Hybrid Transmission Market - Forecast(2024 - 2030)

The Hybrid Transmission Market is forecast to reach $6254.7 million by 2025, estimated to grow at a CAGR of 6.2% from 2020 to 2025. Hybrid Transmission Market primarily is driven by the growing demand of hybrid electric vehicles. The hybrid electric vehicles provide several benefits such as low harmful gases emission, less usage of gasoline and others. The increasing prices of gasoline and global warming are driving the use of electrified vehicles. Moreover, governments of different countries are also promoting the use of electric vehicles, by providing relaxation in taxes, which is going to boost hybrid transmission market. Additionally companies such as BAE Systems, BorgWarner Inc., Continental, Delphi, DENSO are working on improving the efficiency and reducing the cost of hybrid transmission systems which is going to boost the hybrid transmission market.

By Type - Mild Hybrid, Full Hybrid, Plug-in Hybrid.

By Components - Shift elements, EM (electric motor), Planetary gear sets.

By Application - Automotives, Marine crafts, Others.

By Achitecture - Parallel, Series, Power split, others.

By Geography - North America, South America, Europe, APAC, RoW.

Power split architecture is estimated to hold the major share in hybrid transmission market. The power split architecture uses both series and parallel hybrid, which creates an extremely efficient system, which going to be widely used in hybrid electric vehicles (HEV), which is going to boost the hybrid transmission market. Additionally power split architecture can operate as either series or parallel hybrid.  Power split architecture generator and motor speeds are decoupled, which allows additional freedom in vehicle control, this key features are going to provide huge growth to hybrid transmission market. 

Automotive industry is expected to grow at a CAGR of 7.1% during the forecast period. The growing demand of electric vehicles is driving the hybrid transmission market. Hybrid transmission offers benefits such as Boost mode, Recuperation, Start-stop function. Moreover hybrid transmission fits into any available installation space and it is also compatible All-wheel drive, which is estimated provide huge growth to hybrid transmission. Additionally,  hybrid transmission also helps in better fuel efficiency and reduced emissions. which is going to provide huge growth to hybrid transmission market in hybrid electric vehicle.

The Hybrid Transmission Market is dominated by APAC region and it is expected to grow at 7.45% during the forecast period. As this region has key companies such as Nissan, BYD, SAIC and others, which are largest producer of electric vehicles, going to use hybrid transmission on large scale providing huge growth to hybrid transmission market. In 2019 According International Energy Agency (IEA), China held the major share 45% of global electric vehicle market, which is increasing rapidly and going to provide huge growth to hybrid transmission market. Additionally in countries such as India, Japan and others, the demand of electrified vehicles are increasing, which is going to boost the hybrid transmission market in this region.

The increasing demand of electric vehicles is going to boost hybrid transmission market. The demand of electric vehicles are increasing day by day, as electric vehicles offers several benefits such as low harmful gases emission, low maintenance cost and others. The electric vehicles manufacturers are going to use hybrid transmission widely in hybrid electric vehicles (HEV).The hybrid transmission uses combination of electric motor and combustion engine substantially, which reduces the vehicle's fuel consumption, which is going to boost the hybrid transmission market.

With the increasing population the usage of non renewable has increased rapidly which is driving the use of hybrid transmission,as it helps in lower use of gasoline, as hybrid transmission are widely used in electric vehicles as such hybrid electric vehicles and plug in hybrid electric vehicle, which uses both electric motor and consumption engine, which uses gasoline in lower amount. Additionally government of countries such as India, China and other are promoting electric vehicles by imposing less-taxes, which is going to drive the hybrid transmission market.

The cost of hybrid transmission system is very high. Hybrid transmission systems are composed of internal combustion engine and an electric motor, power electronics components, which makes the hybrid transmission system very expensive. The high price of hybrid systems restricts its use in electric vehicles, which is going to restrict the growth of hybrid transmission market.

Acquisitions, joint venture and R&D activities are key strategies adopted by players in the Hybrid Transmission. Hybrid Transmission Market is expected to be dominated by major companies such as ZF Friedrichshafen AG, Allison Transmission Holdings Inc, GKN Automotive, Continental AG and Others.