Electric Powertrain Market to Touch USD 1365 Billion by 2030 due to Advancements in Battery Technology and Rising Energy Independence | Research By SNS Insider
According to SNS Insider’s research, the electric powertrain market is being driven by a combination of environmental concerns, technological advancements, government support, and shifting consumer preferences.
Pune, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The **Electric Powertrain Market**, as per the **SNS Insider report**, achieved a valuation of USD 116.68 billion in 2022 and is projected to attain USD 1365 billion by 2030, exhibiting a robust compound annual growth rate (CAGR) of 36% throughout the forecast period from 2023 to 2030.
*Market Overview*
An electric powertrain, also known as an electric propulsion system, is a sophisticated and environmentally friendly technology that drives various types of vehicles, from electric cars and buses to e-bikes and electric trains. It represents a paradigm shift in the automotive and transportation industries, moving away from traditional internal combustion engines (ICE) toward cleaner and more efficient methods of propulsion. The electric powertrain is a key component of this transformation, and it plays a pivotal role in powering these vehicles by converting electrical energy into mechanical motion.
**Download Free Sample PDF Brochure: ****https://www.snsinsider.com/sample-request/1274**** **
*Market Analysis*
The electric powertrain market is experiencing unprecedented growth, driven by a confluence of factors that are reshaping the automotive industry and transportation as a whole. Governments worldwide are implementing stringent emission standards and encouraging the adoption of electric vehicles (EVs) to combat air pollution and reduce greenhouse gas emissions. This has pushed automakers to invest heavily in electric powertrains to meet these regulations and consumers' growing demand for eco-friendly vehicles. One of the primary barriers to electric vehicle adoption has been range anxiety. However, continuous advancements in battery technology are rapidly improving the energy density, charging speed, and overall performance of electric vehicle batteries. These advancements make EVs more appealing and convenient for consumers. Growing environmental awareness, concerns about fuel prices, and a desire for the latest technology have fueled consumer demand for electric vehicles. The increasing variety of electric vehicle models from different automakers is also attracting a broader range of consumers.
*Electric Powertrain **Market **Overview & Scope:*
*Report Attributes* *Details*
*Market Size in 2022* USD 116.68 billion
*Market Size by 2030* USD 1365 billion
*CAGR* CAGR of 36% from 2023-2030
*Key Segments* *by Type *(BEV, MHEV, Series, Parallel & Parallel-Series)
*by Vehicle Type *(Passenger Vehicles, Commercial vehicles)
*by Components *(Motor, 12V, HV/48V Battery, BMS, 48V ISG, Controller, PDM, DC/AC Inverter, DC/DC Converter & Others)
*Key Market Players* *ZF Friedrichshafen AG (Germany), EPT Co., Inc. (South Korea), Bonfiglioli Riduttori S.P.A (Italy), WEG (Brazil), GKN PLC (UK), NXP Semiconductors (the Netherlands), IET S.p.A. (Italy), Robert Bosch GmbH (Germany), Automation Tooling Systems Inc. (Canada), BorgWarner Inc. (US), AVL List GmbH (Austria), Mitsubishi Electric Corp (Japan), Magna International Inc. (Canada), Continental AG (Germany), Dana Incorporated (US)** *and other players
*20% free customization scope (equivalent to 50 analyst working hours)* If you need specific information as per your business requirement, which is not currently within the scope of the report, we will provide it to you as a part of customization.
*Pricing & Purchase Options* Avail customized purchase options to meet your exact research needs. Explore purchase options.
*Key Takeaway from Electric Powertrain Market Study *
· The Battery Electric Vehicle (BEV) segment is poised to dominate the market in the coming years. This shift signifies a revolutionary transformation in the automotive industry, with BEVs gradually replacing traditional internal combustion engine vehicles. Several factors contribute to the ascendancy of BEVs in the market.
· Within the market, the passenger vehicles segment stands out as a dominant force. This segment encompasses a wide range of electric vehicles (EVs) designed primarily for personal transportation, including compact cars, sedans, hatchbacks, and SUVs. Several factors contribute to the continued rise of the passenger vehicles segment in the market.
*Recent Developments*
· Toyota's commitment to sustainable mobility reached another milestone as the company proudly announced its latest achievement: receiving a zero-emission Executive Order from the California Air Resources Board (CARB) for its Heavy-Duty (HD) fuel cell electric powertrain kit.
· Fortescue, the Australian mining giant, is making significant strides in expanding its battery and electric powertrain production operations in the United Kingdom. The expansion of Fortescue's operations in the UK is a strategic response to the growing demand for renewable energy solutions in Europe and beyond.
**Inquiry Before Buying:**** ****https://www.snsinsider.com/enquiry/1274**** **
*Market Dynamics Analysis*
The electric powertrain market is currently experiencing a dynamic landscape characterized by a myriad of drivers, restraints, challenges, and threats. One of the prominent drivers propelling the growth of this market is the increasing global emphasis on environmental sustainability. Stricter emissions regulations and a growing awareness of the detrimental effects of traditional internal combustion engines are compelling automakers to invest heavily in electric powertrains. Moreover, the continuous advancements in battery technology are driving down costs and enhancing the range and performance of electric vehicles, making them more appealing to consumers. However, there are significant restraints that hinder the market's rapid expansion. The primary challenge lies in the infrastructure required to support electric vehicles, such as charging stations. A lack of widespread charging infrastructure can deter potential buyers due to concerns about range anxiety. Additionally, the high upfront costs of electric vehicles and the limited availability of affordable models pose financial barriers to widespread adoption.
*Key Regional Developments*
North America has been at the forefront of electric powertrain adoption, with Tesla's success and widespread charging infrastructure. Government incentives and emission reduction goals are pushing automakers to invest heavily in electric vehicles (EVs) and powertrain technology. Europe is witnessing a rapid shift towards electric powertrains, driven by stringent emissions regulations and environmental awareness. Countries like Norway have the highest EV market share globally, primarily due to generous incentives. Asia Pacific dominates the global electric powertrain market, both in terms of production and consumption, thanks to strong government support and incentives. Japan and South Korea are making strides in EV technology, with companies like Nissan (Leaf) and Hyundai (Kona) gaining popularity.
*Impact of Recession*
The impact of the ongoing recession on the electric powertrain market is complex and multifaceted. While reduced consumer spending and supply chain disruptions pose challenges, government incentives, environmental awareness, and continued innovation offer opportunities for growth. The long-term success of the market will depend on a combination of economic recovery, regulatory support, and technological advancements that make electric vehicles more accessible and appealing to consumers and businesses.
**Buy This Exclusive Report:**** ****https://www.snsinsider.com/checkout/1274**** **
**Table of Contents**
1. **Introduction**
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
**2. Research Methodology**
**3. Market Dynamics**
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
**4. Impact Analysis**
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
**5. Value Chain Analysis**
**6. Porter’s 5 forces model**
**7. PEST Analysis**
**8. Global Electric Powertrain Market Segmentation, by Type**
8.1 BEV Powertrain
8.2 MHEV Powertrain
8.3 Series Hybrid Powertrain
8.4 Parallel Hybrid Powertrain
8.5 Series-Parallel Hybrid Powertrain
**9. Global Electric Powertrain Market Segmentation, by Vehicle type**
9.1 Passenger vehicles
9.2 Commercial vehicles
**10. Global Electric Powertrain Market Segmentation, by Components**
10.1 Motor/Generator
10.2 HV Battery
10.3 Battery Management System
10.4 Controller
10.5 12V Battery
10.6 On-board Charger
10.7 DC/DC Converter
10.8 DC/AC Inverter
10.9 Power Distribution Module
10.10 Regenerative Braking
**11.**** Regional Analysis**
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Eastern Europe
11.3.1.2 Poland
11.3.1.3 Romania
11.3.1.4 Hungary
11.3.1.5 Turkey
11.3.1.6 Rest of Eastern Europe
11.3.2 Western Europe
11.3.2.1 Germany
11.3.2.2 France
11.3.2.3 UK
11.3.2.4 Italy
11.3.2.5 Spain
11.3.2.6 Netherlands
11.3.2.7 Switzerland
11.3.2.8 Austria
11.3.2.9 Rest of Western Europe
11.4 Asia-Pacific
11.4.1 China
11.4.2 India
11.4.3 Japan
11.4.4 South Korea
11.4.5 Vietnam
11.4.6 Singapore
11.4.7 Australia
11.4.8 Rest of Asia-Pacific
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 UAE
11.5.1.2 Egypt
11.5.1.3 Saudi Arabia
11.5.1.4 Qatar
11.5.1.5 Rest of Middle East
11.5.2. Africa
11.5.2.1 Nigeria
11.5.2.2 South Africa
11.5.2.3 Rest of Africa
11.6. Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Colombia
11.6.4 Rest of Latin America
**12. Company Profiles**
12.1 Robert Bosch GmbH (Germany),
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 ZF Friedrichshafen AG (Germany)
12.3 EPT Co., Inc. (South Korea)
12.4 WEG (Brazil)
12.5 Bonfiglioli Riduttori S.P.A (Italy)
12.6 Automation Tooling Systems Inc. (Canada)
12.7 GKN PLC (UK)
12.8 NXP Semiconductors (the Netherlands)
12.9 IET S.p.A. (Italy)
12.10 Robert Bosch GmbH (Germany)
12.11 BorgWarner Inc. (US)
12.12 AVL List GmbH (Austria)
12.13 Mitsubishi Electric Corp (Japan)
12.14 Magna International Inc. (Canada)
12.15 Continental AG (Germany)
12.16 Dana Incorporated (US)
**13. Competitive Landscape**
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
**14. Conclusion**
**Browse Adjacent Markets: ****Automotive Industry Research**** ****or ****Semiconductor Industry Research**** ****Reports & Consulting**
**About SNS Insider**
At SNS Insider, we believe that businesses should have access to the best market intelligence and insights, regardless of their size or industry. That's why we offer a range of solutions tailored to meet the unique needs of each client, from startups to big corporations. With a passion for our work and an unwavering commitment to delivering value, we are dedicated to helping our clients achieve their full potential.
CONTACT: Contact Us:
Akash Anand – Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US)