Electric Powertrain Market
Electric Powertrain Market Size, Share & Trends Analysis Report by Vehicle Type (Hybrid and Plug-In Hybrid Vehicle (HEV/PHEV), Battery Electric Vehicle (BEV), 48V Mild Hybrid Vehicle (MHEV)), by HEV/PHEV Powertrain Component (Motor/Generator, HV Battery, 12V Battery, Battery Management System), by BEV Motor/Generator Powertrain Component (Motor/Generator, HV Battery, 12V Battery, Battery Management System), by 48V MHEV powertrain type (48V Battery, 12V Battery, Battery Management System, DC/AC Inverter), by Powertrain Type (BEV Powertrain, MHEV Powertrain, Series Hybrid Powertrain, Parallel Hybrid Powertrain), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)
|Electric Powertrain Market Forecast Year:||2022 - 2028|
|Electric Powertrain Market Historical Year:||2016 - 2021|
|Electric Powertrain Market 2021:||USD 70.5 Billion|
|Electric Powertrain Projected Market 2028:||USD 388.4 Billion|
|Electric Powertrain Market CAGR:||32.9%|
|Fastest Growing Region:||Asia Pacific|
|Largest Region:||Asia Pacific|
The Global Electric Powertrain Market is valued at USD 70.5 Billion in the year 2021 and is expected to reach a value of USD 388.4 Billion by the year 2028. The Global Market is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 32.9% over the forecast period.
Electric vehicles are the automotive market's future; as traditional fuel vehicles are expected to be phased out over the next few years. These vehicles are gaining popularity because they offer better environmental benefits and a lower total cost of ownership when compared to their ICE counterparts. Several countries have enacted strict policies to encourage the use of alternative fuel vehicles, including EVs. In the previous decade, the automotive industry was primarily made up of the same internal combustion engine powertrain. However, as the industry has shifted toward more efficient and environmentally friendly transportation, the industry now has a diverse powertrain mix.
Infrastructure, regulations, consumer preference, and technology all play a role in the growing adoption of electric powertrains. The penetration of PHEVs and BEVs will have a significant impact on the global adoption of electric powertrains. Monitoring CO2 emissions regulations are becoming more stringent. OEMs would have to increase sales of electrified vehicles in the coming years in order to meet emission targets efficiently and avoid penalties. Battery technology advancements have made EVs more competitive than traditional ICE vehicles by increasing range on a single charge. Batteries are an essential component of an Electric Powertrain system.
Market Size Provided for Years
Region & Counties Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
The Electric Powertrain Market is segmented on the basis of Vehicle type, HEV/PHEV powertrain component, BEV powertrain component, 48V MHEV powertrain component and powertrain type. On the basis of vehicle type, the market is segmented into Hybrid and Plug-In Hybrid Vehicle (HEV/PHEV), Battery Electric Vehicle (BEV) and 48V Mild Hybrid Vehicle (MHEV). On the basis of HEV/PHEV powertrain component, the market is segmented into Motor/Generator, HV Battery, 12V Battery, Battery Management System, Controller, DC/AC Inverter, DC/DC Converter, Power Distribution Module, Idle Start-Stop, On-board Charger and Regenerative Braking. On the basis of BEV powertrain component, the market is segmented into Motor/Generator, HV Battery, 12V Battery, Battery Management System, Controller, DC/DC Converter, DC/AC Inverter, Power Distribution Module, On-board Charger and Regenerative Braking. On the basis of48V MHEV powertrain component, the market is segmented into 48V Battery, 12V Battery, Battery Management System, DC/AC Inverter, DC/DC Converter, 48V BSG/ISG, Idle Start-Stop and Regenerative Braking. On the basis of powertrain type, the application is segmented into BEV Powertrain, MHEV Powertrain, Series Hybrid Powertrain, Parallel Hybrid Powertrain and Series-Parallel Hybrid Powertrain.
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Based on Vehicle Type
On the basis of vehicle type, the market is segmented into Hybrid and Plug-In Hybrid Vehicle (HEV/PHEV), Battery Electric Vehicle (BEV) and 48V Mild Hybrid Vehicle (MHEV). Over the forecast period, 48V MHEV is expected to be the fastest-growing market. The slowing of diesel-powered vehicles, as well as CO2 targets, have fueled the 48V MHEV powertrain market. The widespread use of mild hybrids over BEVs is an effective way to reduce emissions. Furthermore, developments and a drop in Lithium-ion battery prices have fueled the MHEV powertrain component market.
Based on Product
On the basis of BEV powertrain component, the market is segmented into Motor/Generator, HV Battery, 12V Battery, Battery Management System, Controller, DC/DC Converter, DC/AC Inverter, Power Distribution Module, On-board Charger and Regenerative Braking. In 2021, the battery segment had the highest revenue share of around 64%. When it comes to vehicle electrification, the battery is the most visible component. It is either used as the sole source of power in BEVs or combined with other sources in green vehicles. In BEVs, the battery pack accounts for roughly half of the total cost. Over the forecast period, technological advancements in battery technology are expected to result in lower battery pack prices.
Asia Pacific Region to Stand Firm on its Leading Position in the Electric Powertrain Market
Asia Pacific is likely to be the fastest-growing regional market over the forecast period with a market share of 43.10%. During the forecast period, Asia Pacific is expected to grow significantly. The primary driver for the high market penetration is a variety of regulatory programs encouraging EV sales, such as EV sales quotas, fuel economy targets, and EV advantages in license plate assignments in countries such as In this area, strict emission restrictions such as BS-VI in India and China VI in China are boosting the e-powertrain market. Partnerships between leading players to build charging infrastructure are driving market growth in this region. China has lithium reserves, which is driving up investment in battery production.
Key players operating in the Global Electric Powertrain Market include- Bosch (Germany), Mitsubishi Electric(Japan), Magna (Canada), Continental AG (Germany), Hitachi (Japan) and others.
Segmentation of the Global Electric Powertrain Market:
Frequently Asked Questions
the global demand for Electric Powertrain
in terms of revenue?
The global Electric Powertrain valued at USD 70.5 Billion in 2020 and is expected to reach USD 388.4 Billion in 2028 growing at a CAGR of 32.9%
are the prominent players
in the market?
The prominent players in the market are Bosch (Germany), Mitsubishi Electric(Japan), Magna (Canada), Continental AG (Germany), Hitachi (Japan).
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 32.9% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Electric Powertrain include
- Growing Vehicle Electrification Demand in Automotive Industry
region accounted for the
largest share in the market?
Asia Pacific was the leading regional segment of the Electric Powertrain in 2020.