Market Leader - Hybrid System Market
The rising demand for higher fuel efficiency and stringent emission regulations by governments have fueled the adoption of hybrid and electric vehicle technologies, which in turn has resulted in the growth of the hybrid system market. The hybrid system market is projected to grow at a CAGR of 10.79% from 2017 to 2022, to reach USD 40.99 billion by 2022.
Expansion, agreements, and new product development have been the key strategies adopted by the leading players to gain traction in the hybrid system market. For instance, Bosch has developed a 48V mild hybrid system for gasoline vehicles, which consists of a converter, motor, and batteries. Continental and NIO, a global electric vehicle startup, signed a strategic cooperation framework agreement. The two companies will cooperate in the field of fully electric vehicles, intelligent transportation systems, automated driving, and other relevant fields.
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The hybrid system market is dominated by a few global players and comprises several regional players such as Bosch (Germany), Continental (Germany), Valeo (France), and ZF (Germany). Robert Bosch GmbH (Germany) is a leading player in the hybrid system market. The company is one of the world’s largest independent part suppliers to the automotive industry. The company operates through 4 divisions, namely, mobility solutions, industrial technology, consumer goods, and energy and building technology. New product development and expansion are the key strategies adopted by the company to gain traction in the market. In January 2015, Bosch invested USD 1,107.8 million for a new plant in Nanjing, China. The plant will start by 2019 and will manufacture Boschs iBoosters. In June 2016, Bosch developed a 48V mild hybrid system for gasoline vehicles, which consists of a converter, motor, and batteries.
Continental AG (Germany) is a global manufacturer of tires, automotive parts, and industrial products. The company operates through 5 business units, namely, chassis and safety, powertrain, interiors, tires, and ContiTech. Continental is one of the first few companies to develop a 48V architecture for hybrid electric vehicles. New product development and joint venture are the key strategies adopted by the company to gain traction in the market. In May 2017, Continental began the production of 12-volt DBM (dual battery management solution) for micro-hybrid vehicles of A, B and C segments in Tianjin. Micro-hybrid cars with lithium batteries and DBM solutions have a 4% higher fuel efficiency than conventional micro-hybrid vehicles. Continental and NIO, a global electric vehicle startup, signed a strategic cooperation framework agreement. The two companies will cooperate in the field of fully electric vehicles, intelligent transportation systems, automated driving, and other relevant fields.
Related Reports:
Hybrid System Market by System (Start-Stop, Regenerative Braking, EV Drive, eBoost), Component (Battery, DC/DC Converter, DC/AC Inverter, eMotor), Battery (Li-Ion, Lead Acid, NiMH), Vehicle (Mild Hybrid, HEV, PHEV, EV) - Global Forecast to 2022
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