Industry Overview
From USD 46.0 billion in 2023, the Global Hybrid Powertrain Systems Market is predicted to grow to USD 57.4 billion by 2030, registering a CAGR of 4.5% during the forecast period (2025–2030). The growth of this market is attributed to the capability of hybrid powertrain systems to eliminate the production of emissions along with improved efficiency of hybrid-enabled technologies.
Hybrid powertrain systems can also be defined as a combination of an electrical powertrain and a fuel powertrain. The blend of conventional powertrain components and transmission, internal combustion engine, electric components, high voltage energy storage, new electric motor, and power electronics such as battery is collectively referred to as hybrid powertrain systems. With the inclusion of progressive techniques in hybrid powertrain systems, new prototypes have been developed that lead to the increasing popularity of the product amongst tend-users that is further bolstering the growth of the global hybrid powertrain systems market.
With the integration of drive-train hybrid vehicles can achieve reduced consumption of fuel and also enable conversion of stored energy into mechanical motion. Furthermore, a hybrid powertrain system comprises all of the components that are used for transforming stored potential energy. In addition, hybrid electric vehicles aim at combining super capacitor or battery complemented along with an internal combustion engine (ICE) that helps in recharging the power of vehicles that helps hybrid powertrain systems use flywheels that help in storing energy and further enhancing the growth of global hybrid powertrain systems market.
Market Segmentation
Insight by Product Type
Based on product type, the global hybrid powertrain systems market is subdivided into transmission, engine, and electric motor, and battery. Amongst these segments, the electric motor and battery segment as electric motor and battery systems are considered to be energy efficient. Moreover, battery-enabled electric cars have extensively light and zippy feel, and fast acceleration as compared to conventional systems.
Global Hybrid Powertrain Systems Market Report Coverage
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Report Metric
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Details
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Historical Period
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2018 - 2023
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Base Year Considered
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2024
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Forecast Period
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2025 - 2030
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Market Size in 2023
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U.S.D. 46.0 Billion
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Revenue Forecast in 2030
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U.S.D. 57.4 Billion
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Growth Rate
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4.5%
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Segments Covered in the Report
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Product Type, Application, and Region
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)
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Insight by Application
Based on application, the global hybrid powertrain systems market is subdivided into mild hybrid vehicles, hybrid vehicles, and plug-in hybrid vehicles. Amongst these segments, the mild hybrid vehicle segment is expected to witness the highest CAGR during the forecast period. The growth of this segment is attributed to reduced consumption of fuel by using this vehicle.
Industry Dynamics
Growth Drivers
Increasing government initiatives to escalate the growth of hybrid powertrain systems along with the capability of hybrid powertrain systems to reduce fuel consumption are the key factors driving the growth of the global hybrid powertrain systems market. The hybrid powertrain systems effectively conglomerate the expertise of various single components that aim at integrating these components into an optimized system that further emphasizes upon reduction of fuel consumption objectives. Furthermore, increasing initiatives undertaken by the government authorities towards exemptions from road tax, and subsidies towards the purchase of hybrid vehicles along with free car parking are other factors in the growth of the global hybrid powertrain systems market.
Challenges
However, high upfront costs along with high production costs for the development of powertrains are the key factors anticipated to hinder the growth of the global hybrid powertrain systems market.
Geographic Overview
Geographically, North America is the largest revenue contributor in the hybrid powertrain systems market due to extensive initiatives undertaken by the government towards adopting environment-friendly devices. Furthermore, the prevalence of key players in the region along with the aim of these companies to enhance their solution offers and further provide improved powertrain systems to the end-users is another factor in the growth of the hybrid powertrain systems market in North America.
Moreover, Asia-Pacific is expected to witness the highest CAGR during the forecast period. The growth of this market in this region is attributed to the increasing sale of hybrid vehicles in China and increasing emphasis on the development of hybrid vehicle techniques in the region. Furthermore, to increasing sale of electric buses in the region in the year 2019 is expected to accelerate the growth of the hybrid powertrain systems market in this region.
Competitive Insight
Key players operating in the hybrid powertrain systems market are emphasizing their efforts upon strategic acquisitions to strengthen capabilities of research & development that support them in providing innovative solutions to the users and thus gain a competitive advantage.
Allison Transmission Holdings Inc. is an American manufacturer of commercial duty automatic transmissions and hybrid propulsion systems.
Eaton is a a power management company doing business in more than 175 countries. The energy-efficient products and services help their customers effectively manage electrical, hydraulic and mechanical power more reliably, efficiently, safely and sustainably. The company helps companies do business more sustainably
Recent Developments by Key Players
Allison Transmission has collaborated with Team Lynx, led by American Rheinmetall Vehicles, to provide the eGen Force electric hybrid system for the US Army's XM30 mechanised infantry combat vehicle.
Eaton has been selected by a leading manufacturer of electrified vehicles to supply an unique ELocker differential system for use on a new plug-in electric hybrid (PHEV) SUV.This is an electronic locking designed for drivers who want full control and traction on demand. It features net-forged gears offering the strength and durability need of off-road and recreational driving, while its electronic controls provide driver-selectable operation.
Some of the major players operating in the global hybrid powertrain systems market include Allison Transmission, Eaton, Delphi Automotive, Bosch, Magneti Marelli, BAE Systems, Graziano Oerlikon, Siemens, Nanjing Punch Powertrain, ZF Friedrichshafen, Vossloh, Continental, Jatco, Getrag, and Voith.
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data, and have key opinions from industry experts. The key profiles approached within the industry include, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end user surveys comprising consumers are also conducted to understand consumer behavior.
The Hybrid Powertrain Systems Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- Product Type
- Transmission
- Engine
- Electric Motor & Battery
- Application
- Mild Hybrid Vehicles
- Hybrid Vehicles
- Plug-In Hybrid Vehicles
Geographical Segmentation
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Source: VynZ Research
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Source: VynZ Research
