Press release
Electric Powertrain Market Insights by 2031 & Covid-19 Analysis | BorgWarner, Bosch Limited, Mitsubishi Electric Corp, Magna International Inc., Schaeffler AG, ZF Friedrichshafen AG, Valeo
Read more about Electric Powertrain Market here: https://www.globalinsightservices.com/reports/electric-powertrain-market
Key Trends
There are a few key trends in electric powertrain technology:
1. Increasing use of electric vehicles (EVs): As battery technology continues to improve and become more affordable, EVs are becoming increasingly popular. In fact, EV sales are expected to grow significantly in the next few years.
2. Increasing use of renewable energy: One of the main advantages of EVs is that they can be powered by renewable energy sources, such as solar and wind power. As renewable energy becomes more affordable and prevalent, EVs will become even more environmentally friendly.
3. Improving battery technology: As mentioned above, better battery technology is one of the main reasons why EVs are becoming more popular. Battery ranges are improving, and charging times are becoming shorter. This means that EVs are becoming more practical for everyday use.
4. Infrastructure development: In order for EVs to be truly successful, there needs to be a robust infrastructure in place. This includes things like charging stations and reliable power sources.Thankfully, there is a growing effort to develop this infrastructure, which should make EVs even more convenient to use in the future.
Market Segments
The Electric Powertrain Market is segmented by electric vehicle, BEV electric powertrain, HEV electric powertrain and region. By electric vehicle, the market is divided into BEV and HEV. Based on BEV, it is segmented into motor/generator, battery, power electronics controller and others. On the basis of HEV, it is bifurcated into motor/generator, battery, power electronics controller and others. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
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Key Drivers
The key drivers of the electric powertrain market are the increasing focus on reducing carbon emissions, the availability of government incentives, and the declining cost of electric vehicles.
The transportation sector is a major contributor to greenhouse gas emissions, and there is a growing focus on reducing these emissions in order to combat climate change. Electric vehicles emit no pollutants and have the potential to significantly reduce transportation-related emissions.
Government incentives, such as tax credits and subsidies, can make electric vehicles more affordable and increase consumer demand. In addition, the declining cost of electric vehicles is making them more attractive to consumers.
Key Players
The Electric Powertrain Market includes players such as BorgWarner, Bosch Limited, Mitsubishi Electric Corp, Magna International Inc., Schaeffler AG, ZF Friedrichshafen AG, Valeo, Nidec Corporation, Continental AG and Magneti Marelli Ck Holdings.
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