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The hybrid vehicle market share is expected to reach an estimated USD 722.82 billion by 2026 at an accelerating CAGR of 26.37%. The hybrid vehicle market vendors are - Bayerische Motoren Werke AG, BYD Co. Ltd., Ford Motor Co., Honda Motor Co. Ltd., Hyundai Motor Co., Mercedes Benz Group AG, Mitsubishi Motors Corp., Nissan Motor Co. Ltd., Renault sas, Stellantis NV, Suzuki Motor Corp., Toyota Motor Corp., Volkswagen AG, and Volvo Car Corp. among others. Furthermore, this hybrid vehicle market research report extensively covers hybrid vehicle market segmentation by:
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42% of the market's growth will originate from APAC during the forecast period. Japan, South Korea, and China are the key markets for hybrid vehicles in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Significant infrastructure and industrialization developments have resulted in a significant demand for electric vehicles (EVs) in APAC. India, China, and Japan are predicted to account for the bulk of new vehicle purchases globally in the upcoming year. This will facilitate the hybrid vehicle market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, owing to the COVID-19 pandemic, the production of automobiles and related components was temporarily stopped or reduced to prevent community transmission through social gatherings. The reduced production by automobile component suppliers led to a supply-demand imbalance, which continued until the end of 2020. During the first half of 2021, with the gradual decrease in the number of COVID-19 cases and the lifting of nationwide lockdowns, factories and manufacturing units were reopened due to the initiation of the COVID-19 vaccination drive. The increase in the sales of passenger vehicles to avoid public transport will drive the market growth during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Vehicle Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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