Global Electric Powertrain Market Size/Share Expected to Grow Around ~USD 346.84 Billion By 2032, at 15.4% CAGR: Polaris Market Research

NEW YORK, April 19, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Electric Powertrain Market Share, Size, Trends, Industry Analysis Report, By Powertrain Product Type (BEV, Mild Hybrid, Series Hybrid, Parallel Hybrid, and Series-Parallel Hybrid); By Vehicle Type; By Region; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.

"According to research report, the global electric powertrain market size/share was valued at USD 83.35 Billion in 2022 and is expected to reach USD 346.84 Billion by 2032, growing at a CAGR of 15.4% during the forecast period."

What is Electric Powertrain? How Big is Electric Powertrain Market Size/Share?

• Overview

Electric power train systems involve the foremost elements that produce and supply power to road facets for totally electric, hybrid electric, and plug-in hybrid electric vehicle administration. The rapidly rising demand for the electric powertrain market can be attributed to benefits such as unsullied discharge, enhanced fuel providence, and economical torque. These components integrate to remit a standard trait, effortless and extremely approachable drive.

Strict release criterion by government organizations such as discharge caliber for greenhouse gas discharge by the US Environmental Protection Agency, BS-VI criterion in India, and China VI are pushing the market growth. The recuperation post covid-19 in sales of unadulterated and blended electric vehicles is an eminent driving factor for the development of the electric power train industry.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Are:

• BorgWarner
• Bosch Limited
• Continental AG
• Dana Tm4 Inc.
• Hitachi
• Magneti Marelli Ck Holdings
• Valeo
• Nidec Corporation
• ZF Friedrichshafen AG
• Schaeffler AG
• Mitsubishi Electric Corp.
• Magna International Inc

For Additional Information on Key Players, Request to Download Sample Pages Here: https://www.polarismarketresearch.com/industry-analysis/electric-powertrain-market/request-for-sample

Key factors driving market growth

• Increasing environmental advantages to push the market

Electric vehicles are intended for the automotive market as conventional fuel vehicles are anticipated to deactivate in the near future. The electric powertrain market size is expanding as these vehicles are acquiring momentum as they offer environmental advantages and lesser aggregate costs of proprietorship contrasted to their interior combustion engine machines equivalent. Several nations have introduced strict schemes to inspire the acceptance of substitute fuel vehicles, including electric vehicles.

In the bygone decade, the automotive industry constituted of similar internal combustion engine powertrain. Nonetheless, the industry now is the extensive powertrain combination as it has been inclining with regards to more methodical and ecological transportation. Electric powertrain market sales are soaring as the automotive powertrain depository is assorted and involves several unadulterated electric and blended powertrains. Further, the holistic powertrain topography is becoming more energetic and intricate with the appearance of an electric powertrain.

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Recent trends influencing the market

The reach of PHEVs and BEVs to drive the market

• The growing acceptance of electric powertrains can be attributed to four components namely directives, framework, technology, and consumer predisposition. The reach of PHEVs and BEVs would robustly dictate the subsequent acceptance of electric powertrains worldwide. Directives for observing CO2 discharge are being rendered more formidable in the US and Europe.
• Inventions in battery mechanization have rendered electric vehicles more aggressive than traditional ICE vehicles by offering an elevated scope on a solitary charge. Batteries are an inherent part of electric powertrain systems. They comprise a noteworthy section of the aggregate price of electric cars, and their price has lessened remarkably due to technological progression, product process expansion, and economies of scale.

Segmentation assessment

• BEV segment held the largest market share

Based on the powertrain product type, the BEV segment held the largest market share. Electric powertrain market demand is on the rise due to the fact that to invigorate. A BEV must be linked to an electric channel. The vast proportion can be determinable to the CO2 purpose' limitation and the plummeting in ICE car sales.

• The car segment dominated the market

Based on vehicle type, the car segment held a notable revenue market share. Electric powertrain market trends include the extensive number of makers concentrating on electric cars. Portable machines such as electric bikes and other electric conveyors are anticipated to procure momentum in the near future due to demand in the regions of Europe, Asia Pacific, and America.

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Electric Powertrain Market: Report Scope & Coverage

Geographic Overview

• Increasing demand for an electric powertrain to propel the Asia Pacific market

Asia Pacific held the largest electric powertrain market share as demand for it has also expanded in the region. Nonetheless, the global industry has a lot of downsides. Product price is extremely elevated and is an important damper in countries with lesser economic growth. Additionally, upkeep is expensive and needs recurrent charging and exchanging of batteries.

Europe is forecast to become an important market for electric powertrains in the time of the forecast period because of the existence of numerous OEMs in the region. The escalated scope of EV acceptance in countries such as the Netherlands, France, Norway, and Sweden is expected to reinforce the augmentation of the electric powertrain sector in the region.

Browse the Detail Report "Electric Powertrain Market Share, Size, Trends, Industry Analysis Report, By Powertrain Product Type (BEV, Mild Hybrid, Series Hybrid, Parallel Hybrid, and Series-Parallel Hybrid); By Vehicle Type; By Region; Segment Forecast, 2023 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/electric-powertrain-market   

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Recent developments

• In July 2021, Mercedes Benz disclosed that it obtained Yasa, a contributor of progressive electric actuation technology. The business provides automobile zone infusion for electric and blended powertrains. Yasa will persevere in operating as a retained Mercedes Benz ancillary.

Polaris Market Research has segmented the Electric Powertrain market report based on powertrain product type, vehicle type, and region:

By Powertrain Product Type Outlook

• BEV
• Mild Hybrid
• Series Hybrid
• Parallel Hybrid
• Series-Parallel Hybrid

By Vehicle Type Outlook

• Light Vehicles
• Cars
• Light Trucks

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research