Press Releases

The global electric vehicle powertrain market was USD 84.90 billion in 2022 and is expected reach USD 230.00 billion by 2030 with a CAGR of 15.13% during the forecast period, i.e., 2023-2030. The electric vehicle (EV) powertrain refers to the system responsible for propelling an electric vehicle, encompassing components like the electric motor, battery, and associated control systems. The global demand for EV powertrains is propelled by the growing emphasis on sustainable transportation, reduced carbon emissions, and government initiatives promoting EV adoption. The transition towards electric mobility, driven by environmental concerns and regulatory support, amplifies the market's growth; however, challenges such as high upfront costs, limited charging infrastructure, and concerns regarding battery life and range anxiety hinder the global electric vehicle powertrain market. Additionally, standardization issues and technological advancements, including improvements in energy density and charging speeds, are critical for overcoming challenges and fostering the widespread adoption of electric vehicle powertrains.

In November 2023, MAHLE Powertrain inaugurated a cutting-edge battery development center in Stuttgart, Germany, to meet the demands of European clients in the electric vehicle (EV) industry. Covering 1,300 square meters, the facility facilitates all stages of battery development, from prototyping to small-scale production for a range of applications, including e-bikes and electric trucks. Featuring advanced capabilities such as a dual-robot laser welding station and comprehensive testing departments, the center enhances MAHLE's capacity for EV innovation, complementing their existing vehicle and battery development center in Northampton, the U.K.

Browse 75 market data Tables and 45 Figures spread through 226 Pages and in-depth TOC on "Electric Vehicle Powertrain Market, by Vehicle Type (BEV, FCEV, PHEV, and MHEV), by Component (Battery, Power Electronic Controller, Motor/Generator, Converter, Transmission, On-Board Charger, and Other Components), by Application (Passenger Vehicle and Commercial Vehicle), and by Region (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) - Global Forecast to 2030

By type, BEV vehicle type dominates the global electric vehicle powertrain market.

Based on the vehicle type, the global electric vehicle powertrain market is segmented into BEV, FCEV, PHEV, and MHEV. In 2022, BEV dominated the global electric vehicle powertrain market due to their zero-emission profile, environmental sustainability, and technological advancements. Leading automakers like Tesla, with models such as the Model 3 and Model S, showcase the success of BEVs. The growing focus on reducing carbon footprints, advancements in battery technology, and increasing government incentives for electric mobility propel the dominance of BEVs in the electric vehicle powertrain market.

“The Asia-Pacific (APAC) is expected to register the fastest CAGR during the forecast period in the global electric vehicle powertrain market.”

The Asia-Pacific is expected to registered the highest CAGR the global electric vehicle powertrain market owing to rapid urbanization, government initiatives, and a surge in electric vehicle adoption. China's prominence is evident with electric vehicle giants like NIO and BYD, while Japan's Toyota plays a pivotal role. Robust infrastructure development, supportive policies, and a large consumer base drive Asia-Pacific's dominance, positioning the region as a key player in advancing electric vehicle powertrain technologies and market penetration.

Some of the major players in the global electric vehicle powertrain market include Tesla, Panasonic, LG Chem, BYD, CATL, Bosch, Siemens, ABB, Continental AG, ZF Friedrichshafen AG, Magna International, Hitachi Automotive Systems, BorgWarner, Denso Corporation, Valeo, Delphi Automotive, GKN Automotive, Toshiba, Robert Bosch GmbH, and Johnson Electric.

Global Electric Vehicle Powertrain Market Coverage (By Value)

• Vehicle Type Insight and Forecast 2018-2030

• BEV

• FCEV

• PHEV

• MHEV

• Component Insight and Forecast 2018-2030

• Battery

• Power Electronic Controller

• Motor/Generator

• Converter

• Transmission

• On-Board Charger

• Other Components

• Application Process Insight and Forecast 2018-2030

• Passenger Vehicle

• Commercial Vehicle

Geographical Segmentation

Global Electric Vehicle Powertrain Market by Region

• North America

• By Vehicle Type

• By Component

• By Application

• By Country – U.S., Canada, and Mexico

• Europe

• By Vehicle Type

• By Component

• By Application

• By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

• Asia-Pacific (APAC)

• By Vehicle Type

• By Component

• By Application

• By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

• South America

• By Vehicle Type

• By Component

• By Application

• By Country – Argentina, Brazil, Chile, and Rest of South America

• Middle East and Africa

• By Vehicle Type

• By Component

• By Application

• By Country – Saudi Arabia, U.A.E, South Africa, and Rest of Middle East and Africa