HybridElectricPowertrainMarket: Trends,Opportunities,andForecastsfor 2016-2026
According to a report by TechSci Research titled "Global Hybrid Electric Powertrain Market By Vehicle Type, By Component, By Region, Competition, Forecast & Opportunities, 2024," the global market for hybrid electric powertrains is anticipated to experience a CAGR of over 9% during the forecast period. This growth can be attributed to the rising demand for hybrid vehicles. The market consistsoffuelandelectricalpowertrainsandisinfluencedbyfactors such as decreasing prices of automotive batteries, technological advancements, environmental regulations, and escalating fuel prices. However, the high production cost associated with powertrains may hinderthemarket'sgrowth.
The hybrid electric powertrain market can be segmented based on vehicletype,components,and region. In terms of vehicle type,it can be categorized into plug-in hybrid vehicles and hybrid vehicles. The hybrid vehicles segment held the largest market share in 2018 and is expected to maintain its leading position in the future due to the inadequate availability of proper charging infrastructure in many countries. Hybrid vehicles charge their batteries through automatic regenerativebrakingtechnology.
Browse 119 market data Figures spread through 110 Pages and an indepth TOC on "GlobalHybridElectricPowertrainMarket"
https://www.techsciresearch.com/report/hybrid-electricpowertrain-market/4306.html
Prominent players operating in the global hybrid electric powertrain market includeToyota Motors,Honda MotorCompany, Nissan Motor Co., Ltd., BYD Auto Co., Ltd., Kia Motors Corporation, and Suzuki Motor Corporation. These companies employ organic strategies such as product launches, mergers, and collaborations to foster positive market growth. For instance, Magna International entered into an agreement with Huayu Automotive Systems to expand its electric presenceinChina.
Mr. Karan Chechi, Research Director at TechSci Research, a researchbased global management consulting firm, stated, "Asia-Pacific is expected to witness significant adoption of hybrid electric powertrainsinthecomingyears,drivenbytheincreasingadoption of electric and hybrid vehicles in economies such as China, India, and Japan.Governmentinitiatives,includingconcessions on thepurchase of hybrid vehicles and tax exemptions, are anticipated to further propel the adoption of hybrid electric powertrains in the region duringtheforecastperiod."
The report "Global Hybrid Electric Powertrain Market By Vehicle Type, By Component, By Region, Competition, Forecast &
Opportunities, 2024" evaluates the future growth potential of the global hybrid electric powertrain market and provides statistics, information on market size, structure, and future growth. The report aims to deliver cutting-edge market intelligence and assist decision makers in making informed investment decisions. Additionally, it identifies and analyzes emerging trends, as well as essential drivers, challenges,and opportunitiesin the global hybrid electricpowertrain market.
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