Electric Powertrain Market Size, Share & Trends Report

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

Report ID: GVR-4-68038-764-3
Number of Pages: 130
Format: Electronic (PDF)

Historical Range: 2018 - 2021
Industry: Technology

Market Segmentation

Electric Powertrain Electric Vehicle Outlook (Volume, Units; Revenue, USD Billion, 2018 - 2030)
- BEV
- HEV/PHEV
BEV Electric Powertrain Component Outlook (Revenue, USD Billion, 2018 - 2030)
- Motor/Generator
- Battery
- Power Electronics Controller
- Converter
- Transmission
- On-Board Charger
HEV/PHEV Electric Powertrain Component Outlook (Revenue, USD Billion, 2018 - 2030)
- Motor/Generator
- Battery
- Power Electronics Controller
- Converter
- Transmission
- On-Board Charger
Electric Powertrain Regional Outlook (Volume, Units; Revenue, USD Billion, 2018 - 2030)
- North America
  - North America Electric Powertrain Market, by Electric Vehicle
    - BEV
    - HEV/PHEV
  - North America BEV Electric Powertrain Market, by Component
    - Motor/Generator
    - Battery
    - Power Electronics Controller
    - Converter
    - Transmission
    - On-Board Charger
  - North America HEV/PHEV Electric Powertrain Market, by Component
    - Motor/Generator
    - Battery
    - Power Electronics Controller
    - Converter
    - Transmission
    - On-Board Charger
  - U.S.
    - U.S. Electric Powertrain Market, by Electric Vehicle
      - BEV
      - HEV/PHEV
    - U.S. BEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
    - U.S. HEV/PHEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
  - Canada
    - Canada Electric Powertrain Market, by Electric Vehicle
      - BEV
      - HEV/PHEV
    - Canada BEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
    - Canada HEV/PHEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
- Europe
  - Europe Electric Powertrain Market, by Electric Vehicle
    - BEV
    - HEV/PHEV
  - Europe BEV Electric Powertrain Market, by Component
    - Motor/Generator
    - Battery
    - Power Electronics Controller
    - Converter
    - Transmission
    - On-Board Charger
  - Europe HEV/PHEV Electric Powertrain Market, by Component
    - Motor/Generator
    - Battery
    - Power Electronics Controller
    - Converter
    - Transmission
    - On-Board Charger
  - U.K.
    - U.K. Electric Powertrain Market, by Electric Vehicle
      - BEV
      - HEV/PHEV
    - U.K. BEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
    - U.K. HEV/PHEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
  - Germany
    - Germany Electric Powertrain Market, by Electric Vehicle
      - BEV
      - HEV/PHEV
    - Germany BEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
    - Germany HEV/PHEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
- Asia Pacific
  - Asia Pacific Electric Powertrain Market, by Electric Vehicle
    - BEV
    - HEV/PHEV
  - Asia Pacific BEV Electric Powertrain Market, by Component
    - Motor/Generator
    - Battery
    - Power Electronics Controller
    - Converter
    - Transmission
    - On-Board Charger
  - Asia Pacific HEV/PHEV Electric Powertrain Market, by Component
    - Motor/Generator
    - Battery
    - Power Electronics Controller
    - Converter
    - Transmission
    - On-Board Charger
  - China
    - China Electric Powertrain Market, by Electric Vehicle
      - BEV
      - HEV/PHEV
    - China BEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
    - China HEV/PHEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
  - Japan
    - Japan Electric Powertrain Market, by Electric Vehicle
      - BEV
      - HEV/PHEV
    - Japan BEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
    - Japan HEV/PHEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
  - India
    - India Electric Powertrain Market, by Electric Vehicle
      - BEV
      - HEV/PHEV
    - India BEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
    - India HEV/PHEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
  - South Korea
    - South Korea Electric Powertrain Market, by Electric Vehicle
      - BEV
      - HEV/PHEV
    - South Korea BEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
    - South Korea HEV/PHEV Electric Powertrain Market, by Component
      - Motor/Generator
      - Battery
      - Power Electronics Controller
      - Converter
      - Transmission
      - On-Board Charger
- Latin America
  - Latin America Electric Powertrain Market, by Electric Vehicle
    - BEV
    - HEV/PHEV
  - Latin America BEV Electric Powertrain Market, by Component
    - Motor/Generator
    - Battery
    - Power Electronics Controller
    - Converter
    - Transmission
    - On-Board Charger
  - Latin America HEV/PHEV Electric Powertrain Market, by Component
    - Motor/Generator
    - Battery
    - Power Electronics Controller
    - Converter
    - Transmission
    - On-Board Charger
- Middle East and Africa
  - Middle East and Africa Electric Powertrain Market, by Electric Vehicle
    - BEV
    - HEV/PHEV
  - Middle East and Africa BEV Electric Powertrain Market, by Component
    - Motor/Generator
    - Battery
    - Power Electronics Controller
    - Converter
    - Transmission
    - On-Board Charger
  - Middle East and Africa HEV/PHEV Electric Powertrain Market, by Component
    - Motor/Generator
    - Battery
    - Power Electronics Controller
    - Converter
    - Transmission
    - On-Board Charger

Electric Powertrain Market Dynamics

Driver: Growing vehicle electrification demand in the automotive industry

The demand for electric vehicles has experienced a significant surge as a result of substantial investments in vehicle electrification by major automotive OEMs like Ford, Tesla, Toyota, Honda, and General Motors. Moreover, the emerging collaborations between automotive and electric motor manufacturers are anticipated to increase the demand for electric vehicles further. For example, General Motors and Honda recently partnered to establish a North American automotive alliance. Honda planned to develop two plug-in electric vehicle models utilizing General Motors' battery pack while General Motors set a target to introduce 20 electric vehicle models by 2023. The increasing preference for electric vehicles has prompted leading automotive manufacturers to venture into the electric vehicle market. In 2019, Maruti Suzuki, a prominent player in the conventional vehicle market, revealed its intentions to launch electric vehicles for personal use in the coming years, specifically targeting the Indian market. The highly considerable nature of this market is expected to witness more conventional vehicle manufacturers to transition towards electric vehicles, thereby driving the growth of the electric powertrain market. The rising prices of conventional fuel and the surge in electric vehicle sales are projected to accelerate the development of vehicle electrification further. Additionally, stringent emission regulations and the increasing environmental consciousness among consumers are anticipated to fuel the demand for vehicle electrification. Furthermore, automotive companies such as Bosch and Renault Group have taken proactive measures to implement vehicle electrification and focus on incorporating electrified vehicles into their product portfolios, which is expected to stimulate the demand for vehicle electrification. All these factors combined are poised to drive the powertrain market growth throughout the forecast period.

Driver: Increasing sales of electric vehicles

The global electric powertrain market is experiencing substantial growth, mainly due to the rapidly expanding market for hybrid and electric vehicles. China stands out as the leading country in terms of pure electric vehicle sales, holding over 45% of the global market share. In 2019, the Chinese market witnessed the sale of 1.1 million electric vehicles, including Cars, SUVs, MPVs, and LCVs. Following closely behind China is the United States, where approximately 236,000 units of plug-in electric vehicles were sold in the first three quarters of 2019. The sales of electric vehicles have been on a significant rise, thanks to the favorable regulatory environment in the European and Asia-Pacific regions. These regions offer tax exemptions and subsidies to consumers and electric vehicle manufacturers. The promotion of environmental and sustainability objectives is a driving force behind the implementation of electric vehicle policies, which receive support from all levels of governance. Each country's government is actively developing tailored policies to foster electric vehicle market growth within their respective borders.

Restraint: High cost of electrical components

Despite the fact that electric vehicles have a lower total ownership cost compared to conventional vehicles, their initial buying price is higher than that of combustion vehicles. An article published in June 2020 by the Natural Resources Defense Council revealed that the average passenger electric vehicle buying price in the United States was USD 19,000, surpassing that of a gasoline vehicle. This significant initial price disparity presents a challenge for price-conscious customers who are considering buying an electric vehicle. These customers are reluctant to pay the premium for electric vehicles, even though the total ownership cost could be lower due to their high usage annually. Global original equipment manufacturers (OEMs) encounter difficulties when it comes to introducing an electric powertrain in passenger vehicles by replacing an internal combustion engine (ICE) powertrain. Electric powertrain costs between USD 5,000 to 13,000, which is higher than ICE powertrains depending on the desired battery size and range. However, as understanding and awareness of the overall benefits and low EV ownership costs continue to grow, this situation is expected to change in the upcoming years. As battery technology advances and production volume increases, the price difference between these vehicles will likely diminish in the next few years.

What Does This Report Include?

This section will provide insights into the contents included in this electric powertrain market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Electric powertrain market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments

Electric powertrain market quantitative analysis

Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance

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