Press release
Automotive Retrofit Electric Vehicle Powertrain Market Analysis: $102.22 Billion by 2029 With a CAGR of 8.6%
Automotive Retrofit Electric Vehicle Powertrain Market
Automotive Retrofit Electric Vehicle Powertrain Market Value Projection: How Much Will the Market Size by 2025?
The market size for the automotive retrofit electric vehicle powertrain has seen a robust expansion in the past few years. It is anticipated to escalate from a size of $68.73 billion in 2024 to $73.48 billion in 2025, marking a compound annual growth rate (CAGR) of 6.9%. Factors such as heightened environmental consciousness, governmental inducements, augmented fuel costs, burgeoning consumer interest, increased regulatory demands, and developments in infrastructure have contributed to this historical period growth.
What Will Be the Market Growth Forecat for Automotive Retrofit Electric Vehicle Powertrain in 2029?
The market size of the automotive retrofit electric vehicle powertrain is predicted to witness robust expansion in the coming years, escalating to $102.22 billion in 2029 with a compound annual growth rate (CAGR) of 8.6%. Factors such as cost-cutting measures, global electrification projects, competitive market dynamics, customer inclinations, and smart city initiatives are expected to drive growth during the forecast period. Key trends for this duration include a rise in demand for retrofit solutions, progress in battery technology, regulatory backing and incentives, technological transformation in powertrain elements, expansion in retrofit kits and solutions, along with partnerships and collaborations.
Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/automotive-retrofit-electric-vehicle-powertrain-global-market-report
What Are the Core Competitive Drivers in the Automotive Retrofit Electric Vehicle Powertrain Industry?
The rise in the popularity of electric vehicles is anticipated to spur the growth of the market for automotive retrofit electric vehicle powertrain. This powertrain, which powers electric cars by eliminating the need for an internal combustion engine, offers reduced maintenance costs and minimal noise pollution. Thus, the demand for electric vehicles directly influences the demand for automotive retrofit electric vehicle powertrain. For example, the U.S. Energy Information Administration reported in November 2023 that the proportion of battery-electric vehicles in new light-duty vehicle sales hit 17.7% in Q3 2023. Battery-electric vehicles constituted 16.0% of the total new vehicle sales for the year, an increase from 12.5% in 2022 and 9.0% in 2021, according to Wards Intelligence. Consequently, it is the growing popularity of electric vehicles that is fueling the growth in the market for automotive retrofit electric vehicle powertrain.
Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9530&type=smp
Which Automotive Retrofit Electric Vehicle Powertrain Market Segment Is Projected to See the Fastest 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
Which Trends Are Opening New Opportunities in the Automotive Retrofit Electric Vehicle Powertrain Market?
A significant trend on the rise within the automotive retrofit electric vehicle powertrain industry is product innovation. Main players in the market are prioritizing the development of novel solutions in order to solidify their market position. For instance, in January 2023, the Indian-based electric vehicle company, Starya Mobility, rolled out a uniquely constructed ARAI-approved electric powertrain. This includes a 5.5kw proprietary PMSM motor & controller, which takes a petrol scooter and transforms it into a purely electric vehicle, capable of maintaining performance across different weather conditions. Traditional components like internal combustion engines and fuel tanks are replaced by the electric powertrain, which supplies the requisite power for the vehicle to operate on the road.
Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=9530&type=smp
Who Are the Leaders 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
Which Regional Automotive Retrofit Electric Vehicle Powertrain Markets Offer the Greatest Growth Potential?
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
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
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@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 Automotive Retrofit Electric Vehicle Powertrain Market Analysis: $102.22 Billion by 2029 With a CAGR of 8.6% here
News-ID: 4172966 • Views: …
More Releases from The Business Research Company
Segment Evaluation and Major Growth Areas in the Personalized Testing and Supple …
The personalized testing and supplements sector is gaining remarkable traction, driven by advancements in technology and a rising consumer focus on tailored health solutions. As more individuals seek customized wellness options, this market is set to experience substantial expansion in the coming years. Here's an in-depth look at its current valuation, key players, significant trends, and the main market segments shaping its future.
Market Valuation and Expansion Forecast for Personalized Testing…
Top Players and Market Competition in the Skin Microbiome Industry
The skin microbiome market is emerging as a significant area of interest due to growing awareness about the critical role of skin health and innovative skincare technologies. As research advances and consumer preferences shift towards more natural and science-backed products, this market is set to undergo substantial growth. Let's explore the current market size, key players, driving factors, and upcoming trends shaping the skin microbiome industry.
Projected Expansion in the Skin…
Key Strategic Developments and Emerging Changes Shaping the Upadacitinib Market …
The upadacitinib market is poised for significant expansion over the coming years, driven by advances in treatment options and increasing awareness of autoimmune diseases. This report delves into the market's current size, key drivers, major players, and the emerging trends shaping its future trajectory.
Steady Growth Expected in Upadacitinib Market Size Through 2029
The market for upadacitinib is projected to reach $2.54 billion by 2029, growing at a robust compound annual…
Analysis of Key Market Segments Driving the Alzheimer's Disease Diagnostic Marke …
The Alzheimer's disease diagnostic sector is rapidly evolving as advancements in technology and healthcare infrastructure open new possibilities for early detection and personalized treatment. With rising awareness and innovative approaches, this market is poised for significant growth in the coming years. Let's explore the current market size, key drivers, leading companies, and emerging trends that are shaping this critical healthcare field.
Projected Market Size and Growth Trends in Alzheimer's Disease Diagnostics…
More Releases for Vehicle
Transformative Trends Impacting the Vehicle-to-Vehicle (V2V) Communication Marke …
Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.
How Large Will the Vehicle-to-Vehicle (V2V) Communication Market Size By 2025?
The size of the vehicle-to-vehicle (V2V) communication market has seen significant expansion in the most recent years. The market is projected to surge from $24.28 billion in 2024 to $27.1 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 11.6%. The…
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to the report published by Allied Market Research, the global electric vehicle motor market generated $5.5 billion in 2021, and is estimated to reach $34.4 billion by 2031, witnessing a CAGR of 20.3% from 2022 to 2031.
Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the growth of the Asia-Pacific market. Moreover, various technological…
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
According to a recent report published by Allied Market Research, titled,"Truck Platooning Market by Technology, Platooning Type, and Communication Technology: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global truck platooning market size was valued at $500.9 million in 2017, and is projected to reach $4,590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025.
To Explore More, Download Sample Report: https://www.alliedmarketresearch.com/request-sample/5245
Global truck platooning market is segmented…
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to a new report published by Allied Market Research, titled, "Electric Vehicle Motor Market," The global electric vehicle motor market was valued at $5.5 billion in 2021, and is projected to reach $34.4 billion by 2031, growing at a CAGR of 20.3% from 2022 to 2031.
Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the…
Electric Vehicle Power Inverter Market : Hybrid Vehicle, Plug in Hybrid Vehicle, …
The electric vehicle power inverter market was valued at $8.67 billion in 2021, and is estimated to reach $22.25 billion by 2031, growing at a CAGR of 10.4% from 2022 to 2031.
Download Sample Report at https://www.alliedmarketresearch.com/request-sample/9122
Factors that drive the growth of the electric vehicle power inverter market are increase in demand for electric vehicles, proactive government initiatives for the development of electric vehicle, and surge in demand for low-emission and…
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
The global truck platooning market size was valued at $500.9 million in 2017 and is projected to reach $4590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025 by Technology (Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Global Positioning System (GPS), Forward Collision Warning (FCW), Lane Keep Assist (LKA), and Others), Platooning type (Driver-Assistive Tuck Platooning (DATP) and Autonomous Truck Platooning), and Communication Technology (Vehicle-to-infrastructure (V2I),…
