Electric Powertrain Market

Market Leader - Electric Powertrain Market

The global electric powertrain market size is projected to reach USD 191.4 billion by 2027, from an estimated USD 62.9 billion in 2019, at a CAGR of 14.9 %. The base year for the report is 2018, and the forecast period is from 2019 to 2027.

The electric powertrain market is expected to witness rapid growth due to stringency in emission norms which is pushing automakers to come up with electrified powertrain technologies. Between 2025 and 2030, emission standards would require automakers to reduce CO2 emissions by 15% and 37%, respectively. Also, government incentives to buyers for mass adoption of electric vehicles have accelerated the market for electric vehicle powertrains. For example, the Indian government announced tax rebates of upto USD 2,106 on interest loans for EVs.

The electric powertrain market is dominated by globally established players such as Bosch (Germany), Mitsubishi Electric (Japan), Magna (Canada), Continental AG (Germany), and Hitachi (Japan). These companies developed new products, adopted expansion strategies, and undertook collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth electric powertrain market.

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Bosch is a leading player in the electric powertrain market. The company provides various electric powertrain components such as DC/DC converters, regenerative braking systems, iboosters, vehicle control units, power electronics and motor generators, pedal travel sensors, and e-axles for hybrid and electric vehicle. The company is focusing on new product developments as well as partnerships/collaborations. Bosch and CATL (Contemporary Amperex Technology) have concluded an agreement to design and manufacture battery cells to be used in 48V hybrid powertrains in accordance with Bosch requirements.

Mitsubishi Electric is another player offering products such as inverters/converters, 48V ISG systems, motors, battery management units, on-board chargers, brush motors, brushless motor controller units, and brush motor control unit. Mitsubishi has focused mainly on expansions/new product developments. For instance, the company opened a new plant in the Czech Republic to produce electric motors and inverters at Mitsubishi Electric Automotive s.r.o which is scheduled to be operational by 2020.

Magna is another leading player in the electric powertrain market and offer products such as hybrid transmissions, mild hybrid solutions such as e-drives, power control modules, e-clutche,  and chassis control modules. The company has focused on inorganic developments such as joint ventures/contracts. For instance, Magna, BAIC Group, and Zhenjiang government signed an agreement of their joint electric vehicle manufacturing venture in Zhenjiang, China. It will be Magna’s first complete vehicle manufacturing facility outside Europe.

Continental AG is also among the top players in the electric powertrain market. It offers products such as battery management systems, electric machines, electric vehicle control modules, DC/DC converters, inverters, 48V starter generators, brushless motor controllers, and transmission controllers. The company has focused on new product developments and expansions. For instance, Continental AG opened a new powertrain plant in Wuhu, China, with a total investment of USD 31 million with 22 production lines. This facility will produce various powertrain components such as sensors, actuators, and thermal management components for IC engines and electric vehicles.

Hitachi is also among a prominent name in the electric powertrain market. It offers products such as high technology motors/generators and inverters/converters for HEV, MHEV, and BEVs. The company has focused on new product developments as well as partnerships/joint ventures/supply contracts. For instance, Hitachi and the Institute of Multidisciplinary Research for Advanced Materials of Tohoku announced the co-development of highly safe lithium-ion secondary batteries using a new, less combustible electrolyte over conventional electrolytes.

Related Reports:

Electric Powertrain Market by Component (Motor, 12V, HV/48V Battery, BMS, 48V ISG, Controller, PDM, DC/AC Inverter, DC/DC Converter & Others), Type (BEV, MHEV, Series, Parallel & Parallel-Series), Vehicle Type, and Region - Global Forecast to 2027

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Electric Powertrain Market Size,  Share & Growth Report
Report Code
AT 7498
RI Published ON
1/9/2020
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