Global Plug In Hybrid Electric Vehicle Market is valued at USD 103.01 Billion in 2021 and expected to reach USD 170.35 Billion by 2028 with a CAGR of 7.45% over the forecast period.
A Plug-in Hybrid Electric Vehicles include an electric motor and a rechargeable battery pack in addition to an internal combustion engine. PHEV is smart alternative for conventional gasoline vehicles. Concerns about the future prices of petroleum products have been accompanied by rising worries over both the impact of global warming due to carbon dioxide emissions and the nation’s energy independence. The key advantages of Plug-in Hybrid Electric Vehicle compared to conventional Diesel or Gasoline vehicles is that they create less impact on the environment, provide reliability and also they are cost effective. Plug-in Hybrid Electric Vehicles being less complex are much more beneficial to their Diesel or gasoline counterparts. Several countries promote Plug-in Hybrid Electric Vehicle.
The forecast period 2022-2028 is expected to show significant growth in Global Plug-in Hybrid Electric Vehicle market. There will be a new resurgence in the sales and utilization of Plug-in Hybrid Electric Vehicle. Are you ready to cope up with growing market. No, then have a look at our report overview and send your query to us.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 103.01 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||7.45%|
|Market Size Expected in 2028:||USD 170.35 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||BYD Auto Co. Ltd., Daimler AG, Honda Motor Co. Ltd., Hyundai Motor Company, Mitsubishi Motors Corporation, Toyota Motor Corporation, Volkswagen AG, Renault SA, Nissan Motor Corporation Limited|
|Segments Covered||By Vehicle Type, By Technology Type|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|