Hybrid System Market Expected to reach $ 40.99 billion by 2022

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The Hybrid System Marketwas valued at USD 18.88 billion in 2016 and is projected to grow at a CAGR of 10.79% during the forecast period. The base year considered for the study is 2016 and the forecast period is 2017–2022.Factors such as decreased tail-pipe emission limits, potential fuel savings with adoption of mild hybrids, and tax benefits & incentives/subsidies for adoption of electric vehicles are the key factors fueling the growth of the hybrid system market.
Objectives of the Study:
  • To define, describe, and project the hybrid system market, by battery type (lead acid, Li-ion battery, and Nickel-based) during the forecast period, in terms of volume and value
  • To identify and forecast the hybrid system market from 2017 to 2022 based on component (12V battery, high voltage battery, DC/AC inverter, DC/DC converter, DC/DC boost converter, E-motor, motor controller and AC/DC charger), in terms of volume and value at regional level
  • To analyze and forecast the hybrid system market based on system type (start-stop, regenerative braking, EV drive, E-boost, sailing, and plug-in charging system) and vehicle type (mild hybrid, HEV, PHEV, and BEV) from 2017 to 2022, in terms of volume and value at country level
  • To identify the market dynamics, including drivers, restraints, opportunities, and challenges, and analyze their impact on the hybrid system market
  • To analyze the competitive leadership map for the key players based on their product offerings and business strategies to identify the dynamic differentiators, innovators, visionary leaders, and emerging companies in the hybrid system market
To know about the assumptions considered for the study, download the pdf brochure
The figure below illustrates the break-up of the profile of industry experts who participated in primary discussions.
Hybrid System Market 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
Hybrid System Market, By Battery Type & Country, 2015-2025
  • Lithium-Ion
  • Nickel-Based
  • Lead Acid
  • Solid State Battery
North America expected to be the fastest growing market for Hybrid System
The hybrid system market for North America is estimated to grow at the highest rate during the forecast period. The increasingly stringent CAFE regulations have led to an increase in the demand for hybrid and electric vehicles in the region. Thus, the region is expected to see the fastest growth in the sales of hybrid and electric vehicles during the forecast period. Hence, the market for hybrid system in North America is also expected to grow in line with the growth of hybrid and electric vehicles.
Global Players:
The hybrid system market is dominated by a few global players. Some of the key manufacturers operating in the market are Bosch (Germany), Continental (Germany), Denso (Japan), ZF (Germany), and Valeo (France). There are certain key innovators gaining attention in the hybrid system market including UQM Technologies (US), Schaeffler (Germany), and Johnson Controls (US).
The factor that is restraining the market is the lack of standardization of hybrid technologies such as high voltage battery. There is no such specific industry standards or specification available. The components such as electric motors, starter generators, and energy storage systems can be standardized in order to decrease the R&D cost of developing the hybrid systems. Standardizing the system components is difficult for the manufacturers, and this restrains the market growth. The hybrid system market comprises several regional players and is dominated by a few global players. Some of the key manufacturers operating in the market are Bosch (Germany), Continental (Germany), Denso (Germany), ZF (Germany), and Johnson Controls (US).

Source: 

https://www.marketsandmarkets.com/Market-Reports/hybrid-system-market-69130715.html
Location: USA

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