Global Hybrid Electric Vehicle Conversion Kit Market 2024-2028

Description

List of Tables

The hybrid electric vehicle conversion kit market is forecasted to grow by USD 536.27 mn during 2023-2028, accelerating at a CAGR of 15.85% during the forecast period. The report on the hybrid electric vehicle conversion kit market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by enforcement of regulations to propel adoption of efficient conversion kits, rising conversion kit adoption with development in emerging markets, and development of grid-independent low-cost hybrid kit for light vehicles.

Technavio's hybrid electric vehicle conversion kit market is segmented as below:

Market Scope
Base Year	2024
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	15.43%
CAGR	15.85%
Incremental Value	$536.27mn

By Application

Passenger cars
Commercial vehicles

By Vehicle Type

Mid priced
Luxury

By Geographical Landscape

APAC
North America
Europe
South America
Middle East and Africa

This study identifies the increasing development of low-cost conversion kits as one of the prime reasons driving the hybrid electric vehicle conversion kit market growth during the next few years. Also, growing development of simplified and lightweight conversion kits and growing development of solar hybrid electric cars will lead to sizable demand in the market.

The report on the hybrid electric vehicle conversion kit market covers the following areas:

Hybrid electric vehicle conversion kit market sizing
Hybrid electric vehicle conversion kit market forecast
Hybrid electric vehicle conversion kit market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading hybrid electric vehicle conversion kit market vendors that include Altigreen, ARADEX AG, BRUSA HyPower AG, Canadian Electric Vehicles Ltd., Electric GT Inc., Enginer, EV West, EVDrive, Flux Hybrids, FOLKS MOTOR, General Motors Co., Green Shed Conversions, Hybrid Design Services, IX Energy Pvt Ltd., Odyne Systems LLC, Oz DIY, Starya Mobility Pvt Ltd., Stealth EV, ThunderStruck Motors LLC, Wanxiang Group, ZELECTRIC MOTORS LLC, and Metric Mind Engineering. Also, the hybrid electric vehicle conversion kit market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR44629

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by Application
Exhibit 06: Executive Summary - Chart on Market Segmentation by Vehicle Type
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global hybrid electric vehicle conversion kit market 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on global hybrid electric vehicle conversion kit market 2018 - 2022 ($ million)
4.2 Application Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - Application Segment 2018 - 2022 ($ million)
4.3 Vehicle Type Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - Vehicle Type Segment 2018 - 2022 ($ million)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ million)
4.5 Country Segment Analysis 2018 - 2022
Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Application

6.1 Market segments
Exhibit 30: Chart on Application - Market share 2023-2028 (%)
Exhibit 31: Data Table on Application - Market share 2023-2028 (%)
6.2 Comparison by Application
Exhibit 32: Chart on Comparison by Application
Exhibit 33: Data Table on Comparison by Application
6.3 Passenger cars - Market size and forecast 2023-2028
Exhibit 34: Chart on Passenger cars - Market size and forecast 2023-2028 ($ million)
Exhibit 35: Data Table on Passenger cars - Market size and forecast 2023-2028 ($ million)
Exhibit 36: Chart on Passenger cars - Year-over-year growth 2023-2028 (%)
Exhibit 37: Data Table on Passenger cars - Year-over-year growth 2023-2028 (%)
6.4 Commercial vehicles - Market size and forecast 2023-2028
Exhibit 38: Chart on Commercial vehicles - Market size and forecast 2023-2028 ($ million)
Exhibit 39: Data Table on Commercial vehicles - Market size and forecast 2023-2028 ($ million)
Exhibit 40: Chart on Commercial vehicles - Year-over-year growth 2023-2028 (%)
Exhibit 41: Data Table on Commercial vehicles - Year-over-year growth 2023-2028 (%)
6.5 Market opportunity by Application
Exhibit 42: Market opportunity by Application ($ million)
Exhibit 43: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Vehicle Type

7.1 Market segments
Exhibit 44: Chart on Vehicle Type - Market share 2023-2028 (%)
Exhibit 45: Data Table on Vehicle Type - Market share 2023-2028 (%)
7.2 Comparison by Vehicle Type
Exhibit 46: Chart on Comparison by Vehicle Type
Exhibit 47: Data Table on Comparison by Vehicle Type
7.3 Mid priced - Market size and forecast 2023-2028
Exhibit 48: Chart on Mid priced - Market size and forecast 2023-2028 ($ million)
Exhibit 49: Data Table on Mid priced - Market size and forecast 2023-2028 ($ million)
Exhibit 50: Chart on Mid priced - Year-over-year growth 2023-2028 (%)
Exhibit 51: Data Table on Mid priced - Year-over-year growth 2023-2028 (%)
7.4 Luxury - Market size and forecast 2023-2028
Exhibit 52: Chart on Luxury - Market size and forecast 2023-2028 ($ million)
Exhibit 53: Data Table on Luxury - Market size and forecast 2023-2028 ($ million)
Exhibit 54: Chart on Luxury - Year-over-year growth 2023-2028 (%)
Exhibit 55: Data Table on Luxury - Year-over-year growth 2023-2028 (%)
7.5 Market opportunity by Vehicle Type
Exhibit 56: Market opportunity by Vehicle Type ($ million)
Exhibit 57: Data Table on Market opportunity by Vehicle Type ($ million)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 59: Chart on Market share By Geographical Landscape 2023-2028 (%)
Exhibit 60: Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
Exhibit 61: Chart on Geographic comparison
Exhibit 62: Data Table on Geographic comparison
9.3 APAC - Market size and forecast 2023-2028
Exhibit 63: Chart on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 64: Data Table on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 65: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibit 66: Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.4 North America - Market size and forecast 2023-2028
Exhibit 67: Chart on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 68: Data Table on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 69: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibit 70: Data Table on North America - Year-over-year growth 2023-2028 (%)
9.5 Europe - Market size and forecast 2023-2028
Exhibit 71: Chart on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 72: Data Table on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 73: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibit 74: Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.6 South America - Market size and forecast 2023-2028
Exhibit 75: Chart on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 76: Data Table on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 77: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibit 78: Data Table on South America - Year-over-year growth 2023-2028 (%)
9.7 Middle East and Africa - Market size and forecast 2023-2028
Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
Exhibit 83: Chart on US - Market size and forecast 2023-2028 ($ million)
Exhibit 84: Data Table on US - Market size and forecast 2023-2028 ($ million)
Exhibit 85: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 86: Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 China - Market size and forecast 2023-2028
Exhibit 87: Chart on China - Market size and forecast 2023-2028 ($ million)
Exhibit 88: Data Table on China - Market size and forecast 2023-2028 ($ million)
Exhibit 89: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibit 90: Data Table on China - Year-over-year growth 2023-2028 (%)
9.10 Canada - Market size and forecast 2023-2028
Exhibit 91: Chart on Canada - Market size and forecast 2023-2028 ($ million)
Exhibit 92: Data Table on Canada - Market size and forecast 2023-2028 ($ million)
Exhibit 93: Chart on Canada - Year-over-year growth 2023-2028 (%)
Exhibit 94: Data Table on Canada - Year-over-year growth 2023-2028 (%)
9.11 Japan - Market size and forecast 2023-2028
Exhibit 95: Chart on Japan - Market size and forecast 2023-2028 ($ million)
Exhibit 96: Data Table on Japan - Market size and forecast 2023-2028 ($ million)
Exhibit 97: Chart on Japan - Year-over-year growth 2023-2028 (%)
Exhibit 98: Data Table on Japan - Year-over-year growth 2023-2028 (%)
9.12 Germany - Market size and forecast 2023-2028
Exhibit 99: Chart on Germany - Market size and forecast 2023-2028 ($ million)
Exhibit 100: Data Table on Germany - Market size and forecast 2023-2028 ($ million)
Exhibit 101: Chart on Germany - Year-over-year growth 2023-2028 (%)
Exhibit 102: Data Table on Germany - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
Exhibit 103: Market opportunity By Geographical Landscape ($ million)
Exhibit 104: Data Tables on Market opportunity By Geographical Landscape ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 105: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 107: Overview on factors of disruption
11.4 Industry risks
Exhibit 108: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 109: Vendors covered
12.2 Market positioning of vendors
Exhibit 110: Matrix on vendor position and classification
12.3 ARADEX AG
Exhibit 111: ARADEX AG - Overview
Exhibit 112: ARADEX AG - Product / Service
Exhibit 113: ARADEX AG - Key offerings
12.4 Canadian Electric Vehicles Ltd.
Exhibit 114: Canadian Electric Vehicles Ltd. - Overview
Exhibit 115: Canadian Electric Vehicles Ltd. - Product / Service
Exhibit 116: Canadian Electric Vehicles Ltd. - Key offerings
12.5 Enginer
Exhibit 117: Enginer - Overview
Exhibit 118: Enginer - Product / Service
Exhibit 119: Enginer - Key offerings
12.6 EV West
Exhibit 120: EV West - Overview
Exhibit 121: EV West - Product / Service
Exhibit 122: EV West - Key offerings
12.7 EVDrive
Exhibit 123: EVDrive - Overview
Exhibit 124: EVDrive - Product / Service
Exhibit 125: EVDrive - Key offerings
12.8 Flux Hybrids
Exhibit 126: Flux Hybrids - Overview
Exhibit 127: Flux Hybrids - Product / Service
Exhibit 128: Flux Hybrids - Key offerings
12.9 FOLKS MOTOR
Exhibit 129: FOLKS MOTOR - Overview
Exhibit 130: FOLKS MOTOR - Product / Service
Exhibit 131: FOLKS MOTOR - Key offerings
12.10 Green Shed Conversions
Exhibit 132: Green Shed Conversions - Overview
Exhibit 133: Green Shed Conversions - Product / Service
Exhibit 134: Green Shed Conversions - Key offerings
12.11 Hybrid Design Services
Exhibit 135: Hybrid Design Services - Overview
Exhibit 136: Hybrid Design Services - Product / Service
Exhibit 137: Hybrid Design Services - Key offerings
12.12 IX Energy Pvt Ltd.
Exhibit 138: IX Energy Pvt Ltd. - Overview
Exhibit 139: IX Energy Pvt Ltd. - Product / Service
Exhibit 140: IX Energy Pvt Ltd. - Key offerings
12.13 Odyne Systems LLC
Exhibit 141: Odyne Systems LLC - Overview
Exhibit 142: Odyne Systems LLC - Product / Service
Exhibit 143: Odyne Systems LLC - Key offerings
12.14 Oz DIY
Exhibit 144: Oz DIY - Overview
Exhibit 145: Oz DIY - Product / Service
Exhibit 146: Oz DIY - Key offerings
12.15 Stealth EV
Exhibit 147: Stealth EV - Overview
Exhibit 148: Stealth EV - Product / Service
Exhibit 149: Stealth EV - Key offerings
12.16 ThunderStruck Motors LLC
Exhibit 150: ThunderStruck Motors LLC - Overview
Exhibit 151: ThunderStruck Motors LLC - Key offerings
12.17 Wanxiang Group
Exhibit 152: Wanxiang Group - Overview
Exhibit 153: Wanxiang Group - Product / Service
Exhibit 154: Wanxiang Group - Key offerings

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 155: Inclusions checklist
Exhibit 156: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 157: Currency conversion rates for US$
13.4 Research methodology
Exhibit 158: Research methodology
Exhibit 159: Validation techniques employed for market sizing
Exhibit 160: Information sources
13.5 List of abbreviations
Exhibit 161: List of abbreviations