Electric Powertrain Market by Component (Battery, DC/AC Inverter, DC/DC Converter), Powertrain (Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), Hybrid Electric Vehicle (HEV)), Power Rating, Vehicle Type - Global Forecast 2024-2030

Electric Powertrain Market by Component (Battery, DC/AC Inverter, DC/DC Converter), Powertrain (Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), Hybrid Electric Vehicle (HEV)), Power Rating, Vehicle Type - Global Forecast 2024-2030

The Electric Powertrain Market size was estimated at USD 104.48 billion in 2023 and expected to reach USD 115.82 billion in 2024, at a CAGR 11.93% to reach USD 230.11 billion by 2030.

The electric powertrain market involves producing, distributing, and integrating components such as battery systems, electric motors, and power electronics that facilitate energy conversion and transmission in electric vehicles. Growing concerns regarding climate change and air pollution have increased consumer demand for low-emission modes of transport, further increasing the demand for electric powertrains. In addition, governments worldwide offer various incentives, including tax subsidies for consumers purchasing EVs or investing in charging infrastructure development. Moreover, the limited availability of natural fuels and high costs have encouraged customers to use electric vehicles, bolstering the demand for electric powertrains. Electric powertrains' high costs and technical issues have limited product penetration worldwide. However, the ongoing advancements in electric powertrains to enhance the performance and longevity of electric vehicles are expected to create growth opportunities for the electric powertrain market in the coming years.

Regional Insights

The electric powertrains market is growing owing to increased penetration of electric vehicles, advancing electric powertrain solutions, and supportive government programs for electric vehicle deployment. American consumers are increasingly adopting electric vehicles (EVs) due to environmental concerns and government incentives. The countries in Europe, the Middle East and Africa have been at the forefront of adopting electric powertrain technology due to strict emissions regulations and strong government support. The Asia-Pacific region observes a rapidly developing market for electric powertrains owing to heavy government investment in charging infrastructure development and battery production capacity expansion. Emerging economies in Asia-Pacific are witnessing a rapid shift toward electric mobility and high financial incentives provided by the government for electric vehicle adoption, which is expected to create lucrative opportunities for the electric powertrain market in the coming years.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Electric Powertrain Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing adoption of electric vehicles to overcome the burden of GHG emissions
Attractive incentives by governments for the domestic production of electric vehicles

Market Restraints

High costs of manufacturing and maintaining electric powertrains

Market Opportunities

Advances in electric powertrain technologies
Heavy investments from automakers in electric vehicles

Market Challenges

Technical limitations associated with electric powertrains

Market Segmentation Analysis

Component: Adoption of advanced electric batteries in electric powertrains
Vehicle Type: Extensive usage of electric powertrains across passenger vehicles for better efficiency and performance

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Electric Powertrain Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Electric Powertrain Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

ABB to launch electric powertrain system for ArcelorMittal Nippon Steel's new steel mill in Gujarat

ABB, Ltd. has launched an electric powertrain system for ArcelorMittal Nippon Steel's new steel mill in Gujarat. This new mill, set to be operational by 2025, focuses on increasing Hazira's production capacity by around 5.5 million tons annually. ABB's drives incorporate direct torque control (DTC) technology, enabling precise management of motor load changes during rolling operations. The expansion of the Hazira plant is a significant initiative that aims to facilitate the adoption of carbon-neutral steel technology developed by ArcelorMittal Nippon Steel.

Lucid Group, Inc. partnered with Aston Martin for a Bold Electric Future

Lucid Group, Inc. has entered into a strategic technology partnership with Aston Martin to accelerate Aston Martin's high-performance electrification strategy and long-term growth. This partnership grants Aston Martin access to Lucid's in-house engineered and manufactured electric powertrain technology. Lucid specializes in advanced electric powertrain technologies, including twin motor drive units, battery systems, and Wunderbox modules. These cutting-edge technologies are incorporated into Aston Martin's upcoming BEV products.

Nissan unveils new approach to electrified powertrain development

Nissan has implemented the X-in-1 approach for developing electrified powertrains in their vehicles. This approach utilizes 3-in-1 and 5-in-1 core components for electric vehicles (EVs) and e-POWER vehicles. The core components are designed to be smaller and lighter, integrating new motor technology that decreases the usage of heavy rare earth elements to 1% or less of magnet weight.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Electric Powertrain Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Electric Powertrain Market, highlighting leading vendors and their innovative profiles. These include Acumuladores Moura SA, Analog Devices, Inc., Avnet, Inc., BorgWarner Inc., BRUSA Elektronik AG, Continental AG, Dana Incorporated, Denso Corporation, Dr. Ing. h.c. F. Porsche AG, Eaton Corporation PLC, Hitachi, Ltd., Hyundai Motor Company, Infineon Technologies AG, Marelli Holdings Co., Ltd., Meritor, Inc., Mitsubishi Electric Corporation, Nidec Corporation, Nissan Motor Co., Ltd., NXP Semiconductors N.V., Panasonic Holding Corporation, Robert Bosch GmbH, Speedgoat GmbH, Toyota Industries Corporation, Valeo Group, and ZF Friedrichshafen AG.

Market Segmentation & Coverage

This research report categorizes the Electric Powertrain Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
Battery
DC/AC Inverter
DC/DC Converter
Electric Motor
On-board Charger
Power Electronics
Powertrain
Battery Electric Vehicle (BEV)
Fuel Cell Electric Vehicle (FCEV)
Hybrid Electric Vehicle (HEV)
Plug-in Hybrid Electric Vehicle (PHEV)
Power Rating
High Power (>250 kW)
Low Power (
Medium Power (100 kW - 250 kW)
Vehicle Type
Commercial Vehicles
Passenger Vehicles
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

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