Hybrid System Market Analysis, Trends, Growth and Forecast 2022

Hybrid System Market

The Hybrid System Market is projected to grow at a CAGR of 10.79% during the forecast period and is projected to reach USD 40.99 billion by 2022. Owing to the benefits offered by hybrid system, such as elimination of mechanical linkages, improved fuel efficiency and, thereby, decreased tail-pipe emissions, the demand for these systems is projected to grow in near future. Also, secondary factors such as increase in demand for electric & hybrid vehicles, government subsidies for BEVs, and investments in charging infrastructure will fuel the demand for hybrid systems in the coming years.

Regenerative braking system is projected to be the largest segment of the mild hybrid system market, by value. The major factor contributing to the large demand for regenerative braking system in the mild hybrid cars is the fact that it can reduce fuel consumption of a car by 10–25% according to the International Council on Clean Transportation (ICCT). Asia Pacific is the region with the highest growth of regenerative braking system market size in terms of volume and value because of the increasing elctric cars sales volume in the region, followed by North America where the sales of electric vehicles are growing significantly.

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The EV drive system is leading the hybrid system market in terms of value because of the high cost of EV drive, which includes key components such as high voltage battery, E-motor, and DC/DC Converter. The cost of high voltage battery, which includes mainly lithium-ion and nickel-based battery, is expected to decline tremendously in the future. According to ICCT (The International Council of Clean Transportation), the cost of battery packs for battery electric vehicle has declined to USD 295 per kWh in 2015. Further, it is anticipated that the cost will come down to USD 154-212 per kWh by 2020. This is impacting the overall EV drive cost, as the key component is high voltage battery.

Key Players:

The hybrid system market ecosystem consists of hybrid system manufacturers such as Bosch (Germany), Continental (Germany), Denso (Germany), ZF (Germany), and Johnson Controls (US). Hybrid system is supplied to major OEMs in the automotive industry including Nissan (Japan), General Motors (US), Toyota (Japan), and others.

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Target Audience

  • Hybrid System Component Manufacturers
  • Distributors and Suppliers of Hybrid System Components
  • Independent and Authorized Dealers Hybrid Components
  • Hybrid System Manufacturers
  • Electric Vehicle Manufacturers
  • Industry Associations and Experts

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