According to a recent study titled ‘Hybrid Drivetrain Market Size By Level, By Type, By Component, Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026’, available with Market Study Report, worldwide hybrid drivetrain market is projected to amass a valuation of USD 645 billion by the year 2026.
 

Rising carbon levels in tandem with growing concerns regarding environmental safety is the primary growth driver of global hybrid drivetrain market. In fact, an alarming increase to 408 ppm carbon dioxide molecules in the environment was observed in 2019 from 368 ppm in 1998, cites the American Meteorological Society.
 

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Besides, incentive programs by government and regulatory authorities to promote the adoption of hybrid vehicles serves as major growth impetus for the industry. For instance, in February 2019, Indian Government introduced a subsidy program worth USD 1.4 billion in a bid to incentivize sales of electric and hybrid vehicles in the nation.
 

On the basis of level, global hybrid drivetrain market from mild HEV segment will gain considerable traction during the forecast years. Mild HEVs feature an electric motor which provides mild levels of engine assistance for greater agility as compared full-combustion counterparts vehicles. Moreover, these vehicles enhance engine acceleration by utilizing recuperated electric energy. Hence, smoother and more refined driving experience of these vehicles contributes to the segment growth.
 

In terms of type, series-parallel segment is expected to contribute significantly to global hybrid drivetrain industry growth in the coming years, attributable to higher efficiency of this drivetrain in comparison to its series and parallel types.
 

Speaking of component, controller segment will witness an increased demand in the forthcoming years, owing to the vital use of the component in vehicle operations including proper coordination of power sources and temperature management of batteries and other parts.
 

On the geographical front, North America, Europe, Latin America, APAC, and MEA are the key contributors to global hybrid drivetrain market remuneration. Industry experts claim that Europe market is expected to showcase strong growth trends over the forecast timeline primarily due to new launches of hybrid electric vehicles in the region.
 

Companies that hold majority of global hybrid drivetrain market share are ZF Friedrichshafen AG, The Voith Group, Texas Instruments, Inc., Nanjing Punch Powertrain Co., Ltd., Obrist Powertrain GmbH, Magneti Marelli S.p.A., Magna International, Inc., Jatco Ltd., Hofer Powertrain, DENSO Corp., Continental AG, BorgWarner, Inc., BAE Systems plc, and Aisin Seiki Co., Ltd.