According to a new market report published by Lucintel, the future of the global electric vehicle powertrain market looks promising with opportunities in passenger cars and commercial vehicles segment. The global electric vehicle powertrain market is expected to grow with a CAGR of 15% from 2021 to 2026. The major drivers for this market are increasing demand for electric vehicles, domestic production of electric vehicles, and stringent emission government standards.
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In this market, transmission, motors, batteries, engines, and controllers are the major components used to manufacture electric vehicle powertrain. On the basis of comprehensive research, Lucintel forecasts that motors will remain the largest segment, and it is also expected to witness the highest growth over the forecast period because of increasing number of electric vehicles every year and development of rear-wheel-drive system.
Within the global electric vehicle powertrain market, the hybrid electric vehicle (HEV) segment is expected to witness the highest growth over the forecast period due to use of the internal combustion engine in interaction with the electric powertrain.
APAC is expected to remain the largest market and witness the highest growth over the forecast period due to rise in per capita income of customers, implementation of strict emission rules, and development of electric infrastructure.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing sales of electric vehicles, technological development, and innovation in battery production. Robert Bosch, Mitsubishi Electric, Magna International, Continental AG, Cummins Inc, ZF Friedrichshafen AG, and Hitachi are among the major suppliers of the electric vehicle powertrain market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global electric vehicle powertrain market by component, type, vehicle type, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Electric Vehicle Powertrain Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global electric vehicle powertrain market by component, type, vehicle type, and region, as follows:
By Component [Value ($ Million) from 2015 to 2026]:
Transmission
Motors
Batteries
Engines
Controllers
By Type [Value ($ Million) from 2015 to 2026]:
Battery Electric Vehicles
Hybrid Electric Vehicles
Plug-in Hybrid Electric Vehicles
By Vehicle Type [Value ($ Million) from 2015 to 2026]:
Passenger Cars
Commercial Vehicles
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.