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Mild Hybrid Electric Vehicle (MHEV) Market Share

Report ID: GMI8937
Published Date: Apr 2024
Report Format: PDF

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Mild Hybrid Electric Vehicle Market Share

Ford Motor Company and Toyota Motor Corporation held significant market share of around 15% market share in 2023. Ford Motor Company invests heavily in hybrid and electrified vehicle technology as part of its broader strategy to transition towards more sustainable transportation solutions. The company also focuses on expanding its hybrid lineup by introducing new models and variants across different vehicle segments.

Toyota is a pioneer in hybrid technology, with its renowned Toyota Hybrid System (THS) used in vehicles like the Toyota Prius and Toyota Camry Hybrid. The company focuses on continuous improvement and innovation to enhance the efficiency, reliability, and affordability of its mild hybrid vehicles.

Mild Hybrid Electric Vehicle Market Companies

Major companies operating in the MHEV industry are:

Ford Motor Company
General Motors
Honda Motor Company Ltd
Hyundai Motor Company
Kia Motors Corporation
Mitsubishi Motors Corporation
Nissan Motor Co. Ltd.
Suzuki Motor Corporation
Toyota Motor Corporation
Volkswagen AG

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of mild hybrid electric vehicle (MHEV) reached USD 103.5 billion in 2023 and is set to witness 17.5% CAGR between 2024 and 2032, fueled by the increasing number of product launches from leading companies.

The passenger cars segment accounted for revenue share of 85% in 2023, attributed to fuel efficiency, sustainability, and reduced emissions.

Asia Pacific market accounted for 48% share in 2023, owing to rapid urbanization, increasing disposable incomes, and growing environmental concerns.

Ford Motor Company, General Motors, Honda Motor Company Ltd, Hyundai Motor Company, Kia Motors Corporation, Mitsubishi Motors Corporation, Nissan Motor Co. Ltd., Suzuki Motor Corporation, Toyota Motor Corporation and Volkswagen AG.