Alternative Powertrain Market Set to Surge: New Report Highlights Asia-Pacific Growth and Battery-Electric Vehicle Trends

Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Alternative Powertrain Global Market Report 2024" report has been added to's offering.

The global landscape for alternative powertrain systems is poised for impressive growth, prompting significant interest across various sectors. A newly unveiled comprehensive market research report delves into the vitality and projected expansion of the alternative powertrain market, offering a thorough analysis of current trends, forecasted growth, and regional market shares.

With an analytical lens on regions experiencing remarkable development, the report specifically underscores Asia-Pacific as the largest region within the alternative powertrain landscape as of 2023. The research also spotlights the rapid ascent of battery-electric vehicle systems as a prominent and influential trend in the market.

At the forefront of eco-conscious and efficiency-driven innovations, the alternative powertrain market is strategically positioned to reach a projected valuation of up to $269.46 billion by the year 2028. This reflects a robust compound annual growth rate (CAGR) of 19.1%, marking the sector as a high-potential investment area for stakeholders.

This new market research report is diligent in providing insights that are crucial to understanding the dynamics of alternative powertrains. It presents a crisp, in-depth analysis for entities looking to navigate this rapidly evolving industry successfully. The examination encompasses key types like battery-electric and hybrid powertrains, along with their applications ranging from commercial vehicles to passenger cars and off-highway vehicles.

With comprehensive data and predictive intelligence, the report serves as an indispensable tool for industry players aiming to capitalize on emerging opportunities and understand the factors propelling the sector's growth.

  • Advancements in battery technology
  • Increased acceptance of hybrid and electric vehicles
  • Strategic partnerships and acquisitions
  • Innovative powertrain solutions

A selection of companies mentioned in this report includes

  • Toyota Motor Corporation
  • Honda Motor Co. Ltd.
  • Hyundai Motor Group
  • BYD Company Ltd.
  • Daimler Truck AG.
  • Nissan Motor Co. Ltd.
  • Allison Transmission Inc.
  • Bayerische Motoren Werke AG
  • The General Motors Company
  • Beijing Automotive Group Co. Ltd.
  • Tesla Inc.
  • Renault-Nissan Alliance
  • Yuchai International Imp & Exp (Beijing) Co. Ltd.
  • Zhejiang Geely Holding Group Co. Ltd.
  • Volvo Car Corporation
  • Volkswagen
  • Ford Motor Company
  • Gulf Agency Company Ltd.
  • Kia and Kia Motors Corporation
  • IAV Automotive Engineering
  • Rotork Plc
  • Eaton Corporation
  • Parker Hannifin Corporation
  • Moog Inc.
  • Altra Industrial Motion India Pvt. Ltd.
  • Honeywell Corporation
  • Rockwell Automation Inc.
  • Proterra Inc.
  • Cummins Inc.
  • Ballard Power Systems Inc.
  • Plug Power Inc.
  • Hydrogenics Corporation

For more information about this report visit

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