Market size, share and growth analysis by applications, components and vehicle types, across all major regions and key countries, with forecasts for 2022–2030. The competitive landscape profiles 10+ companies, including BorgWarner and Mitsubishi Electric Corp.
The global electric powertrain market was valued at USD 110 Bn in 2022 and is projected to reach USD 1,324 Bn by 2030, growing at a CAGR of 38%. Europe is the largest regional market and Asia-Pacific is growing fastest.
The rising demand for EVs is boosting the market for Electric Powertrain
According to Custom Market Insights (CMI), The Global Electric Powertrain Market size was estimated at USD 88.11 Billion in 2021 and is expected to reach USD 110 billion in 2022 and is expected to hit around USD 1324 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 38% from 2022 to 2030.
The report further provides an overview of drivers, restraints, and opportunities in the Electric Powertrain market. Moreover, the report examines the global competitive analysis of the Electric Powertrain market.
The essential purpose of the Global Electric Powertrain Market report is to deliver industry investors, company leaders, private equity companies, and stakeholders comprehensive information, facilitating them to make informed strategic decisions concerning the chances in the Electric Powertrain market throughout the world.
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Electric Powertrain Market Overview
As transportation has become more eco-friendly and efficient, the sector today has a wide variety of powertrains. Various pure electric and hybrid powertrains are available in the diverse automobile powertrain spectrum. With the development of electric powertrains, the landscape of powertrains is also becoming more dynamic and complex. The post-COVID-19 resurgence in pure and hybrid electric car sales is a vital aspect propelling the electric powertrain market. Additionally, it is projected that the widespread use of electric vehicles and attractive government incentives for the domestic production of electric cars would increase demand for electric powertrains globally.
Electric Powertrain Market: COVID–19 Impact Analysis
Lockdowns imposed worldwide to stop the virus' spread caused supply chain hiccups and the temporary shutdown of some production sites. Due to its reliance on international procurement for the technology that goes into its batteries, the electric powertrain sector is particularly vulnerable. In addition, electric vehicles have a higher initial purchase price than gas-powered and hybrid vehicles.
The current crisis has made consumers more price-sensitive, affecting market growth. Moreover, sales of electric vehicles are sharply declining in Europe, one of the most critical regions for EV adoption. Italy, Spain, and Germany are among the worst-affected nations.
Electric Powertrain Market: Growth Drivers
Rising demand for EVs
Prominent automakers are producing electric vehicles because they are growing in popularity. Since the market is so lucrative, more and more traditional automakers will probably start making electric cars. The demand for electric powertrains will expand as a result. The expansion of electric vehicles is projected to be accelerated by rising sales of electric cars and increasing costs for conventional fuels. Furthermore, electric vehicles will surely gain popularity as pollution regulations tighten and environmental concerns grow.
Additionally, automakers like Bosch and the Renault Group have taken the lead in implementing vehicle electrification and expanding their product lines to include electrified vehicles. This will enhance the demand for electric cars and create many chances for producers and new businesses looking to enter the market.
Government initiatives
Various governments are encouraging the development of electric vehicles (EVs). For instance, the US Department of Energy announced a $400 billion public investment in clean energy in 2020. By 2030, the investment would have contributed to developing 500,000 electric vehicle charging stations. In addition, famous automotive component makers are aggressively concentrating on producing critical EV components to obtain a competitive edge due to the increased sales of electric vehicles.
Electric Powertrain Market Segmentation Analysis
The Electric Powertrain market is segmented into components, applications, and vehicle types in our research scope. In terms of market share by application, the BEV category accounted for more than three-fourths of the market for electric powertrains worldwide in 2021. Furthermore, it is expected that this segment will continue to hold a leading position during the forecast period. Moreover, the part is anticipated to experience the fastest CAGR throughout the year. Additionally, a general study of market segments like PHEV and FCEV is provided in the report.
Regarding component share, the battery category accounted for roughly three-fifths of the market for electric powertrains globally in 2021. Furthermore, by 2030, this sector's most significant market share contribution is anticipated. However, onboard chargers are also predicted to increase substantially, with a CAGR of around 35% over the forecast year. Therefore, a comprehensive examination of sectors, including power electronic controller, converter, motor/generator, and transmission, is also provided in the report.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 88.11 Billion |
| Projected Market Size in 2030 | USD 1324 Billion |
| Market Size in 2022 | USD 110 Billion |
| CAGR Growth Rate | 38% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | BorgWarner, Mitsubishi Electric Corp, Bosch Limited, Magna International Inc., Schaeffler AG, Valeo, ZF Friedrichshafen AG, Nidec Corporation, Magneti Marelli Ck Holdings, Continental AG, and Others |
| Key Segment | By Applications, Components, Vehicle Types, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors, and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfill your requirements for research. |
Key Insights:
Recent Development
Regional Landscape
In 2021, Europe accounted for more than 40% of the market's electric powertrains. High levels of EV adoption have been seen in nations including the Netherlands, Norway, France, and Sweden, and this trend is likely to support the expansion of the regional market in the area. With major automakers, including Audi AG, Volkswagen AG, and BMW AG, concentrating on the production and marketing of electric vehicles, Germany is one of the world's leading automotive centers, which has increased demand for the market for electric vehicle powertrains.
Additionally, electric car adoption is very high in North America. Significant companies like Tesla, Chevrolet, and Ford are present in the area, which gives it its own identity. In addition, the US and other nations have created an infrastructure for electric vehicles, including charging stations referred to as Electric Vehicle Supply Equipment. These factors are anticipated to increase market demand.
Competitive Landscape
Leading producers in the market are mainly concentrating on improving their facilities in nations like Europe, China, and the United States. For instance, Nidec Corporation spent over USD 1.8 billion in February 2020 to grow its electric vehicle powertrain business. As a result, up to 8.4 million electric motors might be produced annually at the company's three new plants in Poland, China, and Mexico.
The report offers a company analysis to give a 360-degree overview of the major players operating in the market. Moreover, the information also comprises key strategic developments related to the market, including new service launches, acquisitions & mergers, agreements, collaborations & joint ventures, partnerships, research & development, and regional expansion of key player participants involved in the global Electric Powertrain market.
Prominent Players:
The global Electric Powertrain market is segmented as follows:
By Applications
By Components
By Vehicle Types
On the basis of Geography
Updated: July 2026 · Formats: PDF, Excel, PPT
"Asia Pacific and North American" regions will lead the global Electric Powertrain market during the forecast period 2022 to 2030.
Key factors driving the electric powertrain market growth include:
The key players operating in the Electric Powertrain market are BorgWarner, Mitsubishi Electric Corp, Bosch Limited, Magna International Inc., Schaeffler AG, Valeo, ZF Friedrichshafen AG, Nidec Corporation, Magneti Marelli Ck Holdings, Continental AG.
The global Electric Powertrain market is expanding growth with a CAGR of approximately 38% during the forecast period (2022 to 2030).
The global Electric Powertrain market size was valued at USD 88.11 Billion in 2021 and it is projected to reach around USD 1075 Billion by 2030.
Author · Sr. Research Analyst
Ayush Kadam is a Senior Market Research Analyst at Custom Market Insights, with over seven years of experience in syndicated and custom market research. He specializes in market sizing, competitive intelligence, industry trends, forecasting, and strategic insights, helping clients turn complex data into actionable business decisions.
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