Electric Powertrain Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028

Published Date : Dec 2020 | No. of Pages : 250 Pages | Category : ICT

The global Electric Powertrain market size is expected to be worth around US$ 38.17 billion by 2028, according to a new report by Vision Research Reports.

The global Electric Powertrain market size was valued at US$ 19.07 billion in 2020 and is anticipated to grow at a CAGR of 13.7% during forecast period 2021 to 2028.

Growth Factors

The market for the plug-in hybrid and pure electric vehicles has been growing at a significant rate, generating a high demand for automotive electric powertrains in the market. Initiatives taken by governments of various countries to promote the manufacturing of Electric Vehicles (EVs) is one of the key factors proliferating the demand for electric powertrain in the market. For instance, in 2019, the German government and auto manufacturers in the country approved to raise cash incentives under the “Environment Bonus” plan for electrically operated vehicles.

Increasing electric vehicle sales have compelled the prominent automotive component manufacturing companies to actively focus on catering the necessary EV components to gain a competitive advantage over other players. Companies have primarily shifted their focus on enhancing their manufacturing facilities in markets, such as Europe, China, and U.S. For instance, in February 2020, Nidec Corporation announced the investment of USD 1.8 billion to provide a push to electric vehicle powertrain business. The three new facilities in China, Poland, Mexico, would be able to deliver up to 8.4 million electric motors each year.

The competition in the power electronics component market is high owing to the number of suppliers currently aiming to enter into the market to gain lucrative benefits. The OEMs are finding it difficult to earn profits since they need to replace an ICE powertrain with an electric powertrain, which is more costly. They would struggle to make profits with the power electronics component until they achieve significant sales. The companies are working together to achieve a competitive edge. For instance, in January 2020, GKN Automotive, an electric drivetrain specialist, announced a partnership with Delta Electronics, a thermal management solutions company. The partnership will enable the development and integration of new technologies for the new generation of e-drive systems.

Report Highlights

The market has been segmented based on the component type into motor/generator, power electronics controller, converter, transmission, and on-board charger. The battery segment accounted for the largest revenue share of 35.4% in 2019. The battery is the most prominent component when it comes to the electrification of vehicles. It is the sole power source in BEVs or is in the combination of other power sources in other types of green vehicles. In BEVs, the battery pack constitutes around 50% of the total cost.

Motor/generator is anticipated to register the highest CAGR of 15.2% over the forecast period. The growth of the e-motor is attributed to accelerated penetration of BEVs and PHEVs globally. The BEVs and PHEVs can be equipped with similar e-motor configurations. Moreover, joint ventures between suppliers and OEMs emerging to produce e-motors would significantly leverage the demand for electric powertrains. 

The BEV segment accounted for the largest revenue share of 66.7% in 2019. The market has been segmented based on the electric vehicle, including BEVs (Battery Electric Vehicles) and HEV/PHEVs (Hybrid Electric Vehicles/Plug-In Hybrid Electric Vehicles). This is attributed to the slowdown in the adoption of internal combustion engine vehicles and restrictions on CO2 targets. The mass adoption of BEVs is a more effective solution to reduce the emission and the total cost of ownership in the long run. Moreover, advancements in battery technology and reduction in prices would leverage the demand for BEVs in the forecast period.

HEV/PHEVs are anticipated to register the highest CAGR of 14.01% over the forecast period. These types of vehicles are designed to enhance the use of the internal combustion engine in interaction with the electric powertrain. The PHEVs has a more powerful electric motor and a significantly larger battery that can be recharged with the help of an external source of power. PHEVs offer a more flexible option to its consumers as they are less concerned about recharging.

Asia Pacific accounted for the largest revenue share of 59.3% in 2019. This is attributed to the increasing adoption of electric vehicles in countries, such as China and India. Rise in the per capita income of customers in these countries has significantly increased the penetration of electric vehicles. Implementation of strict emission rules, such as BS VI and China VI, is expected to drive the market in Asia Pacific. Countries in Asia Pacific are focusing on the development of electric infrastructure. For instance, China's Didi Chuxing (DiDi) and the British gas, energy, and oil company entered into a collaboration with an aim to develop the charging infrastructure for electric vehicles in China. Such joint ventures between various organizations to develop charging infrastructure would result in the increased adoption of electric vehicles.

Key Players

  • BorgWarner

  • Mitsubishi Electric Corp

  • Schaeffler AG

  • ZF Friedrichshafen AG

  • Magna International Inc.

Market Segmentation

  • Component Outlook

    • Motor/Generator

    • Battery

    • Power Electronics Controller

    • Converter

    • Transmission

    • On-board Charger

  • Electric Vehicle Outlook 

    • BEV

    • HEV/PHEV

  • Regional Outlook 

    • U.S.

    • Canada

    • Germany

    • U.K.

    • Norway

    • Sweden

    • Netherlands

    • China

    • India

    • Japan

    • North America

    • Europe

    • Asia Pacific

    • Rest of the World 

The Electric Powertrain market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Electric Powertrain market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Electric Powertrain market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Electric Powertrain market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Electric Powertrain market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Electric Powertrain capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Electric Powertrain by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Electric Powertrain market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Electric Powertrain market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Electric Powertrain market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Electric Powertrain industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Electric Powertrain market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Electric Powertrain market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Electric Powertrain market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Electric Powertrain market. These factors have benefited the growth of the global market for Electric Powertrain. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Electric Powertrain. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Electric Powertrain are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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