Market Statistics

Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: 160.2 Thousand Units
Market Forecast in 2033: 1,172.0 Thousand Units
Market Growth Rate: 23.51% (2025-2033)

According to the latest report by IMARC Group, the Mexico hybrid electric vehicle market size reached 160.2 thousand units in 2024. Looking ahead, IMARC Group expects it to reach 1,172.0 thousand units by 2033, exhibiting a CAGR of 23.51% from 2025 to 2033.

Mexico Hybrid Electric Vehicle Industry Trends and Drivers

The hybrid electric vehicle (HEV) market in Mexico is booming as governments promote incentives for clean transportation and environmental awareness is increasing. Plug-in hybrids and mild hybrids are gaining traction as they provide a compromise between fuel economy and increased range, especially for passenger cars, which comprise the vehicle type category. The transition to sustainable transport is aided by the growing charging infrastructure and favorable trade agreements that incentivize the import of advanced HEV components. In urban and highway driving, series and parallel HEV systems are favored for their reliability, and commercial vehicles are starting to adopt hybrids to save on costs. Electricity stored in the batteries and on-board generators are the main power sources, and battery technology is constantly improving and increasing energy yield.

Central Mexico has the highest regional penetration of HEVs, due to medium- to high- urbanization rates and more progressive policies compared to the rest of the region, followed by Northern Mexico's manufacturing nodes. One obstacle to HEVs is the high price, but declining battery prices and foreign investment are addressing some of these barriers. Overall, Mexico's strategic position in North American EV supply chains will increasingly position Mexico as a rising regional hub for hybrid vehicles in Latin America.

Download a Sample PDF of This Report: https://www.imarcgroup.com/report/es/mexico-hybrid-electric-vehicle-market/requestsample

Mexico Hybrid Electric Vehicle Market Segmentation

The market report offers a comprehensive analysis of the segments, highlighting those with the largest Mexico hybrid electric vehicle market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.

By Propulsion Type:

• Full Hybrids
• Mild Hybrids
• Plug-in Hybrids
• Others

By Configuration Type:

• Series HEV
• Parallel HEV
• Combined HEV

By Vehicle Type:

• Passenger Cars
• Commercial Vehicles
• Two-Wheeled Vehicles
• Others

By Energy Source:

• Stored Electricity
• On-Board Electric Generator

Regional Insights:

• Northern Mexico
• Central Mexico
• Southern Mexico
• Others

Request a Customized Report for Deeper Insights: https://www.imarcgroup.com/request?type=report&id=34916&flag=E

Competitive Landscape

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant. Additionally, the report features detailed profiles of all major companies in the Mexico hybrid electric vehicle industry.

Key Highlights of the Report

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current, and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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