The Global Electric Powertrain Market size is projected to reach USD 191.4 billion by 2027 from an estimated USD 62.9 billion in 2019, at a CAGR of 14.9%. Attractive incentives by governments for mass adoption and domestic production of electric vehicles, increasing demand for electric vehicles, and stringency in will drive the electric powertrain market.

Asia Pacific and North America are the regions where the electric powertrain market is experiencing the highest growth rate due to increasing government regulations on emission norms, allocations of funds by the respective governments for incentivizing sales of electric vehicles, and developments in powertrain components such as lithium-ion batteries, battery management systems, and motors. Furthermore, continuous R&D and collaborations among automotive companies in these regions are expected to stimulate market growth.

The global electric powertrain market is dominated by major players such as Bosch (Germany), Mitsubishi Electric (Japan), Magna (Canada), Continental AG (Germany), and Hitachi (Japan). These companies have strong distribution networks at a global level and offer an extensive product range. These companies adopt strategies such as new product developments, collaborations, and contracts & agreements to sustain their market position.

–The Electric Powertrain market research report
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