Electric Powertrain Market

Global Electric Powertrain Market is valued at USD 82.66 Billion in 2021 and expected to reach USD 499.8 Billion by 2028 with a CAGR of 30.1% over the forecast period.

Global Electric Powertrain Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2022-2028: Strict vehicular emission norms and increased sales of electric vehicles are the major factors driving the growth of the Global Electric Powertrain Market.

Scope of Global Electric Powertrain Market

The primary components that produce and distribute electricity to the road surface for completely electric, plug-in hybrid electric vehicles, and hybrid electric applications are included in electric powertrain system. The Global Electric Powertrain Market is projected to develop as production of electric cars rises and governments around the world provide subsidies and incentives for the broad adoption and local manufacture of electric vehicles. The National Electric Mobility Mission Plan (NEMMP) and the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME I and II) programs, for instance, aided in generating early interest and exposure to electric mobility. For instance, in phase 2 of FAME, the government promised a USD 1.4 billion investment through 2022. Furthermore, lower battery costs to boost demand for cost-effective EVs, together with the expansion of private and public electric vehicle charging stations, are likely to boost EV adoption throughout the projection period.

The COVID-19 pandemic has caused unprecedented hurdles to the global car industry, considering supply chain instability and raw material constraints. During the pandemic, some consumers postponed plans to acquire automobiles. However, in emerging countries such as India, electric cars are gaining popularity, with more people wanting to acquire an EV in 2021 as opposed to a year earlier. This increased EV popularity, despite the COVID-19 interruptions, is predicted to help the revival of the EV industry and raise the demand for essential aspects such as electric powertrains.

The global Electric Powertrain market is segmented based on the component, vehicle, sales channel, and region & country level. Based on components, the global Electric Powertrain market is segmented into Electric Vehicle Drive Module EV Battery Packs, EV DC/DC Converter, EV Thermal System, EV Power Distribution Module (PDM), EV DC/AC Inverter, and Others. By vehicle, the market is segmented into Battery Electric Vehicle (BEV) and Fuel Cell Electric Vehicle (FCEV). By sales channel, the global Electric Powertrain market is segmented into OEM and aftermarket.

The regions covered in the global Electric Powertrain market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global Electric Powertrain is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.

Key Players of Global Electric Powertrain Market

Some major key players for the global Electric Powertrain market report cover prominent players like

• Bosch Limited
• BorgWarner
• Dana Incorporated
• Continental AG
• Hitachi
• Denso
• Magneti Marelli Ck Holdings
• Magna International Inc
• Nidec Corporation
• Panasonic
• Mitsubishi Electric Corp
• Toyota Industries Corporation
• Schaeffler AG
• ZF Friedrichshafen AG
• Valeo
• Cc Power Electronics
• Brusa Electronik (Key Innovator)
• others.

Segmentations-

By Component

• Electric Motor
• Drive Shafts
• Transmission
• Battery
• Power Electronics
• Charging System
• Controller
• Others

By EV Type

• Battery Electric Vehicles
• Fuel Cell Electric Vehicle

• Hybrid Electric Vehicles

  • Series
  • Parallel
  • Series-Parallel
• Plug-in Electric Vehicles

By Sales Channel

• OEM
• Aftermarket

By Vehicle Type

• Two-Wheeler
• Three-Wheeler
• Passenger Vehicles

• Commercial Vehicles

  • LCV & MCV

  • HCV

    • Trucks
    • Buses
  • Offroad Vehicles

News

Exro Signs Product Development Collaboration with Global Market Leaders for Hybrid Electric Powertrain Off-Highway Application

On October 5^th, 2022; The European client, which is still under NDA, is a worldwide leader in the design, production, and marketing of off-highway systems, with multi-billion-dollar sales projected in 2022. The collaboration will create a new product offering using Exro's Coil-DriverTM and the partner's diesel car to bring a hybrid diesel-electric powertrain with applicability throughout the partner's product portfolio. Exro has obtained a purchase order for product development, which involves the delivery of several first sample units to the client by the end of the first quarter of 2023.

Hyundai Mobis announces EV powertrain facility near Georgia coast

On November 23^rd, 2022; Hyundai Mobis announced that it would establish a facility in Richmond Hill, Bryan County, to manufacture powertrain systems for cars which will serve not just the planned Hyundai EV factory in Ellabell, but also the Kia facility in West Point and Hyundai's Alabama plant.

Strict vehicular emission norms, rise in the sale of electric vehicles, and increased sales of electric vehicles are some of the major factors driving the growth of the Global Electric Powertrain Market

Major manufacturers such as Honda, Tesla, Toyota, Ford, and General Motors have invested heavily in making automobiles more electric, resulting in a significant increase in demand for electric vehicles. Furthermore, expanding collaborations between manufacturers and electric motor manufacturers could improve demand for electric cars. For instance, General Motors Co. and Honda Motors Co. announced a plan to form a North American automotive alliance. General Motors intends to offer 20 electric vehicle types by 2023, while Honda wants to utilize GM's battery pack to produce two plug-in electric car models.

Electric vehicles are gaining in popularity; thus, the top automakers are creating electric cars. For instance, in 2019, Maruti Suzuki, a leader in the market for conventional automobiles, stated it will start offering electric cars for individual use in the Indian market in the future years. A growing number of conventional car producers are going to shift to creating electric vehicles. This will boost the expansion of the electric powertrain industry. The expansion of vehicle electrification is projected to be pushed up by the growing costs of conventional fuels and the increased sales of electric automobiles. The demand for electric cars is projected to expand because of severe pollution laws and rising concern for the environment among customers. Also, automotive companies including Renault Group and Bosch have taken the initiative to adopt vehicle electrification and concentrate on introducing electrified cars to their product lines, which is projected to raise the demand for electrical vehicles. Over the next several years, all of these elements are projected to help the powertrain industry increase.

OEMs throughout the globe find it challenging to replace an ICE powerplant with an electric powertrain in passenger cars since electric drivetrains cost approximately USD 5,000 USD to 13,000 more often than ICE powertrains, based on the required range and battery capacity. In the future years, this scenario is expected to improve as more learners understand and comprehend the overall advantages and low cost of ownership of an electric vehicle. However, as battery technology improves and more cars are produced, the pricing disparity between these vehicles is anticipated to decrease in the coming years.

Asia Pacific is Expected to Capture a Major Share in the Global Electric Powertrain Market

The region's strong development may be attributed to rising consumer buying power as well as favorable government regulations encouraging the use of battery-powered automobiles. Furthermore, Asian governments are putting greater emphasis on developing advantageous infrastructure for electric cars. For instance, Didi Chuxing (DiDi), a Chinese company, and the British energy, gas, and oil and gas company announced a partnership agreement to create an electric vehicle charging network in China. Such alliances and joint ventures involving different groups to construct charging infrastructure throughout the world are anticipated to increase the acceptance of electric cars.

However, due to the region's increasing adoption of electric cars, North America is regarded as the leading revenue contributor to the development of the electric powertrain industry.

By Regional & Country Level:

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy

Asia Pacific

• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico

Middle East and Africa

• GCC
• Africa
• Rest of Middle East and Africa

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2022 - 2028
Market Size in 2021:	USD 82.66 Billion
Base year considered	2021
Forecast Period CAGR %:	30.1%
Market Size Expected in 2028:	USD 499.8 Billion
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	Bosch Limited, BorgWarner, Dana Incorporated, Continental AG, Hitachi, Denso, Magneti Marelli Ck Holdings, Magna International Inc., Nidec Corporation, Panasonic, Mitsubishi Electric Corp, Toyota Industries Corporation, Schaeffler AG, ZF Friedrichshafen AG, Valeo, Cc Power Electronics (Key Innovator), Brusa Electronik (Key Innovator), and others.
Segments Covered	By Component, By EV Type, By Sales Channel, By Vehicle Type
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, Africa, Rest of the Middle East and Africa