PUBLISHER: MarketLine | PRODUCT CODE: 1520947
PUBLISHER: MarketLine | PRODUCT CODE: 1520947
Global Hybrid & Electric Cars industry profile provides top-line qualitative and quantitative summary information including: Market size (value and volume 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the Market.
The hybrid & electric cars market consists of the initial retail sale/registration of new electric and hybrid passenger cars. Passenger cars include saloons/sedans, hatchbacks, SUVs, 4x4s, and other related vehicles.
The market value is calculated at the retail selling price (RSP) and the market volume is given in terms of units sold.
The electric cars segment refers to all-electric vehicles only, namely Battery Electric Vehicles (BEVs).
The hybrid cars segment refers to all types of hybrid electric cars such as full-standard Hybrid Electric Vehicles (FHEVs), and mild and plug-in hybrid electric vehicles (MHEVs and PHEVs). The other alternative fuel vehicles (e.g., LPG, Hydrogen fuel cell, or 48vMEHVs) are not included.
All market data and forecasts are adjusted for inflation and all currency conversions used in the creation of this report have been calculated using yearly annual average exchange rates.
The global hybrid & electric cars market recorded revenues of $894,088.8 million in 2023, representing a compound annual growth rate (CAGR) of 38.2% between 2018 and 2023.
Market production volume increased with a CAGR of 34.8% between 2018 and 2023, to reach a total of 19,607,998 units in 2023.
In the global market, Asia-Pacific held the largest share of 52.8% followed by Europe at 28.5%, and North America at 14.8%nin 2023.