The global electric vehicle (EV) market is poised for substantial expansion in 2025, with plug-in hybrid electric vehicles (PHEVs) emerging as a key driver of this growth. With the increasing demand for sustainable mobility, the PHEV segment is expected to certainly outpace BEVs in growth rate, signalling a key change in customer preferences and market dynamics.
Global EV Market
According to the Business Research Center of the Hyundai Motor Group, the global electric vehicle market, encompassing BEVs and PHEVs, is estimated to expand from 17.2 million units in 2024 to 20.7 million in 2025. This estimate points towards a considerable jump, propelled primarily by mindful advancements in hybrid technology and the widespread consumer wish for additional flexibility from electric vehicles.
While the BEV sector constitutes a significant share of the EV market, its year-on-year projected growth of 18.9 per cent will pale in comparison with PHEVs, which are predicted to see a 23.8 per cent rise in sales. PHEVs allow for the convenience of a conventional petrol engine and the characteristics of an electric drive, broadening their market appeal.
Why PHEVs Are Driving the EV Market Forward
PHEVs offer unique and practical benefits for environmentally conscious consumers. The dual powertrain makes long trips an option with no range anxiety, which potential purchasers of BEVs often raise. Beyond that, there are so many upcoming developments in PHEV technology that much has been contributed to developing technology that promotes fuel efficiency and reduced emissions, which falls under the umbrella of the sustainability goal, too. Government incentives for PHEVs concern the more significant economies that address adding more clean vehicles.
Subsidies, tax rebates, and other infrastructure assistance for charging stations will ensure that PHEVs remain an option, particularly for consumers who want to buy them.
The Future of EVs: PHEVs in the Spotlight
As the EV market evolves, PHEVs will likely play an essential role in bridging the gap between traditional internal combustion engines and fully electric powertrains. Because of their adaptability and broad appeal, they will be essential to a global plan to lower carbon emissions and advance sustainable mobility.
Yang Jin-soo, head of Hyundai’s mobility-industry research division, emphasised the relevance of this development, stating that PHEVs are expected to mitigate BEVs’ problems—limited charging infrastructure and higher upfront costs.
Accelerating Towards an Electric Future
The phasing in of plug-in hybrid electric vehicles (PHEVs) in 2025 signals a shift to the next level for the global EV market. By taking care of consumers’ practical worries and catering to sustainability aspirations, PHEVs will be the vanguard for global EV growth. This way forward for the world community toward a cleaner and greener future, such vehicles advance the cause for broader electric mobility.
