What Has Been the Progress and Growth of the Automotive Electric Drivetrain Components Market in Recent Years?
The automotive electric drivetrain components market has seen considerable growth due to a variety of factors.
•The market of automotive electric drivetrain components has witnessed substantial growth in the past few years. The market worth is expected to increase from $63.66 billion in 2024 to $79.63 billion in 2025, showcasing a Compound Annual Growth Rate (CAGR) of 25.1%.
Factors contributing to this historical growth include government regulations on emissions, consumer inclination towards eco-friendly vehicles, decrease in battery expenses, enhancement in power electronics, and investment in charging infrastructure.
What Can Be Expected from the Automotive Electric Drivetrain Components Market in the Coming Years?
The automotive electric drivetrain components market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for components of electric drivetrains in the automotive sector is anticipated to experience hypergrowth in the coming years. The market is forecasted to reach a valuation of $185.53 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 23.5%.
This potential surge over the prophecy period is credited to swift advancements in technology, regulatory mandates for vehicles with zero emissions, changes in battery chemistry, the auto industry's shift towards electrification, and a move towards e-mobility solutions. Key trends expected in this period include improved energy capacity in batteries, the application of vehicle-to-grid (v2g) technology, the rise of adaptive thermal management solutions, personalized user connectivity experience, and advanced vehicle-to-vehicle (v2v) communication.
What Are The Leading Drivers Of Growth In The Automotive Electric Drivetrain Components Market?
The rising demand for electric vehicles is projected to fuel the expansion of the automotive electric drivetrain components market. An electric vehicle represents any entirely electric, zero-emission vehicle possessing an internal electrical energy storage system, rechargeable via an external power source. The electric drivetrain parts in an electric vehicle transform electrical power into mechanical power to propel the vehicle's wheels. To illustrate, the U.S. Energy Information Administration reported in November 2023 that the percentage of battery-electric vehicles (BEVs) in new light-duty vehicle sales had risen to 17.7% in the third quarter of 2023. BEVs made up 16.0% of total new automotive sales this year, a significant increase from 12.5% in 2022, and 9.0% in 2021. Thus, the escalating adoption of battery electric vehicles is accelerating the growth of the automotive electric drivetrain components market.
How Are The Segments Defined Within The Global Automotive Electric Drivetrain Components Market?
The automotive electric drivetrain components market covered in this report is segmented –
1) By Components: Electric Drive Module, DC Or DC Converter, Battery Packs, Thermal System, DC Or AC Inverter, Power Distribution Module (PDM), Other Components
2) By Vehicle: Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)
3) By Sales Channel: Original Equipment Manufacturer (OEM), After market
Subsegments:
1) By Electric Drive Module: Integrated Electric Drive Systems, Electric Motor Assembly
2) By DC Or DC Converter: Step-Up Converters, Step-Down Converters
3) By Battery Packs: Lithium-Ion Battery Packs, Solid-State Battery Packs, Nickel-Metal Hydride (NiMH) Battery Packs
4) By Thermal System: Cooling Systems, Heating Systems, Thermal Management Components
5) By DC Or AC Inverter: Dc To AC Inverters, Multilevel Inverters, Grid-Tie Inverters
6) By Power Distribution Module (PDM): Battery Management Systems (BMS), Power Routing Modules
7) By Other Components: Electric Power Steering (Eps) Systems, Regenerative Braking Systems, Control Units And Software
Pre-Book The Automotive Electric Drivetrain Components Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are New Trends Expected To Influence The Growth Of The Automotive Electric Drivetrain Components Market?
The advancement of product innovation is becoming a notable trend in the automotive electric drivetrain components industry. Leading businesses in this sector are creating fresh and exciting products to secure their market standing. For example, Volkswagen, a German car manufacturer, introduced their enhanced electric vehicle drivetrain APP550 in April 2023. These advanced APP550 rear-wheel drive systems provide superior performance and heightened vehicle effectiveness. Additionally, enhancements to the heat management system enhance efficiency even more. This device has the capability to regulate its own temperature through the use of the transmission's gear wheels.
Who Are the Key Players in the Automotive Electric Drivetrain Components Market?
Major companies operating in the automotive electric drivetrain components market include:
• Volkswagen AG
• Robert Bosch GmbH
• Siemens AG
• Panasonic Corporation
• ZF Friedrichshafen AG
• Denso Corporation
• Continental AG
• Hyundai Mobis
• Magna International Inc.
• Aisin Seiki Co. Ltd
• Valeo SA
• Eaton Corporation PLC
• Hitachi Astemo Ltd.
• Parker Hannifin Corporation
• Schaeffler AG
• Nidec Corporation
• BorgWarner Inc.
• MAHLE GmbH
• Infineon Technologies AG
• Marelli Holdings Co. Ltd.
• Dana Incorporated
• Hexagon AB
• GKN Automotive Limited
• JATCO Ltd.
• Delphi Technologies
• The Johnson Electric Group
• AVL List Gmbh
• Univance Corporation
• Hofer Powertrain GmbH
What Is The Most Dominant Region In The Automotive Electric Drivetrain Components Market?
Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive electric drivetrain components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
