According to Nova One Advisor, the global Electric Powertrain market value was estimated at US$ 71.60 billion in 2020 and is projected to reach US$ 630 billion by 2027, registering a CAGR of 33.0% from 2020 to 2027. The report contains 150+ pages with detailed analysis.
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The market for pure electric and plug-in hybrid vehicles has been growing significantly, in turn, creating an increasing demand for automotive electric powertrains. Governments in various countries are taking initiatives to promote the development of Electric Vehicles (EVs). For instance, in 2020, the U.S. Department of Energy announced a public investment of USD 400 billion in clean energy. The investment would help develop 500,000 charging outlets for electric vehicles by the end of 2030.
The rising sales of EVs have propelled prominent automotive component manufacturers to aggressively focus on developing essential EV components to gain a competitive edge. Prominent manufacturers in the market are primarily focusing on enhancing their facilities in countries, such as China and the U.S. For instance, in February 2020, Nidec Corporation invested around USD 1.9 billion to expand its EV powertrain business. The company’s three new facilities located in Poland, China, and Mexico would deliver up to 8.6 million electric motors every year.
Asia Pacific is projected to grow at a substantial CAGR over the forecast period owing to the increase in demand for EVs and the rise in the per capita income of people. Countries, such as China, South Korea, and India, are among the prominent manufacturers of automobiles. Stringent government regulations and emission norms, including BS-VI in India, are also expected to contribute to the growth of the Asia Pacific market. However, the COVID-19 pandemic has interrupted the ten consecutive years of robust growth of EVs, mainly impacting sales in countries, such as China. With factory shutdowns, declining vehicle sales, and decreasing use of public transit, the automotive supply chains have been heavily disrupted by the pandemic. Europe is a crucial market for electric powertrains and holds a substantial share of automotive production. Countries, such as Finland, Norway, Sweden, and the Netherlands, have the highest adoption rate of EVs in the world. This, along with the presence of several automotive OEMs, is estimated to drive market growth in Europe.
Highlights of the Report:
- The motor/generator component segment is anticipated to witness the fastest CAGR from 2021 to 2027
- The growth is credited to the increasing penetration of BEVs and PHEVs across the globe
- The HEV/PHEV segment is anticipated to witness the highest CAGR exceeding 36.2% over the forecast period
- This growth can be attributed to the charging flexibility benefits offered by these vehicles
- Asia Pacific is expected to expand at a high CAGR of more than 34.4% over the forecast period
- The regional market is driven by the increasing adoption of EVs in countries, such as China and India
Asia Pacific captured the largest revenue share of more than 43.1% in 2020. The high market share is attributed to the growing adoption of EVs in India and China. The increasing per capita income of individuals in these countries has significantly increased the penetration of EVs. Implementation of strict environmental regulations and emission norms, such as BS VI and China VI, is also expected to drive the growth of the regional market. Countries, such as China, are increasingly focusing their efforts on developing electric infrastructure. For instance, China’s Didi Chuxing (DiDi) and BP, a British gas, energy, and oil company, entered into a joint venture to develop EV charging infrastructure in China. Such strategic collaborations are expected to encourage the adoption of electric cars, thereby supporting regional market growth.
Europe is anticipated to emerge as a significant market for electric powertrains owing to the presence of numerous OEMs in the region. Countries, such as the Netherlands, Norway, France, and Sweden, have witnessed high adoption of EVs, which is likely to contribute to the growth of the market in the region. North America also witnesses high adoption of EVs. The region is characterized by the presence of major players, such as Tesla, Chevrolet, Ford, BMW, Nissan, and Volkswagen. Moreover, the U.S. and other countries have developed infrastructure for EVs, such as charging stations, also known as Electric Vehicle Supply Equipment (EVSE). These factors are expected to propel the demand for electric powertrains.
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Recent report on the Electric Powertrain market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the Electric Powertrain market analyzes the scenario for the period of 2017 to 2027, wherein, 2021 is the base year and 2020 is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global Electric Powertrain market for the forecast period of 2021–2027. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.
The report analyzes the historical and present-day scenario of the global Electric Powertrain market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the Electric Powertrain market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the market.
The report delves into the competition landscape of the global Electric Powertrain market. Key players operating in the market have been identified and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the Electric Powertrain market that are profiled in this report.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The Electric Powertrain market is analyzed at both regional and country levels.
Some of the prominent players in the Electric Powertrain Market include: BorgWarner; Bosch Ltd.; Mitsubishi Electric Corp.; Magna International Inc.; Schaeffler AG; ZF Friedrichshafen AG; Valeo; Nidec Corp.; Continental AG; Magneti Marelli CK Holdings
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
- By Electric Vehicle
- By BEV Electric Powertrain, By Component
- Power Electronics Controller
- On-Board Charger
- HEV/PHEV Electric Powertrain, By Component
- Power Electronics Controller
- On-Board Charger
A unique research methodology has been utilized to conduct a comprehensive research on the growth of the global Electric Powertrain market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions. Secondary sources referred to by analysts during the production of the global market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from mattress topper industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global Electric Powertrain market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped to estimates the future prospects of the global market more reliable and accurate.
Key Questions are
- What are the key factors influencing the Electric Powertrain market in each region?
- How much value will the global market generate by the end of the forecast period?
- What will be the CAGR of the global market between 2021 and 2027?
- What would be the Y-o-Y growth trend of the global market between 2021 and 2027?
- What is the future scope and current trends in technologies of the global market?
- What is the revenue of the global market based on segments?
- Which key strategies are used by top players of the global market?
- Which are the leading companies in the global market?
- What are the essential strategies by key stakeholders in the market to expand their geographic presence?
- What are the major advancements witnessed in the global market?
Why should you invest in this report?
If you are aiming to enter the global Electric Powertrain market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Electric Powertrain are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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