Electric Vehicle Powertrain Market by Component Type (Electric Motor, Inverter, Converter, Power Distribution Module, Transmission), by Vehicle Type (Passenger Cars, Buses & Coaches), by By Geography (North America, Europe, Asia-Pacific, Rest of the World) Forecast 2024-2032
The Electric Vehicle Powertrain Marketsize was valued at USD 7.99 USD billion in 2023 and is projected to reach USD 20.91 USD billion by 2032, exhibiting a CAGR of 14.73 % during the forecast period. The electric vehicle powertrain is the part of the vehicle that takes electrical energy stored in the battery pack and converts it into mechanical energy to move the car. There are two main types: These are the all-electric systems which run purely on batteries and the hybrid systems which have a battery and an internal combustion engine. Some of the key characteristics that are offered include high torque output which leads to quick acceleration, low noise, and zero tailpipe emission when the vehicle is fully electric. They include automobiles for personal use, automobiles for business use, and other mechanical equipment and devices. With the battery costs going down and the charging infrastructure being developed, the electric vehicle powertrains will be deployed across various transportation sectors to minimize the use of fossil fuels and emissions.
Component Type:
Vehicle Type:
Our comprehensive market research report provides the following:
The Asia-Pacific region is expected to dominate the electric vehicle powertrain market, driven by the growing demand for electric vehicles in China and India.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 14.73% from 2018-2032 |
Segmentation |
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 14.73% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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