17.6.3. SWOT Analysis

        17.6.4. Key Developments

    17.7. Groupe Renault

        17.7.1. Company Overview

        17.7.2. Product overview

        17.7.3. SWOT Analysis

        17.7.4. Key Developments

    17.8. Ford Motor Company

        17.8.1. Company Overview

        17.8.2. Product overview

        17.8.3. SWOT Analysis

        17.8.4. Key Developments

    17.9. Daimler AG

        17.9.1. Company Overview

        17.9.2. Product overview

        17.9.3. SWOT Analysis

        17.9.4. Key Developments

    17.10. General Motors Company

        17.10.1. Company Overview

        17.10.2. Product overview

        17.10.3. SWOT Analysis

        17.10.4. Key Developments

18. Research Methodology

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Hybrid Electric Vehicles Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029