Global Hybrid Drive Train Market Size (By Level: Mild HEV, Full HEV, and PHEV; By Type: Series, Parallel, and Series-Parallel; and By Component: HEV and PHEV) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2022 - 2030
The global market for hybrid drive train accounted for US$ 73 Bn in 2021 and is anticipated to reach US$ 660 Bn by 2030 with a CAGR of 28% from 2022 to 2030.
For hybrid automobiles, hybrid vehicle drivetrains distribute power to the driving wheels. A hybrid vehicle is propelled by a variety of sources of energy. Hybrids can be built in a variety of ways. A hybrid vehicle, for example, might get its energy from gasoline but alternate between an electric motor and a combustion engine. Traditional powertrain components, such as an internal combustion engine and transmission, are combined with modern electrical components, such as power electronics, an electric motor, and high voltage energy storage, for example a battery, in hybrid vehicle powertrain systems. The drivetrain is a set of components that pass on power from the vehicle's engine or motor to the wheels. Transmissions, differentials, driveshafts, wheels, axles, and other components are incorporated. It's also the part of a car that connects the engine, transmission, and wheels to the axles.
By leveraging the growing popularity of hybrid cars, the global hybrid drivetrain industry is expected to rise at a rapid pace. These vehicles are becoming increasingly popular as a result of their exceptional fuel efficiency, ease of maintenance, and reduced environmental effect. These vehicles combine an alternative power source with standard energy sources to generate momentum, lowering fuel usage even more. The market is expected to grow at a faster rate in the next years, thanks to the rising demand and production of electric vehicles, as well as increased research and development of powertrain batteries among manufacturers.
The hybrid drivetrain business is expected to benefit from the implementation of incentives, tax rebates, and customs duty exemptions for electric and hybrid electric vehicles. However, a shortage of electric car charging stations and infrastructure may stifle the growth of the EV and HEV sectors, limiting the hybrid drivetrain industry's expansion.
Carbon dioxide levels in the atmosphere are rising at an alarming rate, causing an imbalance in the environment. According to the American Meteorological Society, the quantity of carbon dioxide molecules has increased from 368 Parts Per Million (PPM) in 1998 to 408 PPM in 2019. People have begun to drive eco-friendly vehicles in order to reduce their environmental impact, resulting in a considerable increase in hybrid drivetrain market share. Governments all over the world are implementing incentive programs to encourage the adoption of clean vehicles in order to reduce pollution. In February 2019, the Indian government announced a $1.4 billion subsidy program to boost the use of electric and hybrid automobiles.
Furthermore, increased consumer spending power, particularly in developing nations, as well as the electrification of drivetrain components, is expected to propel the industry forward. According to Ameco Research, the global hybrid drive train drivetrain market would increase at a moderate pace over the next five years.
Level, type, component, and region are the four categories of the global hybrid drive train industry. Mild HEV, full HEV, and PHEV are several types of level segments. During the forecast period 2022– 2030, the PHEV segment is likely to attain a significant market share.
The type sector is sub-segmented into parallel, series, and series-parallel. Based on components, the segmentation includes HEV and PHEV. PHEVs use batteries to power an electric motor and another fuel, such as diesel or gasoline, to power an internal combustion engine or additional propulsion source. PHEVs use regenerative braking and charging equipment to recharge their batteries. When compared to traditional automobiles, using electricity from the grid to power the vehicle for part or all of the time lowers operating expenses and reduces fuel use. PHEVs may also emit fewer pollutants, depending on the type of power used and how often the vehicle is driven in all-electric mode.
Global Hybrid Drive Train Market Geographical Competition
North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa are the segmentation of the worldwide Hybrid Drive Train industry. Asia-Pacific took the lead among all regions in 2021, and this trend is expected to continue through the projected period of 2022 to 2030. Chinese government's financial and non-financial incentives, which have propelled China to the forefront of the electric vehicle (EV) market, are the primary factor propelling the regional growth. However, the European region is expected to attain the fastest CAGR throughout the forecast period 2022 – 2030.
Global Hybrid Drive Train Industry Segment Analysis
Market By Level
· Full HEV
· Mild HEV
Market By Type
Market By Component
Hybrid Drive Train Market Leading Companies
This section of the study honors the market's top vendors. Aisin Corporation, BAE Systems plc, BorgWarner Inc., Continental AG, Delphi, Denso Corporation, Hofer Powertrain, JATCO Ltd, Magna International Inc., OBRIST Group, PUNCH POWERTRAIN NV, and ZF Friedrichshafen AG (ZF Group) are the key companies mentioned in the research.
Hybrid Drive Train Market Regions
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa