Electric Powertrain Market Analysis

Electric Powertrain Market Analysis

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In terms of component, the EV thermal system segment is anticipated to reach USD 4 billion by 2030, credited to high surrounding temperatures, EV batteries require thermal systems, refrigerant circuits, and chillers to extend their service life. The increased requirement for maintaining the efficiency of complex electric powertrains will therefore foster the demand for EV thermal systems.
 

In terms of the vehicle, the electric powertrain market value from the FCEV segment is poised to exhibit more than 33.5% gains through 2030. Hydrogen has emerged as an efficient and clean source of electricity for vehicles. As a fuel, it emits only heat and water as by-products. This characteristic allows it to have zero carbon dioxide emissions when used as a fuel source. These factors, alongside easier storage and transport of hydrogen will also promote the development of FCEV powertrains.
 

The OEM sales channel segment from electric powertrain market is predicted to witness 27% growth rate through 2030. The escalating production of electric cars and the high emphasis on curbing carbon emissions are some of the major factors driving this growth. A considerable rise in battery-electric vehicle registrations has been witnessed worldwide. Moreover, despite restrictions to EV production during the COVID-19 crisis, the development of new energy vehicles (NEVs) is increasing steadily, which may impact electric powertrain sales through OEM channels. OEMs offer benefits such as faster response to demand, reliable quality & warranty, and timely support to customers.
 

Asia Pacific electric powertrain market revenue is slated to cross USD 120 billion by 2030. The mounting EV production is a key reason behind the development of e-powertrains across the region. In 2021, EV production was registered at more than 1.36 million units in China. Many APAC countries are also focusing on electrification in the transport sector. For example, the Indian government is planning to increase the number of on-road EVs in major cities to reduce carbon emissions and decrease reliance on oil imports. Governments in the region are investing a substantial amount on the deployment of electric buses to cut down carbon emissions from the public transportation sector.