The latest research study “Plug-In Hybrid Electric Vehicle Powertrain Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global plug-in hybrid electric vehicle powertrain market is expected to exhibit a CAGR of 18.80% during 2022-2027.
A plug-in hybrid electric vehicle (PHEV) powertrain represents an assembly of several critical elements that work together to transfer power from the battery system of the automobile to the motors. It essentially consists of an inverter, battery pack, DC-AC converter, power distribution module, electric motor, and onboard charger. A plug-in hybrid electric vehicle powertrain has 60% fewer parts than an internal combustion engine and more powerful batteries that allow faster acceleration. In addition, it is a lightweight, compact system that delivers instant torque and renders extremely low vibrations.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Plug-In Hybrid Electric Vehicle Powertrain Market Trends and Drivers:
The expanding automotive sector and the continued electrification of components are primarily driving the plug-in hybrid electric vehicle powertrain market. Besides this, the escalating need for lightweight driveshafts to enhance fuel efficiency and improve vehicular performance is further augmenting the market growth. Moreover, various improvements in powertrain technology, such as the introduction of piezoelectric instruments that minimize the size of the battery, improve the range, and accelerate the charging speed, are also catalyzing the global market. Apart from this, the elevating requirement for this system across countries, owing to the growing consumer concerns towards the harmful effects of greenhouse gas emissions on the atmosphere, is acting as another significant growth-inducing factor. Furthermore, the launch of several policies by the government bodies to reduce carbon footprints and provide purchase grants, related incentives, tax rebates, utility rate reductions, and parking privileges to the consumers is anticipated to propel the plug-in hybrid electric vehicle powertrain market over the forecasted period.
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Plug-In Hybrid Electric Vehicle Powertrain Market 2022-2027 Analysis and Segmentation:
The report has segmented the market on the basis of
Breakup by Component:
Breakup by Powertrain Type:
- Series Hybrid
- Parallel Hybrid
Breakup by Position Type:
- Front Wheel Drive
- Rear Wheel Drive
- All Wheel Drive
Breakup by Vehicle Type:
- Passenger Cars
- Commercial Vehicle
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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