Global Automotive Electric Drivetrain Components Market Analysis 2024, Forecast To 2033
8 Mar, 2024
The automotive electric drivetrain components market has demonstrated exponential growth, rising from $51.11 billion in 2023 to $64.43 billion in 2024, with a CAGR of 26.1%. This growth is attributed to government regulations on emissions. The market is forecasted to reach $150.81 billion in 2028, with a CAGR of 23.7%, driven by technological advancements. Major trends include enhanced energy density and vehicle-to-grid technology.
Global Automotive Electric Drivetrain Components Market Key Driver
The automotive electric drivetrain components market is witnessing growth driven by the increasing adoption of electric vehicles worldwide. Electric vehicles utilize electric drivetrain components to convert electrical energy into mechanical energy for propulsion. With sales of electric vehicles doubling in 2021 and reaching 16.5 million globally, as reported by the International Energy Agency, the demand for automotive electric drivetrain components is expected to rise, fueled by the growing preference for zero-emission vehicles.
Get A Free Sample Of The Global Automotive Electric Drivetrain Components Market ReportGlobal Automotive Electric Drivetrain Components Market Segments
The automotive electric drivetrain components market covered in this report is segmented –
1) Components:Electric Drive Module, DC or DC Converter, Battery Packs, Thermal System, DC or AC Inverter, Power Distribution Module (PDM), Other Components
2) Vehicle:Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)
3) Sales Channel:Original Equipment Manufacturer (OEM), Aftermarket
By Geography: The countries covered in the automotive electric drivetrain components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive electric drivetrain components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Automotive Electric Drivetrain Components Industry Players
Volkswagen AG; Robert Bosch GmbH; Siemens AG; Panasonic Corporation; ZF Friedrichshafen AG; Denso Corporation; Continental AG; Hyundai Mobis; Magna International Inc.; Aisin Seiki Co. Ltd; Valeo SA; Eaton Corporation PLC; Hitachi Astemo Ltd.; Parker Hannifin Corporation; Schaeffler AG; Schaeffler Technologies AG & Co. KG; Nidec Corporation; BorgWarner Inc.; MAHLE GmbH; Infineon Technologies AG; Marelli Holdings Co. Ltd.; Dana Incorporated; Hexagon AB; GKN Automotive Limited; JATCO Ltd.; Delphi Technologies; The Johnson Electric Group; AVL List Gmbh; Univance Corporation; Hofer Powertrain GmbH.
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Automotive Electric Drivetrain Components Market Overview
Automotive electric drivetrain components refer to the element that allows electrical power to be converted and delivered to drive a vehicle's wheels. It controls the electric motor and is a critical component in electric cars as it determines driving behavior.