Electric Powertrain MarketSize and Trends

Global Electric Powertrain Market was valued at US$ 75.3 Billion in 2022, exhibiting a compound annual growth rate (CAGR) of 16.4% from 2023 to 2030.

Figure 1. Global Electric Powertrain Market Share (%), By Region, 2022

Global Electric Powertrain Market - Trends

Expansion of Charging Infrastructure

The development of a robust charging infrastructure is vital for the widespread adoption of electric powertrains. Governments and private companies are investing in the expansion of charging networks, including fast-charging stations, to address the range anxiety of EV owners. The growth of charging infrastructure is crucial for the continued expansion of the global electric powertrain market.

Integration of Autonomous and Electric Technologies

The convergence of autonomous driving and electric powertrains is gaining momentum. Companies are exploring the integration of autonomous technology into electric vehicles, which would enable self-driving EVs. This trend has the potential to revolutionize the transportation industry and shape the future of electric powertrains.

Rise of Shared Mobility and Ride-Hailing Services

The rise of shared mobility services, including ride-hailing and car-sharing platforms, has created new opportunities for electric powertrains. Companies operating in the shared mobility sector are increasingly adopting electric vehicles due to their lower operating costs and environmental benefits. This trend is likely to drive the demand for electric powertrains in the commercial vehicle segment.