Global Electric Powertrain Market – Industry Trends and Forecast to 2030

Global Electric Powertrain Market, By Vehicle Type (Hybrid and Plug-In Hybrid Vehicle, Battery Electric Vehicle, 48V Mild Hybrid Vehicle, Full Cell Electric Vehicle, Passenger and Commercial Vehicles), Vehicle Drive Type (Front Wheel Drive, Rear Wheel Drive, All Wheel Drive), Vehicle Class (Mid-Priced, Luxury), Component (Battery, Power Electronic Controller, Motor/Generator, Converter, Transmission, On-Board Charger, Electric Vehicle Drive Module, EV Power Distribution Model, EV Thermal Systems), Powertrain Type (BEV Powertrain, MHEV Powertrain, Series Hybrid Powertrain, Parallel Hybrid Powertrain, Series-Parallel Hybrid Powertrain),  Sales Channels (OEM, Aftermarket) – Industry Trends and Forecast to 2030.

Electric Powertrain Market Analysis and Sizes

Traditional fuel vehicles are probably stand out of the market in the next few years. Environmental problem is one of the major concern for the customer to adopt electronic vehicle, electronics vehicle are achievement fame because they give better environmental benefits and a lower total cost which make electronic vehicle affordable. Some countries have enacted strict motor vehicle rules regarding pollution which push people towards the use of electric powertrain market.

Data Bridge Market Research analyses that the electric powertrain market which was USD 83.30 billion in 2022, would rocket up to USD 131.67 billion by 2030, and is expected to undergo a CAGR of 5.89% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Electric Powertrain Market Scope and Segmentation

Market Definition

 The electric powertrain is the component that generates and transfer power to the road, water, or air medium for transportation. The engine and transmission are the most important parts of the powertrain, the increasing demand for less dependence on fossil fuels and lower carbon footprints is boosting the development of technologies in all vehicles, and the growing demand for technologies directly impact the powertrain systems  or the growth of electric powertrain market

Global Electric Powertrain Market Dynamics

Drivers

• Government promoting electric vehicle

Governments are pushing for a conversion to clean energy, and some governments are offering tax relaxation to passenger vehicles for the purchase of electric vehicles. This has amplified the demand for electric vehicles in urban areas, where air pollution is an important concern. The development of fast-charging arrangements has eased fears about range anxiety, making electric vehicles a more practical option for daily use, which will help to propel the market growth of the electric powertrain market.

• Adoption of electric powertrain medium due to fuel price 

People are moving towards the electric transportation option due to the drastically increasing in fuel prices and present environmental concerns. In developed countries, producers are focused on the development of lightweight and compact e-powertrain solutions that are appropriate for everyday transportation. It will help to cut the cost of fuel and pollution, which will drive the growth of the electric powertrain market.  

Opportunities

• Creating alternative charging solution

 The enhanced alternate solutions for charging such as installing charging points within residential complexes, housing societies, shopping malls, railway stations, offices, and small shops governments are focusing on infrastructural development for promoting EV use. Due to the heavy investment made by governments, public charging stations are installed in every conceivable public place, some countries are funding the building of public charging stations, which will increase the electric powertrain systems market.

• Depleting oil and gas reserves

Fossil fuels are non-renewable resources that cannot be reused. Till now transportation medium is dependent on gas and oil reservation but in the future, transportation medium will be replaced by electric powertrain medium because the depletions of nonrenewable resources such as oil and gas make people think about alternative which create an opportunity for electric powertrain market to grow.

Restraints/Challenges

• Lack of standard availability of charging  

 For traditional vehicles, people have a standard fuelling system such as a petrol pump which gives better mileage but in the case of electric powertrain systems, they don’t have a standard power center and good battery life. It connoted be trusted in long travels, the driver will feel range anxiety which will restrain the growth of the electric powertrain market.  

• High cost of electric vehicle

The electric vehicle is more expensive than buying a combustion engine vehicle, in terms of pricing electric vehicle is equal to an entry-level luxury car. When buying the costs of vehicles are so different, it will be difficult for consumers who are concerned with costs to select an electric vehicle. Consumers do not want to pay the extra cost for electric automobiles, which can create restrain in market growth.

This electric powertrain market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electric powertrain market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• An Indian motor vehicle parts manufacturing company, has become the first Indian firm to achieve approval for deliveries of Differential Pinion Shafts to BMW AG Munich for the electric powertrain. The order plans to deliver more than 2.5 million units by 2034.
• in July 2021 ,GKN PLC announced that the company will provide faster charging times, increased driving range, and better car performance with development of modular 800V e-drivetrains

Global Electric Powertrain Market Scope

The electric powertrain market is segmented on the basis of vehicle type vehicle drive type, vehicle class, component, powertrain type, and sales channels. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Vehicle Type

• Hybrid and Plug-In Hybrid Vehicle
• Battery Electric Vehicle
• 48V Mild Hybrid Vehicle
• Full Cell Electric Vehicle,
• Passenger and Commercial Vehicles

Vehicle Drive Type

• Front Wheel Drive
• Rear Wheel Drive
• All Wheel Drive

Vehicle Class

• Mid-Priced
• Luxury

 Component

• Battery
• Power Electronic Controller
• Motor/Generator
• Converter
• AC Converter
• DC Converter
• Inverter
• AC Inverter
• DC Inverter
• Transmission
• On-Board Charger
• Electric Vehicle Drive Module
• EV Power Distribution Model
• EV Thermal Systems

Powertrain Type

• BEV Powertrain
• MHEV Powertrain
• Series Hybrid Powertrain
• Parallel Hybrid Powertrain
• Series-Parallel Hybrid Powertrain

Sales Channels

• OEM
• Aftermarket

Global Electric Powertrain Market Regional Analysis/Insights

The electric powertrain market is analysed and market size insights and trends are vehicle type vehicle drive type, vehicle class, component, powertrain type, and sales channels as referenced above.

The countries covered in the electric powertrain market report  are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Asia Pacific dominates the global electric powertrain market because of strong base in the industrialisation, strong presence of major players in the market and good foreign policy and high demand of EVs.  

Europe is expected to witness significant growth due to the increase in the demands of EVs, present of strong electronic market such as tesla. Availability of growing market, growing demand of electric powertrain system.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Electric Powertrain Market Share Analysis

The electric powertrain market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to electric powertrain market.  

 Some of the major players operating in the electric powertrain market are:

• Hitachi Astemo, Ltd.(U.S)
• Magna International Inc (Canada)
• Robert Bosch GmbH (Germany),
• Continental AG (Germany)
• Cummins Inc (U.S)
• BorgWarner Inc. (U.S)
• ZF Friedrichshafen AG (Germany)
• DENSO CORPORATION (Japan)
• DANA TM4 INC., (Canada)
• VALEO (France)
• Mitsubishi Electric Corporation (Japan)
• AKKA (Belgium)
• Ricardo (U.K),
• FEV Europe GmbH (Germany)
• ATESTEO GmbH & Co. KG(Germany)
• HORIBA, Ltd. (Japan)
• Applus+ (Spain)
• Intertek Group plc (U.K.)
• IAV (Germany),