The growing emission awareness among the population and other major driving factors is expected to favour the rise in the global Hydrogen/BEV/HEV Powertrain market
Reports and Insights has published a new report titled, “Hydrogen/BEV/HEV Powertrain Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Hydrogen/BEV/HEV Powertrain Market, By Vehicle Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Fuel Cell Vehicle (FCV)), By Powertrain (BEV Powertrain, MHEV Powertrain, Series Hybrid Powertrain, Parallel Hybrid Powertrain, Series- Parallel Hybrid Powertrain), By Position/Drive Type (Front-Wheel Drive (Fwd) Powertrain, Rear-Wheel Drive (Rwd) Powertrain, All-Wheel Drive (Awd) Powertrain), By Component (HEV/PHEV Powertrain Component (Motor/ Generator, HV Battery, 12V Battery, Controller, DC/AC Inverter, DC/AC Converter), Power Distribution Module, BEV Powertrain Component (Motor/ Generator, HV Battery, 12V Battery, Controller, DC/AC Inverter, DC/AC Converter, Power Distribution Module), 48V MHEV Powertrain Component (48V Battery, 12V Battery, Battery Management System, DC/AC Inverter, DC/AC Converter, 48V BSG/ISG)), By Design (Parallel Hybrid Powertrain, Series Hybrid Powertrain, Power-Split Hybrid Powertrain), By Application (Passengers Cars, Light Commercial Vehicles, Heavy Commercial Vehicles) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global Hydrogen/BEV/HEV powertrain market in 2020 is estimated for more than US$ xx Bn and expected to reach a value of US$ xx Bn by 2028 with a significant CAGR of xx%.
As long as the origination of the first modernistic automobile roughly about a century and a half ago, there has been one supreme engine alternative on the market - the gasoline internal combustion engine. As of now, the gasoline internal combustion engine has some adversaries competing to seize the crown. There have been numerous different kinds of engines in the former times but most of them confided exclusively on fossil fuels to function. In recent times, on the account of growing emission awareness as well as fuel economy standards, a new genre of engines is appearing. The majority of these are regulated on electricity to assist in powering the vehicle.
Hydrogen fuel cell vehicles are one of the types of electric vehicle, in which the fundamental fuel is hydrogen (H2), alongwith oxygen (O2) being the latter element of the fuel. In the next place, in the HEV powertrain, instead of providing propulsive torsion to put the vehicle into motion, the engine majorly functions in converting potential energy from fuel to mechanical energy which is further transformed into electrical energy utilizing a generator. Ultimately, the electrical energy is employed to boost the motor through an inverter.
Additionally, the Battery Electric Vehicles (BEVs), also known as pure electric vehicles, possesses the easiest powertrain architecture comprising an electric motor with power electronics controller, a high voltage battery, and a single speed gearbox. BEVs have a hybrid powertrain, which means an internal combustion engine along with an electric motor, if it is needed to distinguish them from Hybrid Electric Vehicles (HEVs).
The rapidly evolving electric vehicle industry as well as growing emission awareness among the population is one of the prime factors which is majorly responsible for the shift in preference from conventional ICE vehicles to electric vehicles, ultimately propelling the growth of the global hydrogen/BEV/HEV powertrain market.
The swift technological advancements and innovations in the automotive industry is further estimated to contribute to the positive market growth in the following years. Also, the HEV/BEVs are believed to be the cleaner, easier and more convenient alternatives in contradiction to the conventional vehicles, which is further estimated to assist in cutting off the emissions caused by transportation. Such factors are projected to provide immense breakthroughs to the market growth over the forecast period.
Reports and Insights Study identifies some of the key participating players in the Hydrogen/BEV/HEV powertrain market globally are Bosch, Mitsubishi Electric, Magna International, Continental AG, Hitachi, Ballard Power Systems, Cummins Inc., Denso Corporation, FEV, Knorr-Bremse Group., Punch Powertrain Nanjing Co Ltd., Magneti Marelli S.p.A., The Voith Group, JATCO Ltd., ZF Friedrichshafen, Aisin Seiki Co., Ltd., Borgwarner Inc., BAE Systems plc, among others.
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