Global Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market size was valued US$ XX Mn. in 2019 and the total revenue is expected to grow about 13% from 2020 to 2027, reaching nearly US$ XX Mn.
Global Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market
Global Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market: Overview
Plug-in Hybrid Electric vehicle use motor along with engine which is used in Internal Combustion engine. Plug-in Hybrid vehicle is eco-friendly and runs on electrical power which is stored in battery to assist engine run vehicle. Plug-in Hybrid vehicle depends on battery capacity. These vehicles can drive over extended distance.
Global Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market: Key Players
Toyota Motors launched plug in hybrid electric vehicle in passenger vehicle segment. The vehicle named Corolla and Levin which are launched in 2019. These vehicles have hybrid engine which will drive with the assist of electric motor. Toyota is also interested to invest in China for production of battery and inverter.
US car manufacturer Tesla is the foremost manufacturer in electric vehicle and green energy. Tesla manufactures plug in hybrid electric vehicle as well as fully electric vehicle.
Germany vehicle manufacturer BMW operates two segments of vehicle, automotive and motorbike. BMW has Plug in hybrid vehicle line up as X5, 330e, 530e and Mini Countryman that will be targeted to hit the road by the end of 2025.
Global Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market: Regional Overview
Asia Pacific Region shows major market for Plug in Hybrid Electric Vehicle. PHEV forecasted to show growth owing to the countries like Japan and China. India and South Korea are also taking initiatives to implement rules to reduce greenhouse gas emissions and these will surge the growth of plug in hybrid electric vehicle, which in result increases sale of solar module. To improve the use of renewable energy, government is also taking initiative by reducing taxes on this type of vehicles and on manufacturing industries working in this sector got tax relaxations as well. Owing to this factor, the Asia Pacific region segment is forecasted to be a major market for Automotive Plug-in Hybrid Electric Vehicle (PHEV).
Europe is expected to be fastest growing region for market of plug in hybrid vehicle in forecasted period. Europe has rigid infrastructure for electric vehicle and hybrid vehicle technology also getting popular. Middle East and Africa will be least growing market for Plug in hybrid electrical vehicle.
The MMR report will provide an accurate prediction of the contribution of the various segments to the growth of the Automotive Plug-in Hybrid Electric Vehicle (PHEV) market size. By end user, the Passenger Vehicle segment was valued at US$ XX Mn in 2020 and is expected to reach US$ XX Mn by 2027 at a CAGR of XX% during the forecast period.
The report also helps in understanding Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market dynamics, structure by analyzing the market segments and projects the Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market make the report investor’s guide.
Scope of the Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market
Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market, by Product Type
• Series
• Parallel
• Series-Parallel
Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market, by End User
• Passenger Vehicles
• Commercial Vehicles
Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market, by Battery Type
• Lithium-ion
• Lead-Acid
• Lead carbon
Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market, by Region
• Asia Pacific
• North America
• Europe
• South America
• Middle East & Africa
Key players operating in Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market
• Volkswagen
• Toyota
• Ford
• Mahindra
• Nissan
• GM
• Sono Motors
• Cruise Car
• Solar Electric Vehicle Company
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