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Electric Powertrain Systems Market Trends

Report ID: GMI5368
Published Date: Sep 2024
Report Format: PDF

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Electric Powertrain Systems Market Trends

A key trend in the electric powertrain systems industry is combining advanced driver assistance systems (ADAS) with powertrain technology. This combination improves vehicle safety and performance through automation and smart control. ADAS features like adaptive cruise control, lane-keeping assist, and automated emergency braking are increasingly being integrated with electric powertrains to create better driving experiences.

By merging powertrain systems with ADAS, vehicles can achieve smoother and more precise control of acceleration, braking, and steering, enhancing overall driving safety and efficiency. This integration not only boosts the functionality of electric vehicles but also supports progress towards fully autonomous driving. As ADAS technologies advance, their integration with electric powertrains will be crucial in developing next-generation vehicles that offer better safety, performance, and user experience.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of electric powertrain systems reached USD 34.50 billion in 2023 and is expected to grow at a CAGR of over 28.4% from 2024 to 2032, led by stricter environmental regulations to reduce carbon emissions.

The Electric Vehicle Drive Module (EVDM) is the dominant component, generating USD 3.39 billion in 2023, and is expected to reach USD 29.36 billion by 2032. The EVDM enhances EV performance by combining the electric motor, power electronics, and transmission into a single, efficient unit.

The Asia-Pacific region leads the market, generating USD 22.75 billion in 2023 and projected to reach USD 204.83 billion by 2032. Strong government support heightened environmental awareness, and urbanization in countries like China, Japan, and South Korea are key drivers.

Key market players include BorgWarner Inc., Continental AG, Cummins Inc., Delta Electronics, Inc., Eaton, GKN PLC, Hitachi Astemo Americas, Inc., Hyundai Motor Company, Magna International Inc., Mitsubishi Electric Corporation, Robert Bosch GmbH, and Volkswagen.