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Report Overview

The Asia Pacific hybrid vehicle market size is projected to grow at a CAGR of 10.90% between 2025 and 2034.

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

  • According to the Economy Diplomacy Division, India will become the third-largest automobile market in the world by 2026.

  • Data from the World Bank revealed GDP per capita of East Asia and the Pacific showed a rise of 34% between 2015 to 2022.

  • According to ITA, 97.8% of electric vehicles sold in Japan in 2020 were HEV followed by PHEV and BEV.

Compound Annual Growth Rate

Value in USD Million

10.9%

2025-2034


Asia Pacific Hybrid Vehicle Market Outlook

*this image is indicative*

Micro hybrid vehicle boosts the Asia Pacific hybrid vehicle market growth due to increasing fuel prices, stricter emissions regulations, and rising environmental awareness among youth.

Micro hybrid vehicles are well-known among the urban commuters who commutes on regular basis, as these vehicles promotes fuel savings and emission reduction with the use of electric motor. Usually, these are micro-vehicles with a limited range of 50–80 kmph and a top speed of less than 80 kmph.

In August 2023, Toyota Kirloskar Motor launched its luxurious self-charging hybrid electric four vehicle under the brand name “Vellfire” with a focus on comfort, and performance in the Indian automotive landscape. With the combination of both ICE and battery, they eliminate the range anxiety problem faced by users. Studies showed that SHEVs can run 40% of the distance and 60% of the time in electric mode, ensuring low fuel consumption and carbon footprints.

Full hybrid vehicles are packed with large motors and battery packs, allowing them to operate on short distances on electric power. Full hybrids can switch between electric motors and combustion engines or use both simultaneously depending upon the driving condition. With superior hybrid powertrain technology, they are becoming increasingly popular among environment-conscious commuters.

Market Segmentation

Asia Pacific Hybrid Vehicle Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Electric Powertrain Type:

  • Parallel
  • Series-Parallel

Market Breakup by Hybrid Type:

  • Micro Hybrid
  • Mild Hybrid
  • Full Hybrid
  • Plug-in Hybrid

Market Breakup by Vehicle Type:

  • Passenger Cars
  • Commercial Vehicles

Market Breakup by Region:

  • China
  • Japan
  • India 
  • ASEAN
  • Australia
  • Others

Competitive Landscape

The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and the latest developments like mergers and acquisitions, investments, and capacity expansion.

  • BMW AG
  • Ford Motors Company
  • Mercedes Benz Group AG
  • Hyundai Motor Company
  • Kia Motors Corporation
  • Toyota Motor Corporation
  • Volvo AB
  • Volkswagen AG
  • Honda Motor Co. Ltd.
  • Nissan Motor Co. Ltd.
  • Dr. Ing. h.c. F. Porsche AG
  • Others

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market is projected to grow at a CAGR of 10.90% between 2025 and 2034.

The hybrid vehicle market is categorised according to the hybrid type, which includes micro hybrid, mild hybrid, full hybrid and plug-in hybrid vehicles.

The key players in the markets are BMW AG, Ford Motors Company, Mercedes Benz Group AG, Hyundai Motor Company, Kia Motors Corporation, Toyota Motor Corporation, Volvo AB Volkswagen AG, Honda Motor Co. Ltd, Nissan Motor Co. Ltd and Dr. Ing. h.c. F. Porsche AG, among others.

Based on the vehicle type, the market is divided into passenger cars and commercial vehicles.

Based on the powertrain type, the market is divided into parallel and series-parallel configurations.

The market is broken down into China, Japan, India, ASEAN, and Australia.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2024
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Electric Powertrain Type
  • Hybrid Type
  • Vehicle Type
  • Region
Breakup by Electric Powertrain Type
  • Parallel
  • Series-Parallel
Breakup by Hybrid Type
  • Micro Hybrid
  • Mild Hybrid
  • Full Hybrid
  • Plug-in Hybrid
Breakup by Vehicle Type
  • Passenger Cars
  • Commercial Vehicles
Breakup by Region
  • China
  • Japan
  • India 
  • ASEAN
  • Australia
  • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • BMW AG
  • Ford Motors Company
  • Mercedes Benz Group AG
  • Hyundai Motor Company
  • Kia Motors Corporation
  • Toyota Motor Corporation
  • Volvo AB
  • Volkswagen AG
  • Honda Motor Co. Ltd.
  • Nissan Motor Co. Ltd.
  • Dr. Ing. h.c. F. Porsche AG
  • Others

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