Hybrid Transmission Market Revenue, Major Players, Consumer Trends, Analysis – IndustryARC
Market Research Reports, Business Consulting Services & Analytics
Increasing Demand of Electric Vehicles is Going to Boost Hybrid Transmission Market.
HYDERABAD, TELANGANA, INDIA, February 8, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that 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. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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https://www.industryarc.com/Report/19242/hybrid-transmission-market.html
Key takeaways:
1. The increasing demand of fuel efficient and eco-friendly vehicles is boosting the hybrid transmission market. As hybrid transmission are widely used in electric vehicle, which is going to provide huge growth to hybrid transmission market.
2. In 2019 Hybrid electric vehicles helds the major share in hybrid transmission market, As hybrid electric vehicle uses hybrid transmission on large scale as hybrid transmission comprises of internal combustion engine and an electric motor which provides better fuel efficiency and low CO2 emission.
3. Hybrid Transmission Market is dominated by APAC region. The presence of electric vehicles producing countries such as China, Japan and others, owing to provide huge growth to hybrid transmission systems market.
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Segmental Analysis:
1. 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.
2. 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.
3. The Hybrid Transmission Market is dominated by APAC region and it is expected to grow at 7.45% during the forecast period. 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.
Competitive Landscape:
The top 5 players in the Hybrid Transmission industry are -
1. AVL List GmbH
2. Magna International (Getrag)
3. Allison Transmission Inc.
4. Involution Technologies
5. ZF Friedrichshafen AG
Click on the following link to buy the Hybrid Transmission Market Report:
https://www.industryarc.com/reports/request-quote?id=19242
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