Yahoo Finanza Electric Powertrain Market To Hit $1,078.18 Billion by 2031: Allied Market Research
Rise in sales of electric vehicles and strict vehicular emission norms drive the growth of the global electric powertrain market. Surge in infrastructural breakthroughs of EV infrastructure and technological innovations will open new avenues for the growth for the global market. Asia-Pacific contributed toward the highest market share in 2021.
Portland, OR, Aug. 14, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global electric powertrain market accrued earnings worth $83.66 billion in 2021, and is predicted to hit $1,078.18 billion by 2031, registering a CAGR of 29.1% from 2022 to 2031. The market research study provides a detailed analysis of oscillating market trends, top-most segments, value chain analysis, major investment business scenarios, regional space, and competitive landscape. The study is a key information source for giant players, entrepreneurs, shareholders, and owners in generating new strategies for the future and taking steps to improve their market position. The report displays an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly emerging industry.
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E-Powertrain Industry Report coverage & details:
Report Coverage | Details |
Forecast Period | 2022–2031 |
Base Year | 2021 |
Market Size in 2021 | $83.66 Billion |
Market Size in 2031 | $1,078.18 Billion |
CAGR | 29.1 % |
No. of Pages in Report | 437 |
Segments Covered | Component, Vehicle Type, Vehicle Class, Vehicle Drive Type, Application, and Region. |
Drivers | Rise in the sale of electric vehicles and strict vehicular emission norms. |
Opportunities | Surge in infrastructural breakthroughs of EV infrastructure and technological innovations. |
Restraints | Rise in manufacturing costs and serviceability as well as range anxiety. |
Covid-19 Scenario
The COVID-19 pandemic severely impacted the expansion of the global electric powertrain market, due to the disruptions of supply chain.
Massive dependence on the global supply chain activities inhibited the global market growth during the COVID-19 pandemic.
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The report offers detailed segmentation of the global electric powertrain market based on component, vehicle type, vehicle class, vehicle drive type, application, and region. It provides an in-depth analysis of every segment and sub-segment in tables and figures through which consumers can derive a conclusion about market trends and insights. The market report analysis aids organizations, investors, and entrepreneurs in understanding which sub-segments are to be tapped for achieving huge growth in the years ahead.
Based on the application, the BEV segment contributed the largest market share in 2021, accounting for more than three-fourths of the overall share of the global electric powertrain market. Moreover, this segment is predicted to retain its dominant status during the forecast timespan. In addition, the segment is projected to record the fastest CAGR of 29.5% during the forecast period. The report also provides an overall analysis of segments such as PHEV and FCEV.
Based on the component, the battery segment held the largest share in 2021, contributing nearly three-fifths of the overall share of the global electric powertrain market. Moreover, this segment is predicted to contribute the highest market share by 2031. However, the on-board charger segment is also anticipated to record the fastest growth with CAGR of nearly 34.2% during the forecast timespan. The report also provides an overall analysis of segments such as power electronic controller, motor/generator, converter, and transmission.
Based on the vehicle type, the passenger car segment held the largest share in 2021, contributing more than four-fifths of the overall share of the global electric powertrain market. Moreover, this segment is predicted to contribute the highest market share by 2031. However, the commercial vehicle segment is also anticipated to record the fastest growth with CAGR of nearly 31.0% during the forecast timespan.
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Based on the vehicle class, the mid-priced segment held the largest share in 2021, contributing nearly four-fifths of the overall share of the global electric powertrain market. Moreover, this segment is predicted to contribute the highest market share by 2031. However, the luxury segment is also anticipated to record the highest growth with CAGR of nearly 31.1% during the forecast timespan.
Based on the vehicle drive type, the all wheel drive segment held the largest share in 2021, contributing more than two-fifths of the overall share of the global electric powertrain market. Moreover, this segment is predicted to contribute the highest market share by 2031. However, the rear wheel drive segment is also anticipated to record the fastest growth with CAGR of nearly 30.7% during the forecast timespan. The report also provides an overall analysis of segments such as front wheel drive.
Based on region, Asia-Pacific contributed toward the highest market share in 2021, accounting for nearly half of the global electric powertrain market. The region is predicted to contribute majorly toward the global market share in 2031. Moreover, the LAMEA electric power train market is slated to record the highest CAGR of 32.0% during the forecast timeline. The research also analyzes regions including Europe and North America.
Leading players in the global electric powertrain market analyzed in the research are BorgWarner, Brusa Electronik, Robert Bosch GmbH, Continental AG, Dana Incorporated, Denso, Hitachi, Magna International Inc., Magneti Marelli Ck Holdings, Mitsubishi Electric Corp., Schaeffler AG, ZF Friedrichshafen AG, Nidec Corporation, Panasonic, Toyota Industries Corporation, Valeo, and Kelly Controls, Inc.
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The report evaluates these major participants in the global electric powertrain industry. These participants have executed a spectrum of key business strategies such as the expansion of regional and customer base, product development, strategic collaborations, and joint ventures for expanding product lines in the global markets and extending the global market growth. The market research report aids the performance monitoring of each segment, positioning of each product in respective segments, and impact of new technology land product launches on the overall market size.
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