According to a study published by Polaris Market Research, global electric powertrain market is expected to grow from USD 38 billion in 2017 to USD 568.6 billion by 2026, at a CAGR of 35.1% during the forecast period.
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Polaris Market Research’s new report ‘Electric Powertrain Market [By Powertrain Type (Battery Electric Vehicle (BEV), Mild Hybrid, Series Hybrid, Parallel Hybrid, Series-Parallel Hybrid), By Vehicle Type (Light Vehicles, Cars, Light Trucks); By Regions (North America - U.S., Canada; Europe - Germany, UK, France, Rest of Europe; Asia-Pacific - China, India, Japan, Rest of Asia-Pacific; Latin America – Brazil, Mexico; Middle East & Africa)]: Market size & Forecast, 2018 – 2026’ indicates that the global electric powertrain market generated USD 38 billion in 2017 and is anticipated to grow at a CAGR of 35.1% during the forecast period.
The trend towards a shift from conventional induction combustion engines to electric vehicles as an effort for developing a sustainable future will increase traction for electric powertrain market in the near future. The environmentally minded automotive technologies are anticipated to shift from the conventional gasoline engines and evolve towards electric powertrain technologies/systems making use of inverters and electric motors such as plug-in hybrids, hybrid electric, fuel cell electric and electric vehicles.
BEV powertrains are the most widely used product types in the present industry scenario.
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These are powered completely on electric energy, typically a big electric motor and a large battery pack. The mild hybrid electric powertrains are the least electrified type of hybrid electric powertrains.
MHE powertrains are considered as conventional combustion engine fitted with an outsized starter motor which is also used as generator that is typically an integrated starter generator or belted alternator starter (BAS), and oversized battery that powers the vehicle and is recharged by the motor.
Regardless of the benefits of the e-powertrains, electrification has been noticeably slower than anticipated owing to several technological issues, policies and market restraints. Successful technological developments and modifications especially including the lithium based battery technology have overcome most of the technological challenges.
In the automotive industry, carbon dioxide regulations are especially being overhauled in the U.S., Japan, China, and the European countries, accelerating electric vehicle technology developments to reduce future carbon emissions. Moreover, consumers are getting increasingly vulnerable to the increasing oil prices and are being attracted towards the green technologies.
All these factors are pushing the growth of the electric powertrain market.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Electric Powertrain Market, 2018-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA.
North America is further segmented into U.S., Canada; Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
Asia is the most popular region for the growth of electronic vehicles which is one of the major factor for the growing demand of electric powertrains, with China as the most significant global player. Other Asian countries such as South Korea and Japan along with China have been major battery providers.
Increase demand from India for the electric vehicles has also contributed towards the growth of this regional market.
However, the global industry is also subjected to some restraints such as high product price. Electric vehicles are highly priced and are not affordable by each consumer, especially in the countries with lower economic growth.
Moreover, the maintenance of the electric bikes is costly and requires frequent charging and changing of batteries. Some battery related issues also include lead emissions from few batteries and the energy storage systems.
Competitive Landscape and Key Vendors
Some of the major industry players include AVL LIST GmbH, ARC CORE, ALTe Technologies, IET S.p.A., ATS Automation Tooling Systems Inc., EptDyn, TM4, Jayem Automotives, BMW Motorrad International, and AllCell Technologies LLC.
Browse Full Research Report with Table of Content at www.polarismarketresearch.com/indu…owertrain-Market/
- BEV powertrain
- Mild Hybrid Powertrain
- Series Hybrid Powertrain
- Parallel hybrid Powertrain
- Series-parallel Hybrid Powertrain
- Light Vehicles
- Light Vehicles
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