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Base Year
Historical Year
Forecast Year
The Australia hybrid vehicle market size attained 101.43 thousand units in 2023. The market is further projected to grow at a CAGR of 15.8% between 2024 and 2032, attaining 389.84 thousand units by 2032.
One significant market driver is the enactment of stringent emission and fuel economy norms, encouraging the adoption of hybrid vehicles as a more environmentally friendly transportation option. For instance, the fuel efficiency standard set to launch in January 2025 will outline how much carbon dioxide a car can produce. By 2034, this initiative can help reduce the country's vehicle carbon emissions by over 10 million tonnes.
Additionally, the appeal of hybrid vehicles to a broader audience due to their combination of reliability, long-range drivability, and better fuel economy compared to traditional petrol and diesel vehicles contributes to the market's expansion. The increasing availability of hybrid models from key OEMs and the preference of consumers for fully hybrid or mild hybrid vehicles further boost the Australia hybrid vehicle market growth.
Meanwhile, the focus of key players in the Australian hybrid vehicle market is on developing more of charging infrastructure, offering incentives to spur EV purchases, and working towards accelerating the growth of the EV market in Australia through national policies and regulations. vehicle market growth. As per industry reports, in June 2022, there were 3,669 public chargers across 2,147 electric vehicle charging locations in the country.
Fully hybrid vehicles, combining an internal combustion engine with a larger electric motor for significant electrification benefits, hold a significant Australia hybrid vehicle market share. These vehicles offer substantial fuel efficiency gains, reduced emissions, and the ability to operate in electric mode for extended periods.
Plug-in hybrid vehicles, on the other hand offer the flexibility of electric propulsion while providing the convenience of a combustion engine for longer trips. As per Federal Chamber of Automotive Industries (FCAI), conventional hybrid electric vehicle sales comprised 7.6% of the total automotive market as of August 2022, while plug-in hybrids made up 0.6%.
Australia Hybrid Vehicle Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments
Market Breakup by Vehicle Type
Market Breakup by Electric Powertrain Type
Market Breakup by Component
Market Breakup by Hybridisation
Market Breakup by Propulsion
Market Breakup by Region
Market players are focused on expanding the range of available hybrid models, and addressing supply chain challenges to meet the rising demand for hybrid vehicles.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Vehicle Type |
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Breakup by Electric Powertrain Type |
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Breakup by Component |
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Breakup by Hybridisation |
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Breakup by Propulsion |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!
In 2023, the hybrid vehicle market in Australia attained 101.43 thousand units.
The market is expected to grow at a CAGR of 15.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to attain 389.84 thousand units by 2032.
The market is being driven due to increasing demand for environmentally friendly transportation options, government regulations promoting the adoption of hybrid vehicles, and the availability of a wide range of hybrid vehicles from various manufacturers.
Key trends aiding the market expansion include the growing investments in developing charging infrastructure across the country, preference for fully hybrid or mild hybrid vehicles among consumers, and enactment of stringent emission and fuel economy regulations.
Regions considered in the market are New South Wales, Victoria, Queensland, Western Australia, and Australian Capital Territory, among others.
Based on hybridisation, the market segmentations include plug-in hybrid, mild hybrid, and fully hybrid.
In terms of electric powertrain type, the market comprises series hybrid, parallel hybrid, and power split hybrid.
Key players in this market include Honda Motor Co., Ltd., Mercedes-Benz Group AG, Toyota Motor Corporation, Ford Motor Company, and Hyundai Motor Company, among others.
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