Plug-in Hybrid Electric Vehicle Market Size The global plug-in hybrid electric vehicle (PHEV) market is witnessing robust growth. Valued at approximately US$ 102.26 billion in 2024, the market is projected to reach around US$ 258.22 billion by 2033, growing at a compound annual growth rate (CAGR) of 10.84% between 2025 and 2033. Key drivers include