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Electric Powertrain Market Growth Factors:
Increasing sales of electric vehicles owing to stringent government norms in various regions to curb the carbon footprint along with various environmental protection laws for automotive sector expected to drive the overall market growth of electric powertrain. In the wake of same, governments of different regions also offer attractive incentives and policies to spur the adoption of electric and battery-powered vehicles in the region.
Electric Powertrain Market Report Scope
|Market Size||USD 200 Billion by 2027|
|Growth Rate||CAGR of 13.8% from 2021 to 2027|
|Largest Market||Asia Pacific|
|Fastest Growing Market||Europe|
|Forecast Period||2022 to 2027|
|Segments Covered||Product, Application, Region|
With technological development, the industry is approaching an extensive powertrain mix as the automotive industry is shifting its trend towards more efficient and environmentally friendly transportation. The overall powertrain landscape is slowly becoming dynamic and complex with the emergence of the electric powertrain. The rate of adoption of electric powertrain would be dependent on four major factors, namely technology, infrastructure, regulations, and consumer preference.
The penetration of PHEVs and BEVs would strongly determine the current as well as future adoption of electric powertrain globally. Europe and U.S. seeks rigorous regulations related to the carbon emission. Leading its way, Europe has fixed its emission limits of 95 g/km by the year 2020 and aimed at further reduction of 37.5 percent by 2030 that would result in a limit of 59 g/km. Similarly, North America has set its emission limit at over 99 g/km following passenger-vehicle Corporate Average Fuel Economy (CAFE) standards for the year 2025. To meet the targets for emission and avoid penalties, numerous OEMs have increased their focus towards electric vehicle production.
Electric Powertrain Market Report Highlights
- In 2019, the Asia Pacific emerged as the global leader with a value share of approximately 60% attributed to the rising adoption of electric vehicles in emerging countries such as India and China
- Europe is projected to be a significant market for electric powertrain owing to the presence of numerous OEMs along with significant rate of adoption for EV
- By electric vehicle, the BEV segment dominated the market with nearly 70% of value share in 2019 due to stringent government policies to regulate the carbon emission
- HEV/PHEVs analyzed to witness prominent growth over the forecast period due to its specific design that enhances the application of IEC in interaction with electric powertrain
- Based on component, the battery segment led the global electric powertrain market accounting for a value share of nearly 36% in the year 2019
- Motor/generator component expected to show lucrative growth over the analysis period attributed to the escalated penetration of PHEV and BEV across the globe
The report has engulfed a chapter on the global electric vehicle market’s competitive landscape, which provides detailed analysis and insights on companies offering electric vehicle. Profiles of key companies, along with a strategic overview of their M&A and expansion plans across geographies, have been delivered in this chapter.
This chapter is priceless for report readers, as its enables them in gauging their growth potential in the market and implement key strategies for extending their market reach. This chapter offers key recommendations for both new and existing market participants, enabling them to emerge sustainably and profitably. Intelligence on the market players has been delivered on the basis of their product overview, SWOT analysis, key developments, key financials and company overview. Occupancy of these market participants has been tracked by the report and portrayed via an intensity map.
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some of the prominent players in the electric powertrain market include:
- Bosch Limited
- Mitsubishi Electric Corp.
- Schaeffler AG
- Magna International Inc.
- ZF Friedrichshafen AG
- Nidec Corporation
- Continental AG
- Magneti Marelli Ck Holdings
Electric Powertrain Market Segments
By Electric Vehicle
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle/Plug-in Hybrid Electric Vehicle (HEV/PHEV)
- Power Electronics Controller
- On-board Charger
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Middle East & Africa [GCC, North Africa, South Africa]
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2019 to 2027. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global electric powertrain market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the electric powertrain market.
The report includes country-wise and region-wise market size for the period 2019-2027. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2019-2027.
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.
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