PUBLISHER: MarketLine | PRODUCT CODE: 2094968
PUBLISHER: MarketLine | PRODUCT CODE: 2094968
Global Hybrid & Electric Cars industry profile provides top-line qualitative and quantitative summary information including: market share, Market size (value and volume , and forecast to 2030). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the Market.
The hybrid & electric cars market includes the initial retail sale/registration of new electric and hybrid passenger cars. Passenger cars include saloons/sedans, hatchbacks, SUVs, 4x4s, and other related vehicles. Market value is calculated at the retail selling price (RSP) and the market volume is given in terms of units sold.
Electric cars segment refers to all-electric vehicles only, namely Battery Electric Vehicles (BEVs). Hybrid cars segment refers to all types of hybrid electric cars such as full-standard Hybrid Electric Vehicles (FHEVs), and mild and plug-in hybrid electric vehicles (MHEVs and PHEVs). The other alternative fuel vehicles (e.g., LPG, Hydrogen fuel cell, or 48vMEHVs) are not included in our scope.
All market data and forecasts are based on nominal prices, and all currency conversions used in the creation of this report have been calculated using yearly average exchange rates. The USD values may show a declining trend for few countries such as Argentina, Turkey, Nigeria, Egypt, and Russia. This is primarily because of the impact of exchange rates considered.
The global hybrid & electric cars market recorded a value of $1,241,123.6 million in 2025, representing a compound annual growth rate (CAGR) of 33.7% between 2020 and 2025.
Market consumption volume increased with a CAGR of 35.5% between 2020 and 2025, reaching a total of 28,146,831.0 units in 2025.
In 2025, the global hybrid & electric car market value grew by 21.0% on an annual basis, driven primarily by the strategic implementation of pivotal international frameworks like the European Union's revised fleet emission targets and the US Inflation Reduction Act (IRA), which established clear decarbonisation baselines and unlocked key consumer tax credits.