The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The increasing demand for electric vehicles are expected to drive innovation in electric powertrain manufacturing, thus driving the market during the forecast period.

The global electric powertrain market is expected to grow from $77.16 billion in 2022 to $104.24 billion in 2023 at a compound annual growth rate (CAGR) of 35.1%. The electric powertrain market size is expected to reach $321.6 billion in 2027 at a CAGR of 32.5%.

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Global Electric Powertrain Market Segments Include:

• By Vehicle: Hybrid And Plug-In Hybrid Vehicle (HEV/PHEV), Battery Electric Vehicle (BEV), 48V Mild Hybrid Vehicle (MHEV)
• By HEV/PHEV Powertrain Component: Motor/Generator, HV Battery, 12V Battery, Battery Management System, Controller, DC/AC Inverter, DC/DC Converter, Power Distribution Module, Idle Start-Stop, On-board Charger
• By Component: Motor, Battery, Power Electronics Component
• By Vehicle Types: Passenger Cars, Commercial Vehicles
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe is the largest region in the global electric powertrain market in 2021.

Major Market Players in the electric powertrain market include Bosch Limited, Mitsubishi Electric, Magna Internationls, Hitachi Astemo Americas Inc., Schaeffler AG, Valeo, Nidec Corporation, Marelli Holdings Co Ltd.

Innovations in battery technologies are a key trend gaining popularity in the electric powertrain market. Major players operating in the market are focused on developing innovative battery technologies to strengthen their market position. For instance, in May 2020, General Motors Co., a US-based automotive manufacturing company, launched new ultium batteries. It comprises pouch-style cells that can be stacked vertically or horizontally inside the battery pack. The ultium energy options vary from 50 to 200 kWh, which might allow for a GM-estimated range of up to 400 miles or more on a full charge, with 0 to 60 mph acceleration as fast as 3 seconds.

The Electric Powertrain Global Market Report 2023 provides a electric powertrain market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The electric powertrain market forecast analyzes electric powertrain market size, electric powertrain market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The electric powertrain is the collection of components that produce the necessary power to propel the vehicle and distribute it to the wheels. The primary purpose of electric powertrain is to convert direct current electricity to alternative current while driving.

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