The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

1. Market Overview

• Growth Trajectory: A solid rise from $63.93 billion in 2023 to $69.69 billion in 2024 at a CAGR of 9.0%.
• Driving Forces: Environmental awareness, government incentives, fuel prices, consumer interest, regulatory pressure, and infrastructure development.

2. Projected Growth

• Future Outlook: Expected to reach $97.44 billion in 2028, with a CAGR of 8.7%.
• Key Contributors: Cost reductions, electrification initiatives, market competition, consumer preferences, and smart cities initiatives.
• Major Trends: Increasing demand for retrofit solutions, battery technology advancements, regulatory support, technological innovations, and partnership expansions.

3. Surging Demand For Electric Vehicles Fuels Market Growth

• Electric Vehicle Dynamics: Growing demand for electric vehicles drives the need for retrofit powertrain solutions.
• Market Validation: Sales of electric cars doubled in 2021, reaching 6.6 million units globally, solidifying the demand for electric vehicles.
• Key Players: Major companies such as Robert Bosch GMbH, Mitsubishi Electric Corporation, and Tesla Inc. dominate the market.

Read The Full Automotive Retrofit Electric Vehicle Powertrain Market Report Here:
https://www.thebusinessresearchcompany.com/report/automotive-retrofit-electric-vehicle-powertrain-global-market-report

4. Arai-Approved Electric Powertrain Innovation

• Product Innovations: Companies focus on developing innovative solutions to enhance market presence.
• Starya Mobility’s Solution: Introduction of an ARAI-approved electric powertrain for petrol scooters, replacing internal combustion engines with electric counterparts.
• Mercedes-Benz’s Acquisition: Mercedes-Benz’s acquisition of YASA aims to elevate electric drive innovations for superior vehicle performance.

5. Market Segmentation

• Component Type: Inclusive conversion kits, electric motors, batteries, controllers, chargers, and other components.
• Vehicle Type: Two-wheelers, passenger vehicles, and commercial vehicles.
• Electric Vehicle Type: All-electric vehicle battery, plug-in hybrid vehicles, and hybrid vehicles.

6. Regional Dominance

• Asia-Pacific: Emerged as the largest region in the automotive retrofit electric vehicle powertrain market in 2023.

Conclusion

The automotive retrofit electric vehicle powertrain market is on a trajectory of robust growth, fueled by the increasing demand for electric vehicles globally. Innovations in product offerings, strategic acquisitions, and market segmentation are key strategies driving market players forward. As the world embraces sustainability and electric mobility, the automotive retrofit electric vehicle powertrain market stands poised for significant expansion in the coming years, reshaping the automotive industry landscape.

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The Automotive Retrofit Electric Vehicle Powertrain Global Market Report 2024  provides an overview of the automotive retrofit electric vehicle powertrain market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automotive retrofit electric vehicle powertrain market forecast analyzes automotive retrofit electric vehicle powertrain market size, automotive retrofit electric vehicle powertrain market share, leading competitor and their market positions.

The Table Of Content For The Automotive Retrofit Electric Vehicle Powertrain Market Include:

1. Automotive Retrofit Electric Vehicle Powertrain Market Executive Summary
2. Automotive Retrofit Electric Vehicle Powertrain Market Segments
3. Automotive Retrofit Electric Vehicle Powertrain Market Size And Automotive Retrofit Electric Vehicle Powertrain Market Growth Rate
4. Key Automotive Retrofit Electric Vehicle Powertrain Market Trends
5. Major Automotive Retrofit Electric Vehicle Powertrain Market Drivers
……
25. Key Mergers And Acquisitions In The Automotive Retrofit Electric Vehicle Powertrain Market
26. Top Automotive Retrofit Electric Vehicle Powertrain Companies
27. Automotive Retrofit Electric Vehicle Powertrain Market Opportunities And Strategies
28. Automotive Retrofit Electric Vehicle Powertrain Market, Conclusions And Recommendations
29. Appendix

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