Hybrid Vehicle Powertrain Component Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Vehicle Type (Passenger Car, Light Commercial Vehicle (LCV), Medium & Heavy Commercial Vehicle (M&HCV)), By Propulsion (HEV, PHEV), By Component (Battery, Motor, Controller, Engine, Transmission, Others), and By Region
Published Date: April - 2025 | Publisher: MIR | No of Pages: 320 | Industry: Automotive | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationHybrid Vehicle Powertrain Component Market size
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The global hybrid vehicle powertrain component market is experiencing significant growth, driven by the increasing adoption of hybrid vehicles and stricter emission regulations. The market is projected to reach USD 319.28 billion by 2031, exhibiting a CAGR of 14.2% during the forecast period of 2024-2031.
Key components of the hybrid powertrain include batteries, motors, controllers, engines, and transmissions.
The global hybrid vehicle powertrain component market is anticipated to witness a growth of steady CAGR in the forecast perio Growing popularity of the hybrid vehicles due to rise in concerns regarding the negative effect of carbon emissions into the environment and rapid advancements in the automotive industry drives the demand for the global hybrid vehicle powertrain component market.
Increases in Sales and Production of Hybrid Vehicle Drives the Market Growth
Hybrid vehicles are powered by a combination of electric motor and internal combustion engine. The primary benefit of hybrid vehicle so that it consumes less fuel and emit less carbon dioxide than regular and diesel engines. Hybrid vehicles have greater fuel efficiency as they don’t rely on a single fuel to run the vehicle. It uses regenerative braking which means when brakes are applied while driving the hybrid vehicles, the energy produced and used to recharge the high voltage battery. Hybrid vehicles requires less maintenance as they experience less wear and tear. Consumers are becoming more aware and are looking for novel solutions that can produce fuel-efficient vehicles are making the manufacturers to improve the propulsion system in the vehicles. Market players are making the use of advanced simulation technologies and instrumentation and test systems. They are also offering customized powertrain solutions to the customers. The high sales of hybrid vehicles powertrain are expected to bolster global hybrid vehicle powertrain component market growth over the forecast period.
Supportive Government Policies and Subsidies Boosts the Market Growth
Several governments are offering several subsidies to customers purchasing electric and hybrid vehicles. The demand for hybrid vehicles is growing in developing countries such as India, Brazil, Mexico due to stringent emission standards and the rise in the demand for zero-emission vehicles. Government of India announced extension of the scheme FAME II in 2021 to promote the electric vehicle sales throughout the country. The European Commission proposed a cut of 55% cut in carbon emissions from cars by 2030 and 100% cut in the carbon emissions by 2035. United Kingdom a target of net-zero emission by 2050 and proposed a ban on the sale of fossil fuel powered vehicles by 2035. The US Department of Transportation has set Corporate Average Fuel Economy (CAFE) standards for the automobiles which creates the demand for electric and hybrid vehicles. Also, the Dubai’s Roads and Transport Authority and the Saudi Arabian government announced its plans to promote sustainable mobility solutions in their countries. Massive support from the government authorities and the rise in the consumer awareness about the benefits of using alternate fuel vehicles are expected to propel the global hybrid vehicle powertrain component market growth over the next five years.
Market Segmentation
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Vehicle Type
The market is segmented by vehicle type, including passenger cars, light commercial vehicles (LCVs), and medium & heavy commercial vehicles (M&HCVs).
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Propulsion Type
The market is also segmented by propulsion type, such as hybrid electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEVs).
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Component Type
Key components of the hybrid powertrain include batteries, motors, controllers, engines, and transmissions.
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Regional Distribution
The market is analyzed by regional distribution, including North America, Asia-Pacific, Europe, and the rest of the world.
Market Players
Hitachi Automotive Systems Ltd
ZF Friedrichshafen AG
Mitsubishi Electric Corp.
Schaeffler AG
Continental AG
Marelli Holdings Co., Ltd.
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Attribute |
Details |
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Base Year |
2021 |
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Historic Data |
2017 – 2020 |
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Estimated Year |
2022 |
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Forecast Period |
2023 – 2027 |
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Quantitative Units |
Revenue in USD Million, Volume in Units, and CAGR for 2017-2021 and 2022-2027 |
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Report coverage |
Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
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Segments covered |
· Vehicle Type · Propulsion · Component |
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Regional scope |
North America; Asia Pacific; Europe & CIS; South America; Middle East & Africa |
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Country scope |
United States; Canada; Mexico; China; India; Japan; Malaysia; Thailand; Indonesia; Vietnam; South Korea; Germany; France; United Kingdom; Spain; Italy; Belgium; Russia; Brazil; Argentina; Columbia; South Africa; Iran; Turkey; Egypt |
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Key companies profiled |
Robert Bosch GmbH, BorgWarner Inc., Magna International Inc., Hitachi Automotive Systems Ltd, Cummins Inc., ZF Friedrichshafen AG, Mitsubishi Electric Corp., Schaeffler AG, Continental AG, Marelli Holdings Co., Ltd. |
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Customization scope |
10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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