Hybrid Drivetrain Market size worth over $385 Bn by 2027
Hybrid Drivetrain Market size is expected to exceed USD 385 billion by 2027, according to a new research study published by Global Market Insights, Inc.
SELBYVILLE, Del. - June 23, 2021 - (Newswire.com)
Global Market Insights Inc. has recently added a new report on the hybrid drivetrain market which estimates the market valuation for hybrid drivetrain will cross USD 385 billion by 2027. Hybrid drivetrain holds a promising outlook owing to the positive scenario in demand and sales of hybrid vehicles. Rising greenhouse gas emissions from the transportation sector, coupled with environmental damage done by fossil fuel-driven vehicles, have resulted in government interventions.
Hybrid drivetrain manufacturers are constantly improving in terms of weight reduction and applications in heavy commercial vehicles. One of the main components, the transmission, is also subjected to heavy investments in terms of research and development. To improve efficiency, the integration of circuits controllers and other components is increasingly being practiced by established manufacturers and suppliers. For instance, in December 2019, Vitesco announced a hybrid gearbox with integrated electric motors to simplify the gearbox and reduce costs, paving the way for affordable hybrid vehicles.
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The full HEVs are poised to grow at a 25% CAGR through 2027 in the hybrid drivetrain market. Advancements in technology offering increased range capability and improved efficiency in synchronized propulsion systems have resulted in a significant reduction in the payback period of price premiums paid by the consumers. The system also has larger batteries to incorporate greater energy requirements for an extended range.
The Asia Pacific captured more than 60% of the hybrid drivetrain market share in 2020. Improvement in the economic scenario, coupled with fast-paced urbanization, has resulted in an increasing number of personalized motor vehicle sales. Several initiatives from countries, such as China and India, have been put in place to curb the sale of fossil fuel vehicles and saw a dramatic increase in the share for clean energy-operated vehicles.
The prominent market participants in the hybrid drivetrain market are significantly investing in R&D for product development. For instance, in April 2019, Denso announced an investment of USD 1.6 billion to strengthen its portfolio of automotive electrification products and systems for hybrid and electric vehicles.
Some major findings of the hybrid drivetrain market report include:
- Government organizations across the globe are actively introducing large tax breaks and incentive programs for the adoption of sustainable transport solutions. Both developed and developing economies are actively taking part in these policies to curb environmental pollution. In some countries, such as Norway and China, hybrid vehicles are subject to up to 20% credit of registration levies and provide other benefits ranging from toll tax to parking charge exceptions.
- The parallel drivetrain currently holds the second largest market share in terms of revenue, representing 25% of the hybrid drivetrain market. In a parallel drivetrain, the engine and electric motor work in tandem to generate power that drives the vehicle. The system houses smaller battery packs and relies on regenerative braking to recharge the systems.
- The ongoing COVID-19 pandemic has affected global hybrid vehicle production owing to severe lockdown by various government authorities worldwide. Moreover, the average shutdown duration of hybrid drivetrain components manufacturing facilities worldwide is around 20-30 working days, which has substantially affected the value chain of the hybrid drivetrain industry.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Global Hybrid Drivetrain Industry 360° Synopsis, 2017 - 2027
2.1.1 Business Trends
2.1.2 Level Trends
2.1.3 Type Trends
2.1.4 Components Trends
2.1.5 Regional Trends
Chapter 3 Global Hybrid Drivetrain Industry Insights
3.1 Industry Segmentation
3.2 Industry Ecosystem Analysis
3.2.1 Component Supplier
3.2.2 Manufacturer
3.2.3 Profit Margin Analysis
3.2.4 Distribution Channel Analysis
3.2.5 Vendor Matrix
3.3 Technology Landscape
3.4 Battery Analysis
3.4.1 Performance Analysis
3.4.2 Battery Cost Structure
3.4.3 Type & Weight
3.4.4 Recycling Of Battery
3.4.5 Potential Environmental Impacts
3.5 Vehicle Charging Infrastructure
3.6 Influence Of Hev & Phev On Ice
3.7 Performance Analysis Of Hev & Phev
3.8 Pricing Analysis (Including Covid-19 Impact)
3.8.1 Regional Price Trends
3.9 Cost Structure Analysis
3.10 Regulatory Landscape
3.10.1 North America
3.10.2 Europe
3.10.3 Asia Pacific
3.10.4 Latin America
3.10.5 Mea
3.11 Industry Impact Forces
3.11.1 Growth Drivers
3.11.1.1 Global
3.11.1.1.1 Increasing Financial Incentive And Spending For Supporting Infrastructure
3.11.1.2 North America
3.11.1.2.1 Stringent Emission Regulations And Initiatives To Reduce Carbon Footprint
3.11.1.3 Europe
3.11.1.3.1 Presence Of Multiple Automotive OEMs Along With Investments For Technology Advancements
3.11.1.4 Asia Pacific
3.11.1.4.1 Increasing Requirement For Clean Mobility & Transportation Solutions
3.11.1.5 Latin America
3.11.1.5.1 Presence Of Lithium Reserves
3.11.1.6 Mea
3.11.1.6.1 High Spending On Prohibitive Cost Vehicles And Government Initiatives To Decrease Dependency On Crude Oil
3.11.2 Industry Pitfalls & Challenges
3.11.2.1 Lack Of Charging Infrastructure
3.11.2.2 High Battery Cost And Supply Chain Constraints
3.12 Innovation & Sustainability
3.13 Growth Potential Analysis, 2020
3.14 Porter's Analysis
3.15 Competitive Landscape
3.15.1 Top Player's Analysis, 2020
3.15.2 Strategy Dashboard
3.16 Pestle Analysis
3.17 Covid-19 Impact On Automotive Industry
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Original Source: Hybrid Drivetrain Market Revenue to Hit US $385 Bn by 2027; Global Market Insights, Inc.
