The Electric Powertrain Global Market Report 2023, provides comprehensive information on the electric powertrain market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Electric Powertrain Global Market Report 2023, the global electric powertrain market size is expected to grow from $77.16 billion in 2022 to $104.24 billion in 2023 at a compound annual growth rate (CAGR) of 35.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The electric powertrain market size is expected to reach $321.6 billion in 2027 at a CAGR of 32.5%.
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Innovations in battery technologies are a key trend gaining popularity in the electric powertrain market. Major players operating in the market are focused on developing innovative battery technologies to strengthen their market position. For instance, in May 2020, General Motors Co., a US-based automotive manufacturing company, launched new ultium batteries. It comprises pouch-style cells that can be stacked vertically or horizontally inside the battery pack. The ultium energy options vary from 50 to 200 kWh, which might allow for a GM-estimated range of up to 400 miles or more on a full charge, with 0 to 60 mph acceleration as fast as 3 seconds.
The electric powertrain market is segmented:
1) By Vehicle: Hybrid And Plug-In Hybrid Vehicle (HEV/PHEV), Battery Electric Vehicle (BEV), 48V Mild Hybrid Vehicle (MHEV)
2) By HEV/PHEV Powertrain Component: Motor/Generator, HV Battery, 12V Battery, Battery Management System, Controller, DC/AC Inverter, DC/DC Converter, Power Distribution Module, Idle Start-Stop, On-board Charger
3) By Component: Motor, Battery, Power Electronics Component
4) By Vehicle Types: Passenger Cars, Commercial Vehicles
Europe was the largest region in the electric powertrain market in 2022.
The table of contents in TBRC’s electric powertrain market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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