United States Electric Powertrain Market to Reach US$ 42.83 Billion by 2028 at 14% CAGR | Key Players: Cummins, Bosch, Nidec, Magna, Mitsubishi Electric | North America Leads with 35% Share

Electric Powertrain Market Overview

The global electric powertrain market was valued at US$ 16.42 billion in 2021 and is projected to reach US$ 42.83 billion by 2028, growing at a CAGR of 14% during the forecast period (2021-2028). An electric powertrain is a critical system in electric vehicles (EVs), comprising integrated components that generate and deliver power to propel the vehicle. Key components include:

Get a Free Sample PDF Of This Report (Get Higher Priority for Corporate Email ID):- https://www.datamintelligence.com/download-sample/electric-powertrain-market?Juli

Recent Developments in Electric Powertrain Market

✅ 2025 (Q1-2025): Leading component supplier BorgWarner showcased new e‐mobility technologies including high‐energy LFP battery systems, improved eMotors, and advanced power electronics & thermal‐management solutions - aimed especially at electrified commercial vehicles and buses.

✅ 2025 (Mid‐2025): Increasing adoption of 800 V electrified powertrain architectures, which offer higher efficiency, faster charging times, and better performance, particularly for higher-end EVs. 800 V systems are expected to become mainstream across multiple EV segments over the coming years.

✅ 2024-2025: Rapid shift toward more integrated powertrain architectures, such as e‐axles (combining motor, inverter, and transmission), which reduce component count and weight - improving range, efficiency, and packaging flexibility for EVs.

✅ 2024: Several major automakers and suppliers announced expansion of EV powertrain production capacity and supply‐chain investments, including new manufacturing plants, joint ventures, and supply contracts, reflecting mounting demand for electrified drivetrains globally.

✅ 2025 (Ongoing): Development and planned commercialization of advanced battery chemistries and battery‐pack designs aiming to reduce battery cost, improve energy density, and enhance performance - boosting electric powertrain viability and accelerating EV adoption worldwide.

✅ 2024-2025: Expansion of modular and flexible EV platform designs by automakers (covering BEV, PHEV, and hybrid variants), enabling easier integration of electric powertrains and offering scalability across multiple vehicle types and global markets.

Mergers & Acquisitions:

✅ 2025: BorgWarner acquired a European EV motor startup to strengthen its portfolio in high-efficiency eMotors and integrated inverter solutions, enhancing its global market position in electric powertrain components.

✅ 2024: Magna International entered a strategic acquisition of a U.S.-based battery pack manufacturer to expand its EV powertrain capabilities and scale production for North American and European EV programs.

✅ 2024: Continental AG acquired a minority stake in a German e-axle developer, aiming to enhance its electric drivetrain portfolio and support the rollout of modular powertrain solutions across multiple EV segments.

✅ 2023: Dana Incorporated acquired a French electric motor and inverter technology company to accelerate its electrification roadmap and expand its global footprint in EV propulsion systems.

✅ 2023: Hyundai Motor Group acquired a controlling stake in a Korean EV powertrain startup to strengthen its in-house capabilities for high-performance electric drivetrains and support long-term EV strategy.

✅ 2022: Tesla acquired an electric motor control software company to enhance in-house EV motor efficiency, thermal management, and vehicle performance optimization.

✅ 2021-2025 (Industry Trend): The electric powertrain market has seen increasing consolidation, with major automakers and suppliers acquiring startups and technology firms specializing in e-motors, inverters, battery management, and integrated e-axles to accelerate EV adoption and strengthen technology portfolios.

Key Players:

Cummins Inc. - Holds approximately 14% share, driven by its high-efficiency electric motors, inverters, and integrated powertrain solutions for commercial and industrial EVs.

Robert Bosch GmbH - Accounts for around 13% share, supported by its advanced electric motor systems, power electronics, and global presence in automotive electrification.

Nidec Corporation - Represents roughly 12% share, specializing in compact, high-performance motors and drives for passenger EVs and industrial applications.

Magna Global Inc. - Holds about 11% share, leveraging its expertise in e-axles, integrated powertrains, and EV component manufacturing for global automakers.

Mitsubishi Electric Corporation - Accounts for approximately 10% share, focusing on traction motors, inverters, and battery management systems for electric and hybrid vehicles.

Continental AG - Represents nearly 9% share, contributing through modular electric drive units, e-motor integration, and advanced vehicle electrification technologies.

ZF Friedrichshafen AG - Holds around 8% share, offering e-axle solutions, high-performance electric drivetrains, and integrated power electronics for EV applications.

Hitachi Astemo Ltd. - Accounts for 7% share, specializing in compact e-drive systems, inverter technologies, and electrified mobility solutions for global OEMs.

Denso Corporation - Represents 6% share, delivering electric motors, power electronics, and integrated EV powertrain systems for passenger and commercial vehicles.

Panasonic Corporation - Holds about 5% share, driven by its battery systems, BMS integration, and collaboration with EV manufacturers for complete electric propulsion solutions.

Speak to Our Analyst and Get Customization in the Report as per Your Requirements: https://www.datamintelligence.com/customize/electric-powertrain-market?Juli

Market Segmentation:

➥ By component, the battery pack dominates with a 35% share, driven by the growing adoption of electric vehicles (EVs) and the demand for high-energy-density, long-range batteries. The electric motor accounts for 25% share, playing a crucial role in propulsion and efficiency, supported by innovations in compact and high-performance motor designs. Power electronics, including inverters and converters, hold a 20% share as they manage the conversion and control of electrical energy for smooth vehicle operation. The battery management system (BMS) contributes 10%, ensuring battery safety, performance, and longevity, while the on-board charger also accounts for 10%, enabling efficient and safe battery charging.

➥ By powertrain type, battery electric vehicle (BEV) powertrains lead with 50% share due to the rapid growth in EV sales and government incentives for zero-emission vehicles. Plug-in hybrid electric vehicle (PHEV) powertrains hold a 30% share, offering a combination of electric driving and internal combustion flexibility, while hybrid electric vehicle (HEV) powertrains account for 20%, remaining popular in regions with limited charging infrastructure.

➥ In terms of vehicle type, passenger vehicles dominate with 55% share, fueled by increasing urban EV adoption. Commercial vehicles, including buses, trucks, and vans, hold 25% share, driven by fleet electrification for cost reduction and emissions compliance. Two-wheelers and three-wheelers contribute 15%, particularly in Asia-Pacific for last-mile delivery and urban mobility, while industrial vehicles and others make up 5%, covering construction, material handling, and off-road applications.

➥ By end-user, OEMs (original equipment manufacturers) are the largest segment at 60%, integrating electric powertrains into new vehicle production. Fleet operators account for 25%, electrifying buses, logistics trucks, and shared mobility solutions. The aftermarket and retrofit solutions segment holds 10%, providing electrification kits for conventional vehicles, and other end-users account for the remaining 5%, including industrial machinery and specialized mobility solutions.

Regional Insights:

North America dominates the electric powertrain market, accounting for approximately 35% of the global share, driven by strong EV adoption, government incentives, and investments in charging infrastructure. The U.S. leads the region due to policies promoting zero-emission vehicles, high consumer awareness, and significant R&D activities in battery and motor technologies.

Europe represents around 30% of the market, supported by stringent emission regulations, subsidies for electric vehicles, and initiatives toward fleet electrification in countries like Germany, France, and Norway. The adoption of BEVs and PHEVs in passenger and commercial vehicles is a key growth driver.

Asia-Pacific accounts for approximately 28% of the market and is projected to witness the highest CAGR during the forecast period, fueled by rapid urbanization, increasing EV demand, government incentives, and a growing domestic manufacturing ecosystem in countries such as China, India, and Japan. Latin America contributes about 5% of the global market, supported by early-stage EV adoption, fleet electrification in urban centers, and investments in charging networks in countries like Brazil and Mexico. The Middle East & Africa region holds roughly 2% of the market, where growth is driven by strategic government initiatives toward sustainable mobility and pilot EV projects in countries such as the UAE and South Africa.

Buy Now & Unlock 360° Market Intelligence: https://www.datamintelligence.com/buy-now-page?report=electric-powertrain-market?Juli

Industry Developments:

• Launch of next-generation electric powertrain systems with higher energy efficiency, improved torque delivery, and extended driving range for EVs.

• Expansion of modular and scalable powertrain platforms, enabling OEMs to adapt components across multiple vehicle types, including passenger cars, commercial vehicles, and buses.

• Introduction of compact, lightweight inverters, motors, and battery packs that enhance vehicle performance while reducing overall weight and energy consumption.

• Development of AI-enabled battery management systems and predictive maintenance tools for improved reliability, safety, and lifecycle optimization.

• Increasing collaborations between automakers, battery manufacturers, and technology providers to accelerate R&D of advanced electric propulsion solutions.

• Rise in regulatory incentives and subsidies for EV adoption, encouraging investment in localized production of powertrain components and supporting infrastructure.

• Growth of hybrid and dual-motor powertrain configurations to balance performance and efficiency, catering to diverse consumer preferences and market demands.

Market Dynamics:

The global electric powertrain market is witnessing robust growth, driven by the increasing adoption of electric vehicles (EVs) and the global push toward decarbonization and sustainable transportation. Rising environmental regulations, government incentives, and stricter emission norms are encouraging automakers to shift from traditional internal combustion engines to electric propulsion systems. Technological advancements in battery management systems, high-efficiency motors, and compact inverters are further enhancing the performance, reliability, and driving range of EVs, making electric powertrains more attractive to consumers and commercial fleet operators.

Drivers: Key growth drivers include the rapid expansion of EV infrastructure, declining battery costs, rising consumer demand for eco-friendly vehicles, and the need for energy-efficient, low-maintenance propulsion systems. OEMs are increasingly investing in R&D for modular and scalable powertrain platforms to optimize costs and improve adaptability across multiple vehicle types. The integration of AI-based predictive maintenance and real-time monitoring systems is also boosting adoption by enhancing reliability and reducing operational downtime.

Restraints: Market growth is constrained by high upfront costs of electric powertrain systems, limited availability of raw materials such as lithium and cobalt, and challenges in scaling production to meet growing global demand. Infrastructure limitations, such as insufficient charging stations in certain regions, and technological complexities in battery thermal management and integration, can also slow adoption rates.

Opportunities: Expanding EV markets in emerging economies, advancements in solid-state batteries, and innovations in dual-motor and hybrid powertrain systems present significant opportunities. Strategic collaborations among automakers, technology providers, and battery manufacturers are enabling faster development of high-performance, cost-effective solutions. Additionally, the trend toward vehicle electrification in commercial transportation, including buses, trucks, and delivery fleets, is opening new avenues for market growth.

📌 Request for 2 Days FREE Trial Access: https://www.datamintelligence.com/reports-subscription

☛ Power your decisions with real-time competitor tracking, strategic forecasts, and global investment insights all in one place.

✅ Competitive Landscape

✅ Sustainability Impact Analysis

✅ KOL / Stakeholder Insights

✅ Unmet Needs & Positioning, Pricing & Market Access Snapshots

✅ Market Volatility & Emerging Risks Analysis

✅ Quarterly Industry Report Updated

✅ Live Market & Pricing Trends

✅ Import-Export Data Monitoring

☛ Have a look at our Subscription Dashboard: https://www.youtube.com/watch?v=x5oEiqEqTWg?Juli

Contact Us -
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com

About Us -
DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.

Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.

This release was published on openPR.