The global alternative fuel and hybrid vehicle market size reached US$ 524 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3,356 Billion by 2028, exhibiting a growth rate (CAGR) of 35.7% during 2023-2028. More Info:- https://www.imarcgroup.com/alternative-fuel-hybrid-vehicle-market

1. Copyright © IMARC Service Pvt Ltd. All Rights Reserved
Global Alternative Fuel and
Hybrid Vehicle Market
Research and Forecast
Report 2023-2028
Author: Elena Anderson,
Marketing Manager |
IMARC Group
© 2019 IMARC All Rights Reserved

2. Report Description
About IMARC Group
The International Market Analysis Research and Consulting Group is a leading adviser on
management strategy and market research worldwide. We partner with clients in all sectors
and regions to identify their highest-value opportunities, address their most critical
challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological
developments for business leaders in pharmaceutical, industrial, and high technology
organizations. Market forecasts and industry analysis for biotechnology, advanced materials,
chemicals, food and beverage, travel and tourism, nanotechnology and novel processing
methods are at the top of the company’s expertise.
IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and
markets with close cooperation at all levels of the client organization. This ensures that our
clients achieve unmatchable competitive advantage, build more proficient organizations, and
secure lasting results.

3. Report Description
Report Description and Highlights
Global Alternative Fuel and Hybrid Vehicle Market Research Report:
The latest report by IMARC, titled “Alternative Fuel and Hybrid Vehicle Market: Global Industry
Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” " the global alternative fuel and
hybrid vehicle market size reached US$ 524 Billion in 2022.
Alternative fuel refers to any fuel that is not derived from petroleum or diesel, such as hydrogen,
biofuels and natural gas. It is a renewable source of energy and emits fewer pollutants, making it a
viable option for powering vehicles. On the other hand, a hybrid vehicle is a type of automobile that
uses two or more sources of power to propel the vehicle. The sources of power used are usually an
internal combustion engine and an electric motor.
As a result, alternative fuel and hybrid vehicles are gaining traction among the masses due to the rising
awareness regarding the environmental impact of traditional gasoline-powered vehicles. They offer a
cleaner and more efficient way of transportation, and with continual advancements in technology, they
are becoming more practical and affordable for everyday use.
Request Free Sample Report: https://www.imarcgroup.com/alternative-fuel-hybrid-vehicle-
market/requestsample

4. Report Description
Report Description and Highlights
Global Alternative Fuel and Hybrid Vehicle Market Trends:
The global market is primarily driven by an enhanced focus on sustainable development. Coupled with the growing
pollution level and changing climatic conditions, that has led to the rising demand for cleaner and more sustainable
transportation options, which is impacting the alternative fuel and hybrid vehicle market. Along with this, numerous
initiatives are undertaken by the governments to implement regulations and incentives, such as tax credits, subsidies,
and mandates, for automakers to produce more fuel-efficient vehicles and encourage the adoption of alternative
fuels and hybrid vehicles, further catalyzing the demand. Moreover, continual technological advancements have
made alternative fuels and hybrid vehicles easy to operate and affordable, making them more accessible to
consumers, which is acting as growth-inducing factors.
Furthermore, numerous companies are setting sustainability goals that include reducing their carbon footprint and
promoting environmental stewardship, thus encouraging them to adopt alternative fuels and hybrid vehicles for their
fleets, which is a major driving factor. Other factors, including rapid urbanization, fluctuations in the prices of oil,
rising investments in smart city developments and extensive research and development (R&D) activities, are also
positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a
value of US$ 3,356 Billion by 2028, exhibiting a CAGR of 35.7% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period
(2023-2028).

5. Report Description
Report Description and Highlights
Market Summary:
Fuel Type Insights:
• Hybrid Vehicles
• Plugin Hybrid Vehicles
• Battery Electric Vehicles
• Others
Vehicle Type Insights:
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
Vehicle Class Insights:
• Economical Vehicles
• Mid-priced Vehicles
• Luxury Vehicles
Regional Insights:
• North America

6. Report Description
Report Description and Highlights
• United States
• Canada
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil

7. Report Description
Report Description and Highlights
• Mexico
• Others
• Middle East and Africa

8. Competitive Landscape with Key Players:
• Bayerische Motoren Werke AG
• BYD Company Ltd.
• Ford Motor Company
• Mercedes-benz Group AG
• Mitsubishi Motors Corporation
• Tesla Inc.
• Toyota Motor Corporation
• Volkswagen AG
View Full Report with TOC & List of Figure: https://www.imarcgroup.com/alternative-fuel-hybrid-
vehicle-market
Report Description
Report Description and Highlights

9. A partial List of our Clients
We are the trusted business partners to the
world's leading corporates, governments, and
institutions
Partial List of Clients

10. A partial List of our Clients
We are the trusted business partners to the
world's leading corporates, governments, and
institutions
Partial List of Clients

11. Report Description
Report Description and Highlights
© 2019 IMARC All Rights Reserved
This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of
International Market Analysis Research and Consulting (IMARC). No part of this publication may be
reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be
used in any form or by and means graphic electronic or mechanical, including photocopying, recording,
taping or by information storage or retrieval, or by any other form, without the express consent of
International Market Analysis Research and Consulting (IMARC).
Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been
based on information and sources believed to be accurate and reliable at the time of publishing.
International Market Analysis Research and Consulting makes no representation of warranty of any kind as to
the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any
loss or damage resulting from opinion, errors or inaccuracies if any found this publication.
IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market
Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of
their respective companies.

12. FOR MORE DETAILS
Visit us at :
Stay With Us:
TELEPHONE: +1-631-791-1145
E-MAIL: sales@imarcgroup.com
https://www.imarcgroup.com
Contact Us