Hybrid Vehicles Market is Forecast to Reach a Valuation of US$ 1,362.3 Bn by the end of 2032 | Future Market Insights, Inc.

September 23, 2022

As per FMI, the U.S. hybrid vehicles market is expected to surpass revenues worth US$ 36.5 Bn by the end of 2022. The hybrid vehicles market in Japan is anticipated to be valued at about US$ 8,633.9 Mn in 2022. Japanese consumers believe hybrid vehicles to be dependable, safe, and simple to use

/EIN News/ -- NEWARK, Del, Sept. 23, 2022 (GLOBE NEWSWIRE) -- The global hybrid vehicles market is expected to create a lucrative growth opportunity over the estimation period from 2022 to 2032 by registering a CAGR of 21.6%. The market is anticipated to be valued at US$ 192.7 Bn in 2022 and is expected to reach a valuation of US$ 1,362.3 Bn by 2032.

According to the historical analysis ranging from 2015 to 2021, the hybrid vehicles market exhibited growth at a robust CAGR of 11.4% and is projected to accelerate during the current estimation period at a phenomenal CAGR of 21.6% throughout the forecast period. This surging year-on-year growth in 2022 is expected to bolster even further as governments from all over the world are rapidly taking initiatives to reduce carbon footprints in the transportation sector.

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The widespread adoption of luxury vehicles combined with the enforcement of severe emission-related regulations and high demand for electric vehicles are all contributing to the expansion of the hybrid vehicles market. The hybrid vehicle market is predicted to hold around 25% to 30% of the global electric vehicles market. The growing trend of plug-in hybrid vehicles is expected to push sales in the global hybrid vehicles market in the next decade.

Key Takeaways

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Competitive Landscape

Over the last few years, there has been a surging number of acquisitions and growth strategies in order to increase the development & production of hybrid vehicles. Several major firms are meticulously working on innovations and new technological developments. Some of the growth strategies used by key firms include contracts & agreements, new product developments, and partnerships to strengthen their market positions.

Key Companies Profiled:

More Insights into the Hybrid Vehicles Market

The U.S. is expected to dominate the automotive market and incorporates high penetration of technologically advanced and high-cost products. The U.S. government is supporting growth in the hybrid vehicles market by investing in the construction sector since the adoption of electric vehicles increases the demand for charging infrastructure in a variety of settings, including homes, workplaces, and public places. As per FMI, the U.S. hybrid vehicles market is expected to surpass revenues worth US$ 36.5 Bn by the end of 2022.

The hybrid vehicle market in Japan is expected to be valued at about US$ 8,633.9 Mn in 2022. As per Japanese consumers, hybrid vehicles are known to be dependable, safe, and simple to use. They are also willing to pay a premium price as they believe these vehicles offer good value.

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Key Segments Covered in Hybrid Vehicles Market Analysis

By Product Type:

By Vehicle Type:

By Engine Type:

By Powertrain Configuration:

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand Side Trends

    1.3. Supply Side Trends

    1.4. Material Roadmap

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Key Market Trends

    3.1. Key Trends Impacting the Market

    3.2. Product Innovation / Development Trends

TOC continued..!

About FMI – Automotive and Transportation

The Automotive and Transportation division of FMI provides exclusive coverage and actionable insights about automotive and transportation industry encompassing automotive, aviation, shipping and marine, and railway sectors. Market findings and competition intelligence of OEM, aftermarket, services and technology landscape have helped numerous industry stakeholders’ right from automakers, component manufacturers, channel partners and service providers in taking informed decisions and keeping them up-to-date with market behaviour.

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CNG and LPG Vehicles Market Outlook: The CNG and LPG vehicles market is projected to have a slow-paced CAGR of 4.5% during the forecast period. The current valuation of the CNG and LPG vehicles market is US$ 5243.3 million in 2022.

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