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North American Class 6-8 Truck Hybrid Powertrain Systems Market
Frost & Sullivan, April 2009, Pages: 410
This study offers comprehensive analysis of the original equipment market for hybrid powertrain systems for Class 6-8 trucks in North America. The study drills down on the markets for energy storage systems, control and power electronics, and rotating machines for Class 6-8 hybrid trucks. The market metrics and forecasts for batteries, hydraulic accumulators-reservoirs, ultracapacitors, control electronics, power electronics, electric traction motors and hydraulic pump-motors are analyzed in detail. This study aims to prepare market participants with multidimensional intelligence and analysis of various hybrid powertrain systems and markets to enable them to grow in this developing market.
North American Heavy-truck Hybrid Powertrain Systems Market Gets the Green Signal
The class 6-8 truck market is steadily going green as environment-friendly powertrain technologies based on innovative propulsion technologies have started percolating from the light vehicle market down to the heavy-truck market. This trend has set off a spate of technology innovations, the most compelling being hybrid powertrain technology. North American truck makers and suppliers of key hybrid powertrain technologies are cashing in on the technology’s benefits of high fuel efficiency, low emissions, reduced maintenance expenditure, greater vehicle power, lower dependence on foreign oil, and environmental stewardship. “Moreover, the fuel price volatility and strengthening emission and idling regulations accelerate the development and introduction of hybrid powertrain systems for application in various heavy-truck vocations,” says the analyst of this research. “Market participants are now developing fundamentals that will support the long-term organic growth of the Class 6-8 hybrid powertrain systems market.”
The volatility of fuel prices and government incentives to adopt green technologies are strengthening the business case for hybrid powertrain systems. The technology’s robust ROI and payback potential have caught the attention of the truck makers, which have started considering hybrid trucks as an integral component of their product lines and growth strategies for the short and medium terms. Not only do hybrid powertrain systems create a new revenue stream, but they also offer a comprehensive solution to fleets and owner-operators to counter operating and regulatory compliance challenges. Technological advances are getting top billing in the market due to the involvement of large fleets, logistics majors, government agencies, and potential end-user groups belonging to private and for-hire fleets, as well as vocational and on-highway fleets. System sophistication, combined with design modifications in truck design and governmental and regulatory support can aid the development of commercial trucks offering comprehensive fuel savings.
Truck Manufacturers to Thresh out Price Reduction Strategies In-house to Stay Competitive
For all its advantages, hybrid trucks still have to deal with the issue of high upfront and lifecycle costs compared to conventional trucks. As it is only an emerging technology, the lack of standardization, economies of scale, and comprehensive hybrid powertrain solutions for a wide range of heavy-truck vocations has caused its prices to inflate. The higher prices also delay the break-even point, making it unfeasible for truck owners of certain vocations. Further, the battery replacement costs (in case of diesel-electric hybrids) raise the lifecycle cost of electric hybrid trucks, and thereby, the affordability barrier. Market participants cannot hope to achieve significant economies of scale until the line-haul Class 8 truck operators start adopting hybrid trucks in large numbers. They will also have to be wary about the price premiums of hybrid powertrain component parts such as batteries, ultracapacitors, hydraulic accumulators-reservoirs, traction motors, pump-motors, as well as power and control electronics.
Nevertheless, it is possible to convert the upfront cost differential challenge into a growth opportunity, if the truck makers focus on in-house price reduction strategies. They will have to back up those tactics with lobbying for rapid introduction of broad-based government incentives and tax-credits and attractive financing programs. They can lower the overall price of their systems by nurturing supply-chain relationships with developers and suppliers of key components and sub-systems to induce price declines at each level of the supply chain. Suppliers can further enhance profitability through low-cost sourcing, production of electronic systems, and advanced manufacturing processes. “Companies that are working closely with potential end-user groups to understand their needs can focus their R&D efforts on the most pertinent technologies,” notes the analyst. “This will help them streamline product development expenditure to enable the development of systems that do not present significant cost burdens to truck makers.”
Developing strong fundamental baseline technologies for diverse hybrid powertrain system architectures and designs for a wide array of applications can also help suppliers strategically price their systems. Suppliers that liaise with key component and sub-system suppliers to create long-term contracts that are supported by lean and strong supply chains will be better positioned to meet the price expectations of truck makers and consumers. “Strategic partnerships with technology leaders and development of flexible and easily upgradeable technology platforms can also provide growth impetus to market participants,” observes the analyst.
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