Hybrid Drivetrain Market Size By Level (Mild HEV, Full HEV, PHEV), By Type (Series, Parallel, Series-parallel), By Component (HEV [Power Electronics, Battery, Electric Motor, Controller], PHEV [Power Electronics, Battery, Electric Motor, Controller]), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026

Published Date: Jan 2020  |  Report ID: GMI4495  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 255   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Hybrid Drivetrain Market size surpassed USD 77 billion in 2018 and will grow at a CAGR of 31.6% from 2019 to 2026. Increasing awareness pertaining to vehicular pollution will drive the market demand.
 

Drivetrain includes components that delivers power to the automobile wheels from battery and engine. The functioning of hybrid-electric vehicles is highly dependent upon the design and structure of the drivetrain. Further, mechanical efficiency of the vehicles, fuel consumption and vehicle cost are influenced by the drivetrain. The series, parallel and series-parallel are the major drivetrain installed in the hybrid and plug-in hybrid vehicles.
 

According to the United States Environmental Protection Agency (EPA), an average passenger vehicle releases approximately 4.6 tons of carbon dioxide per year. A full hybrid vehicle can reduce the CO2 emission by 20%- 30%. Therefore, government organizations are supporting the adoption of alternate energy vehicles to reduce vehicular emissions.
 

Hybrid Drivetrain Market

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Research, Development and Demonstration (RD&D) initiatives to address battery cost and resource-related problems will positively influence the hybrid drivetrain market growth. Battery cost reduction and performance improvement are significant to attract consumers. According to the International Energy Agency (IEA), the battery cost must be reduced from USD 500 – USD 800 per kilowatt-hour (KWH) to USD 300 – USD 400 pe kwh to achieve breakeven cost in comparison with the internal combustion engines.
 

Continuous government support for hybrid and zero emission vehicles is inducing significant growth potential to the industry landscape. Financial incentives such as tax exemptions and tax credits encourage the vehicle adoption by decreasing the upfront costs. In 2016, the Government of China introduced subsidy of up to USD 4,765 for each PHEV and up to USD 8,736 for each BEV. Further, the local governments are introducing subsidies, thereby, supporting the product demand.
 

Limited vehicle charging infrastructure will limit the hybrid drivetrain industry expansion over the forecast timeframe. Lack of charging stations in emerging economies is limiting the adoption of hybrid and electric vehicles. Further, the supply bottlenecks for lithium and rare earth metals require monitoring to establish secure supply chain and address resource requirement constraints.
 

Hybrid Drivetrain Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 77.03 Billion (USD)
Historical Data for: 2015 to 2018 Forecast Period: 2019 to 2026
Forecast Period 2019 to 2026 CAGR: 31.6% 2026 Value Projection: 648.08 Billion (USD)
Pages: 255 Tables, Charts & Figures: 216
Geographies covered (16): U.S., Canada, Germany, UK, France, Sweden, Norway, Netherlands, China, Japan, South Korea, Australia, Brazil, Mexico, Chile, South Africa
Segments covered: Level, Type, Component, Region
Companies covered (15): Aisin Seiki, BAE Systems, BorgWarner Inc, Continental AG, Delphi Automotive, Denso, Hofer Powertrain, JATCO Ltd., Magna International, Magneti Marelli S.p.A, Obrist Powertrain, Punch Powertrain Nanjing, Texas Instruments, The Voith Group, ZF Friedrichshafen
Growth Drivers:
  • Increasing financial incentive and spending for supporting infrastructure
  • Stringent emission regulations and initiatives to reduce carbon footprint
  • Presence of multiple automotive OEMs along with investments for technology advancements
  • Increasing requirement for clean mobility & transportation solutions
  • Presence of lithium reserves
  • High spending on prohibitive cost vehicles and government initiatives to decrease dependency on crude oil
Pitfalls & Challenges:
  • Lack of charging infrastructure
  • High battery cost and supply chain constraints

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Mild HEV to bank upon rising penetration in vehicle segments

Mild HEV will witness around 38% CAGR through 2026 on account of increasing penetration in multiple range of vehicles including sub-compact, compact, medium, large and premium cars. The vehicle manufacturers are installing electric components to enhance the carbon dioxide saving potential and decrease dependence on conventional fuel. For instance, in May 2019, Honda announced to launch mild-hybrid variant of new-generation Honda City in India by 2020. Increasing availability of the vehicle will enhance the hybrid drivetrain market size.
 

Plug-in hybrid electric vehicles hold a significant share with strengthening charging infrastructure across the globe. Government entities are taking initiative to expand the charging network in developed and emerging economies. According to the U.S. Department of Energy, in 2019, the country had over 20,000 charging stations, up from 18,000 in 2018. Further, industry players are undergoing strategic agreement for advanced charging technology. For instance, in February 2019, WiTricity signed technology licensing agreement with Yura for wireless charging facility in South Korea.
 

High power efficiency to enhance the series-parallel drivetrain installation

Series-parallel segment leads the hybrid drivetrain market owing to superior power output. The drivetrain enables the vehicle to be powered individually by the IC engine or by electric motor or by both working together. This enables the vehicle to run on optimum operating range. According to the International Council on Clean Transportation, in 2017, Toyota Prius holds major share in the hybrid vehicle industry. The vehicle works on the series-parallel or power split drivetrain design.
 

Parallel hybrid drivetrain will foresee significant traction over the study timeframe led by its ability to reduce vehicle weight. The vehicles have smaller battery pack and do not require separate generator that reduces overall drivetrain size. Further, the elimination of efficiency losses in the multiple power conversion process between the battery and electric motor will boost the segment penetration.
 

Reduction in battery cost to decrease vehicle ownership cost

U.S. Hybrid Drivetrain Market By Component

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Battery holds major share in the hybrid and plug-in hybrid electric vehicles. The improvement in performance and battery cost reductions is the major factor supporting the adoption of alternative powered vehicles. Reduction in battery cost are achievable with the improvement in chemistry and increase in production scale. Further, ongoing EV projects for battery and automotive controls will enhance the industry growth.
 

Asia Pacific to lead the hybrid drivetrain market size

Hybrid Drivetrain Market By Region

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Asia Pacific industry growth is attributed to increasing government initiatives and policies to reduce vehicular emissions. Higher pollution in countries including India and China is playing a major role in the adoption of hybrid vehicles. The improving living standards and disposable income are some of the major factors supporting the vehicle adoption. The expansion of charging infrastructure, improvements in electric vehicles, and enhancements in driving range will further support the regional growth.
 

Latin American market is at a nascent stage and will foresee steady growth owing to increasing demand for sustainable public transportation offering quieter operation and better acceleration. Growing prominence of industry players focusing on expanding their production facilities will further support the industry expansion.
 

New product development to emerge as a key strategy for industry players

Industry players are developing innovative products for high-performance vehicles to strengthen their industry foothold. In March 2017, Hofer Powertrain announced to develop advanced hybrid transmission to enhance the vehicle performance. The major hybrid drivetrain industry participants include Aisin Seiki, BAE Systems, BorgWarner Inc., Continental AG, Delphi Automotive, Denso, Hofer Powertrain, JATCO Ltd., Magna International, Obrist Powertrain, Punch Powertrain Nanjing, and ZF Friedrichshafen.
 

The hybrid drivetrain market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in units and revenue in USD million from 2015 to 2026, for the following segments:

By Level (Volume & Revenue)

  • Mild HEV
  • Full HEV
  • PHEV

By Type (Volume & Revenue)

  • Series
  • Parallel
  • Series-Parallel

By Component (Revenue)

  • HEV
    • Power Electronics
    • Battery
    • Electric Motor
    • Controller
  • PHEV
    • Power Electronics
    • Battery
    • Electric Motor
    • Controller LCV

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Sweden
    • Norway
    • Netherlands
  • Asia Pacific
    • China
    • Japan
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Chile
  • Middle East & Africa
    • South Africa
       

Frequently Asked Questions (FAQ) :

The APAC market growth is attributed to increasing government initiatives and policies to reduce vehicular emissions.
The major hybrid drivetrain industry participants include Aisin Seiki, BAE Systems, BorgWarner Inc., Continental AG, Delphi Automotive, Denso, Hofer Powertrain, JATCO Ltd., Magna International, Obrist Powertrain, Punch Powertrain Nanjing, and ZF Friedrichshafen.
The Mild HEV will witness around 38% CAGR through 2026 on account of increasing penetration in multiple range of vehicles including sub-compact, compact, medium, large and premium cars.

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Premium Report Details

  • Published Date: Jan 2020
  • Pages: 255
  • Tables: 205
  • Charts / Figures: 11
  • Companies covered: 15
  • Countries covered: 16

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