The global hybrid drivetrain market is anticipated to grow at a significant CAGR of 26.5% during the forecast period. The global hybrid drivetrain market is driven by the increased initiatives taken by governmnet such as zero carbon emission to support the market. Transportaion sector accounts for 18% of total energy consumption in India and this demand is being met by importing crude oil, which contributes an estimated 142 million tonnes of CO2 emissions annually. Owing to which government is insisting setting out EV charging stations by offering capital subsidy through faster adoption and manufacturing of hybrid and electrical vehicles in India, under (FAME) India Scheme Phase II and state level initiatives. In addition, in February 2019, the Government of India reportedly announced a $1.4 billion subsidy program to boost sales of hybrid and electric vehicles in the country. Further, government has also delicenced the activity of setting up EV charging stations to increase private investments to enhance the adoption of market in future.
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Moreover, Advanced hybrid drivetrains are increasingly witnessing technological advancements which are further bolstering the overall market outlook. For instance, in July 2019, Toyota reportedly announced the development of its second hybrid transmission at the TMMP plant located in Walbrzych, Poland. However, the increasing number of sales of fuel-based vehicles is likely to hamper the market growth during the forecast period.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Hybrid Drivetrain Market Report by Segment
By Type
- Series Drivetrains
- Parallel Drivetrains
- Series-parallel Drivetrains
By Component
- Electric Motor
- Power Electronics
- Controller
- Inverter/Converter
- Battery Pack
By Degree of Hybridization
- Mild HEV
- Full HEV
- PHEV
Global Hybrid Drivetrain Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global hybrid drivetrain market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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