Global Hybrid Electric Powertrain Market By Vehicle Type (Hybrid Vehicles and Plug-in Hybrid Vehicles), By Component (Transmission, Battery Pack, Power Distribution Module, DC Converter, Electric Drive Train, Inverter/Converter and Other Components), By Region, Competition, Forecast & Opportunities, 2026
Published Date: May - 2025 | Publisher: MIR | No of Pages: 320 | Industry: Automotive | Format: Report available in PDF / Excel Format
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Global hybrid electric powertrain market was valued USD381 billion in 2019, and is projected to grow at a CAGR of over 9% during 2021-2026 on the back of rising urbanization and increasing demand for hybrid electric vehicles.
Moreover, stringent government regulations and better fuel efficiency of hybrid vehicles are expected to aid global Hybrid Electric Powertrain market during forecast period. Powertrain assists in reducing vehicle emissions and fuel consumption, consequently driving the growth of global Hybrid Electric Powertrain market. However, high production cost associated with powertrain is expected to emerge as a major challenge for the market in coming years.
Global Hybrid Electric Powertrain market can be classified based on vehicle type and components. Based on the vehicle type, the market has been segmented into hybrid vehicles and plug-in hybrid vehicles. Hybrid vehicle segment is expected to witness extensive adoption during the forecast period, as it is cost efficient than plug-in hybrid vehicle.
In terms of regional analysis, the market can be segmented into North America, South America, Asia-Pacific, Middle East & Africa and Europe. Asia-Pacific Hybrid Electric Powertrain market is anticipated to grow at the highest rate during 2021-2026, with Japan leading the market due to increasing sales of hybrid vehicles and surging focus on the development of hybrid vehicle technology in the country. Another factor that is promoting the adoption of Hybrid Electric Powertrain in the region is government initiatives such as exemptions from road tax, free car parking and subsidies for the purchase of hybrid vehicles.
Market Growth and Trends
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Strong Growth Forecast
The market is expected to see significant growth, with projections indicating a CAGR of over 9% during 2021-2026 leading to a value of USD381 billion in 2019
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Regional Leadership
Asia-Pacific is expected to lead the market due to strong adoption in countries like China and Japan, along with favorable government policies.
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Key Factors
Stricter emissions regulations, government incentives for hybrid and electric vehicle adoption, and rising fuel prices are major drivers of market growth.
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Technology Advancements
The industry is witnessing advancements in hybrid technologies, including the development of more efficient and powerful electric motors, higher voltage systems, and integrated drive systems.
Market Dynamics and Segmentation
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Full Hybrid (HEV) Dominance
Full hybrid electric vehicles (HEVs) are expected to dominate the market due to their combination of internal combustion engines and electric motors, offering improved fuel efficiency and reduced emissions.
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Plug-in Hybrid (PHEV) Growth
Plug-in hybrid electric vehicles (PHEVs) are also gaining traction, offering the ability to recharge from external sources and provide a longer all-electric range.
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Vehicle Type
Passenger cars currently account for a significant share of the HEV market, but there's also growing interest in hybrid powertrains for commercial vehicles.
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Component-Based Segmentation
The market is further segmented by components like electric motors, inverters, and battery packs, reflecting the complexity and diversity of hybrid systems.
Key Players and Competitive Landscape
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Major Players
Leading automotive manufacturers like Toyota, Honda, Nissan, BYD, Kia, and Suzuki, along with major powertrain component suppliers, are actively involved in the hybrid electric powertrain market.
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Competitive Strategies
Companies are pursuing strategies like technological innovation, mergers and acquisitions, and strategic partnerships to stay competitive.
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Technological Innovation
There's a focus on developing more efficient and compact electric motors, advanced battery technologies, and integrated powertrain systems.
Few of the major players operating in the market include
Kia Motors Corporation
Suzuki Motor Corporation
Years considered for this report
Historical Period2016-2019
Base Year2020
Estimated Year2021
Forecast Period2022-2026
Objective of the Study
- To assess the demand-supply scenario of Hybrid Electric Powertrain, which covers production, demand and supply of Hybrid Electric Powertrain, globally.
- To analyze and forecast global Hybrid Electric Powertrain market size.
- To classify and forecast global Hybrid Electric Powertrain market based on vehicle type, components and regional distribution.
- To identify drivers and challenges for global Hybrid Electric Powertrain market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global Hybrid Electric Powertrain.
- To conduct the pricing analysis for Hybrid Electric Powertrain.
- To identify and analyze the profile of leading players involved in the manufacturing of Hybrid Electric Powertrain.
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