Electric Powertrain Market worth $230.5 billion by 2030 - Exclusive Report by MarketsandMarkets™

1. Electric Powertrain Market worth $230.5 billion by 2030 - Exclusive Report by MarketsandMarkets™ NEWS PROVIDED BY MarketsandMarkets Jul 31, 2023, 04:00 ET  CHICAGO, July 31, 2023 /PRNewswire/ -- Electric Powertrain Market is projected to reach USD 230.5 billion by 2030 from USD 96.7 billion in 2023, at a CAGR of 13.2% from 2023 to 2030, according to a new report by MarketsandMarkets™. The electric powertrain market is driven by growing demand for electric vehicles which in turn is in?uenced by factors such as growing stringency in emission norms and government support in terms of tax exemptions & subsidies to promote electric vehicle sales. The need for higher range, & fast charging is leading to technological advancements in the electric powertrain industry.  Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=97605711 Browse in-depth TOC on "Electric Powertrain Market". 426 - Tables 64 – Figures        480 - Pages Electric Powertrain Market Scope: 

2. Report Coverage Details Market Size USD 230.5 billion by 2030 Growth Rate 13.2% of CAGR Largest Market Asia Pacific Market Dynamics Drivers, Restraints, Opportunities & Challenges Forecast Period 2023-2030 Forecast Units Value (USD Billion) Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends By Component (Motor/Generator, Battery, BMS, Controller, PDM, Inverter/Converter, On Board Charger), Type (BEV, MHEV, Segments Covered Series, Parallel & Series-Parallel Hybrid), Vehicle (BEV, FCEV, PHEV, MHEV), & Region Geographies Covered Asia Pacific, North America, Europe, Rest of the World Report Highlights Updated financial information / product portfolio of players Key Market Opportunities Development of lithium-ion batteries Key Market Drivers Government support to increase EV sales to lower CO2 emissions Inverter is estimated to be the largest market in the MHEV powertrain market. Inverters convert the DC power from the battery to the AC power used by the electric motor. The inverters also control the speed and torque of the motor by adjusting the frequency and amplitude of the AC power. This allows the driver to control the vehicle's speed and acceleration. Inverters help to improve the e?ciency of the electric motor by optimizing the power transfer from the battery to the motor, which in turn can help to increase the EV range. All these factors depict inverters as a key component in EV powertrains. The inverters contributed XX% of total EV components by value in 2022. Considering the complexity and sophistication required the manufacturing, the inverter market is concentrated by a few major players such as Bosch, Mitsubishi Electric, and Magna. In the coming years, the inverter market is expected to continue to grow with the growing demand for electric vehicles. MHEV powertrain is estimated to be the fastest-growing market. MHEV is an attractive revenue pocket for automakers right now. It is a good compromise for consumers who are looking for a fuel-e?cient vehicle that does not require the same level of infrastructure as a BEV. It is also cost-e?ective for automakers to introduce hybrid technology into their lineup and meet emissions regulations. Also, owing to the dropping prices of lithium-ion batteries, various automakers are turning to optimize lithium-ion batteries in their 48V systems. The sale of MHEVs will be growing as they o?er signi?cant improvements in fuel economy over traditional gasoline vehicles, which saves drivers money on fuel costs, which is appealing to consumers. MHEVs o?er a?ordable technology with similar fuel e?ciency as conventional engines. It is also easy to upgrade and integrate with the existing 

3. conventional engines making it more cost-e?ective for automakers which makes the vehicles more a?ordable to consumers as compared to the other EVs. MHEVs are not required to plug in to charge the battery; this makes them a more practical option for consumers who do not have access to charging stations. Nissan Qashqai, Fiat Panda, Fiat 500, Renault Captur, Audi A4, Mercedes C-Class, Audi Q5, BMW X3, and Audi A6 are some of the top-selling MHEVs in the market where Toyota's Next-gen Fortuner and Hilux MHEVs will be launched in 2024. Asia Paci?c is estimated to be the largest market for electric powertrain market. Asia Paci?c is the largest market for automotive production and sales. Contributing a major share to global vehicle production, the demand for electric vehicles is increasing in the Asia Paci?c region. In 2021, EVs count was around 6.6 million units which was double as compared to the previous year. China is leading the EV market, and it is the largest market for electric powertrains as well. According to projections by the Society of Automotive Engineering of China, the country's EV sales may increase by up to 15 million units. In 2021, China made more than half of the growth of global EV sales. This is because China is one of the leading players in the automotive industry and dominates the battery and EV market. It is home to some leading battery and EV manufacturers, such as CATL and BYD. The Chinese government has already spent heavily on incentivizing and subsidizing electric vehicle sales and providing a 10% purchase tax exemption to EV buyers until the end of 2023. They will be extending and optimizing the purchase tax exemptions to promote EV sales in the future. Similarly, countries like India and Japan are also estimated to observe signi?cant growth in the electric powertrain industry due to government support for electri?cation, consumers demand, and the presence of some prominent automakers like Tata Motors, Nissan, Toyota, etc. These factors altogether drive the electric powertrain market in Asia Paci?c with the growing electri?cation trend. Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp? id=97605711 Electric Powertrain Market Dynamics: Drivers: ?. Stringent emission norms ?. Growing vehicle electri?cation demand in automobile industry  Restraints:

4. ?. Lack of infrastructure for electric vehicle charging  ?. Emerging competing technologies in conventional engines  Opportunities: ?. Developments in lithium-ion batteries ?. Extended range o?ered by FCEVs  Challenges: ?. High cost of electrical components ?. Technological challenges with electric powertrains Key Market Players: The major players in Electric Powertrain Companies include Robert Bosch Gmbh (Germany), Mitsubishi Electric (Japan), Magna International Inc (Canada), Continental AG (Germany), and Hitachi Astemo Ltd. (Japan) among others. Recent Developments: 

5. In November 2021, Mitsubishi Electric Corporation (Mitsubishi Electric) entered the market of e- axles that integrate motors, inverters, and reduction gears for electric vehicles (EVs). In December 2021, Magna International Inc. (Magna) launched its all-electric connected powertrain, the EtelligentReach. The complete system comprises two electric motors, inverters, and transmissions and leverages advanced software to optimize vehicle range and driving dynamics. In February 2023, Continental AG launched a new electric motor rotor position sensor (eRPS) for electric vehicles. eRPS uses inductive technology to detect the precise position of the rotors of synchronous electric machines, resulting in increased e?ciency and smoother operation. In April 2023, Denso Corporation (Denso) developed its ?rst inverter with silicon carbide (SiC) power semiconductors. The inverter will be integrated into the BlueE Nexus Corporation's eAxle, installed in the Lexus RZ. In April 2021, Dana Inc. announced that their Spicer powertrain technologies, including the Dana 60 front-beam drive axle, the Dana 80 AdvanTEK dual rear-wheel drive, and the Spicer SPL drive shaft, are ?tted to the Ford F-600 Super Duty. Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=97605711 Browse Adjacent Market: Automotive and Transportation Market Research Reports & Consulting Related Reports: Electric Vehicle Market - Global Forecast 2030 EV Charging Connector Market - Global Forecast to 2025 Vehicle Electri?cation Market - Global Forecast to 2025 Driveline Market - Global Forecast to 2025 About MarketsandMarkets™: 

6. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine o?ering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us pro?cient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to- Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To ?nd out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com Research Insight: https://www.marketsandmarkets.com/ResearchInsight/electric-powertrain- market.asp Visit Our Website: https://www.marketsandmarkets.com/ Content Source: https://www.marketsandmarkets.com/PressReleases/electric-powertrain.asp Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg  SOURCE MarketsandMarkets

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