An electric vehicle (EV) is powered by an alternate source of energy, not like fossil fuels such as petrol and diesel, it is powered by electricity.
Electric Powertrain Market size was valued at USD 71.86 billion in 2021 and is expected to grow at a CAGR of +33% from 2021 to 2027.
The electric vehicle powertrain includes electric motor, battery, and transmission that help to generate power which is used to move or drive the vehicle.
Electric vehicles powertrains integrated in the battery electric vehicles (BEV) that is an all-electric vehicle are 100% powered by the electric energy.
Powertrains used in the plug-in-hybrid electric vehicles (PHEVs) can be charged from electricity power supply board mounted on the wall whereas, powertrains integrated in hybrid-electric vehicles (HEVs) employ two or more types of fuels to supply power to these vehicles.
Bosch Limited, BorgWarner, Mitsubishi Electric Corp., Schaeffler AG, Magna International Inc., ZF Friedrichshafen AG, Nidec Corporation, Valeo, Continental AG, and Magneti Marelli Ck Holdings among others.
Increasing sales of electric vehicles owing to stringent government norms in various regions to curb the carbon footprint along with various environmental protection laws for automotive sector expected to drive the overall market growth of electric powertrain.
In the wake of same, governments of different regions also offer attractive incentives and policies to spur the adoption of electric and battery-powered vehicles in the region.
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By Electric Vehicle
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle/Plug-in Hybrid Electric Vehicle (HEV/PHEV)
• Power Electronics Controller
• On-board Charger
Geographically, the global EV Powertrain market has been fragmented across the world into different regions such as North America, Latin America, Asia-Pacific, Middle East and Africa based on productivity.
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• North America (The United States, Canada, and Mexico)
• Europe (Germany, France, UK, Russia, and Italy)
• Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
• South America (Brazil, Argentina, Colombia, etc.)
• The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Key benefits of the global market research report:
• It offers detailed analyses of the global EV Powertrain market condition
• It offers strategic planning methodologies
• Spotting emerging latest market trends
• Provides assistance to stay ahead in the global competition
• It offers an estimation of global market size and cost