From USD 46.0 billion in 2019, the global hybrid powertrain systems market is predicted to grow to USD 57.4 billion by 2027, registering a CAGR of 4.5% during the forecast period (2021–2027).
Increasing use of electronic components and rapid demand of hybrid vehicles are the key trends expected to enhance the growth of global hybrid powertrain systems market. Hybrid and electric vehicles are considered to be future of mobility. Moreover, electric drive systems aim at permitting green driving in cities and could be used for longer distances when required. The aim of electric vehicle is to fully utilize the remaining scope of reducing CO2 emissions.
During the forecast period, the mild hybrid vehicle classification is projected to witness the fastest hybrid powertrain systems market growth, on the basis of application
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On the basis of application, the global hybrid powertrain systems market is subdivided into mild hybrid vehicles, hybrid vehicles and plug-in hybrid vehicles. Amongst these segments, mild hybrid vehicle segment is expected to witness highest CAGR during the forecast period. The growth of this segment is attributed towards reduced consumption of fuel by using this vehicle.
Around the globe, North America was the largest hybrid powertrain systems market in 2019. Prevalence of key players in the region along with aim of these companies to enhance their solution offers and further provide improved powertrain systems to the end-users is another factor pertaining towards the growth of hybrid powertrain systems market in North America.
Asia-Pacific is expected to witness highest CAGR during the forecast period. The growth of this market in this region is attributed towards increasing sale of hybrid vehicles in China and increasing emphasis upon the development of hybrid vehicle technique in the region.
Some of the key players operating in the global hybrid powertrain systems market are Allison Transmission, Eaton, Delphi Automotive, Bosch, Magneti Marelli, BAE Systems, Graziano Oerlikon, Siemens, Nanjing Punch Powertrain, ZF Friedrichshafen, Vossloh, Continental, Jatco, Getrag, and Voith.
Global Hybrid Powertrain Systems Market Coverage
Product Type Insight and Forecast 2015 – 2027
Transmission
Engine
Electric Motor & Battery
Application Insight and Forecast 2015 – 2027
Mild Hybrid Vehicles
Hybrid Vehicles
Plug-In Hybrid Vehicles
Geographical Segmentation
Hybrid Powertrain Systems Market by Region
North America
By Product Type
By Application
By Country – U.S., Canada, and Mexico
Europe
By Product Type
By Application
By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe
Asia-Pacific (APAC)
By Product Type
By Application
By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific
Rest of the World (RoW)
By Product Type
By Application
By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
Source: VynZ Research
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