Full Hybrid Electric Vehicle Market Set to Reach USD 308.71 billion by 2030

According to Next Move Strategy Consulting, the global Full Hybrid Electric Vehicle Market size is predicted to reach USD 308.71 billion with a CAGR of 10.1% till 2030.

The cost of fuel is a significant factor in the cost of ownership of a vehicle, and as fuel prices rise, consumers are more likely to consider hybrid and electric vehicles as a cost-saving option, which in turn boosts the full hybrid electric vehicle market growth. Additionally, the rising consumer awareness of the environmental and economic benefits of hybrid and electric vehicles is further boosting the growth of the market.

However, the increasing demand for high-driving-range battery electric vehicles (BEVs) and fuel cell electric vehicles (FCEVs), known for noiseless operation, fast refueling, and zero-emission greenhouse gases, is restraining the growth of the market. 

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