June 02, 2020
As per the report 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 LLC, global hybrid drivetrain market is estimated to amass USD 645 billion by the year 2026.
Global hybrid drivetrain market is primarily driven by rising environmental concerns across the globe. According to American Meteorological Society, carbon dioxide concentration in the environment has drastically increased from 368 ppm in 1998 to 408 ppm in 2019, urging consumers to switch to cleaner and eco-friendly vehicles. Hybrid automotive which are powered by alternate fuel offer benefits such as low maintenance and enhanced fuel efficiency with reduced emissions, in turn encouraging the product adoption.
Increasing initiatives by government and regulatory authorities towards curbing carbon emissions will play a key role in driving the sales of hybrid vehicles. For instance, in February 2019, the Indian Government announced a subsidy program worth USD 1.4 billion aimed towards incentivizing the sales of electric and hybrid vehicles in the country.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2483998/
Moreover, growing focus among major manufacturers towards innovations in fuel-efficient hybrid drivetrain technology is expected to boost the market growth in the coming years. Citing an instance, in July 2019, Japanese automaker Toyota declared its plans for developing a second hybrid transmission at its Walbrzych manufacturing plant in Poland.
Based on the type terrain, series-parallel segment is expected to experience a higher demand over the forecast duration, owing to superior efficiency as compared to its counterparts. Vehicles with a series-parallel drive train possess the ability to fill torque gaps in the engine with maximum power, enabling max power utilization.
In terms of level, mild HEV segment is slated to see modest gains in the forthcoming years, on account of advantages such as smoother and improved driving operations. Mild HEVs comprise of an electric motor that provides mild assistance to the engine, enabling the vehicle to attain greater agility as compared to vehicles with full-combustion engines. Moreover, these vehicles rely on recuperated electric energy reclaimed from vehicle heat which amplifies engine acceleration.
Elaborating on the component scope, controller segment is reckoned to observe significant gains over 2019-2026, owing to its inherent applicability in vehicle operations. Control modules comprise of an array of control points and sensors that ensure proper coordination between the power sources. These systems also manage temperature of batteries and other HV components to provide a safe and optimal driving experience.
Considering the regional outlook, hybrid drivetrain market in Europe is expected to witness a robust growth through 2026, owing to rising penetration of hybrid electric cars in the region. For instance, in September 2019, BMW had announced its plan for unveiling mild-hybrid option for 5 series cars in the European market. In the following year, the company disclosed its plans to launch two plug-in hybrid vehicle models, namely BMW X1 xDrive25e and BMW X2 xDrive25e.
Key players operating in global hybrid drivetrain market are BAE Systems, Continental AG, BorgWarner Inc., Delphi Automotive, Hofer Powertrain, JATCO Ltd., Magneti Marelli S.p.A, Aisin Seiki, Magna International, Obrist Powertrain, Denso, Punch Powertrain Nanjing, ZF Friedrichshafen, Texas Instruments, and The Voith Group.