Press release
A Deep Dive into Automotive Retrofit Electric Vehicle Powertrain Market 2025: Key Drivers, Growth Factors, and Projections 2025-2034
Automotive Retrofit Electric Vehicle Powertrain Market Size
The surge in electric vehicle demand is anticipated to drive the expansion of the automotive retrofit electric vehicle powertrain market. Electric vehicles are those which operate on electricity supplied by a battery that can be charged from an external source. Automotive retrofit electric vehicle powertrains are used to fuel these vehicles, eliminating the necessity for an internal combustion engine. This leads to lower maintenance and reduced noise pollution. Consequently, the rise in electric vehicle interest escalates the demand for automotive retrofit electric vehicle powertrains. For example, in November 2023, the US Energy Information Administration, a US-based governmental organization, reported that the proportion of battery-electric vehicles (BEVs) in new light-duty vehicle sales hit 17.7% in the third quarter of 2023. BEVs accounted for 16.0% of all new vehicle sales to date that year, an increase from 12.5% in 2022 and 9.0% in 2021, according to Wards Intelligence. Thus, the growing popularity of electric vehicles is propelling the automotive retrofit electric vehicle powertrain market.
Get Your Automotive Retrofit Electric Vehicle Powertrain Market Report Here:
https://www.thebusinessresearchcompany.com/report/automotive-retrofit-electric-vehicle-powertrain-global-market-report
What is the future CAGR of the automotive retrofit electric vehicle powertrain market, and how will it impact industry expansion?
In the past few years, there has been a significant increase in the size of the automotive retrofit electric vehicle powertrain market. It is projected to escalate from $68.73 billion in 2024 to $74.5 billion in 2025, experiencing a compound annual growth rate (CAGR) of 8.4%. The expansion during the historic period is a result of factors such as increased environmental consciousness, governmental incentives, a surge in fuel costs, growing interest of consumers, regulation enforcement, and developments in infrastructure.
Anticipated robust growth in the automotive retrofit electric vehicle powertrain sector will see the market value climb to $105.35 billion in 2029, experiencing a compound annual growth rate (CAGR) of 9.0%. This expected escalation during the forecast timeframe can be accounted to factors such as decrease in costs, worldwide electrification movements, stiff market competition, changing consumer choices, and initiatives aimed at creating smart cities. The forecast period will also witness a surge in demands for retrofit solutions, breakthroughs in battery technology, backing and incentives from regulations, innovative technology in powertrain components, growth in retrofit kits and solutions, as well as multiple partnerships and collaborations.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9530&type=smp
What are the most significant trends transforming the automotive retrofit electric vehicle powertrain market today?
Major companies in the automotive retrofit electric vehicle powertrain space are leveraging product innovations to reinforce their market position, a trend that is gaining traction. Notably, Starya Mobility, an electric vehicle firm in India, launched a uniquely designed ARAI-approved electric powertrain in January 2023. This powertrain, which comprises a 5.5kw proprietary PMSM motor & controller, transforms a gasoline-powered scooter into a fully electric vehicle and is resilient to diverse weather conditions. The powertrain serves as a replacement for internal combustion engines and gasoline tanks, furnishing the necessary propulsion for the vehicle to travel on the road.
Which key market segments comprise the automotive retrofit electric vehicle powertrain market and drive its revenue growth?
The automotive retrofit electric vehicle powertrain market covered in this report is segmented -
1) By Component Type: Inclusive Conversion Kit, Electric Motor, Battery, Controller, Charger, Other Components
2) By Vehicle Type: Two Wheelers, Passenger Vehicle, Commercial Vehicle
3) By Electric Vehicle Type: All Electric Vehicle Battery, Plug-In Hybrid Vehicle, Hybrid Vehicle
Subsegments:
1) By Inclusive Conversion Kit: Complete Conversion Kits, Customizable Kits
2) By Electric Motor: AC Motors, DC Motors
3) By Battery: Lithium-Ion Batteries, Lead-Acid Batteries, Solid-State Batteries
4) By Controller: Motor Controllers, Battery Management Systems (BMS)
5) By Charger: Onboard Chargers, Offboard Chargers
6) By Other Components: Thermal Management Systems, Transmission Components, Connectors And Wiring
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=9530
What regions are at the forefront of automotive retrofit electric vehicle powertrain market expansion?
Asia-Pacific was the largest region in the automotive retrofit electric vehicle powertrain market in 2024. The regions covered in the automotive retrofit electric vehicle powertrain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the automotive retrofit electric vehicle powertrain market?
Major companies operating in the automotive retrofit electric vehicle powertrain market include Robert Bosch GMbH, Mitsubishi Electric Coroporation, Magna International Inc., Altigreen Propulsion Labs - Engineering, Bharath Mobi, Hitachi Astemo Ltd., Delphi Technologies, Continental AG, EV Europe, Etrio, Folks Motor, Transition One, XL Fleet, Johnson Electric Holdings Ltd., ZeroLabs Automotive, SkyQuest Technology, ABB Ltd., BorgWarner, Cummins, Dana Incorporated, Eaton, GKN Automotive, Magneti Marelli, Mahle, Nexteer Automotive, Schaeffler, Valeo, ZF Friedrichshafen, Tesla Inc., BYD Company
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=9530&type=smp
What Is Covered In The Automotive Retrofit Electric Vehicle Powertrain Global Market Report?
• Market Size Forecast: Examine the automotive retrofit electric vehicle powertrain market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automotive retrofit electric vehicle powertrain market for a structured understanding.
• Key Players Overview: Analyze major players in the automotive retrofit electric vehicle powertrain market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive retrofit electric vehicle powertrain market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automotive retrofit electric vehicle powertrain market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive retrofit electric vehicle powertrain market.
• Industry Challenges: Identify potential risks and obstacles affecting the automotive retrofit electric vehicle powertrain market.
• Competitive Landscape: Review strategic developments in the automotive retrofit electric vehicle powertrain market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release A Deep Dive into Automotive Retrofit Electric Vehicle Powertrain Market 2025: Key Drivers, Growth Factors, and Projections 2025-2034 here
News-ID: 3889298 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Electric
Electrical Isolators Market 2023: Mitsubishi Electric, Orient Electric, Schneide …
The Electrical Isolators Market size (volume and value) and industry chain structure published by The Insight Partners through its high quality database which is a valuable source of guidance and direction for companies and individual interested in the industry.
An electrical isolator is a material in which electric current does not flow freely. The atoms of the insulator have tightly bound electrons which cannot readily move. Other materials, semiconductors and conductors…
Electric Motors for Electric Vehicle Market by Manufacturers: Hitachi Automotive …
Electric Motors for Electric Vehicle Market research report analyzes and studies the Electric Motors for Electric Vehicle Market's production, value, financial status, and capacity. It also provides information about market share and development plans during the projected period. Moreover, the Electric Motors for Electric Vehicle Market research report provides data about key manufacturers and focuses on the market competition landscape by analyzing the market by application, product type, and region.
Click…
Thermal Overload Relay Market 2021 Precise Outlook - ABB, Schneider Electric, Ea …
Global Thermal Overload Relay Market Size, Status and Forecast 2021
The Global Thermal Overload Relay Market report offers in-depth information and comprehensive analysis of the market. It provides a complete overview of the market with detailed insights on key aspects including the current market situation, potential size, volume, and dynamics of the market. This research report makes a thorough assessment of the COVID-19 pandemic and its impact on the current market…
Global Electric Motors for Electric Vehicles Market 2025 | MAHLE GmbH, Protean E …
Researchmoz added Most up-to-date research on "Global Electric Motors for Electric Vehicles Market Insights, Forecast to 2025" to its huge collection of research reports.
This report presents the worldwide Electric Motors for Electric Vehicles market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities…
Yokogawa Electric, General Electric Profiled in Smart Factory Solutions Market 2 …
Global Smart Factory Solutions Market which focuses on effective strategies of the business framework. It highlights the recent market trends stringent energy regulations and growing pressure to conform to energy efficiency. The research methods and tools used to analyze the studies are both primary and secondary research.
This market research report on analyzes the growth prospects for the key vendors operating in this market space including Siemens, ABB, Honeywell International, Yokogawa…
Global Quartz Heat Lamps Market 2017 : Indu Electric Gerber, Schneider Electric, …
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Quartz Heat Lamps market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are in…
