Future of E-Powertrain Market

According to a research report "Future of E-Powertrain Market by integration type (Integrated & Non-integrated), Component (Motor, Battery, BMS, Controller, PDM, Inverter/Converter, On-Board Charger), Propulsion (BEV, PHEV), Vehicle Type (PC & LCV) and Region - Global Forecast to 2032" published by MarketsandMarkets, the electric powertrain market is projected to reach 51,288 thousand units by 2032, at a CAGR of 13.8% from 2024 to 2032.

Browse 50 market data Tables and 40 Figures spread through 240 Pages and in-depth TOC on "Future of E-Powertrain Market by integration type (Integrated & Non-integrated), Component (Motor, Battery, BMS, Controller, PDM, Inverter/Converter, On-Board Charger), Propulsion (BEV, PHEV), Vehicle Type (PC & LCV) and Region - Global Forecast to 2032"
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The electric powertrain market is driven by growing demand for electric vehicles. The need for extended range, & faster charging is leading to technological developments in the electric powertrain industry. Companies are working towards integrating electric powertrain components as these systems in electric powertrains can help OEMs reduce costs by integrating components like motors and thermal management into a single unit, thereby cutting material, assembly, and R&D expenses.

Inverters are estimated to be the largest market in the BEV powertrain market.

In the pure electric vehicle segment, inverters hold the largest share in terms of volume. Inverters are crucial in converting DC to AC, which powers an electric motor that propels the electric vehicle. The innovation in high-voltage batteries will also lead to the development of efficient motors and inverters. The emergence of traction inverter technologies can accommodate a broader range of electric and hybrid vehicle architectures. Further, the fitment of an innovative integrated system that combines the inverter and charger for better efficiency and space-saving. The usage of silicon carbide (SiC) and gallium nitride (GaN) semiconductors in the inverter has increased drastically in midrange-range vehicles to support higher efficiency, better thermal management, and compact designs compared to traditional silicon (Si) inverters.

Moreover, the upward trend of this bidirectional charging technology in the EV market may further increase the demand for efficient inverter technology, capable of converting vehicle-to-grid power and vehicle-to-home power. Such major tier-1 suppliers like SAFT, Denso, and GKN are trying to showcase significant innovation in this field. For instance, GKN launched an 800V- compatible inverter that improves power density by 50% and reduces the amount of copper used by 63%. Thus, growing advancements to produce compact & cost-effective inverter technology to enhance the functionality of e-powertrains are likely to prompt market growth in the upcoming years for this component.

The integrated drive system is projected to be the largest and fastest-growing market.

Integrated powertrain system holds the largest market share globally and is estimated to grow at the fastest rate at a CAGR of xx% during the forecast period 2024-2032. An integrated drive system combines the motor, inverter, gearbox, etc., into one unit. Benefits of integrated systems are fewer parts, reduced cabling and manufacturing, it also reduces energy consumption by shared housing and cooling systems, therefore improving the efficiency and performance of the vehicle as a whole. Of these configurations, the most common is the 3-in-1 system; however, at the advanced end are 4-in-1, 5-in-1, and even emerging 8-in-1 solutions which are picking up and likely to have optimistic demand in near future new models of EVs. Using the 3-in-1 system or higher configuration, the OEM can lower costs by a considerable percentage compared to using individual components. The 2-in-1 and 3-in-1 integrated systems are prominent in the current scenario and integrate motor and inverter. 4-in-1 systems & even higher systems achieve higher cost savings by integrating thermal solutions, DC/DC or AC/DC chargers, and other components. Nissan has introduced a 5-in-1 modular drive system and is targeting the development cost reduction by 30%. Drive systems of 8-in-1, 9-in-1, and 10-in-1 are highly niche technologies, and development is still in the very initial phase with just a few players such as Dongfeng Nammi, BYD, and JAC that have come out with new systems, which will be significantly adopted starting from 2028 or 2030. State of the electric powertrain market - integrated drive systems with higher configurations will revolutionize the transformation in the EV industry from 2028 onwards.

Asia Pacific is projected to be the most prominent electric powertrain market.

The Asia-Pacific (APAC) region is the largest market for electric vehicle (EV) sales and production, with China accounting for over 90% of the market share. Governments across the region are actively implementing laws and providing incentives to boost EV adoption. For instance, South Korea plans to phase out internal combustion engine (ICE) vehicles by 2035, while China aims for 45% of vehicle sales to be zero-emission vehicles (ZEVs) by 2027. By the end of 2024, China also targets establishing over 5 million public charging points. India also strives to achieve 30% EV adoption by 2030 and has already achieved the target of building more that 10,000 public charging stations by 2024 which is already crossed more than 12,000 charging stations.

In Asia Pacifc market, compact and mid-size EVs with 40-60 kWh batteries are popular due to their affordability and suitability for urban driving. However, demand for larger EVs with 70 kWh+ battery capacity is growing, particularly in China and South Korea, where longer driving ranges are needed. As battery technology advances, consumers expect longer ranges, faster charging, and improved efficiency. Premium EVs are gaining traction, especially in China and Japan, while cost-efficient solutions like LFP batteries are being developed for mass-market EVs.

The trend is to 800V powertrain architecture, gaining speed and performance in charging of electric vehicles. More efficient motor, power electronics, as well as more integral thermal management systems, will find a pivotal role in the design strategy by original equipment manufacturers. Solid-state batteries are expected to be integrated into future EVs for better energy density and safety. Integrated ePowertrains in which the motor, inverter, and transmission are integrated into one single unit are gaining prominence largely due to cost efficiency and scalability; BYD, Hyundai, and Toyota are leaders in this.

Major players operating in the electric powertrain market are Rober Bosch Gmbh (Germany), Magna International Inc. (Canada), Vitesco Technologies Gmbh (Germany), Dana Limited (US), and Valeo (Germany).

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