Vehicles that run on both IC engines and electric batteries are called as hybrid vehicles. A major factor driving growth of the global hybrid vehicle market is increasing fuel prices across the globe. In addition, concerns over rising pollution level and stringent government vehicle emission norms are other factors fuelling growth of the global hybrid vehicles market. Major factors hampering growth of the global hybrid vehicles market are high price of hybrid vehicles and lack of proper charging infrastructure.

The global market is segmented on the basis of type, vehicle type, and region. On the basis of type, the global market is segmented into micro-hybrid, mild-hybrid, full-hybrid, and plug-in hybrid. The full-hybrid segment accounts for highest share in the global market and is expected to witness significant growth in terms of revenue over the forecast period.

On the basis of vehicle type, the global market is segmented into passenger cars and commercial cars. The passenger cars segment accounts for highest share in terms of revenue and is expected to witness highest growth over the forecast period.

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On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific accounts for significant share in the global market and is expected to witness highest growth in terms of revenue over the forecast period. This growth can be attributed to increasing adoption of hybrid vehicles in countries such as China, Japan, etc. in this region. The market in Europe accounts for considerable share in the global market and is expected to witness significant growth over the forecast period.

key player in the global hybrid markets include Toyota Motor Corporation, Ford Motor, Volvo Car Corporation, Continental AG, Daimler AG, Delphi Technologies, Infiniti, Tesla Inc., Mercedes-Benz, Kia Motor Corporation, and General Motors.