Hybrid System Market Projected to Grow at a CAGR of 10.79% from 2017-2022

A new report from French technology firm Report Linker states the hybrid system market is projected to reach a market size of $40.99 billion by 2022. 
Hybrid System Market Projected to Grow at a CAGR of 10.79% from 2017-2022

Increasing fuel prices and tightening of emission laws are driving the demand for hybrid and electric vehicles across the globe.

The demand for micro- and mild-hybrid vehicles is increasing. These vehicles have been shown to improve fuel economy significantly. For instance, micro hybrids with start-stop functionality reduce fuel consumption by 2–5% compared with ICE vehicle without start-stop, according to Natural Resource Canada (NRCan).

Vehicles with 48V architecture called "mild hybrids" help in reducing fuel consumption by 8–15%. Full hybrid vehicles working on higher voltages reduce fuel consumption by 20–50%, and plug-in hybrid vehicles provide 40–80% reduction in fuel consumption, according to the report.

Automotive manufacturers have started moving towards the manufacture of mild hybrid vehicles as the cost of converting conventional vehicles to full or plug-in hybrids is very high. Additionally, building battery charging infrastructure is expensive. Most of the benefits of hybrid or plug-in hybrid vehicles can be achieved by 48V mild hybrid vehicles at a fraction of the cost.

According to the study, Asia Pacific is estimated to be the largest hybrid system market owing to the increasing electric vehicle sales in countries such as China and Japan. The vehicle sales in China and Japan are expected to increase from 0.49 million units and 1.09 million units in 2016 to 2.17 million units and 2.1 million units in 2022, respectively.

The study contains insights provided by various industry experts, ranging from hybrid system component suppliers to hybrid system suppliers and OEMs. The break-up of the primaries is as follows:
• By Company Type: OEM - 33%, Tier 1 - 55%, and Tier 2 (Battery Manufacturers) - 17%
• By Designation: D level - 17%, C level - 50%, and Others (Product Specialist)-33%
• By Region: Europe -17%, Asia Pacific - 33%, and North America - 50%
The report provides detailed profiles of major companies in the hybrid system market, including Bosch (Germany), Denso (Japan), ZF (Germany), Valeo (France). Hitachi Automotive (Japan), Delphi (UK), GKN (UK), Schaeffler (US), Johnson Controls (US), Infineon (Germany), and Magna (Canada).

The report analyzes the hybrid system market across different verticals and regions. It aims at estimating the market size and future growth potential of the hybrid system market by region, component, system, by battery type, and by vehicle type. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.

Information: https://www.reportlinker.com/p05169658 

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