Plug-in Hybrid Electric Vehicles - LATAM
LATAM- Revenue in the Plug-in Hybrid Electric Vehicles market is projected to reach US$16.9bn in 2024.
- Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.75%, resulting in a projected market volume of US$20.4bn by 2029.
- Plug-in Hybrid Electric Vehicles market unit sales are expected to reach 51.01k vehicles in 2029.
- The volume weighted average price of Plug-in Hybrid Electric Vehicles market in 2024 is expected to amount to US$386.3k.
- From an international perspective it is shown that the most revenue will be generated China (US$166bn in 2024).
- Key regions:
- China,
- Norway,
- United Kingdom,
- Netherlands,
- France
The combination of an electric motor with all electrical capabilities and a small onboard internal combustion engine (ICE) for extended-range capabilities is what makes up plug-in hybrid electric vehicles (PHEVs). Unlike hybrid electric vehicles (HEVs), PHEVs have a battery pack which is recharged by plugging into a standard electrical outlet. The battery pack serves as the primary source of power for relatively short distances (electric range). When this range is exceeded and the battery is depleted to a certain level, the vehicle switches to hybrid mode. In some models, this includes utilizing the energy re-captured from regenerative braking, turning off the electric motor, and allowing the ICE to take over completely. The unique advantage of plug-in hybrids is that they combine the environmentally beneficial operation of electric vehicles and the operational abilities of ICEs, as well as refueling, if necessary.
In-Scope
- Plug-in hybrid electric vehicles (PHEVs)
Out-Of-Scope
- Battery electric vehicles (BEVs)
- Fuel cell electric vehicles (FCEVs)
- Extended-range electric vehicles (E-REVs )
- Full hybrid electric vehicles (HEVs)
- Mild hybrid electric vehicles (MHEVs)
- Micro hybrid electric vehicles
