A hybrid electric vehicle (EV) conversion kit is a set of components and systems that are used to convert a traditional gasoline-powered vehicle into a hybrid EV. Hybrid EV conversion kits typically include an electric motor, a battery pack, a charging system, and a controller to manage the flow of electricity between the battery and the motor. 

Hybrid EV conversion kits allow users to convert their existing vehicles to electric power, which can provide a number of benefits, including reduced fuel costs, reduced emissions, and improved performance. Hybrid EV conversion kits can be used to convert a variety of vehicles, including cars, trucks, buses, and boats. 

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Hybrid EV conversion kit industry are becoming increasingly popular as more consumers look to upgrade their vehicles to electric power. These kits can be a cost-effective way to convert a traditional gasoline-powered vehicle to electric power, and can provide a number of benefits, including reduced fuel costs, reduced emissions, and improved performance.

According to a new report published by Allied Market Research, titled, “Hybrid EV Conversion Kit Market," The hybrid ev conversion kit market was valued at $0.5 billion in 2021, and is estimated to reach $2.6 billion by 2031, growing at a CAGR of 16.5% from 2022 to 2031.

The strict government standards and regulations regarding car emissions and the rise in fuel prices are the main factors influencing the growth of the global market for hybrid EV conversion kit market size. Additionally, a lacklustre charging infrastructure has an impact on the hybrid EV conversion kit market share. The hybrid EV conversion kit market growth is also influenced by technology developments related to hybrid EV conversion kits. However, it is projected that each of these variables will significantly affect the development of the hybrid EV conversion kit market trends during the course of the forecast period.

Hybrid EV Conversion Kit Market Report Highlights

AspectsDetails
Market Size By 2031USD 2.6 billion
Growth RateCAGR of 16.5%
Forecast period2021 - 2031
Report Pages149
Vehicle Class
  • Mid priced
  • Luxury
Application
  • Passenger Cars
  • Commercial Vehicles
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market PlayersIX Energy Pvt. Ltd., XL Fleet, Odyne Systems LLC, Stealth EV, Enginer, EVDrive, Altigreen Propulsion Labs Pvt. Ltd., Hybrid Design Services Inc., KPIT Technologies Ltd., A123 Systems LLC