Do electric vehicles have powertrains?

The EV powertrain market accounted to US$ 30,095.5 Mn in 2018 and is expected to grow at a CAGR of 12.0% during the forecast period 2019 – 2027, to account to US$ 82,382.3 Mn by 2027.

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Geographically, the EV powertrain market is segmented into North America, APAC, Europe, and Rest of World. Asia-Pacific led the EV powertrain market in 2018 with a significant market share, and is also anticipated to be the fastest growing region during the forecast period of 2019 to 2027. Following by Europe which has some well-developed countries, and the region has a strong automotive sector which is expected to drive the growth of the EV powertrain market in the region.

The List of Companies - EV Powertrain Market

1. Continental AG
2. Robert Bosch GmbH
3. Cummins, Inc.
4. Maxim Integrated Products, Inc.
5. Magna International Inc.
6. Tata Elxsi
7. Dana Limited
8. Valeo SA
9. Mahle GmbH
10. ZF Friedrichshafen AG

Whereas in North America the OEMs and technology providers continually invest significant amounts in the development of robust solutions, which is attracting vehicular customers. China is the largest EV manufacturing country, and the adoption rate of EVs is highest worldwide, several international EV manufacturers are investing in the country and are expanding their production units to the country. For instance, Tesla is investing US$ 2.0 Bn in a new factory in Shanghai, China, for the production of the Model 3 sedan and future vehicles. Volkswagen has also adopted a similar strategy to capitalize more than US$ 10 Bn in China for over six years.

Europe is the second-largest market in the EV powertrain market. North America remains the third-largest geographic segment in the EV powertrain market. In North America, growing popularity of electric vehicles, strong automotive industry in countries such as the US and Canada, and presence of a large number of EV powertrain providers are some of the major factors that are expected to support the growth of EV powertrain market in the region.