PUBLISHER: The Business Research Company | PRODUCT CODE: 1669405
PUBLISHER: The Business Research Company | PRODUCT CODE: 1669405
Automotive electric drivetrain components encompass crucial elements that enable the conversion and delivery of electrical power to propel a vehicle's wheels. These components serve as the control center for the electric motor, playing a pivotal role in defining the driving characteristics of electric vehicles.
The primary categories of automotive electric drivetrain components include the electric drive module, DC or DC converter, battery packs, thermal system, DC or AC inverter, power distribution module (PDM), among others. An electric drive module, also termed an electric powertrain module, consolidates the electric motor, transmission, and power electronics into a single unit, significantly reducing overall system weight. These components cater to diverse vehicle types such as battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell electric vehicles (FCEVs), and are supplied through original equipment manufacturers (OEMs) and the aftermarket.
The automotive electric drivetrain components market research report is one of a series of new reports from The Business Research Company that provides automotive electric drivetrain components market statistics, including automotive electric drivetrain components industry global market size, regional shares, competitors with an automotive electric drivetrain components market share, detailed automotive electric drivetrain components market segments, market trends and opportunities, and any further data you may need to thrive in the automotive electric drivetrain components industry. This automotive electric drivetrain components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive electric drivetrain components market size has grown exponentially in recent years. It will grow from $63.66 billion in 2024 to $79.63 billion in 2025 at a compound annual growth rate (CAGR) of 25.1%. The growth in the historic period can be attributed to government regulations on emissions, consumer demand for sustainable vehicles, reduction in battery costs, improvements in power electronics, and investments in charging infrastructure
The automotive electric drivetrain components market size is expected to see exponential growth in the next few years. It will grow to $185.53 billion in 2029 at a compound annual growth rate (CAGR) of 23.5%. The growth in the forecast period can be attributed to rapid technological advancements, regulatory push for zero-emission vehicles, evolution in battery chemistries, automotive industry focus on electrification, and shift towards e-mobility solutions. Major trends in the forecast period include enhanced energy density in batteries, integrated vehicle-to-grid (v2g) technology, adaptive thermal management solutions, personalized user experience and connectivity, and enhanced vehicle-to-vehicle (v2v) communication.
The rising adoption of electric vehicles is anticipated to drive the growth of the automotive electric drivetrain components market in the coming years. An electric vehicle refers to any fully electric, zero-emission vehicle with an onboard energy storage system that can be recharged via an external power source. In electric vehicles, the drivetrain components convert electrical energy into mechanical energy to power the vehicle's wheels. For example, in November 2023, the U.S. Energy Information Administration, a government agency, reported that battery-electric vehicles (BEVs) accounted for 17.7% of new light-duty vehicle sales in the third quarter of 2023, with BEVs comprising 16.0% of total new vehicle sales so far this year, compared to 12.5% in 2022 and 9.0% in 2021. Therefore, the growing adoption of battery-electric vehicles is fueling the expansion of the automotive electric drivetrain components market.
A influential factor driving the market is the increasing focus on renewable energy. Renewable energy, derived from natural resources renewed on a human timeline, has gained prominence due to the imperative to reduce carbon emissions and address concerns about global warming. The heightened emphasis on clean and renewable energy sources, including electric vehicles, contributes to the growing demand for automotive electric drivetrain components. In March 2023, the International Renewable Energy Agency reported a 10% increase in global renewable energy capacity in 2022, representing a 0.4% uptick from the previous year. This upward trend in renewable energy aligns with the broader objective of reducing environmental impact, further boosting the automotive electric drivetrain component market.
Product innovation stands out as a significant and popular trend in the automotive electric drivetrain components market. Major companies in this sector are actively engaged in developing innovative products to maintain their competitive positions. A notable example is Volkswagen, a Germany-based vehicle manufacturing company, which, in April 2023, launched the improved electric vehicle drivetrain APP550. The new APP550 rear-wheel drive units not only offer high performance but also contribute to improved vehicle efficiency. The enhancement includes an improved heat management system, further increasing overall efficiency. Notably, the device has the capability to control its temperature by utilizing the transmission's gear wheels, showcasing a commitment to innovation and performance in the automotive electric drivetrain components market.
Major companies in the automotive electric drivetrain components market are adopting a strategic partnership approach to expedite electric vehicle (EV) powertrain design through virtual prototyping. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits and success. A case in point is the partnership announced in December 2023 between Hexagon AB, a Sweden-based technological company specializing in EV powertrains, and JSOL Corporation, a Japan-based information technology service company. This partnership aims to expedite the virtual prototyping of electric powertrains using multi-physics simulation. Building on a longstanding technological collaboration, the partnership combines Hexagon's robust engineering simulation software suite with JSOL Corporation's JMAG electromagnetic field analysis software. This collaboration enables clients to address a wide range of system design challenges in the virtual world more swiftly, thoroughly, and economically than physical prototyping allows, emphasizing the strategic role of partnerships in advancing technology and design in the automotive electric drivetrain components market.
In May 2024, Genuine Parts Company (GPC), a Germany-based provider of automotive components, acquired Motor Parts & Equipment Corporation (MPEC) for an undisclosed sum. This acquisition is intended to strengthen Genuine Parts Company's market presence and enhance its product range in the automotive components sector by leveraging Motor Parts & Equipment Corporation's distribution network and expertise. The integration aims to improve operational efficiencies and better serve GPC's customer base. Motor Parts & Equipment Corporation (MPEC) is a Philippines-based manufacturer of automotive components.
Major companies operating in the automotive electric drivetrain components market include Volkswagen AG, Robert Bosch GmbH, Siemens AG, Panasonic Corporation, ZF Friedrichshafen AG, Denso Corporation, Continental AG, Hyundai Mobis, Magna International Inc., Aisin Seiki Co. Ltd, Valeo SA, Eaton Corporation PLC, Hitachi Astemo Ltd., Parker Hannifin Corporation, Schaeffler AG, Nidec Corporation, BorgWarner Inc., MAHLE GmbH, Infineon Technologies AG, Marelli Holdings Co. Ltd., Dana Incorporated, Hexagon AB, GKN Automotive Limited, JATCO Ltd., Delphi Technologies, The Johnson Electric Group, AVL List Gmbh, Univance Corporation, Hofer Powertrain GmbH
Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive electric drivetrain components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the automotive electric drivetrain components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The automotive electric drivetrain components market consists of sales of traction battery packs, electric motors, power inverters, charge ports, onboard chargers, and Controllers. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Electric Drivetrain Components Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive electric drivetrain components market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive electric drivetrain components ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive electric drivetrain components market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.