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Global Automotive Retrofit Electric Vehicle Powertrain Market size was valued at USD 58.89 billion in 2021 and is poised to grow from USD 60.23 billion in 2022 to USD 116.2 billion by 2030, growing at a CAGR of 7.1% in the forecast period (2023-2030).
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Global Automotive Retrofit Electric Vehicle Powertrain Market Size, Share, Growth Analysis, By Vehicle Type (Two Wheelers, Passenger Vehicle), By Component Type (Electric motor, Inverter) - Industry Forecast 2023-2030 Global Automotive Retrofit Electric Vehicle Powertrain Market Insights Global Automotive Retrofit Electric Vehicle Powertrain Market size was valued at USD 58.89 billion in 2021 and is poised to grow from USD 60.23 billion in 2022 to USD 116.2 billion by 2030, growing at a CAGR of 7.1% in the forecast period (2023-2030). The continues depletion of global oil reserves as a result of significant CO2 emissions, as well as global warming concerns, have contributed to the rapid rise in oil prices. Energy conservation and environmental protection are global issues. As a result, the green energy trend dominates the industrial design and development of cars. So, automotive businesses are now focusing on developing e-powertrains that consume less energy and
emit less carbon. It acts as the vehicle's power source, replacing the requirements of the internal combustion engine. An electric drivetrain is a small, lightweight device that produces instant torque and very little vibration. The power distribution module (PDM), transmission, inverter, converter, gearbox, and electric motor are some of the important parts of an electric vehicle's powertrain. These things combine to provide a high- quality, smooth and responsive drive. The automotive retrofit electric vehicle powertrain market is driven by factors such as rising fuel prices, tightening emission norms, and growing demand for affordable solutions to switch to electric portability. In addition, government incentives for electric vehicles to reduce air pollution levels and the ban on the sale of new IC motor vehicles and the use of IC motor vehicles older than 15 years are also contributed into the growth of the global market. The vehicle's gasoline-fuelled motor and any associated components, such as axles, electric motors, batteries, and numerous microelectronic, such as converter and regulator is replaced as part of an electric vehicle retrofit. Retrofitted cars also offer open matrices and chargers so they can be charged at home. Electric car retrofitting is seen by many vehicle owners as a practical option to get electric vehicles without spending money on brand-new vehicles. In addition, retrofitting is increasingly seen as a way to extend the useful life and comfort of an old vehicle after it has served its purpose. Get a Complete Overview of Global Automotive Retrofit Electric Vehicle Powertrain Market: https://www.skyquestt.com/report/global-automotive-retrofit-electric- vehicle-powertrain-market
Automotive Retrofit Electric Vehicle Powertrain Market Top Player's Company Profiles: •EV West •Electric GT •Zero EV •Revolution Electric Vehicles •EV Source •HSR Motors •BorgWarner •AVID Technology •UQM Technologies Inc. •Magna International Inc. •Meritor, Inc. •TM4 •Bosch Limited •Continental AG •Cummins Inc. •Danfoss A/S •Denso Corporation •GKN Automotive Limited •Hitachi Automotive Systems, Ltd. •Johnson Electric Holdings Limited About Us: SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization, and technology services. It has 450+ happy clients globally. Address: 1 Apache Way, Westford, Massachusetts 01886 Phone: USA (+1) 617-230-0741 Email:sales@skyquestt.com
