The Electric Powertrain Market Size was valued at USD 96 billion in 2023 and is expected to reach USD 304.03 billion by 2031 and grow at a CAGR of 15.5% over the forecast period 2024-2031.
The powertrain is an important component of the electric vehicles that are still being introduced this year. Because of people's interest in electrically run vehicles, the EV segment will continue to rise in the coming years. People are interested in learning more about electric vehicles and automobiles. This is because electric vehicles and cars allow for more sustainability and alternative fuel consumption. Electricity is the future of the vehicle industry. As a result, the future prospects for this critical component of electric vehicles are highly promising. The drive for decreased reliance on fossil fuels and smaller carbon footprints is driving technological advancements in all vehicles.
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Traditional fuel vehicles are likely to phase out in the coming years, therefore electric vehicles represent the future of the automobile sector. These vehicles are gaining popularity because they offer better environmental benefits and a cheaper total cost of ownership than internal combustion engine automobiles. Several countries have enacted strict rules to encourage the use of alternative fuel vehicles, such as electric vehicles.
KEY DRIVERS:
Electrical vehicle manufacture and sales are a direct influence on the electric vehicle powertrain market.
Development of electric car manufacturing facilities in several regional markets.
The worldwide electric vehicle market's demand for energy-efficient automobiles is also a consideration.
The electric powertrain market is strongly linked to the EV segment, and it influences the market as well.
RESTRAINTS:
The lack of standard development processes for the Electric Powertrain is a market barrier.
Market growth is expected to be hampered by strict emission regulations and saturation in growing markets.
OPPORTUNITIES:
Simulation technology is being more widely used in powertrain systems.
In developing countries, the economy is improving.
The market is likely to benefit from rising car penetration in emerging countries.
CHALLENGES:
The expansion of the Electric Powertrain Market is hampered by a lack of manufacturing infrastructure.
Accessibility and range have been concerns for electric vehicles.
Even the electric car powertrain market has been impacted by the COVID 19 pandemic. The industrial industry was severely impacted by the COVID 19 pandemic. This had a negative influence. Indeed, the global shutdown of industrial units had an impact on a variety of industries. The vehicle manufacturing business was heavily impacted. Aside from the staffing constraint and the problems posed by the pandemic, there were also difficulties in assembling the units. Many autos contain parts imported from various nations and built-in one location. The automobile sector suffered a setback since the worldwide market's export and import network was disrupted.
Automobile sales, on the other hand, were impacted by the financial instability caused by the pandemic. All of these variables, compounded by the COVID 19 pandemic, had an impact on the electric vehicle powertrain market last year. As a result, demand and supply for electric vehicle powertrains fell dramatically. However, the year 2021 has reignited interest in the electric car sector. This gives the electric vehicle powertrain market a boost.
The global market is divided into BEV, HEV/PHEV based on the vehicle type segment. In 2023, the BEV segment held the greatest proportion of the overall market, accounting for 70.2 %. A battery electric vehicle (BEV) is an automobile that runs solely on electricity. An electric drivetrain driven by rechargeable batteries replaces the internal combustion engine and fuel tank in a BEV.
By Vehicle Type
BEV
HEV/PHEV
By Components
Motor/Generator
Converter
Battery
Transmission
Power Electronics Controller
On-Board Charger
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The Electric Vehicle Powertrain Industry is divided into several global regions. The major companies in the Electric Vehicle Powertrain Market are well-represented in a number of global regional marketplaces. The market share of electric vehicle powertrains by geography is divided into three primary markets: North America, Europe, and the Asia Pacific. The rest of the globe includes all other electric vehicle powertrain market segments. The Asia Pacific region dominated the Electric Vehicle Powertrain Market. The European and North American areas came in second and third, respectively, in terms of electric car powertrain market share. In the coming years, the Asia Pacific region will continue to dominate the electric car powertrain market. During the projection period, the North American region will also expand.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
ZF Friedrichshafen AG (Germany), Robert Bosch GmbH (Germany), BorgWarner Inc. (US), Mitsubishi Electric Corp (Japan), Magna International Inc. (Canada), Continental AG (Germany), Valeo, Magneti Marelli Ck Holdings, Nidec Corporation, Schaeffler AG are some of the affluent competitors with significant market share in the Electric Powertrain Market.
Report Attributes | Details |
---|---|
Market Size in 2023 | US$ 96 Billion |
Market Size by 2031 | US$ 304.03 Billion |
CAGR | CAGR of 15.5% From 2024 to 2031 |
Base Year | 2023 |
Forecast Period | 2024-2031 |
Historical Data | 2020-2022 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments |
• by Type (BEV, HEV/PHEV) • by Components (Motor/Generator, Converter, Battery, Transmission, Power Electronics Controller, On-Board Charger) |
Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
Company Profiles | ZF Friedrichshafen AG (Germany), Robert Bosch GmbH (Germany), BorgWarner Inc. (US), Mitsubishi Electric Corp (Japan), Magna International Inc. (Canada), Continental AG (Germany), Valeo, Magneti Marelli Ck Holdings, Nidec Corporation, Schaeffler AG |
Key Drivers | •Electrical vehicle manufacture and sales are a direct influence on the electric vehicle powertrain market. •Development of electric car manufacturing facilities in several regional markets. |
RESTRAINTS | •The lack of standard development processes for the Electric Vehicle Powertrain is a market barrier. •Market growth is expected to be hampered by strict emission regulations and saturation in growing markets. |
The market value is expected to reach USD 304.03 billion by 2031.
The major players in the market are ZF Friedrichshafen AG (Germany), EPT Co., Inc. (South Korea), Bonfiglioli Riduttori S.P.A (Italy), WEG (Brazil), GKN PLC (UK), NXP Semiconductors (the Netherlands), IET S.p.A. (Italy), Robert Bosch GmbH (Germany), Automation Tooling Systems Inc. (Canada), BorgWarner Inc. (US), AVL List GmbH (Austria), Mitsubishi Electric Corp (Japan), Magna International Inc. (Canada), and others in the final report.
The forecast period of the Electric Powertrain Market is 2024-2031.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact Of Russia Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Electric Powertrain Market Segmentation, By Vehicle Type
9.1 Introduction
9.2 Trend Analysis
9.3 BEV
9.4 HEV/PHEV
10. Electric Powertrain Market Segmentation, By Components
10.1 Introduction
10.2 Trend Analysis
10.3 Motor/Generator
10.4 Converter
10.5 Battery
10.6 Transmission
10.7 Power Electronics Controller
10.8 On-Board Charger
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 Trend Analysis
11.2.2 North America Electric Powertrain Market by Country
11.2.3 North America Electric Powertrain Market By Vehicle Type
11.2.4 North America Electric Powertrain Market By Components
11.2.5 USA
11.2.5.1 USA Electric Powertrain Market By Vehicle Type
11.2.5.2 USA Electric Powertrain Market By Components
11.2.6 Canada
11.2.6.1 Canada Electric Powertrain Market By Vehicle Type
11.2.6.2 Canada Electric Powertrain Market By Components
11.2.7 Mexico
11.2.7.1 Mexico Electric Powertrain Market By Vehicle Type
11.2.7.2 Mexico Electric Powertrain Market By Components
11.3 Europe
11.3.1 Trend Analysis
11.3.2 Eastern Europe
11.3.2.1 Eastern Europe Electric Powertrain Market by Country
11.3.2.2 Eastern Europe Electric Powertrain Market By Vehicle Type
11.3.2.3 Eastern Europe Electric Powertrain Market By Components
11.3.2.4 Poland
11.3.2.4.1 Poland Electric Powertrain Market By Vehicle Type
11.3.2.4.2 Poland Electric Powertrain Market By Components
11.3.2.5 Romania
11.3.2.5.1 Romania Electric Powertrain Market By Vehicle Type
11.3.2.5.2 Romania Electric Powertrain Market By Components
11.3.2.6 Hungary
11.3.2.6.1 Hungary Electric Powertrain Market By Vehicle Type
11.3.2.6.2 Hungary Electric Powertrain Market By Components
11.3.2.7 Turkey
11.3.2.7.1 Turkey Electric Powertrain Market By Vehicle Type
11.3.2.7.2 Turkey Electric Powertrain Market By Components
11.3.2.8 Rest of Eastern Europe
11.3.2.8.1 Rest of Eastern Europe Electric Powertrain Market By Vehicle Type
11.3.2.8.2 Rest of Eastern Europe Electric Powertrain Market By Components
11.3.3 Western Europe
11.3.3.1 Western Europe Electric Powertrain Market by Country
11.3.3.2 Western Europe Electric Powertrain Market By Vehicle Type
11.3.3.3 Western Europe Electric Powertrain Market By Components
11.3.3.4 Germany
11.3.3.4.1 Germany Electric Powertrain Market By Vehicle Type
11.3.3.4.2 Germany Electric Powertrain Market By Components
11.3.3.5 France
11.3.3.5.1 France Electric Powertrain Market By Vehicle Type
11.3.3.5.2 France Electric Powertrain Market By Components
11.3.3.6 UK
11.3.3.6.1 UK Electric Powertrain Market By Vehicle Type
11.3.3.6.2 UK Electric Powertrain Market By Components
11.3.3.7 Italy
11.3.3.7.1 Italy Electric Powertrain Market By Vehicle Type
11.3.3.7.2 Italy Electric Powertrain Market By Components
11.3.3.8 Spain
11.3.3.8.1 Spain Electric Powertrain Market By Vehicle Type
11.3.3.8.2 Spain Electric Powertrain Market By Components
11.3.3.9 Netherlands
11.3.3.9.1 Netherlands Electric Powertrain Market By Vehicle Type
11.3.3.9.2 Netherlands Electric Powertrain Market By Components
11.3.3.10 Switzerland
11.3.3.10.1 Switzerland Electric Powertrain Market By Vehicle Type
11.3.3.10.2 Switzerland Electric Powertrain Market By Components
11.3.3.11 Austria
11.3.3.11.1 Austria Electric Powertrain Market By Vehicle Type
11.3.3.11.2 Austria Electric Powertrain Market By Components
11.3.3.12 Rest of Western Europe
11.3.3.12.1 Rest of Western Europe Electric Powertrain Market By Vehicle Type
11.3.2.12.2 Rest of Western Europe Electric Powertrain Market By Components
11.4 Asia-Pacific
11.4.1 Trend Analysis
11.4.2 Asia Pacific Electric Powertrain Market by Country
11.4.3 Asia Pacific Electric Powertrain Market By Vehicle Type
11.4.4 Asia Pacific Electric Powertrain Market By Components
11.4.5 China
11.4.5.1 China Electric Powertrain Market By Vehicle Type
11.4.5.2 China Electric Powertrain Market By Components
11.4.6 India
11.4.6.1 India Electric Powertrain Market By Vehicle Type
11.4.6.2 India Electric Powertrain Market By Components
11.4.7 Japan
11.4.7.1 Japan Electric Powertrain Market By Vehicle Type
11.4.7.2 Japan Electric Powertrain Market By Components
11.4.8 South Korea
11.4.8.1 South Korea Electric Powertrain Market By Vehicle Type
11.4.8.2 South Korea Electric Powertrain Market By Components
11.4.9 Vietnam
11.4.9.1 Vietnam Electric Powertrain Market By Vehicle Type
11.4.9.2 Vietnam Electric Powertrain Market By Components
11.4.10 Singapore
11.4.10.1 Singapore Electric Powertrain Market By Vehicle Type
11.4.10.2 Singapore Electric Powertrain Market By Components
11.4.11 Australia
11.4.11.1 Australia Electric Powertrain Market By Vehicle Type
11.4.11.2 Australia Electric Powertrain Market By Components
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Electric Powertrain Market By Vehicle Type
11.4.12.2 Rest of Asia-Pacific Electric Powertrain Market By Components
11.5 Middle East & Africa
11.5.1 Trend Analysis
11.5.2 Middle East
11.5.2.1 Middle East Electric Powertrain Market by Country
11.5.2.2 Middle East Electric Powertrain Market By Vehicle Type
11.5.2.3 Middle East Electric Powertrain Market By Components
11.5.2.4 UAE
11.5.2.4.1 UAE Electric Powertrain Market By Vehicle Type
11.5.2.4.2 UAE Electric Powertrain Market By Components
11.5.2.5 Egypt
11.5.2.5.1 Egypt Electric Powertrain Market By Vehicle Type
11.5.2.5.2 Egypt Electric Powertrain Market By Components
11.5.2.6 Saudi Arabia
11.5.2.6.1 Saudi Arabia Electric Powertrain Market By Vehicle Type
11.5.2.6.2 Saudi Arabia Electric Powertrain Market By Components
11.5.2.7 Qatar
11.5.2.7.1 Qatar Electric Powertrain Market By Vehicle Type
11.5.2.7.2 Qatar Electric Powertrain Market By Components
11.5.2.8 Rest of Middle East
11.5.2.8.1 Rest of Middle East Electric Powertrain Market By Vehicle Type
11.5.2.8.2 Rest of Middle East Electric Powertrain Market By Components
11.5.3 Africa
11.5.3.1 Africa Electric Powertrain Market by Country
11.5.3.2 Africa Electric Powertrain Market By Vehicle Type
11.5.3.3 Africa Electric Powertrain Market By Components
11.5.2.4 Nigeria
11.5.2.4.1 South Africa Electric Powertrain Market By Vehicle Type
11.5.2.4.2 South Africa Electric Powertrain Market By Components
11.5.2.5 South Africa
11.5.2.5.1 South Africa Electric Powertrain Market By Vehicle Type
11.5.2.5.2 South Africa Electric Powertrain Market By Components
11.5.2.6 Rest of Africa
11.5.2.6.1 Rest of Africa Electric Powertrain Market By Vehicle Type
11.5.2.6.2 Rest of Africa Electric Powertrain Market By Components
11.6 Latin America
11.6.1 Trend Analysis
11.6.2 Latin America Electric Powertrain Market by Country
11.6.3 Latin America Electric Powertrain Market By Vehicle Type
11.6.4 Latin America Electric Powertrain Market By Components
11.6.5 Brazil
11.6.5.1 Brazil Electric Powertrain Market By Vehicle Type
11.6.5.2 Brazil Electric Powertrain Market By Components
11.6.6 Argentina
11.6.6.1 Argentina Electric Powertrain Market By Vehicle Type
11.6.6.2 Argentina Electric Powertrain Market By Components
11.6.7 Colombia
11.6.7.1 Colombia Electric Powertrain Market By Vehicle Type
11.6.7.2 Colombia Electric Powertrain Market By Components
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Electric Powertrain Market By Vehicle Type
11.6.8.2 Rest of Latin America Electric Powertrain Market By Components
12. Company Profiles
12.1 ZF Friedrichshafen AG
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Robert Bosch GmbH
12.2.1 Company Overview
12.2.2 Financial
12.2.3 Products/ Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 BorgWarner Inc
12.3.1 Company Overview
12.3.2 Financial
12.3.3 Products/ Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Mitsubishi Electric Corp
12.4.1 Company Overview
12.4.2 Financial
12.4.3 Products/ Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Magna International Inc.
12.5.1 Company Overview
12.5.2 Financial
12.5.3 Products/ Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Continental AG
12.6.1 Company Overview
12.6.2 Financial
12.6.3 Products/ Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Valeo
12.7.1 Company Overview
12.7.2 Financial
12.7.3 Products/ Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Magneti Marelli Ck Holdings
12.8.1 Company Overview
12.8.2 Financial
12.8.3 Products/ Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Nidec Corporation
12.9.1 Company Overview
12.9.2 Financial
12.9.3 Products/ Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Schaeffler AG
12.10.1 Company Overview
12.10.2 Financial
12.10.3 Products/ Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. USE Cases And Best Practices
15. Conclusion
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