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Hybrid & Electric Vehicle Manufacturing in the US Industry Data and Analysis
Hybrid and electric vehicle manufacturers have soared through the current period as part of increased sustainability initiatives from the government and the public. Hybrid electric vehicles (HEV) and electric vehicles (EV), including plug-in electric vehicles (PEV) and plug-in hybrid electric vehicles (PHEV), have seen a dramatic rise in sales amid elevated oil and gas prices and falling vehicle prices. Automakers have prioritized cost reduction and battery lifespans to potentially attract new buyers. In particular, new government incentives and infrastructure funding have increased the domestic accessibility of electric and hybrid vehicles. Revenue has climbed at a CAGR of 18.2% to $119.9 billion through the current period, including a 0.6% jump in 2026, when profit reached 5.1%. Concerns over slowing EV adoption, especially given the latest administration's stance on EV spending and sales targets, alongside weak, unprofitable electrification pushes from Big 3 automakers, have significantly slowed revenue growth in 2025 and 2026. However, hybrid markets remain strong, propping up the industry.
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What's included in this industry analysis
IBISWorld's research coverage on the Hybrid & Electric Vehicle Manufacturing industry in the United States includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released February 2026.
About this industry
What's this industry report about?
The Hybrid & Electric Vehicle Manufacturing industry in the United States operates under the NAICS industry code OD4516. This industry primarily manufactures hybrid and electric automobiles that use one or more electric motors for propulsion. A hybrid electric vehicle (HEV) is a type of a vehicle that combines a conventional internal combustion engine (ICE) propulsion system with an electric propulsion system. The most common form of HEV is the hybrid electric car, though hybrid electric trucks (pickups and tractors) and SUVs also exist. Related terms covered in the Hybrid & Electric Vehicle Manufacturing industry in the United States include hybrid electric vehicle (hev), electric vehicle (ev), emerging economies, low-emission vehicles and evse.
What's included in this industry?
Products and services covered in Hybrid & Electric Vehicle Manufacturing industry in the United States include Hybrid electric vehicles, Electric vehicles and Plug-in electric vehicles.
What companies are included in this industry?
Companies covered in the Hybrid & Electric Vehicle Manufacturing industry in the United States include Tesla, Inc., Toyota Motor Corp and Ford Motor Co.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Hybrid & Electric Vehicle Manufacturing industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Hybrid & Electric Vehicle Manufacturing industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Hybrid & Electric Vehicle Manufacturing industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Hybrid & Electric Vehicle Manufacturing industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Hybrid & Electric Vehicle Manufacturing industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Hybrid & Electric Vehicle Manufacturing industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Hybrid & Electric Vehicle Manufacturing industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Hybrid & Electric Vehicle Manufacturing industry in the United States.
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Frequently Asked Questions
What is the market size of the Hybrid & Electric Vehicle Manufacturing industry in the United States in 2026?
The market size of the Hybrid & Electric Vehicle Manufacturing industry in the United States is $119.9bn in 2026.
How many businesses are there in the Hybrid & Electric Vehicle Manufacturing industry in the United States in 2026?
There are 148 businesses in the Hybrid & Electric Vehicle Manufacturing industry in the United States, which has declined at a CAGR of 1.5 % between 2021 and 2026.
How may import tariffs affect the Hybrid & Electric Vehicle Manufacturing industry in the United States?
The Hybrid & Electric Vehicle Manufacturing industry in the United States is likely to be significantly impacted by import tariffs with imports accounting for a high share of industry revenue.
How may export tariffs affect the Hybrid & Electric Vehicle Manufacturing industry in the United States?
The Hybrid & Electric Vehicle Manufacturing industry in the United States is likely to be impacted by export tariffs with exports accounting for a moderate share of industry revenue.
Has the Hybrid & Electric Vehicle Manufacturing industry in the United States grown or declined over the past 5 years?
The market size of the Hybrid & Electric Vehicle Manufacturing industry in the United States has been growing at a CAGR of 18.2 % between 2021 and 2026.
What is the forecast growth of the Hybrid & Electric Vehicle Manufacturing industry in the United States over the next 5 years?
Over the next five years, the Hybrid & Electric Vehicle Manufacturing industry in the United States is expected to grow.
What are the biggest companies in the Hybrid & Electric Vehicle Manufacturing industry in the United States?
The biggest companies operating in the Hybrid & Electric Vehicle Manufacturing industry in the United States are Tesla, Inc., Toyota Motor Corp and Ford Motor Co
What does the Hybrid & Electric Vehicle Manufacturing industry in the United States include?
Hybrid vehicle manufacturing and Electric vehicle manufacturing are part of the Hybrid & Electric Vehicle Manufacturing industry in the United States.
Which companies have the highest market share in the Hybrid & Electric Vehicle Manufacturing industry in the United States?
The company holding the most market share in the Hybrid & Electric Vehicle Manufacturing industry in the United States is Tesla, Inc..
How competitive is the Hybrid & Electric Vehicle Manufacturing industry in the United States?
The level of competition is very high and increasing in the Hybrid & Electric Vehicle Manufacturing industry in the United States.
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