Electric Powertrain Market Size, Share, Trends, Industry Analysis Report: By Product Type, Vehicle Type, and Region

Description

List of Tables

The electric powertrain market size is expected to reach USD 463.49 billion by 2034, according to a new study by Polaris Market Research. The report "Electric Powertrain Market Size, Share, Trends, Industry Analysis Report: By Product Type, Vehicle Type (Light Vehicles, Cars, and Light Trucks), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rising global fuel prices are prompting consumers and businesses to seek cost-effective alternatives to gasoline and diesel-powered vehicles. Electric vehicles featuring electric powertrains offer significantly lower operational costs due to lower electricity costs and fewer moving parts, which results in reduced maintenance needs. This financial advantage makes electric vehicles particularly appealing in regions where fuel prices are high or volatile. People are increasingly looking for ways to reduce transportation expenses, due to which the adoption of electric vehicles is rising, driving the electric powertrains market growth.

The electric powertrain market demand is growing rapidly due to the increase in electric vehicle sales. More consumers are choosing EVs as they offer lower operating costs, fewer maintenance requirements, and contribute to environmental sustainability. The rise in EV sales is also fueled by advancements in battery technology, which have improved energy efficiency and driving range, making EVs more attractive. Additionally, government incentives such as tax credits and rebates are encouraging the shift toward electric vehicles. This growing demand for EVs is driving the requirement for advanced electric powertrains, boosting the electric powertrain market expansion.

Major automotive manufacturers are increasingly investing in electric vehicle technology, signaling a shift from traditional combustion engines to electric powertrains. Many well-known carmakers are committing to launch a range of electric models, driven by consumer demand and stricter regulations. This industry-wide shift is fueling the electric powertrain market development.

Electric Powertrain Market Report Highlights

Based on product type, the BEV segment accounted for the largest share in 2024 due to the increasing demand for zero-emission vehicles and the global shift toward sustainable transportation.

The car segment, by vehicle type, dominated the electric powertrain market share in 2024 due to the growing emphasis on electrification by major car manufacturers.

In 2024, North America held the largest revenue share of the electric powertrain market revenue due to the increase in battery electric vehicle sales.

The market in Asia Pacific is experiencing significant growth in the global market due to strong government support for EVs.

A few global key market players are BorgWarner, Bosch Limited, Continental AG, Dana Tm4 Inc., Hitachi, Magneti Marelli Ck Holdings, Valeo, Nidec Corporation, ZF Friedrichshafen AG, Schaeffler AG, Mitsubishi Electric Corp., and Magna International Inc.

Polaris market research has segmented the electric powertrain market report based on product type, vehicle type, and region:

By Product Type (Revenue - USD Billion, 2020-2034)

§ BEV

§ Mild Hybrid

§ Series Hybrid

§ Parallel Hybrid

§ Series-Parallel Hybrid

By Vehicle Type (Revenue - USD Billion, 2020-2034)

§ Light Vehicles

§ Cars

§ Light Trucks

By Regional Outlook (Revenue - USD Billion, 2020-2034)

North America
US
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa

Product Code: PM1380

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. Global Electric Powertrain Market Insights

4.1. Electric Powertrain Market - Market Snapshot
4.2. Electric Powertrain Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Growing Investment in Electric Vehicles
  - 4.2.1.2. Government Support and Incentives
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. High Initial Investment
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Electric Powertrain Market Vehicle Type Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Electric Powertrain Market, by Product Type

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
5.3. BEV
- 5.3.1. Global Electric Powertrain Market, by BEV, by Region, 2020-2034 (USD Billion)
5.4. Mild Hybrid
- 5.4.1. Global Electric Powertrain Market, by Mild Hybrid, by Region, 2020-2034 (USD Billion)
5.5. Series Hybrid
- 5.5.1. Global Electric Powertrain Market, by Series Hybrid, by Region, 2020-2034 (USD Billion)
5.6. Parallel Hybrid
- 5.6.1. Global Electric Powertrain Market, by Parallel Hybrid, by Region, 2020-2034 (USD Billion)
5.7. Series-Parallel Hybrid
- 5.7.1. Global Electric Powertrain Market, by Series-Parallel Hybrid, by Region, 2020-2034 (USD Billion)

6. Global Electric Powertrain Market, by Vehicle Type

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
6.3. Light Vehicles
- 6.3.1. Global Electric Powertrain Market, by Light Vehicles, by Region, 2020-2034 (USD Billion)
6.4. Cars
- 6.4.1. Global Electric Powertrain Market, by Cars by Region, 2020-2034 (USD Billion)
6.5. Light Trucks
- 6.5.1. Global Electric Powertrain Market, by Light Trucks by Region, 2020-2034 (USD Billion)

7. Global Electric Powertrain Market, by Geography

7.1. Key Findings
7.2. Introduction
- 7.2.1. Electric Powertrain Market Assessment, By Geography, 2020-2034 (USD Billion)
7.3. Electric Powertrain Market - North America
- 7.3.1. North America: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
- 7.3.2. North America: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.3.3. Electric Powertrain Market - U.S.
  - 7.3.3.1. U.S.: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.3.3.2. U.S.: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.3.4. Electric Powertrain Market - Canada
  - 7.3.4.1. Canada: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.3.4.2. Canada: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
7.4. Electric Powertrain Market - Europe
- 7.4.1. Europe: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
- 7.4.2. Europe: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.4.3. Electric Powertrain Market - UK
  - 7.4.3.1. UK: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.4.3.2. UK: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.4.4. Electric Powertrain Market - France
  - 7.4.4.1. France: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.4.4.2. France: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.4.5. Electric Powertrain Market - Germany
  - 7.4.5.1. Germany: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.4.5.2. Germany: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.4.6. Electric Powertrain Market - Italy
  - 7.4.6.1. Italy: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.4.6.2. Italy: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.4.7. Electric Powertrain Market - Spain
  - 7.4.7.1. Spain: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.4.7.2. Spain: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.4.8. Electric Powertrain Market - Netherlands
  - 7.4.8.1. Netherlands: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.4.8.2. Netherlands: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.4.9. Electric Powertrain Market - Russia
  - 7.4.9.1. Russia: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.4.9.2. Russia: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.4.10. Electric Powertrain Market - Rest of Europe
  - 7.4.10.1. Rest of Europe: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.4.10.2. Rest of Europe: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
7.5. Electric Powertrain Market - Asia Pacific
- 7.5.1. Asia Pacific: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
- 7.5.2. Asia Pacific: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.5.3. Electric Powertrain Market - China
  - 7.5.3.1. China: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.5.3.2. China: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.5.4. Electric Powertrain Market - India
  - 7.5.4.1. India: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.5.4.2. India: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.5.5. Electric Powertrain Market - Malaysia
  - 7.5.5.1. Malaysia: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.5.5.2. Malaysia: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.5.6. Electric Powertrain Market - Japan
  - 7.5.6.1. Japan: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.5.6.2. Japan: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.5.7. Electric Powertrain Market - Indonesia
  - 7.5.7.1. Indonesia: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.5.7.2. Indonesia: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.5.8. Electric Powertrain Market - South Korea
  - 7.5.8.1. South Korea: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.5.8.2. South Korea: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.5.9. Electric Powertrain Market - Australia
  - 7.5.9.1. Australia: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.5.9.2. Australia: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.5.10. Electric Powertrain Market - Rest of Asia Pacific
  - 7.5.10.1. Rest of Asia Pacific: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.5.10.2. Rest of Asia Pacific: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
7.6. Electric Powertrain Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
- 7.6.2. Middle East & Africa: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.6.3. Electric Powertrain Market - Saudi Arabia
  - 7.6.3.1. Saudi Arabia: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.6.3.2. Saudi Arabia: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.6.4. Electric Powertrain Market - UAE
  - 7.6.4.1. UAE: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.6.4.2. UAE: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.6.5. Electric Powertrain Market - Israel
  - 7.6.5.1. Israel: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.6.5.2. Israel: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.6.6. Electric Powertrain Market - South Africa
  - 7.6.6.1. South Africa: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.6.6.2. South Africa: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.6.7. Electric Powertrain Market - Rest of Middle East & Africa
  - 7.6.7.1. Rest of Middle East & Africa: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.6.7.2. Rest of Middle East & Africa: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
7.7. Electric Powertrain Market - Latin America
- 7.7.1. Latin America: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
- 7.7.2. Latin America: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.7.3. Electric Powertrain Market - Mexico
  - 7.7.3.1. Mexico: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.7.3.2. Mexico: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.7.4. Electric Powertrain Market - Brazil
  - 7.7.4.1. Brazil: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.7.4.2. Brazil: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.7.5. Electric Powertrain Market - Argentina
  - 7.7.5.1. Argentina: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.7.5.2. Argentina: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)
- 7.7.6. Electric Powertrain Market - Rest of Latin America
  - 7.7.6.1. Rest of Latin America: Electric Powertrain Market, by Product Type, 2020-2034 (USD Billion)
  - 7.7.6.2. Rest of Latin America: Electric Powertrain Market, by Vehicle Type, 2020-2034 (USD Billion)

8. Competitive Landscape

8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
8.2. Partnerships/Collaborations/Agreements/Exhibitions

9. Company Profiles

9.1. BorgWarner
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
9.2. Bosch Limited
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
9.3. Continental AG
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
9.4. Dana Tm4 Inc.
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
9.5. Hitachi
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
9.6. Magneti Marelli Ck Holdings
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
9.7. Valeo
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
9.8. Nidec Corporation
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
9.9. ZF Friedrichshafen AG
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
9.10. Schaeffler AG
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
9.11. Mitsubishi Electric Corp.
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
9.12. Magna International Inc.
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking
- 9.12.4. Recent Development