Electric Powertrain Market Size, Share & Trends Analysis Report By Electric Vehicle (BEV, HEV/PHEV), By Component (Motor/Generator, Battery, Power Electronics Controller), By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the electric powertrain market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for electric powertrain market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of electric powertrain market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Electric Powertrain Market Categorization:

The electric powertrain market was categorized into three segments, namely electric vehicle (BEV, HEV/PHEV), component (Motor/Generator, Battery, Power Electronics Controller, Converter, Transmission, On-Board Charger), region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The electric powertrain market was segmented into electric vehicle, component, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The electric powertrain market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eight countries, namely, the U.S.; Canada; the UK; Germany; China; Japan; South Korea; India.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Electric powertrain market companies & financials:

The electric powertrain market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• BORGWARNER INC. - BorgWarner Inc. is a renowned manufacturer and distributor of combustion, electric, and hybrid technology solutions. Their cutting-edge products are designed to enhance vehicle performance, stability, propulsion efficiency, and air quality. These innovative solutions are developed specifically for original equipment manufacturers (OEMs) of various vehicles, including light passenger vehicles, commercial vehicles, off-highway vehicles, heavy-duty vehicles, and sport-utility vehicles. Additionally, BorgWarner Inc. collaborates with tier-1 vehicle systems vendors and aftermarket vendors for light, commercial, and off-highway vehicles. The company operates primarily through two segments, namely Engine and Drivetrain. The Engine segment encompasses a wide range of products, such as eBoosters, emission systems, gasoline ignition technology, timing systems, turbochargers, cabin heaters, and battery charging systems. On the other hand, the Drivetrain segment focuses on mechanical products, including torque management controls, automatic transmission controls, and friction products for All-Wheel Drive vehicles. This segment also offers electric motors, alternators, and starter motors specifically designed for electric and hybrid vehicles. BorgWarner Inc. has manufacturing facilities strategically located across the Americas, Europe, and Asia, ensuring efficient production and distribution of their high-quality products.

• CONTINENTAL AG - Continental AG is a renowned automotive manufacturing and technology organization dedicated to the development of intelligent transportation solutions for both people and goods. With a strong focus on innovation, the company produces and supplies automotive tires and braking systems, offering safe, sustainable, comfortable, and cost-effective solutions to its industrial partners worldwide. Continental AG operates through its five business divisions: Powertrain, Tire, Chassis & Safety, Interior, and ContiTech. In September 2019, the company rebranded its independent powertrain business as Vitesco Technologies, specializing in electric drives, 48-volt electrification solutions, and power electronics for battery-electric and hybrid vehicles. Continental AG aims to pioneer disruptive technologies by prioritizing extensive research and development, ensuring a competitive edge, and fostering growth in the automotive market. In 2020 alone, the company invested a substantial USD 4,127 million in research and development. Continental AG continues to impact the automotive industry significantly, with a vast global presence spanning North America, South America, Europe, Asia, Africa, and Australia.

• MAGNA INTERNATIONAL INC. - Magna International, Inc. is a prominent Canadian company specializing in mobility technology for automakers. With a strong presence in North America, the company manufactures various automotive parts, including modules, components, assemblies, and automotive systems. Their products, known as original equipment parts (OEM), are supplied to renowned companies like General Motors, Ford Motors Company, FCA, Mercedes, BMW, Volkswagen, Tesla Motors, and others. As of 2020, Magna International operates an impressive network of 346 manufacturing units and 94 product development centers across 27 countries. The company focuses on driving innovation, particularly in areas such as Powertrain Electrification, Battery Frame Technology, ADAS Features, Flexible Lighting, and SMARTACCESS. Additionally, Magna International possesses expertise in software and electronic capabilities, particularly in vehicle engineering applications. Their extensive knowledge spans various product domains, including chassis, body, exterior, powertrain, seating, active driver assistance, mechatronics, mirrors, lighting electronics, and roof systems.

• MARELLI HOLDINGS CO., LTD. - Marelli Holdings Co., Ltd. is a renowned automotive components and products developer and manufacturer. The company specializes in the creation and manufacturing of cutting-edge systems for the automotive industry. Its primary focus is automotive lighting, powertrains, electronic systems, exhaust systems, suspension systems, motorsports, and aftermarket parts and services. The company prides itself on delivering top-notch electric powertrains that are both high-quality and high-performance, catering to the needs of electric vehicles. Established in 2019, Marelli Holdings Co., Ltd. came into existence through a joint venture between Calsonic Kansei and Magneti Marelli. The company ensures its global presence and commitment to excellence with a vast network of over 170 production and R&D facilities spread across Asia, Europe, North America, Latin America, and Africa.

• MITSUBISHI ELECTRIC CORPORATION - Mitsubishi Electric Corporation primarily engages in the design, development, assembly, manufacturing, sales, procurement, and importation of electrical parts. The organization mainly offers air conditioning systems, factory automation systems, automotive equipment, building systems, energy systems, semiconductors & devices, visual information systems, space systems, and public systems. The company supplies electric powertrain equipment within its automotive equipment electrification product lineup. Mitsubishi Electric Corporation operates through its 95 subsidiaries in Japan and 108 subsidiaries outside Japan. The company has established a strong presence in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

• NIDEC CORPORATION - Nidec Corporation specializes in a wide range of motor applications, focusing on products that involve spinning and movement. The company operates in various business sectors, including automotive components, robotics, home appliances, logistics, agriculture, IOT-based products, haptic devices, electronic equipment and sensors, medical and healthcare products, commercial and professional products, industrial machinery, processing/inspection equipment, and optical mobile device components. Their product portfolio ranges from small precision items to large motors. As of 2020, the organization has nearly 296 subsidiaries in Japan and other countries worldwide. Since its establishment in 1984, the company has strategically pursued mergers and acquisitions (M&A) in the automotive industry. Notable examples include the acquisition of OMRON Automotive Electronics Co. Ltd. (Japan), Genmark Automation, Inc. (USA), Tokyo Maruzen Industry (Japan), and Jiangsu Kaiyu Auto Appliance (China) in 2019, 2018, 2017, and 2012, respectively.

• ROBERT BOSCH GMBH - Robert Bosch GmbH is an engineering and electronics company based in Germany. The group has a global presence of over 340 subsidiaries and regional companies in almost 50 countries. The company operates through four main business segments: Mobility Solutions, Energy & Building Technology, Industrial Technology, and Consumer Goods. Within the Mobility Solutions segment are various divisions, such as Automotive Aftermarket, Automotive Electronics, Automotive Steering, Car Multimedia, Chassis Systems Control, Diesel Systems, Electrical Drives, Gasoline Systems, and Starter Motors & Generators. Furthermore, the Mobility Solutions segment is divided into Personalized Mobility, Automated Mobility, Connected Mobility, and Powertrain and Electrified Mobility. The Powertrain and Electrified Mobility division provides components for passenger cars, light commercial vehicles, commercial vehicles, and off-highway vehicles. With a strong presence in regions including APAC, the MEA, the Americas, and Europe, the company has established itself as a global leader in the industry.

• SCHAEFFLER GROUP USA INC. (SCHAEFFLER AG) - Schaeffler Group USA Inc. is a manufacturer of engine and drive train components, rolling bearings, automotive clutches, dual flywheels, hydraulic systems, and torque converters. The company specializes in engineering, production, development, sale, and marketing of automotive parts. In late 2016, they introduced "Mobility for Tomorrow" and have since implemented various strategies from 2017 to 2019. These strategies include "New drive concepts," "autonomous driving," and "industry 4.0." Several key initiatives have been completed or transferred to the functional line to ensure a lasting impact. The company's focus on organic growth through innovation and technological expertise is expected to solidify its current market position further.

• VALEO SA - Valeo S.A. is a leading supplier in the automotive industry and a trusted partner to major automakers worldwide. As a technology-driven company, Valeo is dedicated to recommending and developing innovative products and systems that enhance vehicle performance. With a strong commitment to research and development, the company invested a significant portion of its sales, approximately 10%, in R&D activities in 2019. Valeo operates a vast network of 191 plants and 15 distribution platforms, supported by 59 research and development centers. Its global presence extends to over 33 countries, where it maintains offices. Recognized for its excellence, Valeo S.A. is a member of the prestigious CAC 40 index and is listed on Euronext Paris. In 2020, the company's total R&D expenditure reached USD 2,038.8 million, demonstrating its dedication to technological advancement.

• ZF FRIEDRICHSHAFEN AG - ZF Friedrichshafen AG is an automotive supplier specializing in the engineering, manufacturing, and research & development of braking technology. The company is engaged in delivering active and passive safety technology for commercial vehicles and passenger cars. It operates through seven divisions: Car Chassis Technology, Car Powertrain Technology, Industrial Technology, Commercial Vehicle Technology, Active & Passive Safety Technology, eMobility, and ZF Aftermarket. The company has a presence in 230 locations across 40 countries globally. Its R&D activities include approximately 14,550 employees, out of which 1,600 are engineers and technicians located in Friedrichshafen (Germany), Pilsen (Czech Republic), Tokyo (Japan), Shanghai (China), and Michigan (U.S.).

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Electric Powertrain Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Electric Powertrain Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.