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Electric Powertrain Market

Global Electric Powertrain Market Share, Size, Analysis, Growth, Report, Forecast: By Component: Battery, Power Electric Controller, Motor/Generator, Converter, Transmission, On-board Charger; By Vehicle Type: Passenger Car, Commercial Vehicle; By Vehicle Drive Type; By Application; Regional Analysis; Competitive Landscape; 2024-2032

Global Electric Powertrain Market Outlook

The global electric powertrain market size reached a value of about USD 113.50 billion in 2023. The market is expected to grow at a CAGR of 14.4% between 2024 and 2032, reaching a value of nearly USD 380.90 billion by 2032.

 

Global Electric Powertrain Market Trends

EVs are powered by an electric powertrain, which eliminates the need for an internal combustion engine. An electric powertrain is a small and lightweight mechanism that creates very little vibration and produces immediate torque. These factors work together to produce a high-quality, fluid, and highly responsive drive.

 

Electric powertrain systems are essential in producing and delivering power to the road surface in electric, hybrid, and plug-in hybrid electric vehicle applications.

 

  • The growing efficiency and sustainability of the transportation sector are expected to surge the usage of a wide variety of electric powertrains in the electric vehicles sector.
  • As traditional fuel cars are likely to become less common in the coming years, the popularity of electric vehicles is expected to grow owing to their environmental advantages and low ownership costs. This is anticipated to fuel the market for electric powertrains in the coming years.
  • Governments globally have started implementing favourable regulations to promote the use of electric vehicles and other alternative fuel vehicles. In addition, they are offering attractive incentives to boost the domestic production of electric vehicles, which is expected to favour the electric powertrain market growth.

 

electric powertrain market

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Global Electric Powertrain Market Opportunities and Challenges

There is a substantial increase in oil and gas prices, the surging depletion of global oil deposits, and rising concerns regarding the environmental impact of fossil fuels. Hence, the automotive sector is witnessing a shift towards green energy. This is driving the focus of automotive manufacturers to develop e-powertrains that consume little energy and emit low amount of greenhouse gases.

 

Despite the rapid and large-scale penetration of electric vehicles, the market for electric powertrains is hindered by the lack of charging stations. In addition, the rise in battery costs can negatively impact the expansion of electric powertrains.

 

Global Electric Powertrain Market Analysis

Based on components, the market can be segmented into battery, power electric controller, motor/generator, converter, transmission, and onboard charger. By vehicle type, it can be bifurcated into passenger car and commercial vehicle.

 

Based on the vehicle drive type, the market can be categorised into front wheel drive, rear wheel drive, and all wheel drive. By application, the market divisions include BEV, PHEV, and FCEV. The major regional markets for electric powertrains can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global electric powertrain market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

 

  • ZF Friedrichshafen AG
  • Robert Bosch GmbH
  • Dana Incorporated
  • Denso Corporation
  • Hitachi Automotive
  • Magna International Inc.
  • Marelli Holdings Co., Ltd.
  • Panasonic Holdings Corporation
  • Valeo Group
  • Schaeffler AG
  • Others

 

electric powertrain market by segments

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Electric Powertrain Market Share by Component

The battery segment is anticipated to hold a significant market share owing to the increasing advancements in battery technologies. Batteries in electric vehicles are either used as a single source of power or are utilised with other power sources.

 

The transmission segment is likely to cover a significant market share as electric vehicles are usually equipped with single-speed transmissions. Besides, major manufacturers are developing transmissions with load-shifting capabilities and multispeed transmission sailing operations for electric vehicles.

 

Passenger Cars are Expected to Hold a Considerable Position in the Market for Electric Powertrain

The passenger car segment is expected to hold a considerable position in the market owing to the increasing demand for personal vehicles. The increasing disposable incomes of consumers, coupled with the cost-effectiveness offered by electric vehicles, are increasing their adoption in both developing and developed countries. The sales of passenger vehicles are further supported by technological advancements, which is reducing their overall costs, thereby driving the development of the market in the forecast period.

 

Market Share by Region

Europe is expected to hold a considerable position in the market owing to the rising focus on green energy generation and utilisation. Stringent policies implemented by governments of various countries in the region to reduce greenhouse emissions from the automotive sector are prompting auto manufacturers to utilise electric powertrain. In addition, the increasing adoption of electric passenger vehicles and the significant reduction in acceptance of combustion engine-based vehicle in Europe are favouring the market demand.

 

The Asia Pacific region is likely to register a rapid growth owing to the rapidly rising fuel prices and increasing promotion of electric vehicles by governments. Countries like India and China are implementing favourable regulations aimed at aiding sales of EVs, which is anticipated to further propel the electric powertrain market development in the forecast period.

 

electric powertrain market by region

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Competitive Landscape

ZF Friedrichshafen AG is a technology company headquartered in Friedrichshafen, Germany, that is engaged in developing and offering innovative solutions and systems for the automotive and information technology (IT) sectors. The company is focused on advanced mobility for industrial and automotive applications.

 

Robert Bosch GmbH is a leading company that offers innovative solutions and technologies to help companies of all industries and sizes redefine their offerings. Based in Gerlingen, Germany, the company was founded in 1886. Through its innovative solutions and technologies, the company aims to enhance the safety and sustainability while redefining the future of mobility.

 

Dana Incorporated is a company that is engaged in the manufacturing, distribution, and engineering of energy management solutions and power conveyance for the automotive sector. It is one of the largest suppliers of electrified propulsion systems and drivetrains for passenger vehicles. Through its inveters, in-house gearbox, and thermal and battery management expertise, among others, the company aims to fully electrify the mobility sector.

 

Other market players include Denso Corporation, Hitachi Automotive, Magna International Inc., Marelli Holdings Co., Ltd., Panasonic Holdings Corporation, Valeo Group, and Schaeffler AG, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Vehicle Type
  • Vehicle Drive Type
  • Application
  • Region
Breakup by Component
  • Battery
  • Power Electric Controller
  • Motor/Generator
  • Converter
  • Transmission
  • On-board Charger
Breakup by Vehicle Type
  • Passenger Car
  • Commercial Vehicle
Breakup by Vehicle Drive Type
  • Front Wheel Drive
  • Rear Wheel Drive
  • All Wheel Drive
Breakup by Application
  • BEV
  • PHEV
  • FCEV
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • ZF Friedrichshafen AG
  • Robert Bosch GmbH
  • Dana Incorporated
  • Denso Corporation
  • Hitachi Automotive
  • Magna International Inc.
  • Marelli Holdings Co., Ltd.
  • Panasonic Holdings Corporation
  • Valeo Group
  • Schaeffler AG
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Electric Powertrain Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Electric Powertrain Historical Market (2018-2023) 
    8.3    Global Electric Powertrain Market Forecast (2024-2032)
    8.4    Global Electric Powertrain Market by Component
        8.4.1    Battery
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2023)
            8.4.1.3    Forecast Trend (2024-2032)
        8.4.2    Power Electric Controller
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2023)
            8.4.2.3    Forecast Trend (2024-2032)
        8.4.3    Motor/Generator
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2023)
            8.4.3.3    Forecast Trend (2024-2032)
        8.4.4    Converter
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2023)
            8.4.4.3    Forecast Trend (2024-2032)
        8.4.5    Transmission
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2018-2023)
            8.4.5.3    Forecast Trend (2024-2032)
        8.4.6    On-board Charger
            8.4.6.1    Market Share
            8.4.6.2    Historical Trend (2018-2023)
            8.4.6.3    Forecast Trend (2024-2032)
    8.5    Global Electric Powertrain Market by Vehicle Type
        8.5.1    Passenger Car
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2023)
            8.5.1.3    Forecast Trend (2024-2032)
        8.5.2    Commercial Vehicle
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2023)
            8.5.2.3    Forecast Trend (2024-2032)
    8.6    Global Electric Powertrain Market by Vehicle Drive Type
        8.6.1    Front Wheel Drive
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2023)
            8.6.1.3    Forecast Trend (2024-2032)
        8.6.2    Rear Wheel Drive
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2023)
            8.6.2.3    Forecast Trend (2024-2032)
        8.6.3    All Wheel Drive
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2023)
            8.6.3.3    Forecast Trend (2024-2032)
    8.7    Global Electric Powertrain Market by Application
        8.7.1    BEV
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2023)
            8.7.1.3    Forecast Trend (2024-2032)
        8.7.2    PHEV
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2023)
            8.7.2.3    Forecast Trend (2024-2032)
        8.7.3    FCEV
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2023)
            8.7.3.3    Forecast Trend (2024-2032)
    8.8    Global Electric Powertrain Market by Region
        8.8.1    North America
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2023) 
            8.8.1.3    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2023) 
            8.8.2.3    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2023) 
            8.8.3.3    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2018-2023) 
            8.8.4.3    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2018-2023) 
            8.8.5.3    Forecast Trend (2024-2032)
9    North America Electric Powertrain Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2023) 
        9.1.3    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2023) 
        9.2.3    Forecast Trend (2024-2032)
10    Europe Electric Powertrain Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2023) 
        10.1.3    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2023) 
        10.2.3    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2023) 
        10.3.3    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2023) 
        10.4.3    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Electric Powertrain Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2023) 
        11.1.3    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2023) 
        11.2.3    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2023) 
        11.3.3    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2023) 
        11.4.3    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2023) 
        11.5.3    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Electric Powertrain Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2023) 
        12.1.3    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2023) 
        12.2.3    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2023) 
        12.3.3    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Electric Powertrain Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2023) 
        13.1.3    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2023) 
        13.2.3    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2023) 
        13.3.3    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2023) 
        13.4.3    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis  
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price  
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    ZF Friedrichshafen AG
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Robert Bosch GmbH
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Dana Incorporated 
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Denso Corporation
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Hitachi Automotive
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Magna International Inc.
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Marelli Holdings Co., Ltd.
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Panasonic Holdings Corporation
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Valeo Group 
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Schaeffler AG
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Others  
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Electric Powertrain Market: Key Industry Highlights, 2018 and 2032
2.    Global Electric Powertrain Historical Market: Breakup by Component (USD Billion), 2018-2023
3.    Global Electric Powertrain Market Forecast: Breakup by Component (USD Billion), 2024-2032
4.    Global Electric Powertrain Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
5.    Global Electric Powertrain Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
6.    Global Electric Powertrain Historical Market: Breakup by Vehicle Drive Type (USD Billion), 2018-2023
7.    Global Electric Powertrain Market Forecast: Breakup by Vehicle Drive Type (USD Billion), 2024-2032
8.    Global Electric Powertrain Historical Market: Breakup by Application (USD Billion), 2018-2023
9.    Global Electric Powertrain Market Forecast: Breakup by Application (USD Billion), 2024-2032
10.    Global Electric Powertrain Historical Market: Breakup by Region (USD Billion), 2018-2023
11.    Global Electric Powertrain Market Forecast: Breakup by Region (USD Billion), 2024-2032
12.    North America Electric Powertrain Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    North America Electric Powertrain Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Europe Electric Powertrain Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Europe Electric Powertrain Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Asia Pacific Electric Powertrain Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Asia Pacific Electric Powertrain Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Latin America Electric Powertrain Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Latin America Electric Powertrain Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Middle East and Africa Electric Powertrain Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Middle East and Africa Electric Powertrain Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Global Electric Powertrain Market Structure

Key Questions Answered in the Report

In 2023, the global market for electric powertrain reached a value of nearly USD 113.50 billion.

The market is projected to grow at a CAGR of 14.4% during the forecast period of 2024-2032.

The market is estimated to reach a value of around USD 380.90 billion by 2032.

The market is being driven by the growing adoption of electric vehicles, the increasing trend of sustainability and efficiency of electric powertrains, and low ownership costs offered by electric vehicles.

The introduction of favourable government initiatives aimed at boosting the manufacturing and sales of electric vehicles and advancements in battery technology are the key trends guiding the market growth.

The major regions in the market include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The various components of electric powertrain include battery, power electric controller, motor/generator, converter, transmission, and onboard charger.

The significant sivehicle types considered in the market report include passenger car and commercial vehicle.

The major vehicle drive types considered in the market report include front wheel drive, rear wheel drive, and all wheel drive.

The different applications of electric powertrains are BEV, PHEV, and FCEV.

The key players in the market include ZF Friedrichshafen AG, Robert Bosch GmbH, Dana Incorporated, Denso Corporation, Hitachi Automotive, Magna International Inc., Marelli Holdings Co., Ltd., Panasonic Holdings Corporation, Valeo Group, and Schaeffler AG., among others.

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