2025-2034 Electric Powertrain Market Evolution: Disruptions, Innovations, and Untapped Opportunities

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What Is the Expected CAGR for the Electric Powertrain Market Through 2025?
The size of the electric powertrain market has seen immense growth in the past few years. It is projected to rise from $135.91 billion in 2024 to an impressive $181.68 billion by 2025 with a compound annual growth rate (CAGR) of 33.7%. Factors such as technologic advancements and research, a gradual pivot in the automotive industry, developments in infrastructure, and increasing consumer demand for eco-friendly transport have contributed significantly to this historic growth.

What's the Projected Size of the Global Electric Powertrain Market by 2029?
Projected to undergo significant expansion in the coming years, the electric powertrain market is anticipated to surge to a size of $544.56 billion by 2029, maintaining a Compound Annual Growth Rate (CAGR) of 31.6%. Rapid urbanization and the drive towards smart cities, heightened environmental consciousness and sustainability targets, cost-cutting measures and economies of scale, consumer receptivity and demand, and the growth of the charging infrastructure are all contributing factors to this growth during the forecast period. The period is also expected to witness trends such as novel product advancements, dedication from automakers towards electrification, infrastructure evolution, and progression in battery technology.

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Top Growth Drivers in the Electric Powertrain Industry: What's Accelerating the Market?
The electric powertrain market is poised for progression due to the growing demand for electric vehicles. Electric vehicles entail a motor that operates on the electricity contained within batteries. A focus on COVID-19 defense alongside the goal of reaching net-zero emissions has promptly led to the adoption of EV and hybrid vehicles. This surge in electric vehicle demand has resulted in an amplified production and need for electric powertrains which facilitate EV operation by replacing conventional combustion engines. The International Energy Agency, an intergovernmental organization based in France, noted that electric vehicle sales stood at 10 million in 2022 but projected a jump to 14 million in 2023. Thus, the escalating demand for electric vehicles is set to boost the electric powertrain market.

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What Trends Will Shape the Electric Powertrain Market Through 2029 and Beyond?
Principal firms active in the electric powertrain market are making strides in plant innovation, aiming to boost production and fulfill increasing demands for electric vehicles. An example of this was in September 2023, when the Italy-based company, TEXA S.p.A, which is known for providing electronic diagnostic equipment for automobiles, inaugurated the e-Powertrain plant in Monastier di Treviso, thereby entering the electric mobility sector in a formidable way. The plant, which represents an investment exceeding $28.3 million (20 million Euros) and occupies a space of 24,000 square meters, is intended to enhance TEXA S.p.A's ability to manufacture high-end parts for electric vehicles, such as inverters and vehicle control units. Additionally, the plant will be dedicated to creating axial-flux electric powertrains and systems to convert direct current into alternating current.

What Are the Main 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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Which Top Companies are Driving Growth in the Electric Powertrain Market?
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

Which Regions Will Dominate the Electric Powertrain Market Through 2029?
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.

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