Hybrid Drivetrain Market to 2027 - Business Growth Trends and Emerging Opportunities Analysis

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Hybrid Drivetrain Market by Current Trends and
Business Strategies Analysis by Leading Players
to 2027

• Growing need for sustainable development coupled
  with promising outlook for hybrid vehicles is
  expected to accelerate the adoption of hybrid
  drivetrain technologies over the upcoming years.
  Increasing emission of greenhouse gases from the
  transportation sector and severe environmental
  impact caused by the fossil fuel-powered vehicles
  has led to increased government interventions and
  initiatives to promote the adoption of hybrid
  vehicles. According to the Argonne National
  Laboratory statistics, Americans bought 75,959
  Hybrid-Electric Vehicles in March 2021, which is
  a new record-high.
• In light of these factors, hybrid drivetrain
  market is projected to observe a commendable
  growth by recording a valuation of more than USD
  385 billion by 2027, according to a recent report
  by Global Market Insights, Inc.

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• Elaborating on the government initiatives,
  various governing bodies around the globe are
  actively introducing major tax breaks and
  incentive programs aimed at promoting the
  adoption of sustainable transportation. In
  certain countries, like China and Norway, hybrid
  vehicles are liable to up to 20 credit of
  registration charges and other benefits such as
  exemption of toll tax and parking charges.

• Hybrid drivetrains are available in different
  types such as series, parallel and
  series-parallel. Of these, parallel hybrid
  drivetrain is in huge demand in which engine and
  electric motor works adjacently to generate power
  that drives the automobile. The system comprises
  of small battery packs and relies on the
  regenerative braking for recharging the systems.
  On account of the elevated product demand,
  parallel drivetrain segment had held a revenue
  share of 25 and is expected to grow
  significantly over the ensuing years.

• The product comes in various levels like mild
  HEV, full HEV and PHEV. Full HEVs are witnessing
  increased penetration. This can be ascribed to
  the technological advancements offering improved
  range capability and enhanced efficiency in
  synchronized propulsion systems resulting in
  considerable reduction in payback period of price
  premium. Besides, the system has larger batteries
  to meet higher energy requirements for extended
  range which in turn is fueling the product
  penetration. With this mounting demand, full HEV
  segment is estimated to observe a lucrative CAGR
  of 25 through 2027.

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• Regional Analysis

• In terms of regional outlook, Asia Pacific stands
  tall as a strong growth avenue for hybrid
  drivetrain market. In 2020, the regional hybrid
  drivetrain industry had accounted for a
  substantial share of over 60. This can be
  credited to enhanced economic scenario and
  rapidly increasing urbanization resulting in
  increased sales of personalized motor vehicles in
  the region. Various initiatives from the
  countries including China and India to curb the
  sales of fossil fuel vehicles and dramatic rise
  in the share of clean energy operated vehicles is
  complementing the industry expansion further.

• Competitive Analysis

• The global hybrid drivetrain market is dominated
  by leading firms such as BAE Systems, Aisin
  Seiki, Delphi Automotive, ZF Friedrichshafen,
  BorgWarner Inc., Continental AG, Hofer
  Powertrain, Denso, JATCO Ltd., Magna
  International, Obrist Powertrain, Punch
  Powertrain Nanjing.

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