The Asia Pacific is anticipated to register the fastest growth during the forecast period as this region is highly populated and the majority of people are in the middle-class category who are the owners of hybrid vehicles. Moreover, the mass adoption of hybrid vehicle technology in countries such as China and Japan will propel the market growth of the hybrid vehicle market. It is home to various industry players such as Toyota, Honda, Nissan, Hyundai, and Kia. Nevertheless, initiatives taken by the government of Asian countries in providing rebates and subsidies have boosted the growth of the hybrid vehicle market.