Disclaimer: This is a user generated content submitted by a member of the WriteUpCafe Community. The views and writings here reflect that of the author and not of WriteUpCafe. If you have any complaints regarding this post kindly report it to us.

Market Overview:

The global EV powertrain market accounted for US$ 30,095.5 Mn in 2018 and is expected to grow at a CAGR of 12.0% over the forecast period 2019–2027, to account for US$ 82,382.3 Mn by 2027. The global automotive industry is expanding rapidly across the globe with the rise in the procurement of vehicles across classes. The industry in the US, China, and European countries remained strong over the past five years and is likely to continue to grow exponentially. The EV powertrain manufacturers across the globe are investing significant amounts in the development of robust powertrains to support the rising production of electric passenger cars as well as commercial vehicles.

Get Sample PDF: https://www.theinsightpartners.com/sample/TIPRE00002938/

The powertrain developers are also focusing on reducing powertrain prices. For instance, the electric passenger vehicles manufacture incurred an approximate cost of US$ 15,000 to procure powertrain in 2017, and the same is expected to cost around US$ 11,000 by 2025. According to ICCT, the reduction in powertrain price would enable the OEMs to increase their production volumes, which would further facilitate in a higher number of EV sales. Thus, a reduction in powertrain prices is catalysing the growth of the EV powertrain market.

Key players in the automotive market are focusing on investing in the production of electric vehicles. There have been prominent collaborations in recent years between automakers and tech companies to develop technologically advanced electric vehicles. For instance, in December 2019, Fiat Chrysler planned a merger with French automaker PSA Group to focus on the development of electric vehicles. As the market is moving toward EV adaptation, due to changing business strategy in order to innovate, the ICE vehicle manufacturers are shifting their focus towards EVs. Further, with increasing awareness about the rising levels of greenhouse gas emission and negative impacts of the conventional vehicles in the form of increasing population are the major factors propelling key players to invest in electric vehicles. Various major companies are looking forward to invest in startups, which can eventually help them co-create products in future. For instance, In March 2019, Hyundai with its subsidiary Kia invested US$ 300 million in Ola Electric to manufacture cars and mobility solutions specifically for Indian population.

The EV powertrain market has been derived from market trends and revenue generation factors from four different regions across the globe namely; North America, Europe, Asia Pacific, ROW. The APAC region holds the highest market share and is also projected to be the fastest-growing region as well in the coming years. The APAC automotive sector has been quick to adopt new technologies and trends which is expected to drive the growth of EV powertrain in the region. The rapidly growing economies have translated into rising per-capita incomes and consumer expenditures. As a result of this, the APAC region witnessed very high growth in the sales of automobiles in recent times. The higher number of automobiles on the road demand for higher production and thus present large potentials for EV powertrain providers to expand their business base in APAC. China, Japan, and South Korea are some of the largest manufacturer of automotive vehicles around the globe. In addition, Japan is a well-developed economy and is one of the most automated economies around the world.

The EV powertrain market by product type is segmented into series hybrid powertrain, battery electric vehicle powertrain, series-parallel hybrid powertrain, mild hybrid powertrain, and parallel hybrid powertrain. The battery electric vehicle powertrain holds the major share in the market, and is expected to be the fastest-growing segment during the forecast period. The battery electric vehicle powertrain is the most popular electric powertrain in the current EV powertrain industry scenario. The factors positively impacted towards gaining the popularity include positive change in perception of consumers regarding pollution created by vehicles; technological advancements, and stringent regulations to adhere to the proposed emission norms. By application, the EV powertrain market is segmented in to passenger cars and commercial vehicles. The passenger cars held the major market share in 2018, passenger cars segment undergo substantial technological advancements year on year, owing to the changes in consumer interests, emergence of new technologies, and governmental rules and regulation related to reduction in emission and other factors.

The major players operating in the market for EV powertrain market are Continental AG, Robert Bosch GmbH, Cummins, Inc., Maxim Integrated Products, Inc., Magna International Inc., Tata Elxsi, Dana Limited, Valeo SA, Mahle GmbH, and ZF Friedrichshafen AG.

Buy Now: https://www.theinsightpartners.com/buy/TIPRE00002938/

EV Powertrain Market — Geographic Breakdown, 2018

The report segments the global EV powertrain market as follows:

  • Global EV Powertrain Market – By Product Type
  • Series Hybrid Powertrain
  • Battery Electric Vehicle Powertrain
  • Series-Parallel Hybrid Powertrain
  • Mild Hybrid Powertrain
  • Parallel Hybrid Powertrain

 

  • Global EV Powertrain Market – By Application
  • Passenger Cars
  • Commercial Vehicles

 

  • Global EV Powertrain Market – By Geography
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • UK
    • Sweden
    • Netherlands
    • Slovakia
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
  • Rest of the World (ROW)

 

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi

E-mail: sales@theinsightpartners.com

Phone: +1-646-491-9876

0

Login

Welcome to WriteUpCafe Community

Join our community to engage with fellow bloggers and increase the visibility of your blog.
Join WriteUpCafe