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Plug-in Hybrid Electric Vehicles Market By Power Source (Stored Electricity, On-Board Electric Generator); By Powertrain (Series Hybrid, Parallel Hybrid, Combined Hybrid) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Name: Plug-in Hybrid Electric Vehicles Market - Demand, Size and Competitive Analysis
Creator: Credence Research Inc.
Published: 2025-11-05
License: https://www.credenceresearch.com/info/privacy-policy
Keywords: Plug-in Hybrid Electric Vehicles Market

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Market Overview

The Plug-in Hybrid Electric Vehicles Market size was valued at USD 28,500.00 million in 2018, increasing to USD 42,201.60 million in 2024, and is anticipated to reach USD 110,202.97 million by 2032, registering a CAGR of 12.81% during the forecast period.

REPORT ATTRIBUTE	DETAILS
Historical Period	2020-2023
Base Year	2024
Forecast Period	2025-2032
Plug-in Hybrid Electric Vehicles Market Size 2024	USD 42,201.60 million
Plug-in Hybrid Electric Vehicles Market, CAGR	12.81%
Plug-in Hybrid Electric Vehicles Market Size 2032	USD 110,202.97 million

The Plug-in Hybrid Electric Vehicles (PHEV) market is led by prominent automakers such as Toyota Motor Corporation, BMW Group, Ford Motor Company, Nissan Motor Co., Ltd., Mercedes-Benz Group AG, Volkswagen AG, Honda Motor Co., Ltd., Renault Group, and General Motors. These players dominate through continuous innovation in hybrid powertrains, expansion of electric vehicle portfolios, and strategic collaborations with battery and technology providers. Toyota and BMW hold strong positions with advanced hybrid architectures and wide model availability, while Volkswagen and Ford are rapidly scaling production to meet growing global demand. Regionally, Asia Pacific leads the PHEV market with over 42% market share in 2024, driven by strong adoption in China, Japan, and South Korea, supported by government incentives, robust charging infrastructure, and expanding consumer preference for sustainable mobility solutions.

Plug-in Hybrid Electric Vehicles Market size

Market Insights

The Plug-in Hybrid Electric Vehicles Market was valued at USD 42,201.60 million in 2024 and is projected to reach USD 110,202.97 million by 2032, growing at a CAGR of 12.81% during the forecast period.
Market growth is primarily driven by rising demand for low-emission and fuel-efficient vehicles, supported by advancements in battery technology and strong government incentives promoting hybrid adoption.
The market is witnessing trends such as the integration of smart charging infrastructure, expansion of hybrid SUV and crossover models, and technological convergence with connected vehicle systems.
Key players including Toyota, BMW, Ford, Volkswagen, and Nissan are focusing on hybrid powertrain innovation, partnerships, and cost optimization to strengthen market presence and meet emission targets.
North America leads with 32% of the global market share, followed by Asia Pacific, while the stored electricity segment dominates with 71% of total revenue, supported by rapid charging network expansion.

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Market Segmentation Analysis:

By Power Source

The stored electricity segment dominates the Plug-in Hybrid Electric Vehicles (PHEV) market, accounting for 71% of the total revenue share. Its leadership is supported by the rapid expansion of charging infrastructure, falling lithium-ion battery costs, and stringent emission norms driving the adoption of cleaner power solutions. Consumers increasingly prefer battery-based PHEVs for their extended electric-only range and lower operating costs. Conversely, the on-board electric generator segment holds a smaller market share, catering mainly to regions with limited charging infrastructure. Its appeal lies in enhanced range assurance and hybrid flexibility, though dependency on liquid fuels and higher system complexity limit its overall growth potential.

For instance, India’s public EV charging stations have grown fivefold from FY22 to early FY25, reaching over 26,000 stations, significantly supporting battery-based PHEV adoption.

By Powertrain

The parallel hybrid sub-segment leads the powertrain market, representing 82% of the overall segment share. This dominance is attributed to its efficient design that allows both the internal combustion engine and electric motor to power the wheels directly, providing higher fuel efficiency and seamless performance for SUVs and sedans. The series hybrid configuration, holding a moderate share, is valued for its smooth electric driving experience but limited by inefficiency at higher speeds. Meanwhile, the combined hybrid system is gaining traction with an estimated 48% share in advanced models, offering optimized energy use and superior performance despite its higher cost and engineering complexity.

For instance, Toyota’s Hybrid Synergy Drive system used in the Prius and Camry Hybrid exemplifies this, delivering seamless power integration and improved fuel economy.

Key Growth Drivers

Advancements in Battery Technology

Ongoing advancements in lithium-ion and solid-state battery technologies are significantly driving the Plug-in Hybrid Electric Vehicles (PHEV) market. These innovations enhance energy density, reduce charging time, and extend vehicle range, making PHEVs more practical for daily commuting. Falling battery costs are also lowering vehicle prices, making hybrids more accessible to mass consumers. Automakers are investing heavily in next-generation batteries that offer better efficiency and durability, thereby improving overall performance and reducing lifecycle emissions—factors crucial to accelerating the global adoption of PHEVs.

For instance, Mercedes-Benz has partnered with Factorial Energy to develop Solstice solid-state batteries that promise to extend EV ranges to over 600 miles with higher safety and energy density, significantly enhancing PHEV practicality.

Government Incentives and Emission Regulations

Stringent emission standards and supportive government policies are major growth catalysts for the PHEV market. Tax benefits, purchase subsidies, and registration fee reductions are encouraging consumers to switch from internal combustion vehicles to hybrids. Regulatory bodies in regions such as the European Union, China, and North America are mandating lower carbon emissions and promoting hybrid technologies as a transitional solution toward full electrification. This policy-driven push is compelling automakers to expand PHEV portfolios and invest in cleaner mobility innovations.

For instance, in Spain, private buyers of PHEVs with a gross list price below €45,000 can claim a personal income tax deduction of 15% of the acquisition cost, up to a maximum of €3,000, as part of the 2025 incentive scheme.

Rising Consumer Demand for Fuel Efficiency

Growing consumer awareness regarding environmental sustainability and fuel efficiency is a primary driver of the PHEV market. Consumers are increasingly drawn to hybrid models for their ability to deliver both electric-only operation and extended range without compromising performance. Rising fuel prices further strengthen the case for PHEVs, especially in urban areas where short-distance electric driving reduces costs and emissions. Automakers are responding with advanced powertrain designs and competitive pricing strategies to meet this shifting demand toward greener, cost-effective mobility solutions.

Key Trends and Opportunities

Integration of Smart Charging Infrastructure

The integration of smart charging solutions and grid-connected technologies presents a transformative trend in the PHEV market. Manufacturers and energy providers are collaborating to develop vehicle-to-grid (V2G) systems that allow bidirectional energy flow, optimizing energy consumption and supporting grid stability. The rise of fast-charging stations and mobile charging units further enhances convenience and range reliability for PHEV owners. This technological evolution offers opportunities for automakers to expand ecosystem-based business models and improve user experience across global markets.

For instance, Toyota has developed a vehicle-to-grid (V2G) system that enables electric vehicles to supply electricity back to the grid during peak demand or outages, enhancing grid reliability through bidirectional energy flow.

Expansion of Hybrid Fleets in Commercial Mobility

The adoption of plug-in hybrid technology in commercial fleets, including logistics and ride-sharing services, offers significant growth potential. Businesses are increasingly shifting toward PHEVs to meet sustainability targets while maintaining operational flexibility. Fleet electrification reduces total cost of ownership through lower fuel and maintenance expenses. Governments offering fleet purchase incentives and corporate sustainability initiatives further amplify this opportunity. As demand for urban delivery and mobility-as-a-service models rises, hybrid fleet deployment is becoming a strategic avenue for market expansion.

For instance, DHL Supply Chain introduced Volvo FM electric trucks with a 540 kWh battery and a range of up to 180 miles in the UK, significantly reducing emissions and operational costs.

Key Challenges

High Initial Cost and Battery Replacement Expense

The high upfront cost of plug-in hybrid vehicles remains a major barrier to market growth. Advanced powertrain systems and battery components significantly increase vehicle pricing compared to conventional models. Additionally, long-term ownership costs rise with potential battery replacement expenses after warranty periods. These financial constraints deter middle-income consumers despite long-term fuel savings. Automakers are focusing on cost optimization, localized manufacturing, and scalable battery production to mitigate these pricing challenges and enhance affordability in emerging markets.

Limited Charging Infrastructure in Developing Regions

Insufficient charging infrastructure, particularly in developing and rural areas, poses a significant restraint to PHEV adoption. Inadequate public charging networks limit the convenience of recharging, discouraging potential buyers who rely on reliable access to charging facilities. While developed regions are advancing rapidly in charging deployment, developing nations lag due to high setup costs and grid limitations. Strategic government investment, private sector partnerships, and smart grid integration are essential to overcome this bottleneck and support the wider rollout of plug-in hybrid mobility solutions.

Regional Analysis

North America

North America accounted for 32% of the global Plug-in Hybrid Electric Vehicles (PHEV) market in 2024, valued at USD 13,605.54 million, up from USD 9,313.80 million in 2018. The market is projected to reach USD 35,474.54 million by 2032, registering a CAGR of 12.8%. Growth is primarily driven by strong government incentives, rapid EV infrastructure expansion, and the presence of leading automakers such as Ford, General Motors, and Tesla introducing hybrid variants. Increasing consumer preference for sustainable mobility and supportive emission policies are further propelling regional adoption, especially across the U.S. and Canada.

Europe

Europe represents 26% of the global PHEV market, valued at USD 10,751.81 million in 2024, rising from USD 7,552.50 million in 2018 and projected to reach USD 26,531.66 million by 2032, at a CAGR of 12.0%. The region benefits from stringent carbon regulations, widespread EV subsidies, and strong automotive innovation across Germany, France, and the UK. European automakers such as BMW, Volkswagen, and Mercedes-Benz are leading hybrid development, focusing on battery efficiency and sustainability. The EU’s Green Deal initiatives and growing public charging networks are strengthening the market outlook.

Asia Pacific

Asia Pacific dominates the global Plug-in Hybrid Electric Vehicles market with a 31% market share, valued at USD 12,991.58 million in 2024, up from USD 8,464.50 million in 2018, and is forecasted to reach USD 36,840.94 million by 2032, growing at a CAGR of 14.0%. China, Japan, and South Korea are key contributors due to massive investments in hybrid technology, large-scale production, and government-led electrification programs. Expanding urbanization, rising disposable incomes, and growing awareness of sustainable mobility are fueling adoption. Strategic collaborations among Asian automakers and battery producers further enhance regional competitiveness.

Latin America

Latin America held a 6% share of the Plug-in Hybrid Electric Vehicles market in 2024, valued at USD 2,464.15 million, rising from USD 1,681.50 million in 2018, and is anticipated to reach USD 5,936.63 million by 2032, growing at a CAGR of 11.7%. Brazil and Mexico are leading markets, driven by supportive policies for low-emission vehicles and growing awareness of fuel-efficient mobility. The availability of affordable hybrid options and increasing investment by global automakers are improving market accessibility. However, limited charging infrastructure continues to challenge widespread regional adoption.

Middle East

The Middle East accounted for 3% of the global market, valued at USD 1,206.69 million in 2024, up from USD 883.50 million in 2018, and is projected to reach USD 2,766.70 million by 2032, expanding at a CAGR of 11.0%. The region’s growth is driven by increasing governmental focus on energy diversification and sustainability initiatives, particularly in the UAE and Saudi Arabia. Premium automakers are introducing hybrid models tailored for high-performance segments. However, dependency on conventional fuel and limited local manufacturing capabilities slightly restrain faster adoption.

Africa

Africa represents 2% of the global Plug-in Hybrid Electric Vehicles market, with a valuation of USD 1,181.82 million in 2024, increasing from USD 604.20 million in 2018, and expected to reach USD 2,652.50 million by 2032, registering a CAGR of 10.2%. South Africa dominates regional sales, supported by gradual infrastructure development and rising environmental awareness. Although high vehicle costs and limited charging facilities pose barriers, growing government initiatives and foreign investment in green mobility are likely to boost adoption over the forecast period.\

Plug-in Hybrid Electric Vehicles Market segmentatiom

Market Segmentations:

By Power Source

Stored Electricity
On-board Electric Generator

By Powertrain

Series Hybrid
Parallel Hybrid
Combined Hybrid

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa

Competitive Landscape

The competitive landscape of the Plug-in Hybrid Electric Vehicles (PHEV) market is characterized by intense rivalry among leading automakers such as Toyota Motor Corporation, BMW Group, Ford Motor Company, Nissan Motor Co., Ltd., Mercedes-Benz Group AG, Volkswagen AG, Honda Motor Co., Ltd., Renault Group, and General Motors. These companies are focusing on expanding their hybrid vehicle portfolios through technological innovation, battery optimization, and integration of advanced connectivity features. Strategic partnerships, mergers, and joint ventures with battery suppliers and charging network providers are becoming crucial to enhancing market reach and production efficiency. Toyota and BMW continue to lead with robust R&D investments in hybrid architectures, while Ford and Volkswagen are accelerating the introduction of cost-effective PHEVs for mainstream consumers. Competition also centers on sustainability initiatives, lightweight materials, and improved powertrain performance. As emission regulations tighten globally, manufacturers are adopting electrification strategies to strengthen their market share and brand positioning in the hybrid vehicle segment.

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Key Player Analysis

Nissan Motor Co., Ltd.
Mercedes-Benz Group AG
General Motors
Volkswagen AG
Renault Group
Ford Motor Company
BMW Group
Honda Motor Co., Ltd.
Toyota Motor Corporation

Recent Developments

In October 2025, BYD Auto introduced its SEALION 6 DM-i, the company’s first plug-in hybrid model for the Japanese market, unveiled at the Japan Mobility Show 2025.
In December 2024, Toyota Motor Corporation revealed plans to launch its all-new Alphard and Vellfire PHEV models in Japan from January 2025.
In October 2025, Volvo Cars celebrated the delivery of its one-millionth plug-in hybrid vehicle, marking a key milestone in its electrification strategy.
On October 04, 2025, Chery Malaysia launched its TIGGO 7 PHEV and TIGGO 8 PHEV models, expanding its new energy vehicle line-up in Malaysia

Report Coverage

The research report offers an in-depth analysis based on Power Source, Powertrain and Region. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

The market will experience strong growth driven by the global shift toward sustainable mobility solutions.
Automakers will increase investments in hybrid technology to bridge the gap between conventional and fully electric vehicles.
Continuous advancements in battery technology will enhance range, charging efficiency, and overall vehicle performance.
Government policies promoting low-emission vehicles will accelerate adoption across major economies.
Integration of smart charging infrastructure and vehicle-to-grid technology will improve energy management and user convenience.
Hybrid models in the SUV and crossover segments will dominate due to rising consumer preference for versatile vehicles.
Expansion of hybrid fleets in logistics and public transportation will create new growth opportunities.
Emerging markets in Asia Pacific and Latin America will witness rapid adoption supported by urbanization and policy incentives.
Competition among key players will intensify, leading to more affordable and efficient hybrid offerings.
Technological convergence with autonomous and connected systems will shape the next generation of plug-in hybrid vehicles.

CHAPTER NO. 1 : GENESIS OF THE MARKET

1.1 Market Prelude – Introduction & Scope

1.2 The Big Picture – Objectives & Vision

1.3 Strategic Edge – Unique Value Proposition

1.4 Stakeholder Compass – Key Beneficiaries

CHAPTER NO. 2 : EXECUTIVE LENS

2.1 Pulse of the Industry – Market Snapshot

2.2 Growth Arc – Revenue Projections (USD Million)

2.3. Premium Insights – Based on Primary Interviews

CHAPTER NO. 3 : PLUG-IN HYBRID ELECTRIC VEHICLES MARKET FORCES & INDUSTRY PULSE

3.1 Foundations of Change – Market Overview
3.2 Catalysts of Expansion – Key Market Drivers
3.2.1 Momentum Boosters – Growth Triggers
3.2.2 Innovation Fuel – Disruptive Technologies
3.3 Headwinds & Crosswinds – Market Restraints
3.3.1 Regulatory Tides – Compliance Challenges
3.3.2 Economic Frictions – Inflationary Pressures
3.4 Untapped Horizons – Growth Potential & Opportunities
3.5 Strategic Navigation – Industry Frameworks
3.5.1 Market Equilibrium – Porter’s Five Forces
3.5.2 Ecosystem Dynamics – Value Chain Analysis
3.5.3 Macro Forces – PESTEL Breakdown

3.6 Price Trend Analysis

3.6.1 Regional Price Trend
3.6.2 Price Trend by product

CHAPTER NO. 4 : KEY INVESTMENT EPICENTER

4.1 Regional Goldmines – High-Growth Geographies

4.2 Power Source Frontiers – Lucrative Power Source Categories

4.3 Powertrain Sweet Spots – Emerging Demand Segments

CHAPTER NO. 5: REVENUE TRAJECTORY & WEALTH MAPPING

5.1 Momentum Metrics – Forecast & Growth Curves

5.2 Regional Revenue Footprint – Market Share Insights

5.3 Segmental Wealth Flow – Power Source & Powertrain Revenue

CHAPTER NO. 6 : TRADE & COMMERCE ANALYSIS

6.1. Import Analysis by Region

6.1.1. Global Plug-in Hybrid Electric Vehicles Market Import Revenue By Region

6.2. Export Analysis by Region

6.2.1. Global Plug-in Hybrid Electric Vehicles Market Export Revenue By Region

CHAPTER NO. 7 : COMPETITION ANALYSIS

7.1. Company Market Share Analysis

7.1.1. Global Plug-in Hybrid Electric Vehicles Market: Company Market Share

7.2. Global Plug-in Hybrid Electric Vehicles Market Company Revenue Market Share

7.3. Strategic Developments

7.3.1. Acquisitions & Mergers

7.3.2. New Power Source Launch

7.3.3. Regional Expansion

7.4. Competitive Dashboard

7.5. Company Assessment Metrics, 2024

CHAPTER NO. 8 : PLUG-IN HYBRID ELECTRIC VEHICLES MARKET – BY POWER SOURCE SEGMENT ANALYSIS

8.1. Plug-in Hybrid Electric Vehicles Market Overview by Power Source Segment

8.1.1. Plug-in Hybrid Electric Vehicles Market Revenue Share By Power Source

8.1.2. Plug-in Hybrid Electric Vehicles Market Revenue Share By Power Source

8.2. Stored Electricity

8.3. On-board Electric Generator

CHAPTER NO. 9 : PLUG-IN HYBRID ELECTRIC VEHICLES MARKET – BY POWERTRAIN SEGMENT ANALYSIS

9.1. Plug-in Hybrid Electric Vehicles Market Overview by Powertrain Segment

9.1.1. Plug-in Hybrid Electric Vehicles Market Revenue Share By Powertrain

9.1.2. Plug-in Hybrid Electric Vehicles Market Revenue Share By Powertrain

9.2. Series Hybrid

9.3. Parallel Hybrid

9.4. Combined Hybrid

CHAPTER NO. 10 : PLUG-IN HYBRID ELECTRIC VEHICLES MARKET – REGIONAL ANALYSIS

10.1. Plug-in Hybrid Electric Vehicles Market Overview by Region Segment

10.1.1. Global Plug-in Hybrid Electric Vehicles Market Revenue Share By Region

10.1.2. Regions

10.1.3. Global Plug-in Hybrid Electric Vehicles Market Revenue By Region

10.1.4. Global Plug-in Hybrid Electric Vehicles Market Revenue By Region

10.1.5. Power Source

10.1.6. Global Plug-in Hybrid Electric Vehicles Market Revenue By Power Source

10.1.7. Global Plug-in Hybrid Electric Vehicles Market Revenue By Power Source

10.1.8. Powertrain

10.1.9. Global Plug-in Hybrid Electric Vehicles Market Revenue By Powertrain

10.1.10. Global Plug-in Hybrid Electric Vehicles Market Revenue By Powertrain

CHAPTER NO. 11 : NORTH AMERICA PLUG-IN HYBRID ELECTRIC VEHICLES MARKET – COUNTRY ANALYSIS

11.1. North America Plug-in Hybrid Electric Vehicles Market Overview by Country Segment

11.1.1. North America Plug-in Hybrid Electric Vehicles Market Revenue Share By Region

11.2. North America

11.2.1. North America Plug-in Hybrid Electric Vehicles Market Revenue By Country

11.2.2. Power Source

11.2.3. North America Plug-in Hybrid Electric Vehicles Market Revenue By Power Source

11.2.4. Powertrain

11.2.5. North America Plug-in Hybrid Electric Vehicles Market Revenue By Powertrain

11.3. U.S.

11.4. Canada

11.5. Mexico

CHAPTER NO. 12 : EUROPE PLUG-IN HYBRID ELECTRIC VEHICLES MARKET – COUNTRY ANALYSIS

12.1. Europe Plug-in Hybrid Electric Vehicles Market Overview by Country Segment

12.1.1. Europe Plug-in Hybrid Electric Vehicles Market Revenue Share By Region

12.2. Europe

12.2.1. Europe Plug-in Hybrid Electric Vehicles Market Revenue By Country

12.2.2. Power Source

12.2.3. Europe Plug-in Hybrid Electric Vehicles Market Revenue By Power Source

12.2.4. Powertrain

12.2.5. Europe Plug-in Hybrid Electric Vehicles Market Revenue By Powertrain

12.3. UK

12.4. France

12.5. Germany

12.6. Italy

12.7. Spain

12.8. Russia

12.9. Rest of Europe

CHAPTER NO. 13 : ASIA PACIFIC PLUG-IN HYBRID ELECTRIC VEHICLES MARKET – COUNTRY ANALYSIS

13.1. Asia Pacific Plug-in Hybrid Electric Vehicles Market Overview by Country Segment

13.1.1. Asia Pacific Plug-in Hybrid Electric Vehicles Market Revenue Share By Region

13.2. Asia Pacific

13.2.1. Asia Pacific Plug-in Hybrid Electric Vehicles Market Revenue By Country

13.2.2. Power Source

13.2.3. Asia Pacific Plug-in Hybrid Electric Vehicles Market Revenue By Power Source

13.2.4. Powertrain

13.2.5. Asia Pacific Plug-in Hybrid Electric Vehicles Market Revenue By Powertrain

13.3. China

13.4. Japan

13.5. South Korea

13.6. India

13.7. Australia

13.8. Southeast Asia

13.9. Rest of Asia Pacific

CHAPTER NO. 14 : LATIN AMERICA PLUG-IN HYBRID ELECTRIC VEHICLES MARKET – COUNTRY ANALYSIS

14.1. Latin America Plug-in Hybrid Electric Vehicles Market Overview by Country Segment

14.1.1. Latin America Plug-in Hybrid Electric Vehicles Market Revenue Share By Region

14.2. Latin America

14.2.1. Latin America Plug-in Hybrid Electric Vehicles Market Revenue By Country

14.2.2. Power Source

14.2.3. Latin America Plug-in Hybrid Electric Vehicles Market Revenue By Power Source

14.2.4. Powertrain

14.2.5. Latin America Plug-in Hybrid Electric Vehicles Market Revenue By Powertrain

14.3. Brazil

14.4. Argentina

14.5. Rest of Latin America

CHAPTER NO. 15 : MIDDLE EAST PLUG-IN HYBRID ELECTRIC VEHICLES MARKET – COUNTRY ANALYSIS

15.1. Middle East Plug-in Hybrid Electric Vehicles Market Overview by Country Segment

15.1.1. Middle East Plug-in Hybrid Electric Vehicles Market Revenue Share By Region

15.2. Middle East

15.2.1. Middle East Plug-in Hybrid Electric Vehicles Market Revenue By Country

15.2.2. Power Source

15.2.3. Middle East Plug-in Hybrid Electric Vehicles Market Revenue By Power Source

15.2.4. Powertrain

15.2.5. Middle East Plug-in Hybrid Electric Vehicles Market Revenue By Powertrain

15.3. GCC Countries

15.4. Israel

15.5. Turkey

15.6. Rest of Middle East

CHAPTER NO. 16 : AFRICA PLUG-IN HYBRID ELECTRIC VEHICLES MARKET – COUNTRY ANALYSIS

16.1. Africa Plug-in Hybrid Electric Vehicles Market Overview by Country Segment

16.1.1. Africa Plug-in Hybrid Electric Vehicles Market Revenue Share By Region

16.2. Africa

16.2.1. Africa Plug-in Hybrid Electric Vehicles Market Revenue By Country

16.2.2. Power Source

16.2.3. Africa Plug-in Hybrid Electric Vehicles Market Revenue By Power Source

16.2.4. Powertrain

16.2.5. Africa Plug-in Hybrid Electric Vehicles Market Revenue By Powertrain

16.3. South Africa

16.4. Egypt

16.5. Rest of Africa

CHAPTER NO. 17 : COMPANY PROFILES

17.1. Nissan Motor Co., Ltd

17.1.1. Company Overview

17.1.2. Power Source Portfolio

17.1.3. Financial Overview

17.1.4. Recent Developments

17.1.5. Growth Strategy

17.1.6. SWOT Analysis

17.2. Mercedes-Benz Group AG

17.3. General Motors

17.4. Volkswagen AG

17.5 Renault Group

17.6. Ford Motor Company

17.7. BMW Group

17.8. Honda Motor Co., Ltd.

17.9. Toyota Motor Corporation

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Frequently asked questions

What is the current market size for the Plug-in Hybrid Electric Vehicles Market, and what is its projected size in 2032?

The Plug-in Hybrid Electric Vehicles Market was valued at USD 42,201.60 million in 2024 and is projected to reach USD 110,202.97 million by 2032.

At what Compound Annual Growth Rate is the Plug-in Hybrid Electric Vehicles Market projected to grow between 2025 and 2032?

The Plug-in Hybrid Electric Vehicles Market is projected to grow at a CAGR of 12.81% during the forecast period.

Which Plug-in Hybrid Electric Vehicles Market segment held the largest share in 2024?

The stored electricity segment held the largest share of 71% in the Plug-in Hybrid Electric Vehicles Market in 2024.

What are the primary factors fueling the growth of the Plug-in Hybrid Electric Vehicles Market?

The growth of the Plug-in Hybrid Electric Vehicles Market is driven by advancements in battery technology, government incentives, and rising consumer demand for fuel-efficient vehicles.

Who are the leading companies in the Plug-in Hybrid Electric Vehicles Market?

Key players in the Plug-in Hybrid Electric Vehicles Market include Toyota Motor Corporation, BMW Group, Ford Motor Company, Nissan Motor Co., Ltd., and Volkswagen AG

Who are the major players in this market?

Capgemini S.A., EMC Corporation, Hitachi, Ltd., Hewlett-Packard, IBM Corporation, Newgen Software, Inc., Cisco Systems, Inc., SAP SE, SAS Institute, Tata Consultancy Services Ltd. are some of the major players in the global market.

About Author

Ganesh Chandwade

Senior Industry Consultant

Ganesh is a senior industry consultant specializing in heavy industries and advanced materials.

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