North America automotive electric drivetrain components market is poised to capture 15% of the revenue share by 2027 owing to the huge new energy vehicle sales and production in the region.
Selbyville, Delaware, Nov. 30, 2021 (GLOBE NEWSWIRE) --
The automotive electric drivetrain components market revenue is anticipated to record a valuation of USD 170 billion by 2027, according to the most recent study by Global Market Insights Inc. The increasing demand for alternative fuel vehicles to curb greenhouse gas emissions from transportation sector and to reduce environmental damage caused due to conventional vehicles has resulted in government intervention.
Automotive electric drivetrain components industry players are taking initiatives to improve battery power storage and higher output. The established manufacturers and suppliers are integrating DC/AC inverter and other components to improve the efficiency. In 2017, Bosch acquired the battery start-up Seeo Inc., to manufacture 50 kWh battery pack weighing only 190 kg.
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The DC/DC converter segment will observe over 25% CAGR in the automotive electric drivetrain components market. It is a type of electric power converter; it converts a source of direct current from one voltage level to another. In hybrid electric vehicle, the DC/DC converter can be run in opposite order to increase the power from a 12 volt to a 48 volt domain, to assist in starting a vehicle or to provide backup power for the vehicle.
North America will hold over 15% share in automotive electric drivetrain components market by 2027. This can be mainly attributed to the huge new energy vehicle sales and production in North America. In 2020, new energy vehicle sales in the U.S. were around 300 thousand. Moreover, consumers are adopting advanced fuel-efficient automotive vehicle such as HEV, further increasing the automotive electric drivetrain component demand.
The key industry participants in automotive electric drivetrain components market collaborating with electric vehicle OEMs for product development. For instance, in August 2021, BorgWarner got contracts from two premier Chinese OEM for the supply dual inverters which will be fitted into Hybrid Electric Vehicles (HEV) and Plug-in Hybrid Electric Vehicle (PHEV).
Some major findings of the automotive electric drivetrain components market report include:
Governments across the world are actively providing large tax benefits and incentive projects to adopt eco-friendly public transport vehicle.
Latin America is at the nascent stage and will foresee steady growth owing to the increasing demand for sustainable public transportation offering quieter operation and better acceleration. The growing prominence of industry players focusing on expanding their production facilities will further support the industry expansion.
Most of the automotive electric drivetrain components are irreparable, replacement is the only option, further driving the demand for the product in the aftermarket segment.
The availability of ICE vehicles at lower costs along with limited charging infrastructure worldwide is expected to restrict the electric vehicle and automotive electric drivetrain components market.
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Partial chapters of report table of contents (TOC):
Chapter 3 Automotive Electric Drivetrain Components Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2017 – 2027
3.2.1 COVID-19 impact on automotive electric drivetrain components industry
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Component manufacturers
3.3.3 Distribution channel analysis
3.3.4 Value addition at each stage
3.3.5 Vendor matrix
18.104.22.168 List of key automotive electric drivetrain components manufactures
22.214.171.124 List of key/potential customers
3.4 Pricing analysis (including COVID-19 impact)
3.4.1 Regional price trends
3.4.2 Cost structure analysis, 2020
3.5 Innovation & sustainability
3.5.1 Technology landscape
3.5.2 Future trends
3.6 Vehicle electrification scenario
3.6.1 North America
3.6.3 Asia Pacific (APAC)
3.6.4 Latin America (LATAM)
3.6.5 Middle East & Africa (MEA)
3.7 Regulatory landscape
3.8 Industry impact forces
3.8.1 Growth drivers
126.96.36.199 Increasing financial incentive and spending for supporting infrastructure
188.8.131.52 Stringent emission regulations and initiatives to reduce carbon footprint
184.108.40.206 Presence of multiple automotive OEMs along with investments for technology advancements
220.127.116.11 Increasing requirement for clean mobility & transportation solutions
3.8.2 Industry pitfalls & challenges
18.104.22.168 Lack of charging infrastructure
22.214.171.124 High battery cost and supply chain constraints
3.9 Growth potential analysis, 2020
3.10 Porter’s analysis
3.11 Competitive landscape
3.11.1 Top player’s analysis, 2020
3.11.2 Strategy dashboard
3.12 PESTLE analysis
3.13 COVID-19 impact on automotive industry
About Global Market Insights
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