Global Hybrid and Electric Vehicle Integrated Drive Unit Market to Reach 4.6 Million Units by 2027
Amid the COVID-19 crisis, the global market for Hybrid and Electric Vehicle Integrated Drive Unit estimated at 3.7 Million Units in the year 2020, is projected to reach a revised size of 4.6 Million Units by 2027, growing at aCAGR of 3% over the period 2020-2027. Fully Electric Vehicles, one of the segments analyzed in the report, is projected to record 2.8% CAGR and reach 2.9 Million Units by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hybrid Electric Vehicles segment is readjusted to a revised 3.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at 1.1 Million Units, While China is Forecast to Grow at 2.8% CAGR
The Hybrid and Electric Vehicle Integrated Drive Unit market in the U.S. is estimated at 1.1 Million Units in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 814 Thousand Units by the year 2027 trailing a CAGR of 2.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 2.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR.We bring years of research experience to this 7th edition of our report. The 109-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- BorgWarner, Inc.
- Bosch Mobility Solutions
- Continental AG
- GKN PLC
- Siemens AG
- ZF Friedrichshafen AG