The global Electric Vehicle Powertrain Market size was valued at USD 88.25 billion in 2021 growing at a CAGR of 34.72% from 2022 to 2032. The powertrain is a vital part of the Electrical vehicles that endure hitting the market this year. The EV segment will realize growth because of the attention of people to electrically operated vehicles. There is an inquisitiveness among individuals regarding electric vehicles and automobiles. This is because electric cars and vehicles offer room for sustainability and alternate fuel consumption. The upcoming automobile segment is electrical power. Therefore, the forecasts for this vital component of electric vehicles are very good in the future.
The driving factor of the Electric Vehicle Powertrain Market are:
- Economic improvement in developing countries
- Stringent emission regulations
- Growing new energy vehicles (NEV) demand
- The rising demand for energy-efficient EV drivetrain system
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Key Highlights:
- The global Electric Vehicle Powertrain Market size was valued at USD 25 billion in 2021 growing at a CAGR of 34.72% from 2022 to 2032.
- Asia Pacific dominated the market in 2021
- North America is expected to fastest-growing at the highest CAGR from 2022 to 2032
Key Players
The Electric Vehicle Powertrain Market report gives comprehensive information about the company and its past performance. The report also provides a detailed market share analysis along with product benchmarking with key developments.
The key players profiled in the report are:
- WEG (Brazil)
- Bonfiglioli Riduttori S.P.A (Italy)
- IET S.p.A. (Italy)
- Continental AG (Germany)
- AVL List GmbH (Austria)
- Mitsubishi Electric Corp (Japan)
- Magna International Inc. (Canada)
- Dana Incorporated (US)
- Automation Tooling Systems Inc. (Canada)
- GKN PLC (UK)
- NXP Semiconductors (the Netherlands)
- Robert Bosch GmbH (Germany)
- BorgWarner Inc. (US)
The Global Electric Vehicle Powertrain Market report also includes information on company profiles, product descriptions, revenue, market share data, and contact details for several regional, global, and local companies. Due to increased technological innovation, R&D, and M&A operations in the sector, the market is becoming more popular in particular niche sectors. Additionally, a large number of regional and local vendors in the Electric Vehicle Powertrain Market provide specialized product offerings according to geographical regions in keeping with the global manufacturing footprint. Due to the reliability, quality, and technological modernity of the worldwide suppliers, it is difficult for the new market entrants to compete.
COVID Impact
In terms of COVID-19 impact, the Electric Vehicle Powertrain Market report also includes the following data points:
- COVID-19 Impact on Electric Vehicle Powertrain Market size
- End-User/Industry/Application Trend, and Preferences
- Government Policies/Regulatory Framework
- Key Player’s Strategy to Tackle Negative Impact/Post-COVID Strategies
- Opportunity in the IFF System Market
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Scope of the Report:
Market Segment by Component:
- Battery
- E-Motor
- Power Electronics
- Thermal Management Modules
- others
Market Segment by Propulsion:
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicles (PHEV)
Market Segment by Vehicle Type:
- Passenger Car
- Commercial Vehicle
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Key Region/ Countries Covered
- North America (US, Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and the Rest of MEA)
- Latin America (Mexico, Brazil, Argentina, Rest of Latin America)
The Electric Vehicle Powertrain Market was run by the Asia Pacific region. The electric vehicle powertrain market share was shadowed by the European and North American regions. The Asia Pacific region primes the electric vehicle powertrain market share in the next few years too. The North American region will also raise in the estimated period.
Reasons to Buy this Report:
- Detail analysis of the impact of market drivers, restraints, and opportunities
- Competitive Intelligence provides an understanding of the ecosystem
- Details analysis of the Total Addressable Market (TAM) of your products
- Investment Pockets and New Business Opportunities
- Demand-supply gap analysis
- Strategy Planning
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