Electric Powertrain Market Revenue Trends, Company Profiles, Revenue Share Analysis, 2021-2031

PORTLAND, ORAGON, UNITED STATES, August 22, 2022 /EINPresswire.com/ -- The electric powertrain market is segmented into component, vehicle type, vehicle class, vehicle drive type, application, and region. By component, the market is categorized into battery, power electronic controller, motor/generator, convertor, transmission, and on-board charger. By vehicle type, the market is fragmented into passenger car and commercial vehicle. By vehicle class, the market is divided into mid-priced and luxury. By vehicle drive type, the market is further classified into front wheel drive, rear wheel drive, and all-wheel drive. By application, the market is categorized into battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), and fuel cell electric vehicle (FCEV). By region, the market has been studied across North America, Europe, Asia-Pacific, and LAMEA.

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 The key players operating in the electric powertrain market are BorgWarner, Robert Bosch GmbH, Continental AG, Dana Incorporated, Denso, Hitachi, Magna International Inc., Magneti Marelli Ck Holdings, Mitsubishi Electric Corp., Nidec Corporation, Panasonic, Schaeffler AG, Toyota Industries Corporation, Valeo, ZF Friedrichshafen AG, Brusa Electronik (Key Innovator) and Kelly Controls, Inc. (Key Innovators).

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 Electric vehicles are advantageous over conventional vehicles; however, their cost is higher than traditional vehicles. Also, the electric powertrain market is expected to face challenges in the form of procurement of rare earth metals used in permanent magnets for synchronous motors, as the metals used in these motors are subject to export restrictions and supply risks. In addition, purchase of e-powertrain vehicles is expected to cost around twice the cost of traditional gasoline-powered vehicles. This large price difference between internal combustion and electric vehicles has made many fleet owners about making investment as there are lot of unknown variables present in determining total cost of ownership of electric vehicles. Thus, high initial cost of electric vehicles hinders growth of the electric powertrain market. According to a report on Forbes by energy innovation, the manufacturing cost of an electric vehicle is much higher currently compared to diesel or petrol trucks, but by 2030, it will be 50% cheaper compared to diesel and petrol variants with falling battery prices. Thus, high cost of electric vehicles challenging growth of the electric powertrain market.

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 Creating charging infrastructure can be daunting and expensive. It involves disrupting already congested travel corridors and finding suitable charging spaces and substantial outlays to achieve a decent EV charging infrastructure network. This needs to be supplemented with alternate solutions such as installing charging points within residential complexes, housing societies (including for visiting parking slots), shopping malls, parking lots, railway stations, offices, and small shops. Meanwhile, governments worldwide are focusing on infrastructural development for the EV landscape and thereby promoting EV use. Due to the heavy investment made by governments, public charging stations are installed in every possible public place. For instance, in April 2022, automobile manufacturer BYD India partnered with Chargezone, Volttic, and Indipro to set up charging infrastructure for EVs in India. This tie-up addresses the charging needs of the company’s electric multipurpose vehicles across multiple cities and major highways in the country. Also, in June 2021, the Canadian government announced an investment of about USD 2.35 million to install EV fast chargers in the country. Additionally, few governments like the government of China and France are subsidizing the construction of public charging stations, further expanding the electric powertrain systems market. Thus, the rising investments made by countries in developing EV charging infrastructure will create an opportunity for electric powertrain industry growth in the forecast period.

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 Key Benefits For Stakeholders
This study presents analytical depiction of the global electric powertrain market analysis along with current trends and future estimations to depict imminent investment pockets.
The overall electric powertrain market opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the global electric powertrain market with a detailed impact analysis.
The current Electric Powertrain market is quantitatively analyzed from 2022 to 2031 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

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