Automotive Electric Drivetrain Components Market Size - By Components (Electric Drive Module, DC/DC Converter, Battery Packs, Thermal System, DC/AC Inverter, Power Distribution Module), Sales Channel (OEM, Aftermarket), Vehicle & Global Forecast, 2023 - 2

Automotive Electric Drivetrain Components Market Size - By Components (Electric Drive Module, DC/DC Converter, Battery Packs, Thermal System, DC/AC Inverter, Power Distribution Module), Sales Channel (OEM, Aftermarket), Vehicle & Global Forecast, 2023 - 2032

Automotive electric drivetrain components market is expected to record 23.7% CAGR from 2023 to 2032 owing to the increasing environmental awareness, stringent emissions regulations, and advancements in battery technology. There is also growing preference among the consumers for electric vehicles (EVs).



As per the IEA, electric car sales exceeded 10 million in 2022 and the total electric cars sales have tripled in last three years from 4% in 2020 to 14% in 2022. As governments worldwide continue to incentivize the adoption of electric vehicles, the industry is poised for robust growth in the coming years.

The automotive electric drivetrain components market is classified based on components, sales channel, vehicle, and region.

The DC/AC inverter segment is predicted to witness substantial growth through 2032. These components convert direct current (DC) from the vehicle's battery into alternating current (AC) for the electric motor. With ongoing advancements in power electronics and efficiency improvements in inverters, this segment is witnessing increased demand. The focus on enhancing the performance and efficiency of electric drivetrains is driving innovation in the DC/AC inverter components.

The Hybrid Electric Vehicle (HEV) vehicle segment will generate massive revenue in the market by 2032, as automakers seek to offer a transitional solution that combines internal combustion engines with electric power. HEVs provide a practical and efficient option for consumers who may not be ready for full electrification. The HEV segment is characterized by a blend of electric and traditional drivetrain components, creating a bridge towards a more sustainable automotive future.

Asia Pacific automotive electric drivetrain components market size is anticipated to expand through 2032, driven by factors such as increasing urbanization, a rising middle class, and governmental support for electric mobility initiatives. Countries like China, Japan, and South Korea are at the forefront of this transition, with a strong focus on electric vehicle production and infrastructure development. The Asia Pacific region is poised to be a major contributor to the global automotive electric drivetrain components market growth in the foreseeable future.