Published Date: 12-Aug-2020
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According to a new report Global Electric Powertrain Market, published by KBV research, The Global Electric Powertrain Market size is expected to reach $38.9 billion by 2026, rising at a market growth of 14.3% CAGR during the forecast period.
The battery segment accounted for the largest share of revenue in 2019. The battery is the most influential factor when it comes to automotive electrification. It is the sole source of power in BEVs or in combination with other sources of power in other types of green vehicles. The motor/generator is predicted to experience the highest CAGR in the forecast period. The development of the e-motor is due to the increased proliferation of BEVs and PHEVs globally.
The BEV segment accounted for the highest portion of sales in 2019. HEV/PHEVs are expected to register the highest CAGR in the forecast period. These types of automobiles are designed to enhance the use of an internal combustion engine while interacting with an electric powertrain. The PHEVs have a more efficient electric motor and a significantly larger battery that can be recharged with the aid of an external power source. PHEVs offer consumers a more flexible choice because they are less worried with recharging.
Asia Pacific accounted for the highest share of revenue in 2019. It is attributable to the growing introduction of electric vehicles in countries such as China and India. The rising in the per capita income of consumers in these countries has greatly improved the adoption of electric vehicles. The introduction of strict emission regulations, such as BS VI and China VI, is projected to boost the demand in Asia Pacific. Countries in Asia Pacific are focused on the growth of electrical infrastructure.
Europe is considered to be a major market for electric cars because the region is marked by the presence of a large number of OEMs. Many European countries, such as Norway, the Netherlands, Sweden and France, are seeing high EV adoption rates. This, in turn, is expected to boost market demand in the region over the forecast period. North America has supremacy and strong adoption in electric vehicles.
Structural Insights: https://www.kbvresearch.com/electric-powertrain-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Robert Bosch GmbH, Mitsubishi Electric Corporation, Magna International, Inc., ZF Friedrichshafen AG, Valeo SA, Nidec Corporation, Continental AG, Hitachi, Ltd., BorgWarner, Inc., and Schaeffler AG.
By Electric Vehicle Type
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