Overview and Scope
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.
Sizing and Forecast
The automotive electric drivetrain components market size has grown exponentially in recent years. It will grow from $51.11 billion in 2023 to $64.43 billion in 2024 at a compound annual growth rate (CAGR) of 26.1%. The growth in the historic period can be attributed to government regulations on emissions, consumer demand for sustainable vehicles, reduction in battery costs, improvements in power electronics, investments in charging infrastructure.
The automotive electric drivetrain components market size is expected to see exponential growth in the next few years. It will grow to $150.81 billion in 2028 at a compound annual growth rate (CAGR) of 23.7%. The growth in the forecast period can be attributed to rapid technological advancements, regulatory push for zero-emission vehicles, evolution in battery chemistries, automotive industry focus on electrification, shift towards e-mobility solutions. Major trends in the forecast period include enhanced energy density in batteries, integrated vehicle-to-grid (v2g) technology, adaptive thermal management solutions, personalized user experience and connectivity, enhanced vehicle-to-vehicle (v2v) communication.
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Segmentation & Regional Insights
The automotive electric drivetrain components market covered in this report is segmented –
1) By Components: Electric Drive Module, DC or DC Converter, Battery Packs, Thermal System, DC or AC Inverter, Power Distribution Module (PDM), Other Components
2) By Vehicle: Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)
3) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
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
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Major Driver Impacting Market Growth
The increasing adoption of electric vehicles is expected to propel the growth of the automotive electric drivetrain components market going forward. An electric vehicle is any completely electric, zero-emission vehicle with an onboard electrical energy storage system that can be recharged using an external energy source. The electric drivetrain components in an electric car transform electrical energy into mechanical energy to drive the vehicle’s wheels. For instance, in May 2022, according to the International Energy Agency, a Paris-based autonomous intergovernmental organization, sales of electric vehicles doubled in 2021 to set a record of 6.6 million, and the number of electric cars on the world’s roads by the end of 2021 was about 16.5 million. Therefore, the increasing adoption of battery electric vehicles is driving the growth of the automotive electric drivetrain components market.
Key Industry Players
Major companies operating in the automotive electric drivetrain components market report are 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.
The automotive electric drivetrain components market report table of contents includes:
1. Executive Summary
2. Automotive Electric Drivetrain Components Market Characteristics
3. Automotive Electric Drivetrain Components Market Trends And Strategies
4. Automotive Electric Drivetrain Components Market – Macro Economic Scenario
5. Global Automotive Electric Drivetrain Components Market Size and Growth
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32. Global Automotive Electric Drivetrain Components Market Competitive Benchmarking
33. Global Automotive Electric Drivetrain Components Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Electric Drivetrain Components Market
35. Automotive Electric Drivetrain Components Market Future Outlook and Potential Analysis
36. Appendix
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