Global Electric Powertrain Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Electric Powertrain Market” is the title of an upcoming report offered by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global electric powertrain market has been segmented on the basis of component, electric vehicle, as well as regions and countries.
In a motor vehicle, the powertrain or powerplant comprises the main components that generates power and delivers that power to the road surface, water or air. All electric vehicles have an electric motor instead of an internal combustion engine, and uses a large traction battery to power the motor.
The increasing sales of hybrid and pure electric vehicles, as well as the enforcement of stringent standards for greenhouse gas emissions by respective governing bodies are primary factors that are expected to fuel revenue growth of the global electric powertrain market in the years to come.
The steady transition of consumer preferences from fossil fuel-powered conventional vehicles to electric vehicles on account of increasing awareness concerning environmental pollution is a contributing factor to the revenue growth of this global market in the foreseeable future.
Numerous technological innovations being incorporated in battery production technology (which is a significant cost item in electric vehicles), is expected to make electric vehicles more competitive cost-wise to conventional Internal Combustion Engine (ICE) vehicles. This is expected to significantly boost revenue growth of the global electric powertrain market in the years to come.
In light of the recent COVID-19 outbreak, the manufacturing and supply chain operations of several industries, including the electric powertrain market, have been severely affected. Individuals as a result are looking to spend less presently, and this is slated to have an immense impact on the revenue growth of the global electric powertrain market in the foreseeable future.
Segmentation of the global electric powertrain market is as follows:
In terms of component, the battery segment accounted for the majority revenue share of the global electric powertrain market in 2019, as it is the most prominent component in electric vehicles. The motor/generator segment is slated to register the highest rate of revenue growth over the next 10 years, due to the increasing global penetration of Plug-In Electric Vehicles (PHEV’s) and Battery Electric Vehicles (BEV’s).
With respect to electric vehicle insights, the BEV segment accounted for the majority revenue shares of the global electric powertrain market in 2019, due to the enforcement of strict CO2 emission standards, and the slowdown in the adoption of conventional ICE vehicles. The PHEV’s/HEV segment however, is slated to index the highest rate of revenue growth in the coming years.
Regional Segmentation and Analysis:
The markets in the APAC accounted for the majority revenue share of the global electric powertrain in 2019, owing to the implementation of strict emission rules, the increasing penetration of electric vehicles, as well as rising per capita incomes of the individuals in this region. The markets in Europe as also expected to register considerable revenue growth owing to the large presence of original equipment manufacturers in this region.
Segmentation of the Global Electric Powertrain Market:
Segmentation by Component Outlook:
- Power Electronics Controller
- On-board Charger
Segmentation by Electric Vehicle:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Mitsubishi Electric Corp
- Schaeffler AG
- ZF Friedrichshafen AG
- Magna International Inc.
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