Plug In Hybrid Electric Vehicle Market

Plug In Hybrid Electric Vehicle Market Size, Share & Trends Analysis Report

Plug In Hybrid Electric Vehicle Market By Vehicle Type (Passenger Car And Light Commercial Vehicle), By Technology (Series, Parallel And Series-Parallel), Industry Analysis, Trends, And Forecast 2022-2028

Report ID : BMRC 133
Number of pages : 300
Published Date : May 2023
Category : Automotive And Transport
Delivery Timeline : 48 hrs

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.

Scope of the Market

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.

Plug-in Hybrid Electric Vehicle Market Report covers Top Key Players

  • 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
  • Ford Motor Company
  • BMW AG
  • Mercedes-Benz Group AG
  • Tesla Motors Inc.
  • Others

Plug-in Hybrid Electric Vehicle Segmentations

By Vehicle Type

  • Passenger car
  • Light commercial vehicle

By Technology Type

  • Series
  • Parallel
  • Series-parallel

By Region

North America

  • U. S
  • Canada


  • U. K.
  • France
  • Germany
  • Italy

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia

Latin America

  • Brazil
  • Mexico

Middle East and Africa

  • GCC
  • Africa
  • Rest of Middle East and Africa
Report Analysis Details
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
Pages 300
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