Hybrid Drivetrain Market Is Expected to Exceed $385 Billion By 2027

As per the report by Global Market Insights, Inc. the Hybrid Drivetrain Market was valued at $80.7 billion in 2020 and will surpass a revenue collection of $385 billion by 2027 with an annual growth rate of 27.2% over 2021 to 2027.
Hybrid Drivetrain Market Is Expected to Exceed $385 Billion By 2027

Global hybrid drivetrain market growth is projected to take an upward trend by leveraging the increasing prominence of hybrid cars. These vehicles are gaining immense popularity owing to their extraordinary fuel efficiency, easier maintenance and lower environmental impact. These vehicles use an alternate power source together with traditional energy sources to generate a momentum which further reduces the fuel consumption.  

Advanced hybrid drivetrains are increasingly witnessing technological advancements which are further bolstering the overall market outlook. Taking July 2019 for instance, where Toyota reportedly announced the development of its second hybrid transmission at the TMMP plant located in Walbrzych, Poland.  

The world is currently observing a major issue of climate change and carbon emissions. Mounting carbon dioxide levels and decreasing atmospheric balance would further bolster the market outlook in the forthcoming timeframe.

As per the American Meteorological Society, carbon dioxide molecules have grown from 368 PPM (Parts Per Million) in 1998 to 408 PPM in 2019. This atmospheric degradation is pushing consumer inclination towards vehicles that are cleaner and more eco-friendly, so as to reduce the environmental impact.  

Moreover, several regulatory authorities are taking initiatives and launching new incentive programs to accelerate adoption of these vehicles. Citing an instance, in February 2019, the Government of India reportedly announced a $1.4 billion subsidy program to boost sales of hybrid and electric vehicles in the country.

Newly launched vehicles that incorporate the hybrid alternative are expected to foster the industry expansion in Europe. Citing an instance, German automaker, BMW, in September 2019 reportedly announced that it would start providing a mild-hybrid option for the BMW 5 series vehicles. These vehicles use a 48V starter-generator along with a secondary battery which accelerates the regenerative banking system’s effectiveness.

Recently, in January 2020, the company also announced the launch of its new plug-in hybrid vehicle models including the BMW X2 xDrive25e and BMW X1 xDrive25e.     

The mild HEV segment is anticipated to show the fastest growth as it offers various mechanical advantages. These vehicles contain electric motor that provides engine assistance of mild levels which offer a more refined and smoother driving operation.

They possess more agility when compared to their full combustion counterparts since they use recuperated electric energy that improves engine acceleration.

Mild HEVs are also observing heavy demand as they increase engine life by reducing mechanical stress and engine load, particularly in urban driving conditions.   

Based on type, the series-parallel hybrid drivetrain segment is poised to observe significant growth in the coming years. Series-parallel system are incredibly efficient since they divide the engine power in two paths, with one going to the generator for electricity production while other passes through a gear system to deliver momentum to the wheels.

The system is currently witnessing robust demand since it offers maximum power usage with the ability to fill engine torque gaps using electric power.    

Leveraging the three trends mentioned above, the hybrid drivetrain market is anticipated to impel its revenue growth over the forthcoming years.

The competitive landscape of global hybrid drivetrain market is inclusive of players like ZF Friedrichshafen, JATCO Ltd., Hofer Powertrain, Magna International, Denso, Continental AG, Delphi Automotive, BAE Systems, and Aisin Seiki among others.

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