Leading Companies Fueling Innovation and Growth in the Automotive Retrofit Electric Vehicle Powertrain Market

The automotive retrofit electric vehicle powertrain market is gaining significant attention as the push for sustainable and eco-friendly transportation solutions intensifies. Innovations and supportive policies are driving the adoption of electric powertrains in existing vehicles, promising substantial growth over the coming years. Here's an in-depth look at the market's size, key players, trends, and segmentation.

Projected Market Size and Growth of the Automotive Retrofit Electric Vehicle Powertrain Market
The market for automotive retrofit electric vehicle powertrains is expected to expand substantially, reaching a valuation of $110.99 billion by 2030. This growth represents a compound annual growth rate (CAGR) of 8.6% during the forecast period. The market expansion is supported by several factors such as incentives for EV retrofitting, the rise of circular mobility concepts, declining battery costs, urban policies enforcing zero emission mandates, and the standardization of conversion kits. Key trends shaping the market include the growing demand for EV conversions, increased availability of retrofit kits tailored for fleets, adoption in two and three-wheeled vehicles, modular powertrain architectures, and intensified efforts to control urban emissions.

Download a free sample of the automotive retrofit electric vehicle powertrain market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9530&type=smp

Leading Players Driving the Automotive Retrofit Electric Vehicle Powertrain Market
Several prominent companies are actively shaping the automotive retrofit electric vehicle powertrain space. These include Altigreen Propulsion Labs, Transition One, XL Fleet, ZeroLabs Automotive, EV West, Electric GT, New Electric, Fellten, Retro EV, Phoenix EV, SEA Electric, Etrio, Folks Motor, Bharath Mobi, EV Dynamics, Electric Classic Cars, Everrati Automotive, Lunaz Design, REV Mobilities, and Hyundai New Horizons Studio. A notable industry development occurred in August 2023 when US-based TREMEC Corporation acquired Electric GT LLC. Although financial details were not disclosed, this strategic move aims to integrate Electric GT's cutting-edge electric drive systems into TREMEC's portfolio, strengthening their foothold in the evolving EV market. Electric GT LLC is known for supplying advanced EV powertrain systems and components across the United States.

Emerging Trends in the Automotive Retrofit Electric Vehicle Powertrain Market
Industry leaders are focusing on advancing smart controller systems that enhance the performance and energy efficiency of electric vehicles. These intelligent electronic control units optimize motor operation, power distribution, and overall vehicle safety. For example, in January 2023, Indian EV company Starya Mobility launched an ARAI-approved electric powertrain featuring a proprietary 5.5 kW PMSM motor and controller. This innovative solution enables the conversion of petrol scooters to fully electric models capable of enduring diverse climatic conditions. By replacing internal combustion engines and fuel tanks with electric powertrains, these retrofits provide effective and eco-friendly propulsion for road vehicles.

View the full automotive retrofit electric vehicle powertrain market report:
https://www.thebusinessresearchcompany.com/report/automotive-retrofit-electric-vehicle-powertrain-global-market-report

Breakdown of Segments in the Automotive Retrofit Electric Vehicle Powertrain Market
This market is divided into several core segments to capture its diversity:
1) Component Type: Inclusive Conversion Kit, Electric Motor, Battery, Controller, Charger, and Other Components
2) Vehicle Type: Two Wheelers, Passenger Vehicles, and Commercial Vehicles
3) Retrofit Powertrain Type: Battery Electric Vehicle (BEV) Retrofit and Plug-in Hybrid Electric Vehicle (PHEV) Retrofit

Further subcategories include:
- Inclusive Conversion Kits: Complete Kits and Customizable Kits
- Electric Motors: AC Motors and DC Motors
- Batteries: Lithium-Ion and Lithium Iron Phosphate (LFP) Battery Packs
- Controllers: Motor Controllers and Battery Management Systems (BMS)
- Chargers: Onboard Chargers and Fast-Charging Interfaces
- Other Components: Thermal Management Systems, Connectors, and Wiring

This detailed segmentation offers valuable insights into the evolving landscape of automotive retrofit electric vehicle powertrains, highlighting the diverse options available to meet various consumer and fleet needs.

Reach out to us:
The Business Research Company: https://www.thebusinessresearchcompany.com/,
Americas +1 310-496-7795,
Europe +44 7882 955267,
Asia & Others +44 7882 955267 & +91 8897263534,
Email us at info@tbrc.info.

Follow 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

Learn More About The Business Research Company
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.