Plug-in Hybrid Electric Vehicles (PHEV) Market: Global Industry Analysis and Opportunity Assessment 2016-2026

Plug-in Hybrid Electric Vehicles (PHEV) Market: Global Industry Analysis and Opportunity Assessment 2016-2026

Market Overview

A Plug-in Hybrid Electric Vehicle (PHEV) is a vehicle which comprises of internal combustion engine (IC Engine), electric motor, and a rechargeable battery. The PHEV can work even after their battery is emptied, by using IC Engine and can operate as a conventional vehicle. The combination of both electric and IC engine power enable the vehicle to travel long distances. As compared to conventional vehicles, plug-in hybrid electric vehicles emit less harmful greenhouse gases, thus making them more environment friendly than the conventional vehicles. PHEVs are mostly passenger cars but there are light commercial vehicles, heavy commercial vehicle, and two wheelers which have this feature available. The PHEV is popular in number of countries such as U.S., China, Japan, the Netherlands, and Canada. The plug-in hybrid electric vehicle gaining popularity in other countries as well such as France, Italy, Germany, Sweden, U.K., Norway, and Spain among others.

Global Plug-in Hybrid Electric Vehicle Market Dynamics: 

Global Plug-in Hybrid Electric Vehicle Market is driven by rising environment concerns, stringent emission norms, and subsidies & tax benefits by the governments. Plug-in Hybrid Electric Vehicle Market is facing restraints such as high cost of plug-in hybrid electric vehicles, lack of infrastructure such as plug-in charging points, and high cost of battery. To overcome these restraints private sector and government organizations should work closely to ensure the cost of the plug-in hybrid vehicle decreases and construction of adequate infrastructure. Along with this, public awareness programs should be carried out to aware the public about the benefits of the plug-in hybrid electric vehicles over the conventional vehicles.

Global Plug-in Hybrid Electric Vehicle Market: Regional Outlook:

Geographically, the global Plug-in Hybrid Electric Vehicle market can be divided  by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. The market for plug-in hybrid electric vehicle is prominent in North America and European countries, though in Asia Pacific region China and Japan are the major market for plug-in hybrid electric vehicles. In coming years, it is anticipated that the potential market for plug-in hybrid electric vehicle will be India, Brazil, South Africa, Russia, and Mexico. By region, North America is expected to hold highest market share followed by Europe in the global Plug-in Hybrid Electric Vehicle market. However, global growth opportunities mainly lies in the emerging markets where Plug-in Hybrid Electric Vehicle is currently in a nascent phase.

Global Plug-in Hybrid Electric Vehicle Market Players:

The major players identified for the global Plug-in Hybrid Electric Vehiclemarket include Daimler AG, General Motors Corporation, Toyota Motor Corporation, Mitsubishi Motors Corporation, BYD Auto Co. Ltd., Volkswagen AG, BMW AG, Honda Motor Co. Ltd., and Hyundai Motor Company among others. The companies are emphasizing on research & development and new product development in order to cater the growing demand for plug-in hybrid electric vehicles. Many automotive OEMs are launching their new plug-in hybrid electric vehicles in the market. For example, BMW launched its new plug-in hybrid electric vehicle BMW X5 in 2016. Other plug-in hybrid electric vehicles available in the market are Toyota Prius, Cadillac ELR, Chevrolet Volt, Porsche Panamera, Porsche 918 Spyder, Ford C-Max, Ford Fusion, Mercedes-Benz S-Class, BMW i8, Opel Ampera, Volkswagen Golf, and others

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.

The report covers exhaustive analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Value Chain

Regionalanalysis includes:

  • North America
  • Latin America
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • Western Europe
  • Eastern  Europe
  • Middle East & Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.

Global Plug-in Hybrid Electric Vehicle Market Segmentation:

The global Plug-in Hybrid Electric Vehicle market is segmented on the basis of vehicle type, technology, and region.

The global Plug-in Hybrid Electric Vehicle Market is segmented on the basis of Vehicle Type

  • passenger car
  • light commercial vehicle.

The PHEV market is also segmented on the basis of Technology:

  • series
  • parallel
  • series-parallel

The global Plug-in Hybrid Electric Vehicle market is segmented on the basis of region as

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • The Middle East and Africa (MEA)

Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

Need specific information?

In the news

How Businesses Can Utilize Market Research to Create Reactive, Recession-proof Strategies for Survival

by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights

Our Clients

View Our Reports from Automotive

View Reports

Recommendations

Plug In Hybrid Electric Vehicles Phev Market