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Hybrid Drivetrain Market 2019 – 2026 : Share Forecasts, Regional Trends & Growth drivers

Author : Ronak Bora | Published Date : 2020-08-25 

Mounting environmental concerns worldwide have fueled the demand for alternate fuel driven cars over the past few years. This trend will undeniably play a major role in driving hybrid drivetrain market forecast in the near future. Hybrid vehicles require much less maintenance and offer enhanced fuel efficiency while minimizing the environmental impact.

Global Market Insights, Inc., forecasts that global hybrid drivetrain market size will be worth US$645 billion by 2026.

Rising carbon dioxide levels are adversely affecting the environment and deteriorating the atmospheric balance. According to American Meteorological Society, the amount of carbon dioxide molecules in the environment have increased drastically to 408 parts per million (ppm) in 2019, up from 368 ppm in 1998. These factors are encouraging more and more consumers to switch to cleaner and more eco-friendly vehicles.

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Government and regulatory authorities are taking active steps towards minimizing the carbon footprint. Introduction of favorable incentive programs to promote the adoption of hybrid vehicles has been one of the most effective strategies adopted by governments. For instance, the Indian Government in February 2019 announced a subsidy program worth US$1.4 billion with the aim to incentivize the sales of electric and hybrid vehicles in the country.

A strong focus on minimizing the environmental impact has also resulted in the development of advanced and more fuel-efficient hybrid drivetrains. Citing an instance, Japanese automaker Toyota had announced plans to develop the second hybrid transmission at its Walbrzych, Poland-based TMMP plant in July 2019. Hybrid cars offer several benefits such as lower carbon emissions and excellent fuel efficiency. This can be attributed to the fact that these vehicles rely on an alternate source of power in addition to a conventional source to generate momentum, which leads to reduced fuel consumption.

Based on component, controller segment is anticipated to witness robust demand in the near future. This can be linked with prominent use of the component in vehicle operation. The control module consist of a series of control points and sensor that help ensure proper coordination between the power sources. The system also helps ensure temperature management for batteries and other hybrid vehicle components, enabling a safe and optimized driving experience.

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On the basis of level, global hybrid drivetrain industry share is segmented into PHEV, mild HEV, and full HEV. Mild HEV segment will likely gain traction in the coming years on account of advantages such as smoother and more refined driving operation. The vehicles feature an electric motor which provides mild levels of engine assistance which enables the vehicle to achieve greater agility as opposed to full-combustion counterparts. In addition, these vehicles rely on recuperated electric energy which enhances the engine acceleration.

Hybrid drivetrain industry share is segmented into series, parallel, and series-parallel based on type. Series-parallel is likely to experience greater demand due to higher efficiency compared to series and parallel type hybrid drivetrains. The engine power is divided along two paths in which one goes through to the generator to generate electricity and the other through a mechanical gear system to generate momentum. These vehicles have the ability to fill engine torque gaps with maximum power, enabling maximum power utilization.

Europe hybrid drivetrain market is poised to record lucrative growth on account of increasing introduction of hybrid electric cars. For instance, BMW had announced plans to introduce a mild-hybrid option for 5 series cars in September 2019. The vehicle consists of a 48V starter-generator along with a secondary battery that boost the effectiveness of its regenerative braking system. In January 2020, disclosed plans to launch two plug-in hybrid vehicle models including the BMW X1 xDrive25e and BMW X2 xDrive25e.

ZF Friedrichshafen, Delphi Automotive, Magna International, Continental AG, Aisin Seiki, Denso, JATCO Ltd., BAE Systems, and Hofer Powertrain are some of the prominent manufacturers and suppliers influencing global hybrid drivetrain market trends. Industry participants are laser-focused on introducing innovative new products and components to boost the performance of hybrid vehicles.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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