The latest EV Powertrain Market research report offers a thorough analysis of growth opportunities and development trends until 2030. Using qualitative and quantitative research, it explores market drivers and challenges, providing valuable insights for businesses to make informed decisions and identify growth areas.
Global EV Powertrain Market is valued at approximately USD $$ Billion in 2022 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2023-2030.
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Electric vehicles are the automotive market’s future, as traditional fuel vehicles are projected to be phased out over the upcoming years. A powertrain is a group of components that produce power to propel the vehicle. The electric powertrain includes the battery and electric motor and provides power transmission, which is used to generate electricity that is then used to drive or move the vehicle. A vehicle’s electric powertrain is defined by its performance, comfort, and safety. As a result, makers of powertrain systems and components have begun to use electric powertrains to cut fuel consumption in automobiles. The EV Powertrain Market is expanding because of factors such as rising sales of electric vehicles and rising fuel prices.
According to Statista, the global electric vehicle industry is predicted to more than quadruple between 2021 and 2027, reaching an estimated global market size of around US$ 1.4 trillion by 2027. This corresponds to a significant Compound Annual Growth Rate (CAGR) of more than 19.19 per cent. In 2021, battery-electric vehicles are estimated to account for 66% of all electric vehicle sales globally. Also, the battery technological advancements and increasing adoption of electric powertrains will provide lucrative growth opportunities for the market during the forecast period. However, the high cost of electric vehicles and lack of standardized charging infrastructure hamper market growth during the forecast period of 2022-2029.
The key regions considered for the Global EV Powertrain Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe dominated the market in terms of revenue, owing to the regulation of carbon emissions for newly registered vehicles, which every auto manufacturer must follow, which is the major driver in this region. Furthermore, aversion to combustion engine-powered transportation and acceptance of e-mobility is growing. The introduction of EV portfolios and anticipated investment in charging infrastructure will most possibly ease the transition. These factors are driving market expansion in this region. North America is expected to grow with the highest CAGR during the forecast period. Customers in the United States typically drive longer distances and prefer larger automobiles. Moreover, electric vehicle Powertrains are expected to have a larger market share in certain places, particularly coastal areas. As a result, market expansion in this region is aided.
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Major market players included in this report are:
Robert Bosch GmbH
Continental AG
Magna International Inc.
Mitsubishi Electric Corporation
ZF Friedrichshafen AG
BorgWarner Inc.
Valeo
Hitachi Automotive Systems, Ltd.
Bosch Limited
NXP Semiconductors
Recent Developments in the Market:
In July 2021, LG Electronics and Magna International launch an electric powertrain joint venture to target the EV market. The transaction agreement has been signed by both firms. The new company, LG Magna e-powertrain, will be situated in Incheon, South Korea, and will initially employ 1000 people.
In July 2021, FEV, a specialist in powertrain and automotive development for software and hardware, signed a long-term agreement with Hyliion, an electric powertrain provider. The collaboration will aid in the design, integration, development, and manufacturing validation of its Electric Range Extender (ERE) for class-8 tractor-trailer applications.
Global EV Powertrain Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Component Type, Vehicle Type, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component Type offerings of key players.
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The detailed segments and sub-segment of the market are explained below.
By Component Type:
Electric Motor
Converter
Inverter
Power Distribution Module (PDM)
Transmission
By Vehicle Type:
Passenger Cars
Buses & Coaches
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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Some Questions Answered in the EV Powertrain Market Report:
- What is the projected size of the global EV Powertrain market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the global EV Powertrain industry?
- What are the major market trends that are affecting the expansion of the EV Powertrain market?
- What obstacles must be overcome in order to achieve sustained growth in the EV Powertrain market?
- What opportunities and threats do vendors in the global EV Powertrain market face?
- What are the raw materials and manufacturing equipment used in the production of EV Powertrain, and what is the manufacturing process?
- What are the different types and applications of EV Powertrain, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the EV Powertrain market?
- What factors are driving the growth of the EV Powertrain market in the top regions worldwide?
- Who are the major players in the global EV Powertrain market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the EV Powertrain market?
- What are the main findings of a five forces analysis of the global EV Powertrain market?
Here are the key highlights of the report:
- Comprehensive assessments of the market share for Invisible Braces, conducted at both country and regional levels.
- In-depth analysis of the competitive landscape, identifying key trends within the industry.
- Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER’s five forces.
- Strategic recommendations tailored for crucial business segments, leveraging market forecasts.
- Guidance provided for new market entrants, assisting them in navigating the industry landscape.
- Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.
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