Electric Powertrain Market Size Forecasted To Achieve $544.56 Billion By 2029 With Steady Growth

The Electric Powertrain Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Electric Powertrain Market Size and Projected Growth Rate?
The market size for electric powertrains has seen substantial expansion lately. The projected growth is from the valuation of $135.91 billion in 2024, increasing to $181.68 billion in 2025, displaying a compound annual growth rate (CAGR) of 33.7%. The historical period's growth can be traced back to factors such as technological innovations, shift in the automotive sector, infrastructure advancements, and the consumers' growing inclination towards eco-friendly mobility.

In the coming years, the market size of the electric powertrain is predicted to undergo a significant surge, increasing to a staggering $544.56 billion in 2029, with a compound annual growth rate (CAGR) of 31.6%. The projected growth within this period can be associated with factors such as swift urban expansion and the implementation of intelligent city programs, growing environmental consciousness and the urge to achieve sustainability, economies of scale and cost cut-downs, consumer acceptance and increasing demand, as well as widening charging infrastructure. Notable trends that will dominate in this forecast period consist of product innovation, dedication of car manufacturers to electrification, development of infrastructure, and enhancement in battery technology.

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What Are the Major Segments in the Electric Powertrain Market?
The electric powertrain market covered in this report is segmented -

1) By Vehicle: Hybrid And Plug-In Hybrid Vehicle (HEV Or PHEV), Battery Electric Vehicle (BEV), 48V Mild Hybrid Vehicle (MHEV)
2) By HEV/PHEV Powertrain Component: Motor Or Generator, HV Battery, 12V Battery, Battery Management System, Controller, DC Or AC Inverter, DC Or DC Converter, Power Distribution Module, Idle Start-Stop, On-Board Charger
3) By Component: Motor, Battery, Power Electronics Component
4) By Vehicle Types: Passenger Cars, Commercial Vehicles

Subsegments:
1) By Hybrid And Plug-In Hybrid Vehicle (HEV Or PHEV): Full Hybrid Vehicles (HEV), Plug-In Hybrid Vehicles (PHEV)
2) By Battery Electric Vehicle (BEV): Compact BEVs, Mid-Size BEVs, Luxury BEVs, Commercial BEVs
3) By 48V Mild Hybrid Vehicle (MHEV): Mild Hybrid Cars, Mild Hybrid Commercial Vehicles

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What Are The Driving Electric Powertrain Market Evolution?
The rising interest in electric vehicles is anticipated to stimulate growth in the electric powertrain market. Electric vehicles are designed with motors that draw power from electricity preserved in batteries. Furthermore, due to COVID-19 prevention measures and goals to achieve net-zero emissions, EV and hybrid vehicles have become rapidly adopted. These factors have sparked a significant surge in the demand for electric vehicles, leading to higher production and need for electric powertrains that power EVs by eliminating the internal combustion engine. For example, the International Energy Agency, a France-based intergovernmental organization, reported that electric vehicle sales were 10 million in 2022, and are projected to rise to 14 million in 2023, demonstrating a significant increase. Thus, the growing demand for electric vehicles is expected to elevate the market demand for electric powertrains.

Which Firms Dominate The Electric Powertrain Market Segments?
Major companies operating in the electric powertrain market are Bosch Ltd., Mitsubishi Electric Corp., Magna International Inc., Hitachi Astemo Americas Inc., Schaeffler AG, Valeo, Nidec Corporation, Marelli Holdings Co Ltd., Panasonic Corporation, Brusa Elektronik AG, Cummins Inc., ZeroAvia Inc., Damon Motors Inc., eLeapPower Co. Ltd., Tesla Inc., General Motors, BYD Auto Co. Ltd., Volkswagen AG, SAIC-GM-Wuling Automobile, Stellantis N.V., Hyundai Motor Company, BMW AG, Zhejiang Geely Holding Group Co. Ltd., Renault-Nissan-Mitsubishi Alliance, GAC Motor, Chery Automobile Co. Ltd., Polestar, Changan Automobile Co. Ltd., Dongfeng Motor Corporation, Denso Corporation

What Trends Are Expected to Dominate the Electric Powertrain Market in the Next 5 Years?
Prominent businesses in the electric powertrain market are prioritizing plant innovation to expand their production capacity and fulfill the rising demand for electric vehicles. Specifically, in September 2023, TEXA S.p.A, a company from Italy which offers electronic diagnostic tools for vehicles, inaugurated its e-Powertrain plant in Monastier di Treviso, symbolizing a notable foray into the electric mobility industry. Over $28.3 million (20 million Euros) was invested into this facility, which occupies an area of 24,000 square meters, and aims to improve the firm's ability to manufacture advanced components for electric cars, such as inverters and vehicle control units. The plant is set to specialize in creating axial-flux electric powertrains and systems to convert direct current into alternating current.

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Which Is The Largest Region In The Electric Powertrain Market?
Europe was the largest region in the electric powertrain market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric powertrain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electric Powertrain Market?
2. What is the CAGR expected in the Electric Powertrain Market?
3. What Are the Key Innovations Transforming the Electric Powertrain Industry?
4. Which Region Is Leading the Electric Powertrain Market?

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