Hybrid Drivetrain Market to Record Significant Growth in Revenue

Hybrid drivetrain market outlook is driven by growing sales of hybrid vehicles. Hybrid vehicles use an alternate power source along with conventional sources to produce momentum and minimize fuel consumption. With enactment of stringent regulations to curb vehicular emission and reduce carbon footprint, automotive OEMs are incorporating more electric components in cars, which is triggering hybrid drivetrains industry demand. Hybrid drivetrains offer a range of benefits, such as low fuel consumption and less emission. Hybrid drivetrains have witnessed major advancements in the past few years. For example, in July 2019, Toyota announced plans to build a second hybrid transmission at TMMP plant in Walbrzych, Poland.
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Global Market Insights, Inc., hybrid drivetrain industry size is expected to surpass $645 billion by 2026.
On the basis of type, hybrid drivetrain market is fragmented into parallel, series, and series-parallel. Among these, series-parallel segment is likely to observe significant growth and push hybrid drivetrain industry growth. Series-parallel system divides the engine power into 2 paths; one travels to the generator for electricity production, while other offers momentum to the wheels through a mechanical gear. The system is capable of utilizing maximum power and bridges the gaps of engine torque with electric power.
Hybrid drivetrains are experiencing maximum installation in mild HEV cars. Mild HEVs are equipped with electric motors, which deliver mid-level engine assistance for easy and refined operations. Mild HEVs provide more agility as compared to full combustion counterparts as they utilize recuperated electric energy that provides improved engine acceleration. Hybrid drivetrains also prolong engine life by minimizing mechanical stress and engine load, mainly in urban driving conditions.
Control component has found high importance in vehicle operation and augmented hybrid drivetrain industry size. Control module helps to handle cooperation between power sources by integrating control points and host of sensors. It also manages temperature for engine components and batteries for safe and streamlined driving.
The level of carbon dioxide in the atmosphere is rising at an alarming rate, creating atmospheric imbalance. As per the American Meteorological Society, the number of carbon dioxide molecules has catapulted to 408 PPM in the year 2019 from 368 Parts Per Million (PPM) in the year 1998. In the direction of limiting environmental impact, people have started driving eco-friendly vehicles, which has resulted in significant escalation in hybrid drivetrain market share. To minimize environmental pollution, governments across the globe are introducing incentive plans to encourage clean vehicle adoption. For example, in February 2019, the government of India introduced a subsidy program worth $1.4 billion, to encourage the adoption of electric and hybrid vehicles.
With hybrid vehicles gaining traction in the region, Europe Hybrid Drivetrain Market is dominating the regional hierarchy. For example, in September 2019, BMW introduced a mild-hybrid variant for 5 series automobiles. The vehicle is equipped with secondary battery and 48V starter-generator, that enhances the regenerative braking system of the vehicles and improves operation. Later, in January 2020, the company announced roll out of plug-in hybrid vehicle models, including BMW X2 xDrive25e and BMW X1 xDrive25e.
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Hybrid Drivetrain Market is witnessing the development of a slew of innovative products, as companies partaking in the market are vying to gain an edge over the market. Some of the leading hybrid drivetrain industry players are BAE Systems, Aisin Seiki, Delphi Automotive, Denso, Continental AG, Magna International, JATCO Ltd., ZF Friedrichshafen, and Hofer Powertrain.