Hybrid Drive Train Market (By Level: Mild HEV, Full HEV, PHEV; By Type: Series, Parallel, Series-Parallel; By Components: HEV, PHEV) - Global Industry Analysis, Market Size, Opportunities and Forecast 2021 - 2028

Category : Automotive, Transportation and Logistics | Delivery Format : PDF | Status: Published | Pages : 190

The global hybrid drive train market is expected to grow at a CAGR of around 28% from 2021 to 2028 and expected to reach the market value of around US$ 390.0 Bn by 2028.

Hybrid Drive Train Market Size 2021 - 2028

A drive train is the set of components that transfers power from a vehicle's engine or motor to the wheels. The design of the hybrid electric vehicle's drive train determines how the electric motor interacts with the conventional engine. The drive train influences the mechanical efficiency, fuel consumption, and purchase price of the vehicle. Hybrid drive trains include both conventional and plug-in hybrids, with models involving series, parallel, and series/parallel drive trains. Due to the lack of internal combustion engines in battery-electric and hydrogen fuel cell vehicles, they use different drive train assemblies (though some components are shared).

Report coverage

Market Hybrid Drive Train Market
Analysis Period 2017 - 2028
Base Year 2020
Forecast Data 2021 - 2028
Segments Covered By Level, By Type, By Components, and By Region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled BAE Systems plc, Aisin Corporation, Delphi, ZF Friedrichshafen AG (ZF Group), BorgWarner Inc., Continental AG, Hofer Powertrain, Denso Corporation, JATCO Ltd, Magna International Inc., OBRIST Group, PUNCH POWERTRAIN NV, and among others
Report Coverage
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Customization Scope 10 hrs of free customization and expert consultation


Market Drivers

Reducing emission and increase in fuel economy bolster the growth of global hybrid drive train market

According to a report released by the National Renewable Energy Laboratory, hybrid drive trains achieve 24% better fuel economy than internal-combustion-engine vehicles (ICEVs). Furthermore, the parallel hybrid drive train consumes 4% less fuel than the series hybrid. The series hybrid drive train has a strong influence on fuel economy and a thermostat control strategy that ignores thermal transient effects, and it is among the best of those evaluated solely on fuel economy. Such factors have a positive impact on the global hybrid drive train market's growth.

High government support or involvement propel the growth of global hybrid drive train market

According to a report released by the United Nations Environment Program (UNEP), the UNEP, the International Transport Forum (ITF), and the FIA Foundation for the Automobile and Society, as well as the International Energy Agency (IEA), are collaborating to develop and implement the Global Fuel Economy Initiative (GFEI), which aims to double road vehicle fuel efficiency. Apart from that, the potential energy savings for passenger vehicles are significant. Fuel consumption is currently reduced by 25-35% as a result of hybrid drive train technology. Such factors fuel the growth of the global hybrid drive train market and will continue to do so throughout the forecast period.

Presence of multiple Original Equipment Manufacturers (OEMs) coupled with investments fuel the growth of global hybrid drive train market

The Japanese market will develop lucrative opportunities for hybrid drive train market owing to presence of prominent OEMs residing in this country. Because heavy electric vehicles (HEVs) have made significant investments in a dominant middle ground technology that meets emission standards and consumer needs, growth in battery electric vehicles (BEVs) will contribute approximately 13% by 2030. Furthermore, HEVs are likely to maintain their status because a combination of low annual mileage and a high proportion of urban driving makes hybrid drive trains an adequate technology for the country's growth. Such factors are to blame for the eventual growth of the global hybrid drive train market.

Market Segmentation

The global hybrid drive train market is segmented based on level, type, and components. Based on level, the market is segmented as Mild HEV, Full HEV, and PHEV. By type, the market is segregated as series, parallel, and series-parallel. By components, the market is classified into HEV and PHEV.

Hybrid Drive Train Market By Type 2021-2028

According to level, the plug-in hybrid electric vehicle (PHEV) segment will hold lucrative opportunities for the overall market in the coming years by accounting for a significant share of the hybrid drive train market. This is because PHEV sales will skyrocket in Europe, with Germany, France, the United Kingdom, and the Nordic countries accounting for 39%, 35%, 33%, and 47% respectively, by 2030. Furthermore, the adoption of PHEVs provides consumers with more options in terms of vehicle power train and size. Such factors are responsible for segmental growth, which in turn contributes to the overall growth of the hybrid drive train market.

According to type, the series parallel drive train segment will account for the dominating share of the global hybrid drive train market. According to the Union of Concerned Scientists, series drive trains are the most basic hybrid configuration, performing best in stop-and-go traffic where gasoline and diesel engines are inefficient. Furthermore, according to the National Renewable Energy Laboratory, adopting a series drive train is 18% more fuel efficient than an ICEV. Such factors have a positive impact on segmental growth, which ultimately contributes to the overall growth of the global hybrid drive train market.

Regional Overview

Asia Pacific to take a forefront lead in hybrid drive train market; Europe to record all time high CAGR during the forecast period

In the coming years, Asia Pacific will have a dominant share of the hybrid drive train market, accounting for 50% of the global market. This is due to the Chinese government's financial and non-financial incentives, which have propelled China to the forefront of the electric vehicle (EV) market. Furthermore, among APAC countries, China has the fastest growth in BEVs as a major market, accounting for 12% by 2025 and 26% by 2030. Apart from that, the presence of large OEMs is a key factor that contributes to the growth of the APAC hybrid drive train market. Japan, among APAC provinces, is a contributor to the hybrid drive train market. Presence of strong players/OEMS makes it a lucrative country for the growth of overall market of hybrid drive train.

Hybrid Drive Train Market By Region 2021-2028

Europe, on the other hand, will have the fastest growing CAGR in the hybrid drive train market in the coming years. According to the IEA report, Europe is followed by 1.2 million electric cars, with a staggering increase of 3,85,000 electric cars over the previous year. Furthermore, Norway remains the market leader in electric vehicles, accounting for 46% of new electric vehicle sales in 2018. This is one of the major factors contributing to the global growth of the hybrid drive train market.

Competitive Landscape

The prominent players of the global hybrid drive train market involve BAE Systems plc, Aisin Corporation, Delphi, ZF Friedrichshafen AG (ZF Group), BorgWarner Inc., Continental AG, Hofer Powertrain, Denso Corporation, JATCO Ltd, Magna International Inc., OBRIST Group, PUNCH POWERTRAIN NV, and among others

Market Segmentation

Market By Level

Mild HEV
Full HEV
PHEV

Market By Type

Series
Parallel
Series-Parallel

Market By Components

HEV
PHEV

Market By Geography

North America
•    U.S.
•    Canada

Europe
•    U.K.
•    Germany
•    France
•    Spain
•    Rest of Europe

Asia-Pacific
•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Rest of Asia-Pacific

Latin America
•    Brazil 
•    Mexico
•    Rest of Latin America

Middle East & Africa
•    GCC
•    South Africa
•    Rest of Middle East & Africa


Frequently Asked Questions

Hybrid drive train market is expected to reach a market value of around US$ 390.0 Bn by 2028.

The hybrid drive train market is expected to grow at a CAGR of around 28% from 2021 to 2028.

Based on level, PHEV segment is the leading segment in the overall market.

High government support is one of the prominent factors that drive the demand for hybrid drive train market.

BAE Systems plc, Aisin Corporation, Delphi, ZF Friedrichshafen AG (ZF Group), BorgWarner Inc., Continental AG, Hofer Powertrain, Denso Corporation, JATCO Ltd, Magna International Inc., OBRIST Group, PUNCH POWERTRAIN NV, and among others.

Asia Pacific is anticipated to grab the highest market share in the regional market

Europe is expected to be the fastest growing market in the forthcoming years

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