Global Electric Powertrain Market Size Study, by Component, Type, Vehicle, and Regional Forecasts 2022-2032

Description

The Global Electric Powertrain Market, valued at approximately USD 8.91 billion in 2023, is anticipated to expand at a remarkable CAGR of 13.20% over the forecast period 2024-2032. The market's growth is being propelled by the surging adoption of electric vehicles (EVs), spurred by global decarbonization goals and an escalating emphasis on reducing vehicular emissions. Electric powertrains are the linchpins of EVs, offering efficiency, sustainability, and adaptability to diverse vehicle architectures. This transition to electrification is being fueled by robust advancements in core components such as motors, battery management systems (BMS), and inverters, which are enabling enhanced performance and reliability.

As governments worldwide introduce stringent emission norms and incentivize EV adoption, the electric powertrain market is experiencing exponential growth. The proliferation of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) underscores the demand for innovative powertrain technologies that can deliver superior energy efficiency. Additionally, the integration of smart controllers and advanced inverters/converters is optimizing the energy flow within these systems, thereby enhancing vehicle performance. However, high initial costs and the complexities involved in developing powertrain solutions for varying vehicle types may pose challenges to the market's full-scale expansion.

The dynamic interplay of innovation and regulation is unlocking new possibilities for the electric powertrain market. Investments in next-generation battery technologies, such as solid-state and ultra-fast charging systems, are paving the way for enhanced energy density and reduced charging times. Moreover, the advent of advanced hybrid systems like series-parallel configurations is catering to consumer preferences for versatile and fuel-efficient vehicles. These developments, coupled with the growing deployment of fuel-cell electric vehicles (FCEVs), are transforming the landscape of automotive propulsion systems.

Geographically, North America accounted for the largest market share in 2023, supported by significant investments in EV infrastructure and favorable government policies. The region's commitment to achieving net-zero emissions and the presence of major automotive OEMs are further accelerating the adoption of electric powertrains. Meanwhile, the Asia Pacific region is projected to exhibit the fastest growth during the forecast period, driven by the burgeoning EV market in China, India, and Japan. Europe also remains a key player, underpinned by ambitious decarbonization targets and ongoing developments in automotive electrification.

Major market players included in this report are:

Tesla, Inc.
General Motors
Robert Bosch GmbH
Continental AG
ZF Friedrichshafen AG
Mitsubishi Electric Corporation
BYD Company Limited
Nidec Corporation
Siemens AG
BorgWarner Inc.
Dana Incorporated
Valeo
Mahle GmbH
Hitachi Astemo, Ltd.
Hyundai Mobis

The detailed segments and sub-segment of the market are explained below:

By Component:

Motor
Generator
Battery
Battery Management System (BMS)
Controller
Power Distribution Module (PDM)
Inverter/Converter
Onboard Charger

By Type:

Battery Electric Vehicle (BEV)
Mild Hybrid Electric Vehicle (MHEV)
Series Hybrid
Parallel Hybrid
Series-Parallel Hybrid

By Vehicle:

Battery Electric Vehicle (BEV)
Fuel Cell Electric Vehicle (FCEV)
Plug-in Hybrid Electric Vehicle (PHEV)
Mild Hybrid Electric Vehicle (MHEV)

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical Year: 2022
Base Year: 2023
Forecast Period: 2024-2032

Key Takeaways:

Market estimates and forecasts spanning a decade from 2022 to 2032.
Regional and country-specific analyses for each market segment.
Competitive landscape profiling major players and their strategic initiatives.
Insights into evolving trends and future market opportunities.
Detailed segmentation analysis for a comprehensive understanding of the market dynamics.

Chapter 1. Global Electric Powertrain Market Executive Summary

1.1. Global Electric Powertrain Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Component
- 1.3.2. By Type
- 1.3.3. By Vehicle
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Electric Powertrain Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Electric Powertrain Market Dynamics

3.1. Market Drivers
- 3.1.1. Surging Adoption of Electric Vehicles (EVs)
- 3.1.2. Government Incentives and Stringent Emission Norms
- 3.1.3. Advancements in Core Components (Motors, BMS, Inverters)
3.2. Market Challenges
- 3.2.1. High Initial Costs of Electric Powertrains
- 3.2.2. Complexities in Developing Solutions for Diverse Vehicle Types
3.3. Market Opportunities
- 3.3.1. Investments in Next-Generation Battery Technologies
- 3.3.2. Advent of Advanced Hybrid Systems
- 3.3.3. Growing Deployment of Fuel-Cell Electric Vehicles (FCEVs)

Chapter 4. Global Electric Powertrain Market Industry Analysis

4.1. Porter's Five Forces Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's Five Forces Model
- 4.1.7. Porter's Five Forces Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Electric Powertrain Market Size & Forecasts by Component 2022-2032

5.1. Segment Dashboard
5.2. Global Electric Powertrain Market: Component Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Motor
- 5.2.2. Generator
- 5.2.3. Battery
- 5.2.4. Battery Management System (BMS)
- 5.2.5. Controller
- 5.2.6. Power Distribution Module (PDM)
- 5.2.7. Inverter/Converter
- 5.2.8. Onboard Charger

Chapter 6. Global Electric Powertrain Market Size & Forecasts by Type 2022-2032

6.1. Segment Dashboard
6.2. Global Electric Powertrain Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Battery Electric Vehicle (BEV)
- 6.2.2. Mild Hybrid Electric Vehicle (MHEV)
- 6.2.3. Series Hybrid
- 6.2.4. Parallel Hybrid
- 6.2.5. Series-Parallel Hybrid

Chapter 7. Global Electric Powertrain Market Size & Forecasts by Vehicle 2022-2032

7.1. Segment Dashboard
7.2. Global Electric Powertrain Market: Vehicle Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Battery Electric Vehicle (BEV)
- 7.2.2. Fuel Cell Electric Vehicle (FCEV)
- 7.2.3. Plug-in Hybrid Electric Vehicle (PHEV)
- 7.2.4. Mild Hybrid Electric Vehicle (MHEV)

Chapter 8. Global Electric Powertrain Market Size & Forecasts by Region 2022-2032

8.1. North America Electric Powertrain Market
- 8.1.1. U.S. Electric Powertrain Market
  - 8.1.1.1. Component Breakdown Size & Forecasts, 2022-2032
  - 8.1.1.2. Type Breakdown Size & Forecasts, 2022-2032
  - 8.1.1.3. Vehicle Breakdown Size & Forecasts, 2022-2032
- 8.1.2. Canada Electric Powertrain Market
  - 8.1.2.1. Component Breakdown Size & Forecasts, 2022-2032
  - 8.1.2.2. Type Breakdown Size & Forecasts, 2022-2032
  - 8.1.2.3. Vehicle Breakdown Size & Forecasts, 2022-2032
8.2. Europe Electric Powertrain Market
- 8.2.1. UK Electric Powertrain Market
- 8.2.2. Germany Electric Powertrain Market
- 8.2.3. France Electric Powertrain Market
- 8.2.4. Spain Electric Powertrain Market
- 8.2.5. Italy Electric Powertrain Market
- 8.2.6. Rest of Europe Electric Powertrain Market
8.3. Asia-Pacific Electric Powertrain Market
- 8.3.1. China Electric Powertrain Market
- 8.3.2. India Electric Powertrain Market
- 8.3.3. Japan Electric Powertrain Market
- 8.3.4. Australia Electric Powertrain Market
- 8.3.5. South Korea Electric Powertrain Market
- 8.3.6. Rest of Asia-Pacific Electric Powertrain Market
8.4. Latin America Electric Powertrain Market
- 8.4.1. Brazil Electric Powertrain Market
- 8.4.2. Mexico Electric Powertrain Market
- 8.4.3. Rest of Latin America Electric Powertrain Market
8.5. Middle East & Africa Electric Powertrain Market
- 8.5.1. Saudi Arabia Electric Powertrain Market
- 8.5.2. South Africa Electric Powertrain Market
- 8.5.3. Rest of Middle East & Africa Electric Powertrain Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. Tesla, Inc.
- 9.1.2. General Motors
- 9.1.3. Robert Bosch GmbH
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Tesla, Inc.
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. General Motors
- 9.3.3. Robert Bosch GmbH
- 9.3.4. Continental AG
- 9.3.5. ZF Friedrichshafen AG
- 9.3.6. Mitsubishi Electric Corporation
- 9.3.7. BYD Company Limited
- 9.3.8. Nidec Corporation
- 9.3.9. Siemens AG
- 9.3.10. BorgWarner Inc.
- 9.3.11. Dana Incorporated
- 9.3.12. Valeo
- 9.3.13. Mahle GmbH
- 9.3.14. Hitachi Astemo, Ltd.
- 9.3.15. Hyundai Mobis

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes