Hybrid powertrains set to race ahead in coming years
Powertrain consists of all the main components of an automotive engine from where the combustion of fuel takes place. Powertrain refers to the group of components that generate power and deliver it to the road. They include the engine, transmission, drive shafts, differentials, and the final drive. The combustion of fuel takes place in the powertrain. Therefore it can also be defined as the sum total of all the components which is required for the vehicle to convert stored energy into kinetic energy. This kinetic energy which is produced by the powertrain enables the vehicle to move.
Technologically advanced powertrain system that enables better fuel efficiency and emissions according to the government regulated standards for automotives are among the key factors that drive the powertrain market. The world over Powertrain manufacturing companies are pouring money on research and development to innovate the powertrain systems by reducing the size of engine and making the powertrain more environment- friendly without compromising on the performance of the vehicle.
The global powertrain market by geography has been segmented into North America, Europe, Asia Pacific and rest of the world. Some of the major players in the global powertrain market are General Motors Company (GM) (US), Denso Corporation (Japan), Magma International Inc. (Canada), Valeo (France), Ford Motor Company (US), Delphi Automotive PLC (US), BorgWarener Automotive Powertrain Systems Corp (U.), ZF Friedrichshafen AG (Germany), Hyundai Motor Company (South Korea), Continental AG (Germany).
The top 3 manufacturers of powertrain and powertrain components, Continental AG, ZF Friedrischshafen, and Robert Bosch AG, account for about 24% of the global market. In the Asia Pacific region, the powertrain market is projected to grow at a CAGR of 6.4% to 2020. This region comprises a vast array of markets. Japan dominates the luxury car segment, while India is a potential market for the small car, compact sedans and SUVs. The emerging business class in India and China along with the green revolution is expected to drive the powertrain market further.
Despite the growing demand for electric vehicles, hybrid powertrains have been in the world market for over a decade. They are expected to become increasingly popular globally in the coming years. It is estimated that about a million hybrids are sold a year mainly in Japan and the US. Several OEMs make their future plans estimating that up to 80% of their lightduty vehicles may require some level of hybridisation to meet the upcoming fuel efficiency norms in the US. Hybrids may soon enter on a large-scale in the European markets. They have been introduced to the Indian and Chinese markets.
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