DUBLIN--(BUSINESS WIRE)--The "Global Hybrid System Market Insights, Opportunity Analysis, Market Shares and Forecast 2017 - 2023" report has been added to ResearchAndMarkets.com's offering.

The key factors driving the market growth are growing automotive industry, increased fuel efficiency with the adoption of mild hybrids, rising government incentives for the adoption of mild hybrids and increasing demand for higher voltage systems to increase hybridization.

Asia Pacific is the largest region for global hybrid system market in terms of market revenue share. The key factors driving the market growth in Asia Pacific is the increasing sales of electric vehicles in its developing countries such as India, China, Japan, etc. Furthermore, Government of China is working towards transitioning towards the adoption of hybrid systems in order to end the production and sales of gasoline and diesel automobiles. However, North America is anticipated to emerge as the fastest growing region during the forecast period 2016-2023. This is due to the stringent Corporate Average Fuel Economy (CAFE) standards in U.S. which has supported the adoption of electric and hybrid vehicles in North America to enhance the fuel economy of light trucks and cars.

The global hybrid system market is influenced by the presence of leading companies such as Bosch, Delphi Automotive, Hitachi Automotive, Infineon Technologies, Magna International Inc., etc. Product launch, joint venture, merger and acquisition are some of the crucial strategies adopted by the key market players to gain competitive advantage.

Market Determinants

Market Drivers

  • Growing Automotive Industry
  • Increased Fuel Efficiency With the Adoption of Mild Hybrids
  • Rising Government Incentives for the Adoption of Mild Hybrids
  • Increasing Demand for Higher Voltage Systems to Increase Hybridization

Market Restraints

  • Lack of Standardization of Hybrid Technologies

Market Opportunities

  • Growing Electric Vehicle Infrastructure
  • Electrification and Hybridization in the Commercial Vehicles

Market Challenges

  • Cost Reduction and High-Energy Density EV Batteries

Companies Mentioned

  • Adgero Hybrid Systems (France)
  • Bosch (Germany)
  • Continental Ag(Germany)
  • Delphi Automotive (China)
  • Denso (Uk)
  • GKN Plc (Uk)
  • Hitachi Automotive (Japan)
  • Hybrid Systems (U.S.)
  • Infineon Technologies (South Korea)
  • Johnson Controls (U.S.)
  • Magna International Inc. (Canada)
  • Odyne Systems Llc (U.S.)
  • Schaeffler (Germany)
  • Valeo (France)
  • ZF Friedrichshafen Ag (Germany)

For more information about this report visit https://www.researchandmarkets.com/research/tvvx6c/global_hybrid?w=4

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Related Topics: Electric and Hybrid Vehicles