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Base Year
Historical Year
Forecast Year
The United States hybrid market reached 1.35 million units in 2023. The market is expected to grow at a CAGR of 16.2% between 2024 and 2032, reaching 5.37 million units by 2032.
United States Hybrid Vehicle Market Report Summary | Description | Value |
Base Year | Million Unit | 2023 |
Historical Period | Million Unit | 2018-2023 |
Forecast Period | Million Unit | 2024-2032 |
Market Size 2023 | Million Unit | 1.35 |
Market Size 2032 | Million Unit | 5.37 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 16.2% |
CAGR 2024-2032 - Market by Region | Southwest | 17.0% |
CAGR 2024-2032 - Market by Powertrain Type | Parallel | 20.3% |
CAGR 2024-2032 - Market by Hybrid Type | Plug-in Hybrid | 17.8% |
The United States hybrid vehicle market has seen significant growth, particularly with the increase in parallel hybrid powertrains.
The parallel hybrid powertrain sector has expanded due to advancements in fuel efficiency and performance, technological progress, environmental concerns, regulatory shifts, and favourable economic factors. With a focus on sustainability and cost-effectiveness, there's a growing demand for parallel hybrid vehicles, indicating a shift towards greener transportation options.
In May 2024, the U.S. Department of Energy (DOE) distributed over $26.9 million to nine states, 27 local governments, and one Tribe for the next round of formula grants through the Energy Efficiency and Conservation Block Grant (EECBG) Program. These grants, funded by President Biden’s Bipartisan Infrastructure Law and managed by DOE’s Office of State and Community Energy Programs (SCEP), aim to support energy efficiency initiatives at the state and local levels.
Series-parallel hybrids merge the advantages of series and parallel configurations, resulting in enhanced fuel efficiency. These vehicles can seamlessly switch between or blend the two modes based on driving conditions, optimizing energy utilization. By enabling both the internal combustion engine and electric motor to propel the wheels, when necessary, this hybrid system enhances performance, delivering greater power and acceleration.
United States Hybrid Vehicle Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
CAGR 2024-2032 - Market by | Powertrain Type |
Parallel | 20.3% |
Series-Parallel | XX% |
Market Breakup by Electric Powertrain Type
CAGR 2024-2032 - Market by | Hybrid Type |
Plug-in Hybrid | 17.8% |
Micro Hybrid | XX% |
Mild Hybrid | XX% |
Full Hybrid | XX% |
Market Breakup by Hybrid Type
Market Breakup by Vehicle Type
CAGR 2024-2032 - Market by | Region |
Southwest | 17.0% |
Southeast | 16.7% |
New England | XX% |
Mideast | XX% |
Great Lakes | XX% |
Market Breakup by Region
Micro and mild hybrid technologies boost fuel efficiency by supporting the internal combustion engine with electric power during acceleration and employing regenerative braking to replenish the battery. This leads to decreased fuel usage, reduced emissions, and enhanced vehicle performance. Moreover, these hybrid options provide cost benefits and utilise regenerative braking to optimize fuel efficiency even further.
The company focuses on designing, producing, promoting, and maintaining a wide variety of vehicles, encompassing cars, trucks, SUVs, and electric vehicles, as well as automotive components and accessories.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Electric Powertrain Type |
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Breakup by Hybrid Type |
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Breakup by Vehicle Type |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*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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The market was valued at 1.35 million units in 2023.
The market is projected to grow at a CAGR of 16.2% between 2024 and 2032.
The market is expected to reach 5.37 million units in 2032.
The vehicle market is categorised according to the hybrid type, which includes micro hybrid, mild hybrid, and full hybrid.
The market key players are BMW AG, Subaru Corporation, Dr. Ing. h.c. F. Porsche AG Ford Motors Company, Mercedes Benz Group AG, Hyundai Motor Company, Kia Motors Corporation, Volvo AB, Honda Motor Co. Ltd Toyota Motor Corporation among others.
Based on the electric powertrain type the market is divided into parallel and series-parallel and others.
The market is broken down into the New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountains, and Far West and others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
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+91-858-608-1494
Philippines
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+63 287899028, +63 967 048 3306
United Kingdom
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+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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