Hybrid Powertrain Market Analysis

Hybrid Powertrain Market Analysis

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The hybrid powertrain market from full hybrid (HEV) segment dominated around USD 66 billion revenue in 2022. Mild hybrid (MHEV) powertrains incorporate a small electric motor and battery to assist the internal combustion engine, enhancing fuel efficiency. In contrast, plug-in hybrid (PHEV) powertrains have larger batteries that can be charged via an external power source for extended electric-only driving range, further reducing emissions.
 

The passenger cars segment accounted for 60% of the hybrid powertrain market share in 2022. Hybrid powertrains are increasingly adopted in commercial vehicles like trucks and buses to reduce fuel consumption and emissions during frequent stop-and-start city driving, enhancing environmental sustainability and cost-efficiency.
 

The hybrid powertrain market from OEM sales segment is anticipated to witness 19.4% CAGR through 2032, due to growing presence in the aftermarket and online sales channels. As consumers seek eco-friendly transportation solutions, hybrid powertrain components and systems are increasingly available through aftermarket suppliers, offering opportunities for retrofitting existing vehicles.
 

U.S. hybrid powertrain market size held over USD 11.1 billion in 2022, driven by increasing environmental awareness and government incentives. Consumers and businesses alike are seeking vehicles that offer reduced emissions and improved fuel efficiency.