Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Automotive Retrofit Electric Vehicle Powertrain Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Are the Key Forecast Insights for the Automotive Retrofit Electric Vehicle Powertrain Market Growth?
The historical growth trend in the Automotive Retrofit Electric Vehicle Powertrain Global Market Report 2025 suggests a significant increase in the market size, which is expected to rise from $68.73 billion in 2024 to $73.48 billion in 2025. The compound annual growth rate (CAGR) during this period is projected to be 6.9%.
What Is the Predicted Industry Size and CAGR of the Automotive Retrofit Electric Vehicle Powertrain Market in 2029?
The automotive retrofit electric vehicle powertrain market is predicted to reach a size of $102.22 billion in 2029, growing at a compound annual growth rate (CAGR) of 8.6%.
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Which Factors Are Driving Growth in the Automotive Retrofit Electric Vehicle Powertrain Market?
The key drivers in the automotive retrofit electric vehicle powertrain market are:
• Global initiatives towards electrification
• Market competition leading to cost reductions
• Evolution in consumer preferences favoring electric vehicles
• Advancements in powertrain component technology
Which Segment Trends Are Covered in the Automotive Retrofit Electric Vehicle Powertrain Market Forecast?
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
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What Are the Current Market Trends in the Automotive Retrofit Electric Vehicle Powertrain Industry?
The key trends in the automotive retrofit electric vehicle powertrain market are:
• A growing demand for retrofit solutions is a major emerging trend.
• Advancements in battery technology are increasingly influencing the market.
• The market is expected to be shaped by regulatory support and incentives.
• There is an emerging trend of technological advancements in powertrain components, retrofit kits, and solutions expansion, as well as increased partnerships and collaborations.
Who are the Key Companies in the Automotive Retrofit Electric Vehicle Powertrain Market?
Major players in the automotive retrofit electric vehicle powertrain market are:
• Robert Bosch GMbH
• Mitsubishi Electric Corporation
• 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
What are the Regional Trends Across the Automotive Retrofit Electric Vehicle Powertrain Market?
Asia-Pacific was the largest region in the automotive retrofit electric vehicle powertrain market in 2024
