The automobile sector has undergone remarkable evolution in the last 30 years, the most occurring in powertrain technology. Alternative powertrain consist of a propulsion system that does not depend upon the popular internal combustion engine. Alternative powertrain consist of hybrids engine, full battery electric, hydrogen fuel cell, compress air, gasoline kit, and others. There is significant excitement surrounding the electrical vehicles. The current powertrain technology in the automotive industry includes spark-ignited (gasoline) engines, compression engines (diesel), and electric.
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Furthermore, there are numerous variations on how this technology is implemented in the automotive industry such as spark-ignition internal combustion engines (gasoline), direct injection, homogeneous charge compression injection, compression ignition internal combustion engines (diesel or biodiesel), hybrid electrical vehicles (gasoline or diesel), plug-in electric vehicles, plug-in hybrid electric vehicles, extended range plug-in electric vehicles, and battery electric vehicles.
The global alternative powertrain market can be segmented based on components, vehicles, and region. In terms of components, the alternative powertrain market can be segmented into engines, transmission, drive shaft, differentiation, and final drive. Rise in the number of vehicles across the globe has led to the increase in carbon dioxide emission. Most counties have strict policies on automobiles in order to protect the environment from the increase in CO2 emission. The automobile manufacturer to produce more fuel-efficient vehicles with a less CO2 emission which in turn to increasing the demand for alternating powertrain.
In terms of vehicle, the alternative powertrain market can be segmented into commercial vehicles and passenger vehicles. The passenger vehicles segment can be further sub-segmented into hatchback, sedan, MPV, and others. The number of passenger vehicles in the market is very high. The commercial vehicles segment can be further sub-segmented into light commercial vehicles and heavy commercial vehicles.
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Geographically, the alternative powertrain market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In the U.S., commercial vehicles utilize more than a quarter of all fuel burned annually. As economies grow, the number of commercial vehicles is expected to rise, and commercial and government fleet operators around the world are likely to consider investments in fuel efficiency technologies and alternative powertrains.
Global commercial alternative powertrain for light and heavy commercial vehicles is increases. This is likely to propel the alternative powertrain market during the forecast period. Countries such as China, Europe, and the U.S. have strict emission regulation coupled with increase in consumer awareness about fuel efficiency and gaining the advantages of electric vehicles, hybrid vehicles, flexible fuel vehicles, and natural gas vehicles is significantly increasing the automotive powertrains by engine fuels.
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