According to a recent report published by Allied Market Research, titled, “High-Voltage Hybrid Vehicle Market by Vehicle Type, Propulsion, and Voltage: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global high-voltage hybrid vehicle market was valued at $101.44 billion in 2020, and is projected to reach $484.81 billion by 2030, registering a CAGR of 20.7%.
Get Sample Report with Industry Insights @
Asia-Pacific dominates the market, in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the global High voltage hybrid vehicle market share in 2020, owing to the increase in R&D activities, technological developments by big players, and the rapid adoption of electrified vehicles. North America is expected to grow at a significant rate during the forecast period, owing to rise in investments and government policies for promoting low-carbon footprints across various countries in the region.
Factor such as government policies to promote the electrified vehicles is estimate to create lucrative growth opportunities for high-voltage hybrid vehicle. The passenger car segment is estimated to witness as a leading market share, owing to increase in inclination toward green mobility of the end consumers. Moreover, buses followed by trucks leads the market growth as majority of the commercial fleet operators are converting their existing conventional fleet to the electrified fleet. Moreover, Asia-Pacific is the market mover in the global high-voltage hybrid vehicle market in which China and India are expected to be the emerging countries in the global market.
To Get Discount, Make Purchase Inquiry @
The global high-voltage hybrid vehicle market is witnessed as a consolidated market as limited number of players are holding majority of the market share in the global market. Majority of the market participants are strategically involved in the product development activities and main focus of the market participants are shifting toward the vehicle electrification mainly.
By vehicle type, the market is categorized into passenger cars, buses, and trucks. Rise in demand for cost-effective mobility solution at commercial front is expected to result in a higher demand for trucks in the future.
Request for Customization of this Report @
COVID-19 Impact Analysis
The COVID impact on the high-voltage hybrid vehicle market is unpredictable and is expected to remain in force till the first to second quarter of 2021.
The COVID-19 outbreak forced the governments across the globe to implement strict lockdowns and made the social distancing mandatory to contain the spread of the virus. Consequently, several organizations started the work from home programs. This led to sudden fall in demand for high-voltage hybrid vehicle use across the world.
Moreover, the nationwide lockdown forced the high-voltage hybrid vehicle manufacturers to partially or completely shut their operations.
The adverse impacts of the COVID-19 pandemic have resulted in the delays in the activities and initiatives regarding the development of innovative high voltage hybrid vehicle products globally.
Buy now @
Key Findings Of The Study
By vehicle type, the trucks segment is expected to register significant growth during the forecast period.
By, propulsion, hybrid electric vehicle (HEV) segment is projected to lead the global market in terms of market share by the end of the forecast period.
By voltage, the Less than 340 Volts segment is projected to lead the global market, in terms of market share, by the end of the forecast period.
By region, Asia-pacific dominated the global high voltage hybrid vehicle market in 2020 in terms of market share. Moreover, North America is anticipated to lead the market growth.
Key players operating in the global high-voltage hybrid vehicle market include BMW Group, BYD Company Limited, Daimler AG, Ford Motor Company, Groupe Renault, Honda Motor Co., Ltd, Kia Corporation, Toyota Motor Corporation, Volkswagen AG, and Volvo Car Corporation
Similar Reports We Have:
Hydrogen vehicle Market by Vehicle Type (Commercial Vehicle and Passenger Vehicle) – Global Opportunities Analysis and Industry Forecast, 2017-2023
Self-Driving Car Market by Level of Automation (Level 1, Level 2, Level 3, Level 4, and Level 5), Vehicle Type (Internal Combustion Engine (ICE), Hybrid Electric Vehicle (HEV), and Battery Electric Vehicle (BEV)), and Components (Artificial Intelligence (AI), Light Detection & Ranging (LiDAR), Radio Detection and Ranging (Radar), Sound Navigation and Ranging (Sonar), and Global Positioning System (GPS)): Global Opportunity Analysis and Industry Forecast, 2020–2027
Vehicle Electrification Market by Product Type (Starter Motor, Alternator, Electric Car Motors, Electric Water Pumps, Electric Oil Pump, Electric Vacuum Pump, Electric Fuel Pump, Electric Power Steering, Actuators, and Start/Stop System), Sales Channel (Original Equipment manufacturers (OEMs) and Aftermarket), and Vehicle Type (Internal Combustion Engine Vehicle, Micro & Full Hybrid Vehicle, and Plug-in Hybrid Electric Vehicle (PHEV) & Battery Electric Vehicle (BEV)): GlobalOpportunity Analysis and Industry Forecast, 2020–2027
Vehicle Ignition Coil Market by Type (Compression Ignition, Spark Ignition, Battery, and Others), Vehicle type (Passenger Vehicle, Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV)), and Distribution Channel (OEMs and Third-Party): Global Opportunity Analysis and Industry Forecast, 2019–2026
Autonomous Vehicle Market by Level of Automation (Level 3, Level 4, and Level 5) and Component (Hardware, Software, and Service) and Application (Civil, Robo Taxi, Self-driving Bus, Ride Share, Self-driving Truck, and Ride Hail) – Global Opportunity Analysis and Industry Forecast, 2019-2026
Automotive Hypervisor Market by Type (Type 1 & Type 2), End User (Economy, Mid-Priced, and Luxury), Bus System (Can, Ethernet, FlexRay, and Lin), Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle), Level of Autonomous Driving (Autonomous and Semi-Autonomous), Product (Native (Bare-Metal) Hypervisors and Hosted Hypervisors), Sales Channel (Original Equipment Manufacturers (OEMs) and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021–2028
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.