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Electric Powertrain Market By Component (Inverter/Converter, Battery, BMS, Controller, PDM, Motor/Generator, On-Board Charger), By Type (Series Hybrid, MHEV, BEV, Parallel & Series-Parallel Hybrid), By Vehicle (MHEV, FCEV, PHEV, BEV), and By Region; Global Insights & Forecast (2024 – 2030)

Published: December, 2024  
|   Report ID: AT4565  
|   Automotive and Transportation

As per Intent Market Research, the Electric Powertrain Market was valued at USD 89.4 billion and will surpass USD 211.9 billion by 2030; growing at a CAGR of 13.1% during 2024 - 2030.

The electric powertrain market is pivotal to the transition toward sustainable and zero-emission transportation. Comprising key components such as batteries, motors, and controllers, electric powertrains power a variety of vehicles, including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell electric vehicles (FCEVs). The market is driven by advancements in electric vehicle (EV) technology, stringent emission regulations, and increasing consumer demand for eco-friendly mobility solutions.

Battery Segment Dominates Components Owing to Its Central Role in Energy Storage

Within the components segment, batteries represent the largest and most critical subsegment. Serving as the energy storage backbone for electric powertrains, batteries directly impact vehicle range, performance, and efficiency. The adoption of lithium-ion batteries dominates this space due to their high energy density, longer lifecycle, and declining production costs.

Technological breakthroughs, such as solid-state batteries and advancements in battery chemistries like lithium-iron-phosphate (LFP), are further enhancing performance and safety. Leading manufacturers are investing heavily in battery production facilities to meet surging demand, with notable expansions in Asia-Pacific and Europe. As EV adoption accelerates, the battery subsegment remains indispensable to the market's growth.

Electric Powertrain Market Size

BEV Segment Leads in Type Owing to Zero-Emission Operation and Policy Support

Battery electric vehicles (BEVs) emerge as the largest type in the electric powertrain market, thanks to their zero-emission capability and favorable government policies promoting clean transportation. BEVs operate solely on electric power, eliminating the need for internal combustion engines, and are increasingly popular among environmentally conscious consumers.

Regulatory incentives such as tax credits, subsidies, and the establishment of low-emission zones have bolstered BEV adoption worldwide. Technological advancements in charging infrastructure and battery technology have also alleviated concerns about range anxiety and charging times, further boosting their appeal. As automakers ramp up their production of BEVs, this segment is expected to dominate the electric powertrain market in the coming years.

BEVs Dominate Vehicle Segment Owing to Wide Consumer Adoption

In the vehicle segment, BEVs are again the largest subsegment, reflecting their rapid adoption across both passenger and commercial vehicle categories. Leading automakers are introducing diverse BEV models to cater to various price points and consumer preferences. The increasing availability of affordable compact BEVs and high-performance luxury models underscores the versatility of this vehicle category.

The shift toward BEVs is further supported by robust investments in global charging networks and the growing popularity of home charging solutions. Regions such as Europe and North America are witnessing significant BEV adoption due to stringent emission regulations and consumer incentives. This trend solidifies the dominance of BEVs in the vehicle segment.

Asia-Pacific Emerges as the Fastest Growing Region Due to EV Manufacturing Leadership

Asia-Pacific is the fastest-growing region in the electric powertrain market, driven by its leadership in EV manufacturing and battery production. China dominates the regional landscape with aggressive investments in EV infrastructure, government subsidies, and the presence of major EV and battery manufacturers.

Other countries, such as Japan and South Korea, contribute significantly with their expertise in innovative electric powertrain technologies. The region's strong supply chain capabilities and growing demand for EVs position it as a critical hub for global market expansion. As policies supporting EV adoption strengthen, Asia-Pacific will continue to lead the charge in electric mobility.

Electric Powertrain Market Size

Competitive Landscape and Leading Companies

The electric powertrain market is highly dynamic, with competition among established automakers, technology providers, and startups. Key players like Tesla, BYD, Bosch, Continental, and Nidec Corporation are driving market innovation through advancements in powertrain efficiency and energy management systems.

Collaborations and joint ventures are common, with companies aiming to integrate advanced components and optimize manufacturing processes. The growing focus on localized production and recycling initiatives is further reshaping the competitive landscape, offering opportunities for both established firms and emerging players to thrive in this transformative market.

Recent Developments:

  • Robert Bosch announced the launch of its next-generation powertrain control units designed to improve the efficiency and performance of electric vehicles, particularly in the automotive sector.
  • Mitsubishi Electric unveiled a new line of electric powertrain components, including highly efficient inverters and electric motors, aimed at expanding their presence in the electric vehicle market.
  • Magna International has entered into a strategic partnership with a leading EV manufacturer to supply electric powertrain systems, focusing on scalability and performance.
  • Continental AG received regulatory approval for its new range of high-performance electric vehicle motors, designed to optimize energy use and enhance the driving experience.
  • Hitachi Astemo expanded its portfolio by acquiring a leading electric powertrain technology firm, bolstering its position in the electric vehicle market and enhancing its R&D capabilities for future innovations.

List of Leading Companies:

Report Scope:

Report Features

Description

Market Size (2023)

USD 89.4 billion

Forecasted Value (2030)

USD 211.9 billion

CAGR (2024 – 2030)

13.1%

Base Year for Estimation

2023

Historic Year

2022

Forecast Period

2024 – 2030

Report Coverage

Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments

Segments Covered

Electric Powertrain Market By Component (Inverter/Converter, Battery, BMS, Controller, PDM, Motor/Generator, On-Board Charger), By Type (Series Hybrid, MHEV, BEV, Parallel & Series-Parallel Hybrid), By Vehicle (MHEV, FCEV, PHEV, BEV)

Regional Analysis

North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)

Major Companies

Robert Bosch, Mitsubishi Electric, Magna International, Continental AG, Hitachi Astemo, Samsung SDI, LG, BYD Company Limited, Toshiba, Enersys

Customization Scope

Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements

1. Introduction

   1.1. Market Definition

   1.2. Scope of the Study

   1.3. Research Assumptions

   1.4. Study Limitations

2. Research Methodology

   2.1. Research Approach

      2.1.1. Top-Down Method

      2.1.2. Bottom-Up Method

      2.1.3. Factor Impact Analysis

  2.2. Insights & Data Collection Process

      2.2.1. Secondary Research

      2.2.2. Primary Research

   2.3. Data Mining Process

      2.3.1. Data Analysis

      2.3.2. Data Validation and Revalidation

      2.3.3. Data Triangulation

3. Executive Summary

   3.1. Major Markets & Segments

   3.2. Highest Growing Regions and Respective Countries

   3.3. Impact of Growth Drivers & Inhibitors

   3.4. Regulatory Overview by Country

4. Electric Powertrain Market, by Components (Market Size & Forecast: USD Million, 2022 – 2030)

   4.1. Inverter/Converter

   4.2. Battery

   4.3. BMS

   4.4. Controller

   4.5. PDM

   4.6. Motor/Generator

   4.7. On Board Charger

5. Electric Powertrain Market, by Type  (Market Size & Forecast: USD Million, 2022 – 2030)

   5.1. Series

   5.2. MHEV

   5.3. BEV

   5.4. Parallel & Series-Parallel Hybrid

6. Electric Powertrain Market, by Vehicle   (Market Size & Forecast: USD Million, 2022 – 2030)

   6.1. MHEV

   6.2. FCEV

   6.3. PHEV

   6.4. BEV

7. Regional Analysis (Market Size & Forecast: USD Million, 2022 – 2030)

   7.1. Regional Overview

   7.2. North America

      7.2.1. Regional Trends & Growth Drivers

      7.2.2. Barriers & Challenges

      7.2.3. Opportunities

      7.2.4. Factor Impact Analysis

      7.2.5. Technology Trends

      7.2.6. North America Electric Powertrain Market, by Components

      7.2.7. North America Electric Powertrain Market, by Type

      7.2.8. North America Electric Powertrain Market, by Vehicle 

      7.2.9. By Country

         7.2.9.1. US

               7.2.9.1.1. US Electric Powertrain Market, by Components

               7.2.9.1.2. US Electric Powertrain Market, by Type

               7.2.9.1.3. US Electric Powertrain Market, by Vehicle 

         7.2.9.2. Canada

         7.2.9.3. Mexico

    *Similar segmentation will be provided for each region and country

   7.3. Europe

   7.4. Asia-Pacific

   7.5. Latin America

   7.6. Middle East & Africa

8. Competitive Landscape

   8.1. Overview of the Key Players

   8.2. Competitive Ecosystem

      8.2.1. Level of Fragmentation

      8.2.2. Market Consolidation

      8.2.3. Product Innovation

   8.3. Company Share Analysis

   8.4. Company Benchmarking Matrix

      8.4.1. Strategic Overview

      8.4.2. Product Innovations

   8.5. Start-up Ecosystem

   8.6. Strategic Competitive Insights/ Customer Imperatives

   8.7. ESG Matrix/ Sustainability Matrix

   8.8. Manufacturing Network

      8.8.1. Locations

      8.8.2. Supply Chain and Logistics

      8.8.3. Product Flexibility/Customization

      8.8.4. Digital Transformation and Connectivity

      8.8.5. Environmental and Regulatory Compliance

   8.9. Technology Readiness Level Matrix

   8.10. Technology Maturity Curve

   8.11. Buying Criteria

9. Company Profiles

   9.1. Robert Bosch

      9.1.1. Company Overview

      9.1.2. Company Financials

      9.1.3. Product/Service Portfolio

      9.1.4. Recent Developments

      9.1.5. IMR Analysis

    *Similar information will be provided for other companies 

   9.2. Mitsubishi Electric

   9.3. Magna International

   9.4. Continental AG

   9.5. Hitachi Astemo

   9.6. Samsung SDI

   9.7. LG

   9.8. BYD Company Limited

   9.9. Toshiba

   9.10. Enersys

10. Appendix

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A comprehensive market research approach was employed to gather and analyze data on the Electric Powertrain Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Electric Powertrain Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.

Research Approach - Electric Powertrain MarketSecondary Research

Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.

Primary Research

Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the Electric Powertrain ecosystem. The primary research objectives included:

  • Validating findings and assumptions derived from secondary research
  • Gathering qualitative and quantitative data on market trends, drivers, and challenges
  • Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
  • Assessing the supply-side landscape, including technological advancements and recent developments

Market Size Assessment

A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Electric Powertrain Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:

  1. Identification of key industry players and relevant revenues through extensive secondary research
  2. Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
  3. Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources

Bottom Up and Top Down - Electric Powertrain MarketData Triangulation

To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.

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