The global electric powertrain market size was US$ 71.1 billion in 2021. The global electric powertrain market is forecast to grow to US$ 194.3 billion by 2030 by growing at a compound annual growth rate (CAGR) of 11.9% during the forecast period from 2022 to 2030. 

The battery, electric motor, and power transmission are used to make up an electric powertrain. In addition, it uses lightweight, low-vibration, immediate torque generating machines to replace gasoline-powered internal combustion engines.

Factors Influencing the Market

• Electric powertrains offer various benefits. They are fuel-efficient, eco-friendly, and demand low-maintenance transmission systems. Thus, it will fuel the growth of the global electric powertrain market during the forecast period. 
• Electric vehicles are considered the next breakthrough in the automotive segment. This next generation of vehicles possesses a massive growth potential, which will benefit the market in the coming years. 
• Fossil fuels are forecast to exhaust in the future, which will accelerate the growth of the electric powertrain market during the study period. 
• The growing investments for automobile electrification will escalate the market growth in the coming years. Furthermore, strict rules and regulations related to carbon emission will prompt the growth of the electric powertrain industry. 
• The advancement of lithium-ion battery technology will open up new possibilities for the electric powertrain industry. The lower cost of batteries would boost electric vehicle sales and will have a huge impact on the electric powertrain market. 
• Electric powertrains' global market may get hampered due to the lack of electric charging infrastructure. 

COVID-19 Impact Analysis

The ongoing COVID-19 epidemic has halted the growth of the market that had been attained in prior years by the electric powertrain industry. In addition, the demand for public transportation has become scarce, which is causing supply chain disruptions. Furthermore, changes in consumer purchasing behavior have highly impacted the global electric powertrain industry. 

Regional Analysis

The Asia-Pacific electric powertrain market is forecast to grow at the fastest rate due to the favorable governments' initiatives. The governments in the region are allocating cash to promote electric vehicle sales. During the forecast period, the development and technological innovations of powertrain components such as lithium-ion batteries, battery management systems, and motors are forecast to fuel the growth of the electric powertrain market.

North America is forecast to register significant electric car adoption and will contribute to the global electric powertrain industry. Many countries are constructing electric vehicle infrastructure, such as public electric car charging stations, to meet the demand for the electric powertrain.  Thus, it will surge the growth of the electric powertrain market during the forecast period. 

Competitors in the Market

• BorgWarner
• Bosch Ltd.
• Mitsubishi Electric Corp.
• Magna International Inc.
• Schaeffler AG
• ZF Friedrichshafen AG
• Valeo
• Nidec Corp.
• Continental AG
• Magneti Marelli CK Holdings
• Other Prominent Players

Market Segmentation

The global electric powertrain market segmentation focuses on Powertrain, Vehicle, Component, and Region. 

Based On Powertrain Type

• BEV Powertrain
• MHEV Powertrain
• Series Hybrid Powertrain
• Parallel Hybrid Powertrain
• Series-Parallel Hybrid Powertrain

Based On Vehicle Type

• Hybrid and Plug-In Hybrid Electric Vehicle (HEV/PHEV)
• Battery Electric Vehicle (BEV)
• 48V Mild Hybrid Electric Vehicle (MHEV)

Based On Powertrain Components

• Motor/Generator
• Battery
• Battery Management System
• Controller
• Power Distribution Module
• Idle Start-Stop
• On-board Charger
• Regenerative Braking
• Others

Based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America