Alternative Powertrains Toyota, Honda, Hyundai, NISSAN, MITSUBISHI, Bosch, ZF, Mahle, Allison Transmission, Eaton, ALTe Technologies, Voith, BYD, SAIC, CSR Times, Yuchai Group, Tianjin Santroll

The global electric powertrain market size was valued at USD 87.71 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 38.7% from 2022 to 2032. Alternative Powertrains will reach at $ 123.76 billion by 2032 at CAGR 12.2 %. However, stringent emission norms by government agencies, such as emission standards for Greenhouse gas (GHG) emissions by the U.S. Environmental Protection Agency (EPA), BS-VI norms in India, and China VI, are driving the market growth.
Alternative Powertrains market competition by TOP Players are: Toyota, Honda, Hyundai, NISSAN, MITSUBISHI, Bosch, ZF, Mahle, Allison Transmission, Eaton, ALTe Technologies, Voith, BYD, SAIC, CSR Times, Yuchai Group, Tianjin Santroll

Get Free Sample PDF including full TOC, Tables and Figures and Available customizations) in Alternative Powertrains: https://www.mraccuracyreports.com/report-sample/338847

he market growth is also being impacted by the growing price sensitivity of customers during the current crisis. Moreover, Europe, which is one of the most prominent regions for the adoption of electric vehicles, is also witnessing a sharp decline in the sales of electric cars. Countries such as Italy, Spain, and Germany are among the worst-hit nations.

Electric Vehicle Insights
The BEV segment accounted for the largest share of 70.2% of the overall market in 2021. A battery electric vehicle (BEV) is a vehicle that is powered entirely on electric energy. BEV has no internal combustion engine or fuel tank and runs on an electric drivetrain powered via rechargeable batteries. BEV needs to be plugged into a power source to charge. The high share attributes to a decline in the sales of ICE vehicles and restrictions on CO2 targets. Moreover, advancements in battery technology and reduction in lithium-ion battery prices are also expected to boost the demand for BEVs in the forecast years.
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The market share (by revenue) for the public players will be based on the information available in the public domain, and for the private players, such information will be provided on best effort basis, which will entirely be based on primary interviews and latest developments of the companies

On the basis of product, the Alternative Powertrains market research displays the revenue, price, market share and growth rate of each type, primarily split into,

Hybrid Engine, Full Battery Electric, Hydrogen Fuel Cell, Others.

On the basis of the end users, the Alternative Powertrains market research focuses on the status and outlook for major applications, consumption (sales), market share and growth rate for each application, including

Commercial Vehicle, Passenger Cars, Off-highway Applications
Regional Insights
Europe captured the largest revenue share of the market for the electric powertrain, accounting for 45.2% in 2021. Countries such as the Netherlands, Norway, France, and Sweden have witnessed high adoption of EVs, which is likely to contribute to the growth of the regional market in the region. Germany is one of the largest automotive hubs globally, with most automobile manufacturers such as Audi AG, Volkswagen AG, and BMW AG, among others, focusing on the production and sales of electric vehicles, leading to an increase in demand for the electric vehicle powertrain market.

Asia Pacific captured the second-largest revenue share of the market for the electric powertrain, accounting for 41.6% in 2021. Countries such as China, Japan, South Korea, and India are among the prominent automobile manufacturers in this region. Stringent government regulations and emission norms to solve the global warming issues resulting from substantial Co2 emissions are expected to contribute to the growth of the Asia Pacific market

North America (United States, Canada and Mexico)

Europe (Germany, France, UK, Russia and Italy)

Asia-Pacific (China, Japan, Korea, India and Southeast Asia)

South America (Brazil, Argentina, Colombia etc.)

Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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