Electric Powertrain Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Vehicle Type (BEV and HEV/PHEV); Component (Motor/Generator, Battery, Power Electronics Controller, Converter, Transmission, and On-board charger); Region/Country
Detailed Analysis of COVID-19 Impact on the Electric Powertrain Market
The Global Electric Powertrain Market is expected to witness a significant CAGR of around 15% during the forecast period. This is mainly due to the steady growth in vehicle sales with the overall demand for advanced electric systems. Autonomous driving (AD) and electrification of the vehicle are the major trends that are mutually reinforcing developments in the automotive industry. Furthermore, the rising adoption of electric vehicles in also driving the demand for electric powertrains. Thus, these trends combined, are not only disrupting the automotive value chain and impacting all stakeholders but also are major drivers for the market.
Some of the major players operating in the market include Robert Bosch GmbH, Mitsubishi Electric Corp, Magna International Inc., Continental AG, Schaeffler AG, BorgWarner Inc., ZF Friedrichshafen AG, Valeo SE, Nidec Corporation, and Magneti Marelli Ck Holdings.
Insights Presented in the Report
“Amongst vehicle type, BEV to witness significant growth during the forecast period”
Based on vehicle type, the electric powertrain market is divided into BEV and HEV/PHEV. The BEV segment is expected to witness the highest growth during the forecast period owing to the increasing demand for electric vehicles, stricter standards, and modernization of conventional engines around the world. The increasing electrification of vehicles coupled with stricter government emission standards is some of the factors expected to boost sales of automotive powertrains worldwide.
“Amongst component, battery category to hold prominent share during the forecast period”
Based on component, the electric powertrain market is categorized into motor/generator, battery, power electronics controller, converter, transmission, and onboard charger. An electric vehicle has significant emission benefits over conventional vehicles & run-on alternate power sources such as battery electricity, natural gas, and gasoline (in the case of PHEV). The growth of the electric vehicle battery industry expanded significantly over the last few years, underpinned by supportive policies and technological advances for clean energy across the world. For instance, as per IEA, only about 17,000 electric cars were on the world’s roads in 2010. By 2019, that number had swelled to 7.2 million, 47% of which were in The People’s Republic of China (“China”). The surging demand for EVs would propel the demand for EV batteries thus increasing the market size of the electric vehicle battery market. However, environmental harm caused while manufacturing and disposal of batteries would hamper the growth.
“APAC to hold a significant share in the market”
APAC grabbed the leading market share of the global automotive chips market in 2020, and it is expected to grow with considerable CAGR during the forecast period owing to the growing working population and expanding middle-class population thus creating demand for new-age electric vehicles. Furthermore, China is one of the largest manufacturers and consumers of electric vehicles in the world. The domestic demand is being supported by national sales targets, favorable laws, and municipal air-quality targets.
In addition, supportive government initiatives and schemes to promote the adoption of sustainable mobility solutions to reduce the pollution level from vehicles will propel the market expansion. Moreover, major OEMs are continuously launching premium EVs with advanced features in the region supporting the market growth of electric powertrain. For instance, In July 2021, Audi launched 2 EVs: the e-tron SUV and e-tron Sportback in India as well as in other parts of the region. The e-tron SUV is available in the e-tron 50 variant with a 71 kWh battery and two electric motors.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the Electric Powertrain Market|
|2.2.||Research Methodology of the Electric Powertrain Market|
|5||IMPACT OF COVID-19 ON THE ELECTRIC POWERTRAIN MARKET|
|6||ELECTRIC POWERTRAIN MARKET REVENUE (USD BN), 2020-2028F|
|8.3.||Power Electronics Controller|
|9.1.3.||Rest of North America|
|9.2.6.||Rest of Europe|
|9.3.4.||Rest of Asia-Pacific|
|9.4.||Rest of the World|
|11||ELECTRIC POWERTRAIN MARKET OPPORTUNITIES|
|12||ELECTRIC POWERTRAIN MARKET TRENDS|
|13.1.||Demand Side Analysis|
|13.2.||Supply Side Analysis|
|14||VALUE CHAIN ANALYSIS|
|15.1.1.||Porters Fiver Forces Analysis|
|16.1.||Robert Bosch GmbH|
|16.2.||Mitsubishi Electric Corp|
|16.3.||Magna International Inc.|
|16.7.||ZF Friedrichshafen AG|
|16.10.||Magneti Marelli Ck Holdings|
Research Methodology for the Electric Powertrain Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global electric powertrain market were the three major steps undertaken to create and analyze the adoption of an electric powertrain in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global electric powertrain market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the electric powertrain market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the electric powertrain market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as vehicle type and component. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Electric Powertrain market. Further, we conducted factor analysis using dependent and independent variables such as various vehicle type and components of electric powertrain. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the electric powertrain market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global electric powertrain market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the electric powertrain market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global electric powertrain market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Primary research input was consolidated with secondary findings, turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global electric powertrain market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of vehicle type and component in the global electric powertrain market.
The main objective of the Global Electric Powertrain Market Study
The current & future market trends of the global electric powertrain market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the electric powertrain market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of vehicle type and component analysis of the regulatory framework for the electric powertrain industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the electric powertrain market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the electric powertrain market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry