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Hybrid Powertrain Market Trends

Report ID: GMI6865
Published Date: Oct 2023
Report Format: PDF

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Hybrid Powertrain Market Trends

The hybrid powertrain industry is experiencing heightened demand driven by an increased emphasis on sustainability and responsible manufacturing practices in response to growing environmental awareness and regulations. There is a notable focus on reducing carbon emissions and promoting circular economy principles within the hybrid powertrain production process. Growing interest is observed in hybrid powertrains due to their consistent performance, versatility, and potential cost savings in the automotive sector. Additionally, specialized hybrid powertrain solutions are emerging for specific applications, such as electric and hybrid systems designed for commercial vehicles, contributing to the accelerated growth of the market.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of hybrid powertrain reached USD 97 billion in 2022 and is set to cross USD 390.3 billion by 2032, led by the increased emphasis on sustainability and responsible manufacturing practices in response to growing environmental awareness and regulations.

Full hybrid (HEV) powertrain industry generated USD 66 billion in revenue in 2022, due to their superior fuel efficiency, reduced emissions, and increased focus on sustainable transportation solutions worldwide.

U.S. market accounted for USD 11.1 billion in revenue in 2022, propelled by the increasing environmental awareness and government incentives.

Some major hybrid powertrain companies are Toyota Motor Corporation, Honda Motor Co., Ltd., Ford Motor Company, Hyundai Motor Company, General Motors Company, Volkswagen Group, BMW AG, Daimler AG (Mercedes-Benz Group AG), Subaru Corporation, and Fiat Chrysler Automobiles (FCA).