PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1684285
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1684285
Automotive Parallel Hybrid Power System Market, By Component, By Vehicle, By Propulsion, By Application, By Technology, By Country, and By Region - Global Industry Analysis, Market Size, Market Share & Forecast from 2025-2032
REPORT HIGHLIGHT
Automotive Parallel Hybrid Power System Market size was valued at US$ 63,210.32 Million in 2024, expanding at a CAGR of 8.60% from 2025 to 2032.
An automotive parallel hybrid power system is a hybrid vehicle architecture in which an internal combustion engine (ICE) and an electric motor propel the vehicle. A key benefit of a parallel hybrid system is optimal fuel economy and fewer emissions without compromising the level of performance or driving distance that is the hallmark of any regular vehicle. ICE is given over to deal with higher speed or longer distance running, whereas the electric motor produces power at lower speed or under stop-and-go traffic, cutting fuel consumption and the overall amount of emissions. Parallel hybrid systems are a balanced approach to the design of hybrid vehicles, with the benefits of electric and conventional power but not the limitations of either.
Automotive Parallel Hybrid Power System Market- Market Dynamics
Rising demand for fuel-efficient vehicles is propelling the growth of the parallel hybrid power system market as global fuel prices continue to swing. Furthermore, increasing emission regulations, especially in Europe and North America, drive automakers to develop hybrid solutions. The convenience of a parallel hybrid system, where the vehicle can shift and operate both on electric power and gasoline power seamlessly, further propels market growth. Due to the market shift towards electric mobility, the drawbacks of fully electric vehicles in charging infrastructure and their range anxiety create lucrative growth opportunities. The driving force for hybrids is also in emerging markets, such as China & India, where vehicle sales are growing significantly. The development of advanced battery technologies, such as solid-state batteries, will likely improve hybrid systems' efficiency further. However, high production costs of battery-making push up vehicle prices and make them unaffordable to budget-conscious buyers. Moreover, the hybrid powertrain is also more complex, which would make maintenance & repair more difficult, thus deterring some consumers from purchasing such vehicles.
Automotive Parallel Hybrid Power System Market- Key Insights
The electric motor segment is expected to dominate the market due to its crucial role in providing efficient power delivery in hybrid systems. Hybrid vehicles are rising, and the demand for high-performance electric motors is expected to grow.
The fastest-growing segment among vehicle types is the mild hybrid system. It is very attractive to consumers looking for better fuel economy at a lower price without needing large battery packs for cost-effective fuel efficiency improvements.
North America dominates the parallel hybrid market, driven by strong consumer demand for fuel-efficient vehicles and government regulations favoring reduced emissions.
The parallel hybrid market is growing at an excellent rate in the Asia Pacific region, mainly due to strong hybrid adoption in China and India. Urban pollution reduction and fuel efficiency improvements are the reasons for this growth.
Automotive Parallel Hybrid Power System Market- Segmentation Analysis:
The Global Automotive Parallel Hybrid Power System Market is segmented on the basis of Component, Vehicle, Propulsion, Application, Technology, and Region.
By technology, the market is divided into regenerative braking systems, start-stop systems, and electric-assist systems. Regenerative braking systems dominate the market due to their crucial role in energy recovery and efficiency enhancement. In hybrid vehicles, regenerative braking systems convert kinetic energy into electrical energy, which is stored in the battery to reduce the total fuel consumption. Regenerative braking systems are utilized in more than 90% of hybrid vehicles sold worldwide. The technology is also driven by the ability of regenerative braking to enhance fuel efficiency by up to 30% in city driving conditions where frequent stop-and-go are encountered. The start-stop system is the fastest-growing technology segment in the market. The increased adoption of start-stop systems is highly significant in urban areas where there is increased traffic congestion and, therefore, idling times are prolonged. As governments of countries across the world impose stricter fuel economy and emission standards, the start-stop system comes as a convenient solution for manufacturers to comply with these standards while enhancing the fuel economy for consumers in urban driving conditions.
By vehicle, the market is divided into passenger cars, commercial vehicles, and two-wheelers. The passenger cars segment leads the market due to the demand for fuel-efficient vehicles in developed regions such as North America and Europe, supported by hybrid adoption from government incentives and stringent emission standards. Hybrid passenger cars yield an ideal balance in performance and fuel efficiency while offering reduced emissions, a popular alternative for customers who are conscious about the environment without compromising the driving experience. In addition, car manufacturers are innovating and expanding their hybrid vehicle portfolios, fueling market growth in the passenger car segment. Two-wheelers are the fastest-growing segment in the market, as increasing urbanization in emerging economies, especially in Asia, is increasing the demand for two-wheelers as a common mode of transportation. Hybrid two-wheelers have improved fuel efficiency and lower emissions, which align with consumer needs and more stringent environmental regulations. This results in ever-more attractive and enticing hybrid two-wheelers for everyday commuting and long travel miles compared to fuel costs.
Automotive Parallel Hybrid Power System Market- Geographical Insights
Automotive Parallel Hybrid Power System Market- Competitive Landscape:
Recent Developments:
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL AUTOMOTIVE PARALLEL HYBRID POWER SYSTEM MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
GLOBAL AUTOMOTIVE PARALLEL HYBRID POWER SYSTEM MARKET, BY COMPONENT- MARKET ANALYSIS, 2019 - 2032
GLOBAL AUTOMOTIVE PARALLEL HYBRID POWER SYSTEM MARKET, BY VEHICLE- MARKET ANALYSIS, 2019 - 2032
GLOBAL AUTOMOTIVE PARALLEL HYBRID POWER SYSTEM MARKET, BY PROPULSION- MARKET ANALYSIS, 2019 - 2032
GLOBAL AUTOMOTIVE PARALLEL HYBRID POWER SYSTEM MARKET, BY APPLICATION- MARKET ANALYSIS, 2019 - 2032
GLOBAL AUTOMOTIVE PARALLEL HYBRID POWER SYSTEM MARKET, BY TECHNOLOGY- MARKET ANALYSIS, 2019 - 2032
GLOBAL AUTOMOTIVE PARALLEL HYBRID POWER SYSTEM MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032
Table of Contents
1. Automotive Parallel Hybrid Power System Market Overview
- 1.1. Study Scope
- 1.2. Market Estimation Years
2. Executive Summary
- 2.1. Market Snippet
- 2.1.1. Automotive Parallel Hybrid Power System Market Snippet By Component
- 2.1.2. Automotive Parallel Hybrid Power System Market Snippet By Vehicle
- 2.1.3. Automotive Parallel Hybrid Power System Market Snippet By Propulsion
- 2.1.4. Automotive Parallel Hybrid Power System Market Snippet By Application
- 2.1.5. Automotive Parallel Hybrid Power System Market Snippet By Technology
3. Automotive Parallel Hybrid Power System Key Market Trends
4. Automotive Parallel Hybrid Power System Industry Study
5. Automotive Parallel Hybrid Power System Market: Impact of Escalating Geopolitical Tensions
6. Automotive Parallel Hybrid Power System Market Landscape
7. Automotive Parallel Hybrid Power System Market - By Component
8. Automotive Parallel Hybrid Power System Market - By Vehicle
9. Automotive Parallel Hybrid Power System Market - By Propulsion
10. Automotive Parallel Hybrid Power System Market - By Application
11. Automotive Parallel Hybrid Power System Market - By Technology
12. Automotive Parallel Hybrid Power System Market- By Geography
13. Key Vendor Analysis- Automotive Parallel Hybrid Power System Industry
14. 360 Degree Analyst View
15. Appendix
