Hybrid Powertrain Market is predicted to reach USD 349.4 billion at a CAGR of 15.20% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Hybrid Powertrain Market”.

The Hybrid Powertrain market is estimated to register a CAGR of 15.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Hybrid Powertrain market— Toyota Motor Corporation, Hyundai Motor Company, Mitsubishi Motors Corporation, Kia Corporation, Daimler AG, Nissan Motor Co. Ltd., AB Volvo, General Motors Company, Subaru Corporation, Ford Motor Company.

Market Highlights

The global Hybrid Powertrain market is accounted to register a CAGR of 15.20% during the forecast period and is estimated to reach USD 349.4 billion by 2032.

The hybrid powertrain market is experiencing significant growth, propelled by a global push for sustainable transportation solutions and increased awareness of environmental concerns. Key highlights include the rising demand for fuel-efficient vehicles, with hybrid powertrains offering a bridge between traditional internal combustion engines and fully electric vehicles. Automotive manufacturers are investing heavily in hybrid technology, developing innovative powertrain solutions to meet stringent emission standards and appeal to eco-conscious consumers.

Segment Analysis

The global Hybrid Powertrain market has been segmented based on type, vehicle type and sales channel.

On the basis of type, the market is segmented into Full Hybrid (HEV), Mild Hybrid (MHEV), and Plug-In Hybrid (PHEV). The full hybrid (HEV) segment was attributed to holding the largest market share in 2022, due to its seamless integration of electric and internal combustion propulsion.

Based on vehicle type, the global Hybrid Powertrain market has been segmented into Passenger Cars and Commercial Vehicles. The passenger cars segment was expected to hold the largest market share in 2022, due to the increasing demand for fuel-efficient and environmentally friendly personal transportation.

Based on sales channel, the global Hybrid Powertrain market has been segmented into OEM Sales, Aftermarket and Online Sales. The OEM sales segment was expected to hold the largest market share in 2022, due to the pivotal role major automotive manufacturers play in shaping industry trends.

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Regional Analysis

The global Hybrid Powertrain market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Hybrid Powertrain market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Hybrid Powertrain market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Hybrid Powertrain market comprises of Middle East, Africa, and Latin America.

The largest market share for Hybrid Powertrain was maintained by the North American regional sector. This increase is attributed to a growing consumer preference for fuel-efficient and environmentally friendly vehicles, spurred by rising awareness of climate change and stringent emission regulations. Automotive manufacturers are responding to this demand by introducing a variety of hybrid models that offer a balance between fuel efficiency and reduced carbon emissions. Government incentives, such as tax credits and rebates, further encourage the adoption of hybrid powertrains, contributing to the overall growth of the market in North America.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for Hybrid Powertrain is driven by stringent emissions regulations and the continent's strong commitment to reducing carbon footprints, prompting a surge in demand for fuel-efficient and low-emission vehicles.

Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to the region's increasing concerns about air quality and environmental sustainability, leading to a strong emphasis on adopting cleaner and more fuel-efficient transportation solutions. Government incentives, coupled with a growing consumer awareness of the benefits of hybrid vehicles, further accelerate the market growth in the region.

Furthermore, the rest of the world's Hybrid Powertrain market is divided into the Middle East, Africa, and Latin America. This growth is attributed to increasing environmental awareness, coupled with a growing emphasis on sustainable mobility solutions as governments and consumers seek to reduce carbon emissions and enhance fuel efficiency in the region's transportation sector. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.

Key Findings of the Study

• The global Hybrid Powertrain market is expected to reach USD 97.8 billion by 2032, at a CAGR of 15.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the region's increasing focus on environmental sustainability, government initiatives promoting cleaner transportation, and a growing consumer demand for fuel-efficient and eco-friendly vehicles.


• Based on type, the full hybrid (HEV) segment was attributed to holding the largest market in 2022, with an approximate market share of 45–50%.


• Toyota Motor Corporation, Hyundai Motor Company, Mitsubishi Motors Corporation, Kia Corporation, Daimler AG, Nissan Motor Co. Ltd., AB Volvo, General Motors Company, Subaru Corporation, Ford Motor Company.