Plug-in Hybrid Electric Vehicle (PHEV) Market

Plug-in hybrid electric vehicle sales will expand through 2035, with parallel hybrid holding 82.1% share of the powertrain segment in 2025. Passenger cars account for 78.4% share of the vehicle type segment in 2025. The market is expected to reach USD 42.4 billion in 2025 and USD 219.8 billion by 2035.