Components of Hybrid Electric Vehicles
The global market for components of Hybrid Electric Vehicles (HEVs) should grow from $72.6 billion in 2018 to reach $150.6 billion by 2023 at a compound annual growth rate (CAGR) of 15.7% for the period of 2018-2023.
- 55 data tables and 38 additional tables
- An overview of the global market for components of hybrid electric vehicles within the industry
- Country specific data and analysis for United States, Mexico, France, Germany, U.K., China, India, Japan, Middle East and Africa
- Key components assessments for full and mild hybrids and detailed analysis of original equipment manufacturers (OEMs) related to hybrid electric vehicles
- Analyses of the components used in hybrid electric vehicles and production potential, and issues facing the sale and marketing of hybrid electric vehicles in end use markets
- Market dynamics of thirteen types of major components of hybrid systems, including engines, batteries, traction motors, generators, regenerative braking, electric power steering, electrical compressors, high-voltage wiring, electronic control units, integrated power units, converters and inverters
- Profiles of major companies in the hybrid electric vehicles market, including Aisin Seiki Co. Ltd., Blue Energy Company Ltd. (Gs Yuasa), Denso Corp, Hitachi Automotive Systems, Ltd., and Robert Bosch GmbH
Hybrid electric vehicles have become one of the most promising new markets for OEM’s. An increasing number of functions that traditionally were performed by mechanical or electrical systems are now handled by electronics. Automobiles are experiencing a technological revolution. Global warming, climate change and air quality issues have combined with the dramatic fluctuation of oil prices to deliver an imperative for motor vehicle manufacturers to introduce radically more fuel-efficient vehicles to the market.
Toyota, Honda, Ford, Chevrolet, BMW, Volvo and BYD, among others, are leading the world in car innovations including the design of highly sophisticated hybrid electric vehicles.
Market data contained in this report quantifies opportunities for manufacturers of hybrid electric vehicle components. In addition to identification of mechanical and electrical component types, it also covers the many issues concerning the merits of and prospects for the hybrid electric vehicle business. This includes corporate strategies, emerging technologies and the means for providing low cost, high technology products. Also covered in detail are the economic and technological issues regarded by many as critical to the industry’s current state of change. The report reviews the components industry related to hybrid electric vehicles and its structure and many companies involved in providing these products. Competitive positions of the major players in the market and the strategic options they face are also discussed in the report.
Values presented in the forecasted tables represent the values of components as purchased from the suppliers by OEM’s companies, excluding the cost of marketing, assembling and distribution. In this report, the term “revenue” is equivalent to and is used interchangeably with purchase, demand and sales.
BCC Publishing Staff comprises expert analysts who are skilled in conducting primary research, secondary research and data analysis and have decades of combined experience covering a wide range of industries, including healthcare, advanced materials and emerging technologies. Collectively, the team represents a diverse set of educational achievements with individual graduate work completed in fields such as microbiology, electrical engineering, business administration and surgery, among others.
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The $1.64 billion worldwide market in new components for the HEV in 2005 will continue to grow exponentially, and an AAGR of 24 % is forecasted through 2010.
Value wise, the market of nine electrical/electronics items will jump from $1,149.40 million in 2005 to $3,419.13 million in 2010, whereas market for four mechanical items will jump from $490.8 million in 2005 to $1,392.06 million in year 2010.
OEMs are increasingly looking to low-cost countries to source components as vehicle production/assembly is forecast to expand strongly in the next ten years.