According to the research report titled ‘Hybrid Drivetrain Market Size By Level (Mild HEV, Full HEV, PHEV), By Type (Series, Parallel, Series-Parallel), By Component (HEV [Power Electronics, Battery, Electric Motor, Controller], PHEV [Power Electronics, Battery, Electric Motor, Controller]), COVID-19 Impact Analysis, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report, global hybrid drivetrain market is poised to expand lucratively over the forecast period 2021-2027.
 

Mounting global demand for hybrid vehicles, rising focus towards vehicle electrification, as well as increasing awareness about fuel efficiency are the primary factors stimulating worldwide hybrid drivetrain market growth.
 

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Furthermore, purchase incentives such as technical innovation, environmental friendliness, and cost-effectiveness are adding substantial traction to overall industry remuneration.
 

Growing climate consciousness has prompted several industries to transform operations to make them as sustainable as possible. The automotive segment, in particular, has been investing in energy-efficient components, working towards reducing greenhouse gas emission rate, and pushing for decarbonization of the economy.
 

Notably, hybrid cars employ more than one means of propulsion by combining a petrol/diesel engine and an electric motor. These vehicles have several benefits such as less CO2 emission than traditional diesel or petrol-based vehicles, and lesser fuel consumption.
 

Despite the positive industry outlook, dearth of charging infrastructure, high battery cost as well as supply chain constraints are projected to slow down the market progression in the upcoming years.
 

Based on product type fragmentation of global hybrid drivetrain market, the series segment was valued at USD 6 billion in 2020 and is slated to record substantial growth over the forecast period. In these series drivetrain vehicles, the electric motor is connected to the battery system which solely performs the function of propelling the vehicle.
 

On the regional front, Middle East & Africa market is projected to generate a notable CAGR over the study duration, on the back of surging product demand in the region, supported by fast-developing countries such as Israel, Turkey, UAE, Iran, and Saudi Arabia. Factors such as economic growth and increasing government initiatives towards diversification of the economy are also boosting regional industry growth.
 

Major players in worldwide hybrid drivetrain industry include ZF Friedrichshafen AG, Voith GmbH & Co. KGaA, Texas Instruments Inc., Punch Powertrain NV, Obrist Group, Magneti Marelli S.p.A., Magna International Inc., JATCO Ltd., Hofer Powertrain GmbH, Denso Corp., Delphi Technologies (BorgWarner Inc.), Continental AG, BAE Systems plc, and Aisin Corp.