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PUBLISHER: IMARC | PRODUCT CODE: 1675407

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PUBLISHER: IMARC | PRODUCT CODE: 1675407

Alternative Fuel and Hybrid Vehicle Market by Fuel Type, Vehicle Type, Vehicle Class, and Region 2025-2033

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Description

Table of Contents

List of Tables

The global alternative fuel and hybrid vehicle market size reached USD 920.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 9,356.5 Billion by 2033, exhibiting a growth rate (CAGR) of 27.92% during 2025-2033. The burgeoning automobile industry, rising greenhouse gas emissions, and the inflating prices of fossil fuels represent some of the key factors driving the market.

Alternative fuel and hybrid vehicles are powered by an internal combustion engine that runs on alternative fuels rather than conventional fuels. These vehicles rely on biofuel, biodiesel, fuel cell, natural gas, solar batteries, electricity-based vehicles, nitrogen, diethyl ether, and other fuels. They collect lost energy during braking by storing the captured energy in the battery and using the electric motor as a generator. Alternative fuel and hybrid vehicles rely on regenerative braking and the internal combustion engine to charge and offer low tailpipe emissions and high fuel economy with the power and range of conventional vehicles. These vehicles provide power to auxiliary loads and enhance performance to reduce engine idling when the vehicle is stopped. They reduce the dependence on fossil fuels as alternative fuels are largely produced domestically.

Alternative Fuel and Hybrid Vehicle Market Trends:

At present, the rising sales of hybrid vehicles, along with the increasing demand for commercial electric vehicles (EVs) in the e-commerce sector for last-mile delivery operations, represent one of the key factors supporting the growth of the market. Besides this, there is an increase in the demand for electric-based vehicles with developed electrification systems providing various benefits, such as low carbon emissions, high fuel efficiency, and cost-effectiveness, across the globe. This, coupled with the thriving automobile industry, is currently strengthening the growth of the market. In addition, the rising awareness among the masses about the benefits of using alternative fuel and hybrid vehicles to prevent greenhouse gas emissions and reduce air pollution is propelling the growth of the market. Moreover, governing agencies of various countries are presently implementing stringent regulations to achieve net zero emissions targets. They are also providing subsidies to increase the purchase of EVs, which is catalyzing the demand for alternative fuel and hybrid vehicles. Apart from this, the growing demand for alternative fuel and hybrid vehicles due to the increasing prices of fossil fuels is positively influencing the market. Additionally, key manufacturers are introducing compressed natural gas (CNG) variants of various vehicles and a fuel cell prototype for hydrogen-powered cars, which is projected to bolster the growth of the market.

Key Market Segmentation:

Fuel Type Insights:

  • Hybrid Vehicles
  • Plugin Hybrid Vehicles
  • Battery Electric Vehicles
  • Others

Vehicle Type Insights:

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

Vehicle Class Insights:

  • Economical Vehicles
  • Mid-priced Vehicles
  • Luxury Vehicles

Regional Insights:

  • North America
  • United States
  • Canada
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa
  • The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. According to the report, Asia Pacific was the largest market for alternative fuel and hybrid vehicle. Some of factors driving the Asia Pacific alternative fuel and hybrid vehicle market included the growing number of alternate fuel stations, increasing environmental concerns, rising adoption of cleaner fuels, etc.
  • Competitive Landscape
  • The report has also provided a comprehensive analysis of the competitive landscape in the global alternative fuel and hybrid vehicle market. Detailed profiles of all major companies have also been provided. Some of the companies include Bayerische Motoren Werke AG, BYD Company Ltd., Ford Motor Company, Mercedes-benz Group AG, Mitsubishi Motors Corporation, Tesla Inc., Toyota Motor Corporation, Volkswagen AG, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:

  • How has the global alternative fuel and hybrid vehicle market performed so far and how will it perform in the coming years?
  • What are the drivers, restraints, and opportunities in the global alternative fuel and hybrid vehicle market?
  • What are the key regional markets?
  • Which countries represent the most attractive alternative fuel and hybrid vehicle markets?
  • What is the breakup of the market based on the fuel type?
  • What is the breakup of the market based on the vehicle type?
  • What is the breakup of the market based on the vehicle class?
  • What is the competitive structure of the global alternative fuel and hybrid vehicle market?
  • Who are the key players/companies in the global alternative fuel and hybrid vehicle market?
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Product Code: SR112025A6885

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Alternative Fuel and Hybrid Vehicle Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Fuel Type

  • 6.1 Hybrid Vehicles
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Plugin Hybrid Vehicles
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast
  • 6.3 Battery Electric Vehicles
    • 6.3.1 Market Trends
    • 6.3.2 Market Forecast
  • 6.4 Others
    • 6.4.1 Market Trends
    • 6.4.2 Market Forecast

7 Market Breakup by Vehicle Type

  • 7.1 Passenger Cars
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Light Commercial Vehicles
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast
  • 7.3 Heavy Commercial Vehicles
    • 7.3.1 Market Trends
    • 7.3.2 Market Forecast

8 Market Breakup by Vehicle Class

  • 8.1 Economical Vehicles
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Mid-priced Vehicles
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast
  • 8.3 Luxury Vehicles
    • 8.3.1 Market Trends
    • 8.3.2 Market Forecast

9 Market Breakup by Region

  • 9.1 North America
    • 9.1.1 United States
      • 9.1.1.1 Market Trends
      • 9.1.1.2 Market Forecast
    • 9.1.2 Canada
      • 9.1.2.1 Market Trends
      • 9.1.2.2 Market Forecast
  • 9.2 Asia-Pacific
    • 9.2.1 China
      • 9.2.1.1 Market Trends
      • 9.2.1.2 Market Forecast
    • 9.2.2 Japan
      • 9.2.2.1 Market Trends
      • 9.2.2.2 Market Forecast
    • 9.2.3 India
      • 9.2.3.1 Market Trends
      • 9.2.3.2 Market Forecast
    • 9.2.4 South Korea
      • 9.2.4.1 Market Trends
      • 9.2.4.2 Market Forecast
    • 9.2.5 Australia
      • 9.2.5.1 Market Trends
      • 9.2.5.2 Market Forecast
    • 9.2.6 Indonesia
      • 9.2.6.1 Market Trends
      • 9.2.6.2 Market Forecast
    • 9.2.7 Others
      • 9.2.7.1 Market Trends
      • 9.2.7.2 Market Forecast
  • 9.3 Europe
    • 9.3.1 Germany
      • 9.3.1.1 Market Trends
      • 9.3.1.2 Market Forecast
    • 9.3.2 France
      • 9.3.2.1 Market Trends
      • 9.3.2.2 Market Forecast
    • 9.3.3 United Kingdom
      • 9.3.3.1 Market Trends
      • 9.3.3.2 Market Forecast
    • 9.3.4 Italy
      • 9.3.4.1 Market Trends
      • 9.3.4.2 Market Forecast
    • 9.3.5 Spain
      • 9.3.5.1 Market Trends
      • 9.3.5.2 Market Forecast
    • 9.3.6 Russia
      • 9.3.6.1 Market Trends
      • 9.3.6.2 Market Forecast
    • 9.3.7 Others
      • 9.3.7.1 Market Trends
      • 9.3.7.2 Market Forecast
  • 9.4 Latin America
    • 9.4.1 Brazil
      • 9.4.1.1 Market Trends
      • 9.4.1.2 Market Forecast
    • 9.4.2 Mexico
      • 9.4.2.1 Market Trends
      • 9.4.2.2 Market Forecast
    • 9.4.3 Others
      • 9.4.3.1 Market Trends
      • 9.4.3.2 Market Forecast
  • 9.5 Middle East and Africa
    • 9.5.1 Market Trends
    • 9.5.2 Market Breakup by Country
    • 9.5.3 Market Forecast

10 Drivers, Restraints, and Opportunities

  • 10.1 Overview
  • 10.2 Drivers
  • 10.3 Restraints
  • 10.4 Opportunities

11 Value Chain Analysis

12 Porters Five Forces Analysis

  • 12.1 Overview
  • 12.2 Bargaining Power of Buyers
  • 12.3 Bargaining Power of Suppliers
  • 12.4 Degree of Competition
  • 12.5 Threat of New Entrants
  • 12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

  • 14.1 Market Structure
  • 14.2 Key Players
  • 14.3 Profiles of Key Players
    • 14.3.1 Bayerische Motoren Werke AG
      • 14.3.1.1 Company Overview
      • 14.3.1.2 Product Portfolio
      • 14.3.1.3 Financials
      • 14.3.1.4 SWOT Analysis
    • 14.3.2 BYD Company Ltd
      • 14.3.2.1 Company Overview
      • 14.3.2.2 Product Portfolio
      • 14.3.2.3 Financials
      • 14.3.2.4 SWOT Analysis
    • 14.3.3 Ford Motor Company
      • 14.3.3.1 Company Overview
      • 14.3.3.2 Product Portfolio
      • 14.3.3.3 Financials
      • 14.3.3.4 SWOT Analysis
    • 14.3.4 Mercedes-benz Group AG
      • 14.3.4.1 Company Overview
      • 14.3.4.2 Product Portfolio
      • 14.3.4.3 Financials
      • 14.3.4.4 SWOT Analysis
    • 14.3.5 Mitsubishi Motors Corporation
      • 14.3.5.1 Company Overview
      • 14.3.5.2 Product Portfolio
      • 14.3.5.3 Financials
      • 14.3.5.4 SWOT Analysis
    • 14.3.6 Tesla Inc.
      • 14.3.6.1 Company Overview
      • 14.3.6.2 Product Portfolio
      • 14.3.6.3 Financials
      • 14.3.6.4 SWOT Analysis
    • 14.3.7 Toyota Motor Corporation
      • 14.3.7.1 Company Overview
      • 14.3.7.2 Product Portfolio
      • 14.3.7.3 Financials
      • 14.3.7.4 SWOT Analysis
    • 14.3.8 Volkswagen AG
      • 14.3.8.1 Company Overview
      • 14.3.8.2 Product Portfolio
      • 14.3.8.3 Financials
      • 14.3.8.4 SWOT Analysis

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

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Product Code: SR112025A6885

List of Figures

  • Figure 1: Global: Alternative Fuel and Hybrid Vehicle Market: Major Drivers and Challenges
  • Figure 2: Global: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Billion USD), 2019-2024
  • Figure 3: Global: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Billion USD), 2025-2033
  • Figure 4: Global: Alternative Fuel and Hybrid Vehicle Market: Breakup by Fuel Type (in %), 2024
  • Figure 5: Global: Alternative Fuel and Hybrid Vehicle Market: Breakup by Vehicle Type (in %), 2024
  • Figure 6: Global: Alternative Fuel and Hybrid Vehicle Market: Breakup by Vehicle Class (in %), 2024
  • Figure 7: Global: Alternative Fuel and Hybrid Vehicle Market: Breakup by Region (in %), 2024
  • Figure 8: Global: Alternative Fuel and Hybrid Vehicle (Hybrid Vehicles) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 9: Global: Alternative Fuel and Hybrid Vehicle (Hybrid Vehicles) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 10: Global: Alternative Fuel and Hybrid Vehicle (Plugin Hybrid Vehicles) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 11: Global: Alternative Fuel and Hybrid Vehicle (Plugin Hybrid Vehicles) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 12: Global: Alternative Fuel and Hybrid Vehicle (Battery Electric Vehicles) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 13: Global: Alternative Fuel and Hybrid Vehicle (Battery Electric Vehicles) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 14: Global: Alternative Fuel and Hybrid Vehicle (Other Fuel Types) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 15: Global: Alternative Fuel and Hybrid Vehicle (Other Fuel Types) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 16: Global: Alternative Fuel and Hybrid Vehicle (Passenger Cars) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 17: Global: Alternative Fuel and Hybrid Vehicle (Passenger Cars) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 18: Global: Alternative Fuel and Hybrid Vehicle (Light Commercial Vehicles) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 19: Global: Alternative Fuel and Hybrid Vehicle (Light Commercial Vehicles) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 20: Global: Alternative Fuel and Hybrid Vehicle (Heavy Commercial Vehicles) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 21: Global: Alternative Fuel and Hybrid Vehicle (Heavy Commercial Vehicles) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 22: Global: Alternative Fuel and Hybrid Vehicle (Economical Vehicles) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 23: Global: Alternative Fuel and Hybrid Vehicle (Economical Vehicles) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 24: Global: Alternative Fuel and Hybrid Vehicle (Mid-priced Vehicles) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 25: Global: Alternative Fuel and Hybrid Vehicle (Mid-priced Vehicles) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 26: Global: Alternative Fuel and Hybrid Vehicle (Luxury Vehicles) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 27: Global: Alternative Fuel and Hybrid Vehicle (Luxury Vehicles) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 28: North America: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 29: North America: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 30: United States: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 31: United States: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 32: Canada: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 33: Canada: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 34: Asia-Pacific: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 35: Asia-Pacific: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 36: China: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 37: China: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 38: Japan: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 39: Japan: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 40: India: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 41: India: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 42: South Korea: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 43: South Korea: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 44: Australia: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 45: Australia: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 46: Indonesia: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 47: Indonesia: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 48: Others: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 49: Others: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 50: Europe: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 51: Europe: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 52: Germany: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 53: Germany: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 54: France: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 55: France: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 56: United Kingdom: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 57: United Kingdom: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 58: Italy: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 59: Italy: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 60: Spain: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 61: Spain: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 62: Russia: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 63: Russia: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 64: Others: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 65: Others: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 66: Latin America: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 67: Latin America: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 68: Brazil: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 69: Brazil: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 70: Mexico: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 71: Mexico: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 72: Others: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 73: Others: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 74: Middle East and Africa: Alternative Fuel and Hybrid Vehicle Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 75: Middle East and Africa: Alternative Fuel and Hybrid Vehicle Market: Breakup by Country (in %), 2024
  • Figure 76: Middle East and Africa: Alternative Fuel and Hybrid Vehicle Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 77: Global: Alternative Fuel and Hybrid Vehicle Industry: Drivers, Restraints, and Opportunities
  • Figure 78: Global: Alternative Fuel and Hybrid Vehicle Industry: Value Chain Analysis
  • Figure 79: Global: Alternative Fuel and Hybrid Vehicle Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Alternative Fuel and Hybrid Vehicle Market: Key Industry Highlights, 2024 & 2033
  • Table 2: Global: Alternative Fuel and Hybrid Vehicle Market Forecast: Breakup by Fuel Type (in Million USD), 2025-2033
  • Table 3: Global: Alternative Fuel and Hybrid Vehicle Market Forecast: Breakup by Vehicle Type (in Million USD), 2025-2033
  • Table 4: Global: Alternative Fuel and Hybrid Vehicle Market Forecast: Breakup by Vehicle Class (in Million USD), 2025-2033
  • Table 5: Global: Alternative Fuel and Hybrid Vehicle Market Forecast: Breakup by Region (in Million USD), 2025-2033
  • Table 6: Global: Alternative Fuel and Hybrid Vehicle Market: Competitive Structure
  • Table 7: Global: Alternative Fuel and Hybrid Vehicle Market: Key Players
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