Press release
Hybrid System Market: 2018 Automotive Industry Global Key Company Analysis: Robert Bosch, Delphi Automotive, Denso Corporation, Carter Fuel System, Edelbrock, NGK Spark Plug, Infineon Technologies and Keihin Corporation
Hybrid System Market in Automotive Industry Highlights:Hybrid System Market in Automotive to grow at strategic compound annual growth rate of 11.25% by forecast period of 2018 to 2023. Hybrid System in Automotive Market is majorly driven by factors such as hybrid system in automotive market are, stringent regulation for emission, increasing sales of electric driven vehicle, and increasing fuel prices is estimated to boost the market demand. The surge in the demand for electric vehicle will result in the increased use of hybrid systems in the vehicles, which will drive the market in future.
Hybrid System Market Key Companies Market Analyzed For This Research Report Are: Robert Bosch GmbH (Germany), Delphi Automotive PLC (U.K), Denso Corporation (Japan), Carter Fuel System (U.S.), Edelbrock, LLC (U.S), NGK Spark Plug Co., Ltd. (Japan), Infineon Technologies AG (Germany) and Keihin Corporation (Japan).
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The Global Hybrid System in Automotive market has witnessed significant growth in recent past. According to Automobile Association of America (AAA), lower gas prices have not inhibited enthusiasm for electric cars. As per the market research, the demand for electric car is likely to increase in the forecast period. More than 30 million Americans are likely to buy electric car as their next vehicle. This trend is majorly influenced by compliance and the commitment of general masses towards environmental concerns and carbon reduction. Heading towards APAC region, China has named itself as the leading market for electric vehicles. Over the past decade, it has been experienced that the prices of crude oil per barrel is increasing very rapidly and also the availability the crude oil is decreasing day by day. Due to these factors, the mind-set of a large pool of population is shifting their preference towards electric vehicles. In the last 3 to 4 years, the demand for electric vehicles in the United States is rapidly increasing and seen around 70% of year-over-year growth in the sales. This increase in the fuel prices will result in the growing demand for hybrid system in electric vehicle which will drive the market during forecast period.
The automotive manufacturers have started moving towards mid hybrid vehicles because the cost of manufacturing conventional vehicle is higher as compared to mid hybrid vehicle. The hybrid system in automotive constitutes various electric generated systems such as Start-Stop, Regenerative Braking, EV Drive, Others. This system enables the vehicle to reduce the emission which in turn saves the environment from its ill effects. Various components such as Battery, DC/DC Converter, DC/AC Inverter, and eMotor are integrated in the vehicle to increase the efficiency of the vehicle. Furthermore, the government of various countries have taken initiatives to increase the sales of electric vehicles. In countries such as India, Singapore, Indonesia, Brazil, and MEA regions, the government has planned to invest more and welcome several electric vehicles manufacturers to set up manufacturing plants. Companies such as Tesla Motors, Hyundai, Mahindra & Mahindra, Tata Motors and others are leading the race to roll out electric vehicles soon. Apparently, other developing countries have also taken similar initiatives to boost the production of electric vehicles. This will enable an increase in demand for the hybrid system in the vehicle. Moreover, electric vehicles are eco-friendly and have several benefits to environment. Also, the electric car owner doesn’t need any government license and other certification to run the vehicles. The market is expected to reach USD 256 billion by 2023 at a CAGR of 5.98% during the forecast period.
Regional Analysis:
On the basis of region, the market is segmented based on North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to account for the largest market in hybrid system in automotive during the forecast period due to increase in the sale of electric vehicle in this region. In Asia Pacific, China is the largest market for hybrid system and has about 40% of the electric vehicles developed in this region. Europe is the second largest market due to the presence of major automakers, increase in technological advancements and huge demand for e-cars. North America is growing at a steady rate in hybrid system because of the U.S. contributing the highest revenue in this region. The U.S. has always been the most lucrative market for electric vehicles. Over the past few years, the sales of electric vehicles in the U.S. have doubled, which means the market will generate ample revenue in the forecate period. The major factors that have driven the U.S. market are government initiatives and healthy disposable income.
Scope of the Report
This study provides an overview of the global hybrid system in automotive market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global hybrid system in automotive market by system type, component, battery type, electric vehicle type, and region
Major Table of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continued...
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