Future of E-Powertrain Market

The electric powertrain market is projected to reach 51,288 thousand units by 2032, from an estimated 18,181 thousand units in 2024, at a CAGR of 13.8%.

The market is driven by several factors, including the increasing global adoption of electric vehicles (EVs) due to their environmental benefits and government regulations to reduce emissions from conventional engines. Automakers face pressure to decrease CO2 emissions by as much as 55% by 2030, fueling the development of electrified powertrain technologies. Additionally, government incentives, such as EV purchase subsidies, enhance market adoption. For example, in June 2023, China introduced a significant tax incentive package totaling USD 72.3 billion (520 billion yuan) over four years to encourage the mass adoption of electric vehicles, further accelerating the market for electric vehicle powertrains.

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In the electric powertrain market Rober Bosch Gmbh (Germany), Magna International Inc. (Canada), Vitesco Technologies Gmbh (Germany), Dana Limited (US), Valeo (Germany), etc. are some of the leading players in the market. These players have adopted several strategies to strengthen their market position and expand globally by improving their product portfolios, technological advancements, strategic partnerships, etc.

Robert Bosch Gmbh

Robert Bosch GmbH, based in Germany, is a critical player in the electric powertrain market, offering a comprehensive range of components such as DC/DC converters, power electronics, motor generators, and e-axles for hybrid and electric vehicles. With a strong focus on research and development, Bosch invests heavily in innovative technologies and has formed strategic partnerships, such as its collaboration with BYD to develop traction control systems for EVs and with Dana Inc. for producing bi-polar plates for fuel-cell electric vehicles. The company aims for over 6% average annual sales revenue growth in its mobility solutions segment from 2023 to 2030 while improving EBIT margins. Bosch is also expanding into hydrogen fuel cell technology, developing new injectors and scalable tank systems, and has begun mass production of fuel-cell powertrain systems. Additionally, their Viper 800-Volt Silicon Carbide Inverter enhances electric vehicle performance and charging efficiency, addressing critical consumer concerns like range and charging time.

Magna International Inc.

Magna International Inc., headquartered in Canada, is a prominent player in the electric powertrain market, providing a range of products, including hybrid transmissions, e-drives, power control modules, and chassis control modules. The company has a solid global presence, particularly in North America, with around 342 manufacturing sites and 104 product development and sales centers in 28 countries. Magna focuses on inorganic growth through joint ventures and contracts, recently securing a supply contract from General Motors for battery enclosures for the 2024 Chevrolet Silverado EV and partnering with LG Electronics to develop an all-electric connected powertrain. The company aims for net-zero greenhouse gas emissions by 2050, targeting a 90% reduction in Scopes 1, 2, and 3 emissions. Magna has developed an 800-V eDrive solution to enhance electric vehicle range and efficiency and expanded production capabilities for electric powertrain components in Mexico and Hungary. Additionally, it has secured new contracts for integrated e-drives in North America and Europe, positioning itself to meet the growing demand for EVs.

Vitesco Technologies Gmbh

Vitesco Technologies, headquartered in Regensburg, Germany, has around 35,500 employees globally. The company specializes in advanced drive technologies for electric, hybrid, and combustion vehicles. It is committed to leading the transition toward electrified mobility by advancing its electric drive systems and integrating innovative technologies for sustainable transportation. The company aims for sustainable growth while enhancing its value through scalable and efficient solutions in the electric powertrain sector. By 2030, Vitesco Technologies aspires to lead the electric powertrain market, providing cutting-edge solutions that meet the increasing demand for clean and efficient mobility. The company is pursuing strategic alliances and mergers to strengthen its market position, as evidenced by Schaeffler AG's voluntary public tender offer. Additionally, Vitesco has developed a high-voltage box that consolidates essential functions like charging, conversion, and power distribution into a single compact unit for electric vehicles, supporting systems of up to 800 V. The company invests heavily in research and development to drive innovation and create more efficient, cost-effective electric drive technologies.

Dana Limited

Dana is a global leader in providing efficient propulsion and energy-management solutions for diverse mobility markets, with its headquarters in Maumee, Ohio. In 2023, the company reported sales of USD 10.6 billion, supported by 42,000 employees across 31 countries. Dana offers various solutions, including traditional and electrified systems for commercial vehicles, off-highway equipment, and passenger cars, focusing on performance, efficiency, and cost-effectiveness for both Original Equipment Manufacturers (OEMs) and aftermarket customers. Through its joint venture, Dana TM4, established with Hydro-Québec in 2018, the company specializes in high-performance electric and hybrid powertrain systems, producing electric motors, generators, power electronics, and control systems for multiple sectors, including automotive and commercial vehicles. Dana TM4 strategically targets high-growth Asian markets, such as Thailand, India, and China, to expand its market share. The company aims to lead the electric propulsion market by investing in electrodynamic technologies and strategic acquisitions while integrating core technologies with digital content to enhance advanced solutions and increase vehicle content.

Valeo

Valeo is a leading manufacturer of automotive components for Original Equipment Manufacturers (OEMs), operating in four key segments: comfort and driving assistance systems, powertrain systems, thermal systems, and visibility systems. With 112,700 employees across 29 countries and 175 production facilities, Valeo is a global leader in vehicle electrification, providing a complete range of low—and high-voltage powertrain solutions. The company also ranks as the second-largest provider of thermal management systems for electric vehicles, which enhance efficiency and battery longevity.

Valeo aims to reduce industrial emissions by 75% by 2030 and targets USD 6.5 billion in orders for high-voltage solutions. Its strategic plan, Move Up, focuses on improving technological capabilities and operational efficiency while expanding local production in key markets like India. Collaborating with industry leaders like Renault and Siemens, Valeo co-develops advanced electric powertrain technologies. The company has also strengthened its market position through significant supply contracts in Europe, China, and North America, as well as by acquiring Valeo Siemens eAutomotive and merging its powertrain and thermal systems.

Related Reports:

Future of E-Powertrain Market by integration type (Integrated & Non-integrated), Component (Motor, Battery, BMS, Controller, PDM, Inverter/Converter, On-Board Charger), Propulsion (BEV, PHEV), Vehicle Type (PC & LCV) and Region - Global Forecast to 2032

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