Verified Market Research® is pleased to introduce its latest report, “Electric Powertrain Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2031.” This in-depth market analysis is essential for industry leaders, OEMs, component manufacturers, and investors seeking to maintain a competitive edge in the rapidly transforming electric vehicle (EV) sector. The report provides valuable insights to navigate the evolving landscape and capitalize on emerging opportunities.
LEWES, Del., Sept. 18, 2024 /PRNewswire/ — The Global Electric Powertrain Market Size is projected to grow at a CAGR of 13.20% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 85.71 Billion in 2024 and is expected to reach USD 211.7 Billion by the end of the forecast period.
With the automotive industry undergoing a major shift toward sustainable energy, the electric powertrain is becoming the core of innovation, driving efficiency, reducing emissions, and reshaping the future of mobility. This report offers an in-depth exploration of the market’s growth trajectory, including detailed insights into the latest advancements in powertrain technologies, competitive dynamics, and regional analysis.
Key Highlights of the Report:
Market Forecast & Growth Projections: Explore growth trends, market drivers, and future opportunities shaping the electric powertrain market through 2030.
Technological Innovations: Insights into cutting-edge technologies such as e-axles, battery management systems (BMS), and motor inverters that are transforming vehicle performance.
Regional & Segment Analysis: Understand the market dynamics across North America, Europe, Asia-Pacific, and key emerging markets with detailed segmentation by propulsion type, component, vehicle type, and more.
Competitive Landscape: Analysis of key players, market positioning, and strategies that are driving competition and innovation in the electric powertrain sector.
Who Should Read This Report?
This report is designed for C-level executives, product managers, business strategists, and investors who are seeking a deep understanding of the market landscape and strategic growth avenues. As electric vehicle adoption accelerates globally, timely insights into the powertrain market will enable businesses to optimize their product offerings and capitalize on key growth trends.
The Electric Powertrain Market Report is an essential resource for organizations looking to gain a competitive edge in this transformative industry. Don’t miss out on key opportunities—equip your business with the insights you need to drive innovation and growth.
For more information or to purchase the report, please contact us at:
https://www.verifiedmarketresearch.com/download-sample?rid=38270
Browse in-depth TOC on “Global Electric Powertrain Market Size“202 – Pages126 – Tables37 – Figures
Report Scope
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REPORT ATTRIBUTES |
DETAILS |
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STUDY PERIOD |
2021-2031 |
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GROWTH RATE |
CAGR of ~13.2% from 2024 to 2031 |
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BASE YEAR FOR VALUATION |
2024 |
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HISTORICAL PERIOD |
2021-2023 |
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FORECAST PERIOD |
2024-2031 |
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QUANTITATIVE UNITS |
Value in USD Billion |
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REPORT COVERAGE |
Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
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SEGMENTS COVERED |
Type
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|
REGIONS COVERED |
North America
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KEY PLAYERS |
Robert Bosch GmbH, Mitsubishi Electric Corp., Magna International Inc., Continental AG, Hitachi Astemo Ltd., BorgWarner Inc., ZF Friedrichshafen AG, Valeo, Nidec Corporation, Schaeffler AG, Cummins Inc., Dana Incorporated, GKN Plc, Eaton Corporation |
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CUSTOMIZATION |
Report customization along with purchase available upon request |
Global Electric Powertrain Market Overview
Rising Demand for Electric Vehicles (EVs): The Electric Powertrain Market is witnessing significant expansion attributed to the rising adoption of electric vehicles (EVs). Fueled by increasing environmental consciousness and governmental regulations promoting clean energy, electric vehicle sales are surging worldwide. This increase is directly enhancing demand for electric powertrain components, offering profitable prospects for manufacturers and suppliers to engage in this rapidly expanding sector.
Technological Advancements in Powertrain Efficiency: Advancements in electric powertrain technologies, such as high-efficiency motors, enhanced battery management systems, and regenerative braking, are revolutionizing vehicle performance. These developments are improving energy efficiency and decreasing operational expenses, rendering EVs more appealing to consumers and fleet operators. With technological advancement, the Electric Powertrain Market is poised for growth, providing enterprises the chance to utilize innovative solutions.
Government Incentives and Emission Regulations: Governments worldwide are promoting the use of electric powertrains via subsidies, tax incentives, and more stringent emission regulations. These policies are expediting the shift from internal combustion engines to electric alternatives, propelling market expansion. The Electric Powertrain Market gains from these supportive initiatives, fostering investment and innovation in powertrain systems that comply with regulatory standards for cleaner transportation.
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High Initial Costs of Electric Powertrains: Notwithstanding progress, the substantial initial expense of electric powertrain components, especially batteries, continues to provide a considerable obstacle to adoption. The substantial initial expenditure necessary for electric vehicle production and ownership may dissuade prospective purchasers, hindering market expansion. Manufacturers in the Electric Powertrain Market must prioritize cost-reduction measures to enhance the affordability and accessibility of EVs for a wider client demographic.
Limited Charging Infrastructure: The growth of the Electric Powertrain Market is impeded by insufficient charging infrastructure, especially in emerging areas. Consumers may hesitate to transition to electric vehicles due to apprehensions around range anxiety and insufficient charging infrastructure. Substantial investments in the expansion of the charging infrastructure are necessary to facilitate the widespread adoption of electric vehicles and stimulate future market growth.
Battery Performance and Longevity Concerns: Battery technology, despite advancements, continues to encounter constraints regarding energy density, charging velocity, and lifespan. These issues undermine consumer confidence in electric vehicles, especially regarding long-distance travel and heavy-duty uses. The performance of batteries directly influences the feasibility of electric powertrains; therefore, additional developments are essential to address these challenges and foster sustainable growth in the Electric Powertrain Market.
Geographical Dominance
The Asia-Pacific region leads the Electric Powertrain Market owing to the presence of prominent electric vehicle manufacturers and favorable governmental regulations in nations such as China and Japan. The region’s strong supply chain, along with elevated electric vehicle adoption rates, is propelling market expansion. North America and Europe are next, bolstered by rising electric vehicle demand and rigorous environmental laws. Geographical dominance influences market expansion by determining regional investments, technology progress, and consumer trends in electric vehicle adoption.
Key Players
The “Global Electric Powertrain Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Robert Bosch GmbH, Mitsubishi Electric Corp., Magna International Inc., Continental AG, Hitachi Astemo Ltd., BorgWarner Inc., ZF Friedrichshafen AG, Valeo, Nidec Corporation, Schaeffler AG, Cummins Inc., Dana Incorporated, GKN Plc, Eaton Corporation.
Electric Powertrain Market Segment Analysis
Based on the research, Verified Market Research has segmented the global Electric Powertrain Market into Type, Vehicle Type, Component and Geography.
Electric Powertrain Market, by Type:
Series Hybrid Powertrain
Parallel Hybrid Powertrain
MHEV Powertrain
BEV Powertrain
Others
Electric Powertrain Market, by Vehicle Type:
48V Mild Hybrid Vehicle (MHEV)
Battery Electric Vehicle (BEV)
Hybrid & Plug-In Hybrid Vehicle (HEV/PHEV)
Electric Powertrain Market, by Component:
Controller
DC/AC Inverter
DC/DC Converter
Motor
Others
Electric Powertrain Market, by Geography
North America
U.S
Canada
Mexico
Europe
Germany
France
U.K
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
ROW
Middle East & Africa
Latin America
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