According to the business intelligence report titled ‘Global Hybrid Vehicle Market (Value, Volume) - Analysis By Degree of Hybridization (Mild, Micro, Full), Electric Powertrain, Vehicle Type, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global hybrid vehicle market is slated to amass strong returns by the end of 2026.

Burgeoning production of consumer electronics and automobile, preference for hybrid vehicles, coupled with stringent government regulations are propelling the global hybrid vehicle market growth.

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Moreover, increasing penetration of hybrid vehicles for commercial as well as passenger applications, burgeoning automation across manufacturing vertical, and technological advancements in the field are augmenting the industry outlook.   

Apart from growth drivers, the research report also sheds light on current and foreseeable challenges that may severely affect the growth trajectory of the industry, while also delivering precise solutions for the same to circumvent the impact.

The report categorizes the global hybrid vehicle industry on the basis of vehicle type (passenger vehicle, commercial vehicle), electric powertrain terrain (series, parallel), degree of hybridization (fully, mild, micro), and region (North America, Europe, Asia Pacific, Middle East & Africa).

Elaborating on degree of hybridization, the mild hybridization segment has witnessed a tremendous growth rate in recent years and is anticipated to continue this upward trend during the forecast period, attributable to higher density of OEMs and ODMs across industries.

With respect to electric powertrain, the parallel technology sub-segment is slated to earn a massive renumeration during the analysis period.

From a regional frame of reference, Asia Pacific hybrid vehicle market is reckoned to expand exponentially during the assessment timeline, owing to higher disposable income levels, widespread urban population, mounting manufacturing activities in countries like India China and Japan, and increasing focus on elimination of errors by industry players.

The competitive terrain of this business sphere is majorly influenced by key players such as Nissan Motor Co. Ltd., Honda Motor Company Ltd., Volkswagen Group, Volvo Cars, Hyundai Motor Company, Toyota Motor Corporation, Groupe Renault, Mercedes Benz Group AG, and BYD Co. Ltd.