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Pulished Date January, 2021
ID: 10766
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Hybrid System Market by System Type (Start-Stop, Regenerative Braking, EV Drive, eBoost), Battery (Li-Ion, Lead Acid, NiMH), Component (Battery, DC/DC Converter, DC/AC Inverter, eMotor), Vehicle (HEV, PHEV, EV) & By Region and Forecast till 2026

Pulished: January, 2021
ID: 10766
Pages: 175

Market Overview

In 2021, the global hybrid system market was valued at USD 18.88 billion and was projected to grow at a 10.79% CAGR during 2021-2026.

A hybrid system is a dynamical system that projects both discrete and continuous dynamic behavior. It offers several advantages like increased fuel efficiency, diminished tail-pipe emissions, and exclusion of mechanical linkages. Hybridization has enhanced the system's abilities with reduced capital and operating expenses and reduced the system's downtime by improving the robustness during the power-quality issues. Adopting the hybrid system is expected to continuously increase in the land and sea-based industry and commercial sectors, mainly due to the cost reduction of batteries and the increase in energy density. 

Various driving factors of the global hybrid system market are the government's stringent rules for vehicle emission and government focus on decreasing carbon emission, reduced tail-pipe emission limits, tax benefits & incentives/subsidies for the adoption of electric vehicles.

Recent Developments

In October 2017, Bosch launched a 48-volt battery for mild-hybrid systems to provide cost-efficient battery solutions to its customers.

In April 2016, Delphi Automotive launched a 48-volt mild hybrid system that could be a pivotal solution for automotive manufacturers to adhere to the future emission regulations and provide enhanced performance to its customers.

Market Drivers

The key factor driving the global hybrid system market's growth is the increasing demand for higher voltage systems to support hybridization. Hybridization reduced the system's downtime by improving the robustness during the power-quality issues. The popularity of the hybrid system is supposed to steadily increase in the land and sea-based industry and commercial sectors, primarily due to the cost reduction of batteries and an increased energy density. Hybridization of systems improves the flexibility and enhances the capacity to integrate a wide variety of standard battery bank voltages using a DC/DC converter. Therefore, the growing demand for hybridization of systems is expected to positively influence the global market's growth.

Restraints

The key factor restraining the global hybrid system market is the lack of standardization of hybrid technologies like high voltage battery. Currently, there are no such particular industry norms or specifications. The components, such as electric motors, starter generators, and energy storage systems, could be standardized to decrease the R&D cost of developing hybrid systems. Standardizing the system components is difficult for the manufacturers, and this restrains the market growth.

Market Segmentation

By System Type

The regenerative braking system is projected to be the largest segment of the global hybrid system market by value. The primary factor contributing to the massive demand for regenerative braking systems in mild hybrid cars is that it can reduce fuel consumption of a car by 10–25%, according to the International Council on Clean Transportation (ICCT). The Asia Pacific region has the highest growth rate for the regenerative braking system in terms of volume and value owing to the increasing electric car sales volume in the area, followed by North America, where electric vehicles' sales are growing significantly.

By Vehicle Type

The EV drive system leads the hybrid system market in terms of value because of the high EV drive cost, which includes critical components such as high voltage battery, E-motor, and DC/DC Converter. The charge of high voltage batteries, which mainly comprises lithium-ion and nickel-based batteries, is supposed to decrease tremendously in the future. As per the ICCT (The International Council of Clean Transportation), the cost of battery packs for battery-electric vehicles reduced to USD 295 per kWh in 2015. Further, it is anticipated that the price will come down to USD 154-212 per kWh by 2020. It is influencing the overall EV drive cost, as the critical component is a high voltage battery.

By Component

The high voltage battery is expected to control the largest market share by size in the hybrid system components market during the forecast timeframe. The high voltage battery is one of the most critical and costly components in a plug-in hybrid or fully electric vehicle. A battery module's cost is up to 30–45% of a fully electric vehicle's total price. However, the manufacturers are trying to reduce the cost of battery packs used in EVs to make the electric vehicle's overall price cheaper and reachable to the mass market. The high voltage battery market is predicted to remain the largest among the market for other hybrid system components.

By Battery Type

The lithium-ion battery type is estimated to control the largest market size during the outlook period. Acceptance in the high voltage battery market and its high power-to-weight ratio, good high-temperature performance, increased energy efficiency, and low self-discharge are the critical features of lithium-ion batteries. The majority of today's plug-in hybrid electric vehicles and fully electric vehicles use lithium-ion batteries, though the battery's cost is high. Nickel-based batteries were having the second primary market as of 2016 after lithium-ion battery technology.

Regional Analysis

Geographically, the Asia Pacific market dominates the global hybrid system market in terms of revenue share. The primary factors driving the Asia Pacific market growth are increasing electric vehicle sales in developing countries such as India, China, Japan, and many others. Also, the Government of China is working towards transitioning the systems to end the production and sales of gasoline and diesel automobiles. Also, the Government of Japan had initiated the "Next-Generation Vehicle Strategy 2010", according to which it is estimated that the total market share of electric vehicle sales would be 50% of the entire automobile sales by the end of 2020. Nonetheless, North America is forecasted to emerge as the fastest-growing region during the forecast period 2016-2023. Because of the strict Corporate Average Fuel Economical (CAFE) regulations in the U.S., which have supported the adoption of electric and hybrid vehicles in North America to improve light trucks and cars' fuel economy.

Key Players

Some of the chief corporations operating in the global hybrid system market are Bosch (Germany), Continental (Germany), Denso (Germany), ZF (Germany), and Johnson Controls (U.S.).

Impact of COVID-19 on Global Hybrid System Market 

The coronavirus pandemic had an immediate and critical impact on the globally integrated automotive industry. Symptoms include a disruption in Chinese parts exports, large scale manufacturing interruptions across Europe, and assembly plants' closure in the United States. It is placing intense pressure on an industry already coping with a downshift in global demand, negatively impacting the global hybrid system market.

Furthermore, transportation restrictions and supply chain disruptions have created a logistical ordeal for market players, leading to severe automotive product shortages globally.

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Hybrid System Market, By System Type                

                    6.1.1 Start-Stop     

                    6.1.2 Regenerative Braking         

                    6.1.3 EV Drive        

                    6.1.4 eBoost 

                    6.1.5 Market Size Estimations & Forecasts (2019-2024)        

                    6.1.6 Y-o-Y Growth Rate Analysis         

                    6.1.7 Market Attractiveness Index         

          6.2 Hybrid System Market, By Component                  

                    6.2.1 Battery

                    6.2.2 DC/DC Converter     

                    6.2.3 DC/AC Inverter        

                    6.2.4 eMotor

                    6.2.5 Market Size Estimations & Forecasts (2019-2024)        

                    6.2.6 Y-o-Y Growth Rate Analysis         

                    6.2.7 Market Attractiveness Index         

          6.3 Hybrid System Market, By Battery              

                    6.3.1 Li-Ion  

                    6.3.2 Lead Acid      

                    6.3.3 NiMH   

                    6.3.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.3.5 Y-o-Y Growth Rate Analysis         

                    6.3.6 Market Attractiveness Index         

          6.4 Hybrid System Market, By Vehicle Type                

                    6.4.1 HEV     

                    6.4.2 PHEV   

                    6.4.3 EV       

                    6.4.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.4.5 Y-o-Y Growth Rate Analysis         

                    6.4.6 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By System Type        

                    7.2.3 By Component         

                    7.2.4 By Battery      

                    7.2.5 By Vehicle Type        

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By System Type        

                    7.3.3 By Component         

                    7.3.4 By Battery      

                    7.3.5 By Vehicle Type        

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By System Type        

                    7.4.3 By Component         

                    7.4.4 By Battery      

                    7.4.5 By Vehicle Type        

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By System Type        

                    7.5.3 By Component         

                    7.5.4 By Battery      

                    7.5.5 By Vehicle Type        

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By System Type        

                    7.6.3 By Component         

                    7.6.4 By Battery      

                    7.6.5 By Vehicle Type        

8. Key Player Analysis                           

          8.1 Bosch               

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Continental                 

          8.3 Denso Corporation                

          8.4 ZF FRW             

          8.5 Johnson Controls                  

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms By Cutting Systems and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Hybrid System Market By Region, From 2021-2026 ( USD Billion )
  2. Global Hybrid System Market By System Type, From 2021-2026 ( USD Billion )
  3. Global Start-Stop Market By Region, From 2021-2026 ( USD Billion )
  4. Global Regenerative Braking Market By Region, From 2021-2026 ( USD Billion )
  5. Global EV Drive Market By Region, From 2021-2026 ( USD Billion )
  6. Global eBoost Market By Region, From 2021-2026 ( USD Billion )
  7. Global Hybrid System Market By Component, From 2021-2026 ( USD Billion )
  8. Global Battery Market By Region, From 2021-2026 ( USD Billion )
  9. Global DC/DC Converter Market By Region, From 2021-2026 ( USD Billion )
  10. Global DC/AC Inverter Market By Region, From 2021-2026 ( USD Billion )
  11. Global eMotor Market By Region, From 2021-2026 ( USD Billion )
  12. Global Hybrid System Market By Battery, From 2021-2026 ( USD Billion )
  13. Global Li-Ion Market By Region, From 2021-2026 ( USD Billion )
  14. Global Lead Acid Market By Region, From 2021-2026 ( USD Billion )
  15. Global NiMH Market By Region, From 2021-2026 ( USD Billion )
  16. Global Hybrid System Market By Vehicle Type, From 2021-2026 ( USD Billion )
  17. Global HEV Market By Region, From 2021-2026 ( USD Billion )
  18. Global PHEV Market By Region, From 2021-2026 ( USD Billion )
  19. Global EV Market By Region, From 2021-2026 ( USD Billion )

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