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The global plug-in hybrid electric vehicle powertrain market is expected to exhibit a CAGR of 18.80% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
A plug-in hybrid electric vehicle (PHEV) powertrain refers to an assembly of several critical components that work together to transfer energy from the battery system of the vehicle to the motors. It primarily consists of a power distribution module, inverter, battery pack, DC-AC converter, electric motor, and onboard charger. A plug-in hybrid electric vehicle's powertrain has 60% fewer parts than an internal combustion engine and more potent batteries that enable faster acceleration. It is a compact, lightweight system that produces instant torque and generates extremely low vibrations.
The expanding automotive industry along with the continuous electrification of powertrain components is primarily driving the global plug-in hybrid electric vehicle powertrain market. In addition to this, the inflating need for lightweight driveshafts to enhance fuel efficiency and improve vehicular performance is also creating a positive outlook for the market. Furthermore, the growing consumer concerns towards the detrimental effects of greenhouse gas emissions on the environment are also catalyzing the demand for PHEVs, thereby propelling the market growth. Apart from this, numerous government bodies across the globe are introducing stringent emission regulations and fuel economy norms to reduce carbon footprints, which, in turn, is acting as a significant growth-inducing factor. These organizations are also providing purchase grants, related incentives, tax rebates, utility rate reductions, and parking privileges to encourage the adoption of PHEVs. Moreover, continuous improvements in powertrain technology, such as the introduction of piezoelectric devices that reduce the size of the battery while also improving the range and accelerating battery charging, are expected to drive the global plug-in hybrid electric vehicle powertrain market in the coming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global plug-in hybrid electric vehicle powertrain market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, powertrain type, position type and vehicle type.
Breakup by Component:
Breakup by Powertrain Type:
Breakup by Position Type:
Breakup by Vehicle Type:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis||2021|
|Segment Coverage||Component, Powertrain Type, Position Type, Vehicle Type, Region|
|Region Covered||North America, Asia Pacific, Europe, Latin America, Middle East and Africa|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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