Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Electric Powertrain Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
How Will the Electric Powertrain Market Grow Between 2024 and 2025?
The market size for the electric powertrain has seen significant growth recently. It is projected to expand from a size of $135.91 billion in 2024, to reach $179.78 billion in 2025. This represents a compound annual growth rate (CAGR) of 32.3%.
How Much Will the Electric Powertrain Market Be Worth in 2029?
The Electric Powertrain Global Market is anticipated to expand to a size of $531.49 billion by 2029. This growth represents a compound annual growth rate (CAGR) of 31.1%.
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Which Electric Powertrain Market Drivers Are Linked to Revenue Growth?
The key drivers in the electric powertrain market are:
• Rapid urbanization and implementation of smart city initiatives
• Rising environmental awareness and sustainability goals
• Cost reductions and economies of scale in the industry
• Growing consumer acceptance and demand for electric vehicles, along with expanding charging infrastructure.
Which Segments Are Expected to Grow in the Electric Powertrain Market?
The electric powertrain market covered in this report is segmented –
1) By Vehicle: Hybrid And Plug-In Hybrid Vehicle (HEV Or PHEV), Battery Electric Vehicle (BEV), 48V Mild Hybrid Vehicle (MHEV)
2) By HEV/PHEV Powertrain Component: Motor Or Generator, HV Battery, 12V Battery, Battery Management System, Controller, DC Or AC Inverter, DC Or DC Converter, Power Distribution Module, Idle Start-Stop, On-Board Charger
3) By Component: Motor, Battery, Power Electronics Component
4) By Vehicle Types: Passenger Cars, Commercial Vehicles
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What Are The Key Trends Impacting Growth In The Global Electric Powertrain Market?
The key trends in the electric powertrain market are:
• There is an emerging trend of innovative product development in the electric powertrain market.
• A significant trend shaping the future of the market is increased commitment towards electrification by automakers.
• The development of charging infrastructure is also a significant upcoming trend in this market.
• Advancements in battery technology are also increasingly influencing the future of the electric powertrain market.
Who Are the Key Competitors in the Global Electric Powertrain Market?
Major players in the electric powertrain market are:
• Bosch Ltd.
• Mitsubishi Electric Corp.
• Magna International Inc.
• Hitachi Astemo Americas Inc.
• Schaeffler AG
• Valeo
• Nidec Corporation
• Marelli Holdings Co Ltd.
• Panasonic Corporation
• Brusa Elektronik AG
• Cummins Inc.
• ZeroAvia Inc.
• Damon Motors Inc.
• eLeapPower Co. Ltd.
• Tesla Inc.
• General Motors
• BYD Auto Co. Ltd.
• Volkswagen AG
• SAIC-GM-Wuling Automobile
• Stellantis N.V.
• Hyundai Motor Company
• BMW AG
• Zhejiang Geely Holding Group Co. Ltd.
• Renault–Nissan–Mitsubishi Alliance
• GAC Motor
• Chery Automobile Co. Ltd.
• Polestar
• Changan Automobile Co. Ltd.
• Dongfeng Motor Corporation
• Denso Corporation
Where Is the Electric Powertrain Market Growing Fastest Between 2025 and 2029?
Europe was the largest region in the electric powertrain market in 2024
