Global hybrid electric powertrain market was valued USD381 billion in 2019, and is projected to grow at a CAGR of over 9% during 2021-2026 on the back of rising urbanization and increasing demand for hybrid electric vehicles. Moreover, stringent government regulations and better fuel efficiency of hybrid vehicles are expected to aid global Hybrid Electric Powertrain market during forecast period. Powertrain assists in reducing vehicle emissions and fuel consumption, consequently driving the growth of global Hybrid Electric Powertrain market. However, high production cost associated with powertrain is expected to emerge as a major challenge for the market in coming years.
Global Hybrid Electric Powertrain market can be classified based on vehicle type and components. Based on the vehicle type, the market has been segmented into hybrid vehicles and plug-in hybrid vehicles. Hybrid vehicle segment is expected to witness extensive adoption during the forecast period, as it is cost efficient than plug-in hybrid vehicle.
In terms of regional analysis, the market can be segmented into North America, South America, Asia-Pacific, Middle East & Africa and Europe. Asia-Pacific Hybrid Electric Powertrain market is anticipated to grow at the highest rate during 2021-2026, with Japan leading the market due to increasing sales of hybrid vehicles and surging focus on the development of hybrid vehicle technology in the country. Another factor that is promoting the adoption of Hybrid Electric Powertrain in the region is government initiatives such as exemptions from road tax, free car parking and subsidies for the purchase of hybrid vehicles.
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Hybrid Electric Powertrain market can be segmented based on vehicle type, components and region. Based on vehicle type, the market can be categorized into plug-in hybrid vehicle and hybrid vehicle. Hybrid vehicles segment accounted for the largest market share in 2018 and is expected to maintain its leading market position in coming years as well, on the back of lack of proper charging infrastructure in most of the countries, as Hybrid vehicle charges the battery through automatic regenerative braking technology.
Few of the major players operating in the market include Toyota Motors, Honda Motor Company, Nissan Motor Co., Ltd., BYD Auto Co., Ltd., Kia Motors Corporation and Suzuki Motor Corporation, among others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Years considered for this report:
Historical Period: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
- To assess the demand-supply scenario of Hybrid Electric Powertrain, which covers production, demand and supply of Hybrid Electric Powertrain, globally.
- To analyze and forecast global Hybrid Electric Powertrain market size.
- To classify and forecast global Hybrid Electric Powertrain market based on vehicle type, components and regional distribution.
- To identify drivers and challenges for global Hybrid Electric Powertrain market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global Hybrid Electric Powertrain.
- To conduct the pricing analysis for Hybrid Electric Powertrain.
- To identify and analyze the profile of leading players involved in the manufacturing of Hybrid Electric Powertrain.
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To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of Hybrid Electric Powertrain players operating globally. Subsequently, TechSci Research conducted primary research surveys, which included primary calls and email responses, with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include Hybrid Electric Powertrain providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings and regional presence of all major Hybrid Electric Powertrain suppliers across the globe.
TechSci Research calculated global Hybrid Electric Powertrain market by using a bottom-up technique, wherein manufacturers’ volume sales data for different applications, were recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective service providers to arrive at the overall market size. Multiple secondary sources such as directories, company websites, company annual reports, white papers, investor presentations and financial reports were also studied by TechSci Research.
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Key Target Audience:
- Automotive OEMs
- Hybrid Electric Powertrain manufacturers, suppliers, distributors and other stakeholders
- Associations, organizations, forums and alliances related to Hybrid Electric Powertrain
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Hybrid Electric Powertrain providers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
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