Global Alternative Powertrain Market to Witness Impressive Growth, Led by Technological Advancements and Rising Demand for Fuel-Efficient Vehicles

DUBLIN, July 19, 2023 /PRNewswire/ -- The "Alternative Powertrain Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The market is projected to grow from $90.61 billion in 2022 to $109.50 billion in 2023, at a compound annual growth rate (CAGR) of 20.8%. Furthermore, the market is expected to reach $225.87 billion in 2027, with a CAGR of 19.8%.

Leading players in the alternative powertrain market include Toyota Motor Corporation, Honda Motor Co. Ltd., Hyundai Motor Group, BYD Company Ltd., Daimler Truck AG., Nissan Motor Co. Ltd., Allison Transmission Inc., BMW AG, The General Motors Company, BAIC Group, Tesla Inc., Renault-Nissan-Mitsubishi, Yuchai International Imp & Exp (Beijing) Co. Ltd., Geely Auto, and Volvo Cars.

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Alternative powertrains encompass propulsion systems that are not solely reliant on the traditional internal combustion engine. The major types of alternative powertrains are battery-electric vehicle powertrains and hybrid powertrains. Battery-electric vehicles utilize rechargeable battery packs to store chemical energy, and they find application across various sectors such as commercial vehicles, passenger cars, and off-highway vehicles.

This comprehensive alternative powertrain market research report offers vital statistics, including global market size, regional shares, competitor analysis, detailed market segments, trends and opportunities, and other essential data to thrive in the alternative powertrain industry. It provides a complete perspective of the current and future scenario of the industry through in-depth analysis.

Technological advancements play a crucial role in the alternative powertrain market's growth trajectory. Major companies in the market are focusing on developing new technologies to enhance their market position.

For instance, US Hybrid recently launched a near-zero-emission, natural gas-powered parallel hybrid powertrain technology for drayage and long-haul trucks. This innovative technology offers enhanced power, range, and efficiency compared to diesel-powered engines or other alternatives. By incorporating such advancements, fleet operators can provide near-zero-emission roadside charging assistance, ensuring flexibility and convenience for their clients.

Asia-Pacific emerged as the largest region in the alternative powertrain market in 2022. The report covers key regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Additionally, the report includes analysis of countries including Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the USA.

The rising demand for fuel-efficient vehicles is expected to drive the growth of the alternative powertrain market. Fuel-efficient vehicles, with advanced alternative powertrains, contribute to lowering fuel consumption and improving overall fuel efficiency. This aligns with the increasing focus on sustainability and energy efficiency in the automotive industry.

The alternative powertrain market encompasses various types of powertrains, including four-wheel drive, all-wheel drive, rear-wheel drive, and front-wheel drive. The market value represents the revenues generated by enterprises from the sale of goods and services within the specified market and geography, in terms of USD.

Key Topics Covered:

1. Executive Summary

2. Alternative Powertrain Market Characteristics

3. Alternative Powertrain Market Trends And Strategies

4. Alternative Powertrain Market - Macro Economic Scenario
4.1. COVID-19 Impact On Alternative Powertrain Market
4.2. Ukraine-Russia War Impact On Alternative Powertrain Market
4.3. Impact Of High Inflation On Alternative Powertrain Market

5. Alternative Powertrain Market Size And Growth
5.1. Global Alternative Powertrain Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Alternative Powertrain Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Alternative Powertrain Market Segmentation
6.1. Global Alternative Powertrain Market, Segmentation By Powertrain, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Battery Electric Vehicle Powertrain
• Hybrid Powertrain

6.2. Global Alternative Powertrain Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Battery
• Motor Or Generator
• Battery Management System (BMS)
• On-Board Charger

6.3. Global Alternative Powertrain Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Commercial Vehicle
• Passenger Cars
• Off Highway

7. Alternative Powertrain Market Regional And Country Analysis
7.1. Global Alternative Powertrain Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Alternative Powertrain Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/lc6uup

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