Plug-in Hybrid Drivetrain (PHE) Market size was valued at USD 13.2 Billion in 2024 and is forecasted to grow at a CAGR of 12.3% from 2026 to 2033, reaching USD 36.5 Billion by 2033.
In 2022, the global plug in hybrid electric vehicle (PHEV) market experienced significant growth, with sales reaching approximately 2.8 million units, accounting for about 27% of all plug in electric vehicle sales worldwide. This represents a 46% increase compared to the previous year, indicating a robust upward trend in PHEV adoption. The Asia Pacific region dominated the market, with China leading the way by selling over 1.9 million PHEVs, reflecting a 70% year over year growth. citeturn0news22 Europe followed as the second largest market, with Germany, France, and the United Kingdom contributing significantly to the regions total PHEV sales of approximately 750,000 units. In North America, the United States reported sales of around 150,000 PHEVs, highlighting a growing interest in electrified transportation options. The increasing demand for PHEVs presents numerous opportunities across various regions. In the Asia Pacific, government incentives, advancements in battery technology, and the expansion of charging infrastructure are expected to further drive PHEV adoption. Europes stringent emission regulations and initiatives to reduce carbon footprints are encouraging consumers to opt for PHEVs, with sales surpassing 1.1 million units in 2020. In North America, collaborations among market players to raise awareness and improve infrastructure are anticipated to boost PHEV sales. Additionally, emerging markets such as India, Brazil, South Africa, Russia, and Mexico are poised to become potential growth areas for PHEVs, driven by increasing consumer awareness and supportive government policies.
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JATCO
ZF Friedrichshafen
Denso
BorgWarner
Obrist Powertrain
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Magna International
Delphi Automotive
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Plug-in Hybrid Drivetrain (PHE) Market
Passenger Vehicles
Commercial Vehicles
Two-Wheelers
Light-Duty Trucks
Below 10 kWh
10-20 kWh
Above 20 kWh
Gasoline-PHEV
Diesel-PHEV
Flexible Fuel-PHEV
Series Hybrid
Parallel Hybrid
Series-Parallel Hybrid
Below 100 hp
100-200 hp
Above 200 hp
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Plug-in Hybrid Drivetrain (PHE) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Plug-in Hybrid Drivetrain (PHE) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Plug-in Hybrid Drivetrain (PHE) Market, By Type
6. Global Plug-in Hybrid Drivetrain (PHE) Market, By Application
7. Global Plug-in Hybrid Drivetrain (PHE) Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Plug-in Hybrid Drivetrain (PHE) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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