The global electric powertrain market revenue was around US$ 108 billion in 2022 and is estimated to reach US$ 1,075.8 billion by 2031, growing at a compound annual growth rate (CAGR) of 29.1% during the forecast period from 2023 to 2031.
An electric powertrain is the set of components in an electric vehicle that transmits battery power to the surface where the vehicle runs. The component in an electric powertrain contains an inverter, which transforms the battery's direct current (DC) power to Alternating current (AC) and drives the induction motor in the vehicle for propulsion.
Market Driving Factors
The increasing trend of downsized engines is estimated to drive the market growth. This is due to the downsizing of an engine is a method of enhancing fuel efficiency in an internal combustion engine (ICE) to use smaller combustion engines over bigger ones of the exact power capacity when manufacturing automobiles. Therefore, engine designers are discovering better methods to extract more power from less amounts of fuel.
Increasing infrastructural developments for electric vehicle stations are estimated to create possibilities in the market. Developing charging infrastructure can be daunting and costly. It involves disrupting already congested travel corridors and discovering appropriate charging spaces and significant outlays to acquire a proper electric vehicle (EV) charging infrastructure network. In addition, this requires to be supplemented with alternate solutions such as establishing charging points within housing societies, residential complexes, parking lots, shopping malls, railway stations, small shops, and offices. Thus, governments worldwide are concentrating on infrastructural development for the EV landscape and promoting EV usage.
High manufacturing price is estimated to constrain the market growth.
Regional Analysis
Europe dominated the market in terms of revenue and is estimated to maintain its dominance. This can be largely attributed to the existence of multiple Original Equipment Manufacturers (OEMs) in the region. Furthermore, nations such as Norway, Sweden, and France, have witnessed high adoption of electric vehicles (EVs), which is likely to contribute to the market growth in the region.
Asia Pacific is expected to dominate the market in terms of the largest shares. This is mainly due to the nations such as Japan, China, India, and South Korea are among the major automobile manufacturers in this region. Furthermore, strict government laws and emission norms to solve the global warming problems resulting from significant carbon dioxide (Co2) emissions and the increasing adoption of electric vehicles in nations such as China and India are anticipated to stimulate the demand for electric powertrains in the region.
Segmentation Insights
Application Insight
BEV segment dominates the market in terms of the largest shares. This is because the sales of internal combustion engine (ICE) vehicles have decreased, and carbon dioxide targets have been tightened. As a result, the most suitable way to less down on pollution and decrease the total price of ownership, in the long run, is for more individuals to buy BEVs. Thus, improvements in battery technology and lower costs for lithium-ion batteries are likely to raise the demand for BEVs.
Component Insight
The motor/generator segment dominates the market in terms of revenue. This is majorly due to the increasing number of BEVs around the world driving the requirement for e-motors. Furthermore, the electric motors in these vehicles can be set up exactly. Furthermore, suppliers and OEMs are likely to develop joint ventures to create e-motors to benefit from the increasing demand for electric powertrains.
The battery segment is estimated to dominate the market in terms of the major shares. This is due to the increase in battery-operated automobiles that function at the same level as gasoline-fuel automobiles.
Prominent Companies
Segmentation Outline
The global electric powertrain market segmentation focuses on the Application, Component, Vehicle Type, Vehicle Class, Vehicle Drive Type, and Region.
By Application
By Component
By Vehicle Type
By Vehicle Class
By Vehicle Drive Type
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL ELECTRIC POWERTRAIN MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: ELECTRIC POWERTRAIN MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL ELECTRIC POWERTRAIN MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL ELECTRIC POWERTRAIN MARKET, BY APPLICATION
5.1 OVERVIEW
5.2 BEV
5.3 PHEV
5.4 FCEV
6 GLOBAL ELECTRIC POWERTRAIN MARKET, BY COMPONENT
6.1 OVERVIEW
6.2 BATTERY
6.3 POWER ELECTRONIC CONTROLLER
6.4 MOTOR/GENERATOR
6.5 CONVERTER
6.6 TRANSMISSION
6.7 ON-BOARD CHARGER
7 GLOBAL ELECTRIC POWERTRAIN MARKET, BY VEHICLE TYPE
7.1 OVERVIEW
7.2 PASSENGER CAR
7.3 COMMERCIAL VEHICLE
8 GLOBAL ELECTRIC POWERTRAIN MARKET, BY VEHICLE CLASS
8.1 OVERVIEW
8.2 MID-PRICED
8.3 LUXURY
9 GLOBAL ELECTRIC POWERTRAIN MARKET, BY VEHICLE DRIVE TYPE
9.1 OVERVIEW
9.2 FRONT WHEEL DRIVE
9.3 REAR WHEEL DRIVE
9.4 ALL-WHEEL DRIVE
10 GLOBAL ELECTRIC POWERTRAIN MARKET, BY GEOGRAPHY
10.1 OVERVIEW
10.2 NORTH AMERICA
10.2.1 NORTH AMERICA MARKET SNAPSHOT
10.2.2 U.S.
10.2.3 CANADA
10.2.4 MEXICO
10.3 EUROPE
10.3.1 EUROPE MARKET SNAPSHOT
10.3.2 WESTERN EUROPE
10.3.2.1 THE UK
10.3.2.2 GERMANY
10.3.2.3 FRANCE
10.3.2.4 ITALY
10.3.2.5 SPAIN
10.3.2.6 REST OF WESTERN EUROPE
10.3.3 EASTERN EUROPE
10.3.3.1 POLAND
10.3.3.2 RUSSIA
10.3.3.3 REST OF EASTERN EUROPE
10.4 ASIA PACIFIC
10.4.1 ASIA PACIFIC MARKET SNAPSHOT
10.4.2 CHINA
10.4.3 JAPAN
10.4.4 INDIA
10.4.5 AUSTRALIA & NEW ZEALAND
10.4.6 ASEAN
10.4.7 REST OF ASIA PACIFIC
10.5 MIDDLE EAST & AFRICA
10.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
10.5.2 UAE
10.5.3 SAUDI ARABIA
10.5.4 SOUTH AFRICA
10.5.5 REST OF MEA
10.6 SOUTH AMERICA
10.6.1 SOUTH AMERICA MARKET SNAPSHOT
10.6.2 BRAZIL
10.6.3 ARGENTINA
10.6.4 REST OF SOUTH AMERICA
11 GLOBAL ELECTRIC POWERTRAIN MARKET COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 COMPANY MARKET RANKING
11.3 KEY DEVELOPMENT STRATEGIES
11.4 COMPETITIVE DASHBOARD
11.5 PRODUCT MAPPING
11.6 TOP PLAYER POSITIONING, 2022
11.7 COMPETITIVE HEATMAP
11.8 TOP WINNING STRATEGIES
12 COMPANY PROFILES
12.1 MAGNA INTERNATIONAL INC.
12.1.1 OVERVIEW
12.1.2 FINANCIAL PERFORMANCE
12.1.3 PRODUCT OUTLOOK
12.1.4 KEY DEVELOPMENTS
12.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.2 SCHAEFFLER AG
12.2.1 OVERVIEW
12.2.2 FINANCIAL PERFORMANCE
12.2.3 PRODUCT OUTLOOK
12.2.4 KEY DEVELOPMENTS
12.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.3 DENSO
12.3.1 OVERVIEW
12.3.2 FINANCIAL PERFORMANCE
12.3.3 PRODUCT OUTLOOK
12.3.4 KEY DEVELOPMENTS
12.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.4 VALEO
12.4.1 OVERVIEW
12.4.2 FINANCIAL PERFORMANCE
12.4.3 PRODUCT OUTLOOK
12.4.4 KEY DEVELOPMENTS
12.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.5 MITSUBISHI ELECTRIC CORP
12.5.1 OVERVIEW
12.5.2 FINANCIAL PERFORMANCE
12.5.3 PRODUCT OUTLOOK
12.5.4 KEY DEVELOPMENTS
12.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.6 DANA INCORPORATED
12.6.1 OVERVIEW
12.6.2 FINANCIAL PERFORMANCE
12.6.3 PRODUCT OUTLOOK
12.6.4 KEY DEVELOPMENTS
12.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.7 BORGWARNER
12.7.1 OVERVIEW
12.7.2 FINANCIAL PERFORMANCE
12.7.3 PRODUCT OUTLOOK
12.7.4 KEY DEVELOPMENTS
12.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.8 BOSCH LIMITED
12.8.1 OVERVIEW
12.8.2 FINANCIAL PERFORMANCE
12.8.3 PRODUCT OUTLOOK
12.8.4 KEY DEVELOPMENTS
12.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.9 HITACHI
12.9.1 OVERVIEW
12.9.2 FINANCIAL PERFORMANCE
12.9.3 PRODUCT OUTLOOK
12.9.4 KEY DEVELOPMENTS
12.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.10 BRUSA ELECTRONIK
12.10.1 OVERVIEW
12.10.2 FINANCIAL PERFORMANCE
12.10.3 PRODUCT OUTLOOK
12.10.4 KEY DEVELOPMENTS
12.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.11 MAGNETI MARELLI CK HOLDINGS
12.11.1 OVERVIEW
12.11.2 FINANCIAL PERFORMANCE
12.11.3 PRODUCT OUTLOOK
12.11.4 KEY DEVELOPMENTS
12.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.12 CC POWER ELECTRONICS
12.12.1 OVERVIEW
12.12.2 FINANCIAL PERFORMANCE
12.12.3 PRODUCT OUTLOOK
12.12.4 KEY DEVELOPMENTS
12.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.13 NIDEC CORPORATION
12.13.1 OVERVIEW
12.13.2 FINANCIAL PERFORMANCE
12.13.3 PRODUCT OUTLOOK
12.13.4 KEY DEVELOPMENTS
12.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.14 TOYOTA INDUSTRIES CORPORATION
12.14.1 OVERVIEW
12.14.2 FINANCIAL PERFORMANCE
12.14.3 PRODUCT OUTLOOK
12.14.4 KEY DEVELOPMENTS
12.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.15 PANASONIC
12.15.1 OVERVIEW
12.15.2 FINANCIAL PERFORMANCE
12.15.3 PRODUCT OUTLOOK
12.15.4 KEY DEVELOPMENTS
12.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.16 CONTINENTAL AG
12.16.1 OVERVIEW
12.16.2 FINANCIAL PERFORMANCE
12.16.3 PRODUCT OUTLOOK
12.16.4 KEY DEVELOPMENTS
12.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.17 ZF FRIEDRICHSHAFEN AG
12.17.1 OVERVIEW
12.17.2 FINANCIAL PERFORMANCE
12.17.3 PRODUCT OUTLOOK
12.17.4 KEY DEVELOPMENTS
12.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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