Global Electric Powertrain Market Report 2023-2030 Featuring Profiles of Robert Bosch, Mitsubishi Electric, Continental, and Many Other Prominent Players in the Ecosystem

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Aug 17, 2023, 18:45 ET

DUBLIN, Aug. 17, 2023 /PRNewswire/ -- The "Global Electric Powertrain Market Outlook, 2030" report has been added to ResearchAndMarkets.com's offering.

Driving Tomorrow's Roads: Electric Powertrain Market Set for Exponential Growth

In a transformative era of sustainable transportation, the global electric powertrain market is primed for remarkable expansion, scaling from USD 96.7 billion in 2023 to an impressive USD 230.5 billion by 2030. The journey will be marked by a robust compound annual growth rate (CAGR) of 13.2% throughout the forecast period. This surge finds its impetus in the growing realization among consumers and enterprises about the multifaceted advantages of electric vehicles (EVs).

Electric Mobility Redefined: EVs Take Center Stage

The push toward zero-emission vehicles to meet net-zero emissions goals is reshaping the automotive landscape. A pivotal role in this shift belongs to Battery Electric Vehicles (BEVs), projected to seize a substantial market share in the times to come. With over 70% of electric car stocks in 2022 being BEVs, this segment's ascent is palpable. Key to this growth are components such as the motor/generator, control unit, and power distribution module, forecasted to dominate the BEV powertrain market by 2030.

Fuel-Cell Electric Vehicles (FCEVs): Fast-Tracking Growth

Fueled by substantial investments from prominent Original Equipment Manufacturers (OEMs) like Toyota, Hyundai, and Honda, Fuel-Cell Electric Vehicles (FCEVs) are positioned as the fastest-growing vehicle category. The allure of clean transportation solutions and compliance with stringent emission regulations is propelling the rapid adoption of FCEVs. Notably, the FCEV market witnessed a 40% global growth in 2022 compared to the previous year. With North America spearheading the charge, driven by a remarkable 20% increase in FCEV sales in the United States, the global FCEV landscape is marked for continuous expansion.

Asia Pacific: The Driving Force

The rise of electric powertrains is underscored by the dynamic automotive sector of Asia Pacific. Particularly, China, with its thriving battery market and an impressive roster of automakers, is steering the growth of the global electric powertrain market. The region's electric vehicle journey is propelled by key players like BYD, CATL, Toyota, and Hyundai. This trend echoes the broader global pattern, with the Asia Pacific region positioned as the largest market for FCEVs, and China, in particular, taking a commanding lead.

DC-DC Converters: Energizing the 48V MHEV Segment

Direct Current to Direct Current (DC-DC) converters, the backbone of Mild Hybrid Electric Vehicles (MHEVs), are emerging as a focal point in the electric powertrain landscape. With governments globally advocating for the adoption of 48V MHEV vehicles, the demand for DC-DC converters is rising exponentially. These converters are instrumental in integrating the 48V electrical system with conventional 12V architectures. Bolstered by ongoing research and development endeavors led by key players like Bosch and Valeo, DC-DC converters are projected to remain pivotal components in EV powertrains.

Fuel Stacks: Powering FCEV Expansion

As countries worldwide align with emission reduction policies, the significance of Fuel-Cell Electric Vehicles (FCEVs) is on the ascent. Asia Pacific, particularly China and Japan, stands as a dominant market, supported by leading automakers like BYD, CATL, Toyota, and Hyundai. A linchpin of FCEVs, the fuel cell stack drives the electrochemical reaction that transforms hydrogen and oxygen into electricity. Despite the associated costs, notable investments from automakers and fuel cell manufacturers are catalyzing innovation and cost reduction in this segment.

Europe: Leading the BEV Charge

Europe, a nucleus of automotive innovation, is embracing Electric Vehicles (EVs) with fervor. Countries like Germany, home to renowned automakers like Volkswagen and BMW, are offering incentives such as tax exemptions for BEV ownership till 2030. With a burgeoning network of public charging stations and an array of popular models like Tesla's offerings and Volkswagen's ID series, Europe is poised to dominate the Battery Electric Vehicle (BEV) market.

Navigating the Powertrain Landscape

The electric powertrain market's intricate web is defined by vehicle types, components, and regions. From BEVs and FCEVs to DC-DC converters and fuel stacks, the electrification journey is diverse and dynamic. Major players such as Robert Bosch GmbH, Mitsubishi Electric, and Continental AG are steering the sector with mergers, technological advancements, and strategic partnerships.

As the world pivots toward sustainable transportation solutions, the electric powertrain market stands as a driving force, reshaping the automotive industry and paving the way for a greener future.

Market Dynamics

Drivers

Stringent Emission Norms
Growing Vehicle Electrification Demand in Automobile Industry

Restraints

Lack of Infrastructure for Electric Vehicle Charging
Emerging Competing Technologies in Conventional Engines

Opportunities

Developments in Lithium-Ion Batteries
Extended Range Offered by FCEVs

Challenges

High Cost of Electrical Components
Technological Challenges with Electric Powertrains

Premium Insights

Stringent Emission Norms and Growing Demand for Electric Vehicles to Drive Market
Batteries Segment to Lead Market from 2023 to 2030
Battery Packs Segment to Dominate Market During Forecast Period
DC-DC Converters Segment to Register Highest CAGR During Forecast Period
Fuel Stacks Segment to Lead Market During Forecast Period
BEV Powertrain Segment to Dominate Market from 2023 to 2030
FCEVs Segment to Register Highest CAGR During Forecast Period
Asia-Pacific Accounted for Largest Market Share in 2023

Technology Overview

Robert Bosch GmbH: Electrified Powertrain Solutions
Mitsubishi Electric Corporation: New e-Axle
Magna International Inc.: All-Electric Connected Powertrain - EtelligentReach
Magna International Inc.: e-Beam Technology
Denso Corporation: Inverter Using SiC Power Semiconductors
Dana Incorporated: Drive Technologies
Valeo: Electric Motor Without Rare Earth Motor

Supply Chain Analysis

Electric Powertrain Market: Supply Chain Analysis
Electric Powertrain Raw Material Suppliers
Electric Powertrain Component Manufacturers
Electric Powertrain Manufacturers
OEMs
Electric Powertrain Market: Role of Companies in Supply Chain

Bill of Materials Analysis

B-Segment
C-Segment
D-SUV
F-SUV

Other Key Insights

Ecosystem
Trends/Disruptions Impacting Electric Powertrain Market
Average Selling Price Analysis of Battery Electric Powertrain (BEV), by Region
Average Selling Price Analysis of Plug-In Hybrid Electric Powertrain (PHEV), by Region
Trade Analysis (Import & Export Data)
Patent Analysis
Case Studies
Regulatory Landscape
Key Buying Criteria for Electric Powertrains
Key Stakeholders in Buying Process
Key Conferences and Events 2023-2024
Who Supplies to Whom (2021-2024)
Impact of Electrification on Vehicle Cost

Companies Profiled

Key Players

Robert Bosch GmbH
Mitsubishi Electric Corporation
Magna International Inc.
Continental AG
Hitachi Astemo, Ltd.
Borgwarner Inc.
ZF Friedrichshafen AG
Denso Corporation
Dana Incorporated
Valeo SA

Other Players

Brusa Elektronik AG
Kelly Controls
Nidec Corporation
Magneti Marelli CK Holdings
Toyota Industries Corporation
Panasonic
Curtis Instruments
Filtran LLC
Magtec
Cascadia Motion

Company Profiles: EV Battery Market

Key Players

CATL
Samsung SDI
Panasonic Holdings Corporation
LG Chem
BYD Company Limited

Mid-Tier Players

SK Innovation Co. Ltd.
Vehicle Energy Japan Inc.
Toshiba Corporation
Mitsubishi Corporation
Enersys

Start-Ups

Northvolt AB
Automotive Cells Company
Blueoval SK
Cellforce Group GmbH
Gotion Hi-Tech

Company Profiles: Automotive Traction Motor Market

Key Players

BorgWarner Inc.
BYD Co. Ltd.
Schaeffler Group
Robert Bosch GmbH
ZF Friedrichshafen AG

Mid-Tier Players

Johnson Electric Holdings Ltd.
Continental AG
Valeo SA
Mahle Group
Nidec Corporation

Other Players

Jing-Jin Electric
Shanghai Edrive Co. Ltd.
XPT Weilai Drive Technology
Zhuhai Enpower Electric Co. Ltd.
Anand Mando Emobility

Key Topics Covered

1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Electric Powertrain Market, by Vehicle Type
7 PHEV Powertrain Market, by Component
8 BEV Powertrain Market, by Component
9 FCEV Powertrain Market, by Component
10 48V MHEV Powertrain Market, by Component
11 Electric Powertrain Market, by Type
12 Electric Powertrain Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Company Profiles: EV Battery Market
16 Company Profiles: Automotive Traction Motor Market
17 Recommendations
18 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/msoksm

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