Electric Powertrain Market Synopsis

Electric Powertrain Market Size Was Valued at USD 95.1 Billion in 2023, and is Projected to Reach USD 339.9 Billion by 2032, Growing at a CAGR of 15.1% From 2024-2032.

An electric powertrain is a system that lies at the heart of any electric vehicle and it is tasked with the role of transforming electrical energy supplied by the vehicle’s battery to mechanical energy in order to propel the vehicle. It can consist of the electric motor that drives the vehicle, a power electronic system that controls it and at times, a transmission. The electrical motor is the major power used in the conversion of electrical energy to rotatory movement or power. Some of the most notable include using power electronics in the control of speed, torque, and the efficiency of the motor by managing the flow of electrical energy from the battery. Such elaborate configuration allows for the electric vehicles to provide impulse power, operate at low noise levels, and do not emit exhaust gases as they promote a sustainable shift in the transport system.

• It is also important to mention that the electric powertrain market is also growing significantly due to the growing global market for EVs. Due to its efforts in cutting the level of carbon emissions and the use of fossil fuels, government has aligned policies and incentives dedicated to boosting EV use. This has created a demand and therefore increase in research and development investment on electric powertrain parts including motors, batteries and power electronics. Further, technology advances that occur with battery costs accompanied by improvements in charging systems are also providing a tailwind to the electric powertrain market. The EC says that increased electrification of vehicles through the introduction of new electric models and consumer inclination towards cleaner and quieter, efficient transport should see the electric powertrain market grow in the coming years.
• But,’ questions like range issue, the space of charging stations and the sustainability of battery production and recycling are still issues yet to be tackled. In order to overcome these barriers, a combined effort involving key players in the automotive industry together with governments as well as stakeholders is needed to boost the set up of electric vehicles and thus stabilize the electric powertrain market. Nevertheless, the scope of potential application of electric powertrains in the market is still promising, this is evidenced by indicators that will reach considerable levels as electric vehicles continue to transform into commonplace and essentials for future mobility.

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Electric Powertrain Market Trend Analysis

Increasing focus on solid-state batteries

• Several key benefits of these batteries in comparison with the standard lithium-ion batteries, are such as increased energy density, shorter charging time, better protected, and longer lifetime. Thus, significant market players and battery makers, and new entrants are enthusiastically involved and investing in the research and advancement of solid-state battery technologies. This trend is in line with the general trend of improvement on the performance and the sustainability of the electric vehicles which is facilitated by the solid state batteries given their ability to overcome some major drawbacks like range anxiety and degradation of the battery. Thus, as the continual advances in research and development take place in the future, solid-state batteries should assume the defining roles in the evolution of various electric powertrains, and the overall future of the electric vehicles marketplace.

Expansion of electric vehicles (EVs) beyond passenger cars into other transportation sectors

• Owing to rising states’ awareness of environmental issues and raising the requirements concerning the environmental impact, emissions, and sustainability of specifics, there is a constantly increasing interest in effective and efficient transportation solutions across all fields. This is a brilliant chance for electric powertrain producers, alongside specialists who design electric vehicles, to expand their portfolios and create new types of electric powertrains for these new markets.
• For instance, the shift which has already begun by electrifying commercial fleets has plenty of possible reductions in emissions as well as operating expenses; chief among them being products situated within urban environments where air pollution is critical. In the same manner, electric bus and truck operation, at large, has the potential to revolutionize public transportation and freight transportation by being environmentally sustainable vehicles and fostering climate change mitigation. Furthermore, the so-called electric air taxi projects are now being marketed as a path to greener and less noisy flying, given that powertrains are set to become electric, thus paving the way toward cleaner forms of aviation solutions.

Electric Powertrain Market Segment Analysis:

Electric Powertrain Market is segmented on the basis of Electric Vehicle and Component.

By Vehicle, BEV segment is expected to dominate the market during the forecast period

• Regarding the type of electric powertrains, it is expected that the Battery Electric Vehicle (BEV) type will dominate the market throughout the expected timeframe. The above projection is informed by such factors as,; The following are some of the forces that are driving this projection; However, this projection can also be explained by Environmental consciousness of customers has risen; New standards of emission control have emerged; Improvements in the technology of the battery. BEVs have the enclosed electric power system, which means they do not use the internal combustion engines and fossil fuels conventional vehicle does. This inherent characteristic nicely fits with the spiriting global trend of achieving greenhouse gas emission reductions which in turn limits climate change.
• However, the growing array of batteries in BEVs has led to longer driving range and charging solutions of the vehicles, which was of great concern in the past. Hence, it becomes possible for consumers to be attracted to BEVs through a shift towards the adoption of cleaner and cheaper sources of energy as well as lower fuel and service costs. This electric powertrain the BEV segment is expected to dominate the market for electric powertrain as car makers continue to invest in the production of BEVs and governments continues to offer subsidies for the use of clean energy vehicles to reduce emissions on the road.

By Component, Motor/Generator segment expected to held the largest share

• Among the various segments of the electric powertrain, motor/generator is projected to emerge as the biggest segment and account for the largest share by way of components. This is because motors and generators are considered as the main propulsion force in EVs and thus receive much attention. Electric motors are the key component of the electric-powered drive train, employing the energy from the battery to deliver rotary power for the vehicle’s movement.
• The same is true for generators where it helps in regenerative braking using which the kinetic energy released during the braking process is used and turned back into electrical energy to charge the battery. Using electric motors & generators hereby presented trends in the development of electric vehicles, this there is a demand for compact, light, energy-efficient motors and generators. This trend is further bolstered by the progress made in motor technology whereby the dc motors are evolving in terms of the material used in the manufacturing process of electric vehicles, the designs used in electric vehicles, and the control systems that make electric vehicles efficient in terms of power output and range. Therefore, the motor/generator segment is expected to continue to dominate the electric powertrain market moving into the future as development brings about advancements in the system.

Electric Powertrain Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

• Remark: The Asia Pacific has been identified to supersede all other regions as the leading electric powertrain market in the period under review. In Asia, several advanced nations like China, Japan, and South Korea have already stepped into the EV market actively, and many automobile industries, technology development, and government intent on supporting the generation are also in existence in the region. In particular, China takes the lead among other countries and becomes the largest global market for EVs because of its climate change mitigation goals and the desire to move away from the use of fossil fuels. The government and local authorities in China allow subsidies for EV consumers and applied severe restrictions to IAMEV vehicles that intensified the adoption of new powertrains.
• In addition, Japan and South Korea are both famous automobile manufacturing countries that occupy 60% of the technological level of automobile production and have extensive research on electric power train technology to catch up with the world’s advanced level. Another factor that has played a role is the large population together with the increasing rates of urbanization and hence middle income earning people who are always seeking new better methods of transport like the electric vehicles and hence the need for the electric power trains. Electric powertrain markets have not yet reached their full potential and it is emerging that Asia Pacific region still has the ability and expansive infrastructure for more electric charging stations to be developed in the coming years as battery technology continues to be enhanced.

Active Key Players in the Electric Powertrain Market

• BorgWarner (United States)
• Bosch Limited (Germany)
• Mitsubishi Electric Corp (Japan)
• Magna International Inc. (Canada)
• Schaeffler AG (Germany)
• ZF Friedrichshafen AG (Germany)
• Valeo (France)
• Nidec Corporation (Japan)
• Continental AG (Germany)
• Magneti Marelli Ck Holdings (Italy)
• Other key Players

Key Industry Developments in the Electric Powertrain Market

• In April 2023, Denso Corporation (Denso) introduced its inaugural inverter featuring silicon carbide (SiC) power semiconductors. This inverter is slated for integration into the eAxle developed by BlueE Nexus Corporation, which will be installed in the Lexus RZ.
• In February 2023, Continental AG launched a new electric motor rotor position sensor (eRPS) designed for electric vehicles. The eRPS utilizes inductive technology to accurately detect the position of synchronous electric machine rotors, leading to enhanced efficiency and smoother operational performance.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. ELECTRIC POWERTRAIN MARKET BY VEHICLE (2017-2032)
   1. ELECTRIC POWERTRAIN MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. BEV
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. HEV/PHEV
7. ELECTRIC POWERTRAIN MARKET BY COMPONENT (2017-2032)
   1. ELECTRIC POWERTRAIN MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. MOTOR/GENERATOR
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. BATTERY
   5. POWER ELECTRONICS CONTROLLER
   6. CONVERTER
   7. TRANSMISSION
   8. ON-BOARD CHARGER
8. COMPANY PROFILES AND COMPETITIVE ANALYSIS
   1. COMPETITIVE LANDSCAPE
      1. Competitive Positioning
      2. Electric Powertrain Market Share By Manufacturer (2023)
      3. Industry BCG Matrix
      4. Heat Map Analysis
      5. Mergers & Acquisitions
   2. BORGWARNER (UNITED STATES)
      1. Company Overview
      2. Key Executives
      3. Company Snapshot
      4. Role of the Company in the Market
      5. Sustainability and Social Responsibility
      6. Operating Business Segments
      7. Product Portfolio
      8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
      9. Key Strategic Moves And Recent Developments
      10. SWOT Analysis
   3. BOSCH LIMITED (GERMANY)
   4. MITSUBISHI ELECTRIC CORP (JAPAN)
   5. MAGNA INTERNATIONAL INC. (CANADA)
   6. SCHAEFFLER AG (GERMANY)
   7. ZF FRIEDRICHSHAFEN AG (GERMANY)
   8. VALEO (FRANCE)
   9. NIDEC CORPORATION (JAPAN)
   10. CONTINENTAL AG (GERMANY)
   11. MAGNETI MARELLI CK HOLDINGS (ITALY)
9. GLOBAL ELECTRIC POWERTRAIN MARKET BY REGION
   1. OVERVIEW
   2. NORTH AMERICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Vehicle
      4. Historic And Forecasted Market Size By Component
      5. Historic And Forecasted Market Size By Country
         1. USA
         2. Canada
         3. Mexico
   3. EASTERN EUROPE
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
         1. Russia
         2. Bulgaria
         3. The Czech Republic
         4. Hungary
         5. Poland
         6. Romania
         7. Rest Of Eastern Europe
   4. WESTERN EUROPE
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
         1. Germany
         2. United Kingdom
         3. France
         4. The Netherlands
         5. Italy
         6. Spain
         7. Rest Of Western Europe
   5. ASIA PACIFIC
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Malaysia
         6. Thailand
         7. Vietnam
         8. The Philippines
         9. Australia
         10. New-Zealand
         11. Rest Of APAC
   6. MIDDLE EAST & AFRICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
         1. Turkey
         2. Bahrain
         3. Kuwait
         4. Saudi Arabia
         5. Qatar
         6. UAE
         7. Israel
         8. South Africa
   7. SOUTH AMERICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
         1. Brazil
         2. Argentina
         3. Rest of South America
10. INVESTMENT ANALYSIS
11. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies