Electric Powertrain Market by Component (Motor, 12V, HV/48V Battery, BMS, 48V ISG, Controller, PDM, DC/AC Inverter, DC/DC Converter & Others), Type (BEV, MHEV, Series, Parallel & Parallel-Series), Vehicle Type, and Region - Global Forecast to 2027

“Decrease in emissions limits and attractive government incentives for EV buyers are significant factors for the growth of the electric powertrain market globally”
The global electric powertrain market is projected to reach USD 191.4 billion by 2027 from an estimated USD 62.9 billion in 2019, at a CAGR of 14.9 %. All major players such as Bosch (Germany), Mitsubishi Electric (Japan), Magna (Canada), Continental AG (Germany), and Hitachi (Japan) are moving toward electromobility by showcasing their developments and business strategies in the electric powertrain market.
There are various factors propelling the electric powertrain market. The major factor being the emission norms across regions. For instance, the introduction of Euro VI, China VI, and PROCONVE P8 has driven the electric powertrain market by pushing automakers to come up with advanced electrified powertrain technologies. Also, attractive government incentives such as tax rebates and subsidies for buyers have also propelled the market growth.
“On-board charger segment is witnessing the highest CAGR in the HEV/PHEV powertrain market”
PHEVs use an on-board charger to recharge their battery. The increase in PHEV sales will drive the on-board charger market. In the US, various government incentives such as exemptions from sales taxes, tax credits, and rebates are driving the PHEV market. The presence of various PHEV models offered by BMW, Mercedes-Benz, Volvo, Porsche, Kia, and Hyundai is also driving the HEV/PHEV electric powertrain market. In China, the PHEV market is dominated by SAIC and BYD. Various developments such as Dana TM4’s bidirectional charger inverter that can function both as a charger as well as an inverter will drive the on-board charger market.
“BEV is expected to remain the segment in the electric powertrain market, by vehicle type”
BEV sales are increasing at a rapid rate because of various government measures. The incentives on purchase of BEVs are higher than any other type of electric vehicle. Growing charging infrastructure and better performance of BEVs over PHEVs are driving the BEV powertrain market. Stringent emission standards for vehicles and developments in electric powertrain products such as in Lithium-ion batteries, battery management systems, and power distribution modules are also driving the BEV powertrain market.

“Asia Pacific is expected to register the fastest growth during the forecast period”
The Asia Pacific electric powertrain market is estimated to be the fastest market. In Asia Pacific, China and India are estimated to be experiencing the highest CAGRs. In China, the government is providing subsidies to promote electric vehicles and cut down on pollution levels. The rise of electric vehicles for ride sharing has increased their adoption in China. In India, BS VI is set to be rolled out by 2020, pushing the automakers to come up with new electricfied powertrain technologies. Various ride sharing companies such as Uber and Ola have been directed by the Indian government to have a 40% electric vehicle fleet by 2026.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
‧ By Company Type: Tier I - 35%, Tier II - 35%, and OEM - 30%
‧ By Designation: C Level - 40%, D Level - 35%, and Others - 25%
‧ By Region: North America - 40%, Europe - 20%, and Asia Pacific - 30%, Rest of the World – 10%
The electric powertrain market comprises major manufacturers such as Bosch (Germany), Mitsubishi Electric (Japan), Magna (Canada), Continental (Germany), and Hitachi (Japan).
Research Coverage:
The electric powertrain market is segmented on the basis of HEV/PHEV component [motor/generator, battery (HV battery and 12V battery), battery management system, controller, inverter/converter (AC/DC inverter and DC/DC converter), power distribution module, idle start-stop, on-board charger, and regenerative braking], BEV component [motor/generator, battery pack (12V battery and HV battery), battery management system, controller, inverter/converter (AC/DC inverter and DC/DC converter), power distribution module, idle start-stop, on-board charger, and regenerative braking)], 48V mild hybrid vehicle (MHEV) component (battery, battery management system, inverter/converter, 48V BSG/ISG, idle start-stop, and regenerative braking), powertrain type (BEV powertrain, MHEV powertrain, series hybrid powertrain, parallel hybrid powertrain, and series-parallel hybrid powertrain), vehicle type (HEV/PHEV, BEV, and 48V MHEV), and region (Asia Pacific, Europe, North America, and Rest of the world).
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.


Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall electric powertrain market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

TABLE OF CONTENTS

1 INTRODUCTION 21
1.1 OBJECTIVES 21
1.2 PRODUCT DEFINITION 22
1.2.1 INCLUSIONS & EXCLUSIONS 22
1.3 MARKET SCOPE 23
1.4 LIMITATIONS 24
1.5 STAKEHOLDERS 24
2 RESEARCH METHODOLOGY 25
2.1 RESEARCH DATA 25
2.2 SECONDARY DATA 27
2.2.1 KEY SECONDARY SOURCES FOR ELECTRIC VEHICLE SALES 27
2.2.2 KEY SECONDARY SOURCES FOR MARKET SIZING 27
2.2.3 KEY DATA FROM SECONDARY SOURCES 28
2.3 PRIMARY DATA 29
2.3.1 SAMPLING TECHNIQUES & DATA COLLECTION METHODS 30
2.3.2 PRIMARY PARTICIPANTS 30
2.4 MARKET SIZE ESTIMATION 30
2.5 MARKET BREAKDOWN AND DATA TRIANGULATION 32
2.6 ASSUMPTIONS & ASSOCIATED RISKS 33
3 EXECUTIVE SUMMARY 36
4 PREMIUM INSIGHTS 40
4.1 ATTRACTIVE OPPORTUNITIES IN THE ELECTRIC POWERTRAIN MARKET 40
4.2 ELECTRIC POWERTRAIN MARKET, BY REGION 41
4.3 HEV/PHEV POWERTRAIN MARKET, BY COMPONENT 42
4.4 BEV POWERTRAIN MARKET, BY COMPONENT 42
4.5 MHEV POWERTRAIN MARKET, BY COMPONENT 43
4.6 ELECTRIC POWERTRAIN MARKET, BY POWERTRAIN TYPE 43
4.7 ELECTRIC POWERTRAIN MARKET, BY VEHICLE TYPE 44
5 MARKET OVERVIEW 45
5.1 INTRODUCTION 45
5.2 YEARS CONSIDERED FOR THE STUDY 46
5.3 PACKAGE SIZE 46
5.4 MARKET DYNAMICS 47
5.4.1 DRIVERS 48
5.4.1.1 Stringent emission norms 48
5.4.1.2 Growing vehicle electrification demand in automotive industry 49
5.4.1.3 Lack of infrastructure for electric vehicle charging 49
5.4.1.4 Emerging competing technologies in conventional engines 50
5.4.2 OPPORTUNITIES 51
5.4.2.1 Developments in Lithium-ion batteries 51
5.4.3 CHALLENGES 51
5.4.3.1 High cost of electrical components 51
5.4.3.2 Technological challenges with electric powertrains 52
5.5 REVENUE MISSED: OPPORTUNITIES FOR ELECTRIC POWERTRAIN MANUFACTURERS 52
5.6 ELETRIC POWERTRAIN MARKET, SCENARIOS (2018–2027) 53
5.6.1 ELECTRIC POWERTRAIN MARKET, MOST LIKELY SCENARIO 53
5.6.2 ELECTRIC POWERTRAIN MARKET, OPTIMISTIC SCENARIO 53
5.6.3 ELECTRIC POWERTRAIN MARKET, PESSIMISTIC SCENARIO 54
5.7 REVENUE SHIFT DRIVING MARKET GROWTH 54
6 ELECTRIC POWERTRAIN MARKET, BY VEHICLE TYPE 55
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Pacific, Europe, North America and RoW
6.1 INTRODUCTION 56
6.1.1 RESEARCH METHODOLOGY 56
6.1.2 ASSUMPTIONS 57
6.1.3 INDUSTRY INSIGHTS 57
6.2 OPERATIONAL DATA 58
6.2.1 LITHIUM-ION BATTERIES REQUIREMENT FOR VARIOUS VEHICLE TYPE 58
6.3 HEV/PHEV 59
6.3.1 HIGHER FUEL EFFICIENCY AND INCRESING DEMAND OF DOWNSIZED ENGINES WILL DRIVE THE HEV/PHEV POWERTRAIN SEGMENT 59
6.4 BEV 60
6.4.1 INNOVATIONS IN BATTERIES WILL DRIVE THE BEV POWERTRAIN SEGMENT 60
6.5 48V MILD HYBRID VEHICLE 61
6.5.1 EASIER INTEGRATION OF MHEV ARCHITECTURE WILL DRIVE THE 48V MHEV POWERTRAIN SEGMENT 61
7 HEV/PHEV POWERTRAIN MARKET, BY COMPONENT 62
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Pacific, Europe, North America and RoW
7.1 INTRODUCTION 63
7.1.1 RESEARCH METHODOLOGY 63
7.1.2 ASSUMPTIONS 64
7.1.3 INDUSTRY INSIGHTS 64
7.2 MOTOR/GENERATOR 66
7.2.1 DEVELOPMENTS IN MOTOR/GENERATOR WILL DRIVE THE MOTOR/ GENERATOR MARKET 66
7.3 BATTERY 67
7.3.1 ONGOING DEVELOPMENTS IN BATTERIES WILL DRIVE THE BATTERY MARKET 67
7.4 BATTERY MANAGEMENT SYSTEM (BMS) 68
7.4.1 SAFETY RISKS ASSOCIATED WITH BATTERY WILL DRIVE THE BATTERY MANAGEMENT SYSTEM MARKET 68
7.5 CONTROLLER 69
7.5.1 INOVATIONS IN MOTOR ELECTRONICS WILL DRIVE THE CONTROLLER MARKET 69
7.6 INVERTER/CONVERTER 70
7.6.1 RAPID TECHNOLOGICAL DEVELOPMENTS WILL DRIVE THE INVERTER/ CONVERTER MARKET 70
7.7 POWER DISTRIBUTION MODULE 71
7.7.1 NEED OR PROPER MAINTENANCE OF DIFFERENT CONTROL UNITS WILL DRIVE THE POWER DISTRIBUTION MODULE MARKET 71
7.8 IDLE START-STOP 72
7.8.1 DEMAND FOR REDUCTION OF VEHICULAR EMISSIONS WILL DRIVE THE IDLE START-STOP MARKET 72
7.9 ON-BOARD CHARGER 73
7.9.1 DUAL ROLE OF ON-BOARD CHARGERS WILL DRIVE THE ON-BOARD CHARGER MARKET 73
7.10 REGENERATIVE BRAKING 74
7.10.1 INOVATIONS IN TYPES OF BRAKING SYSTEMS WILL DRIVE THE REGENERATIVE BRAKING MARKET 74
8 BEV POWERTRAIN MARKET, BY COMPONENT 75
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Pacific, Europe, North America and RoW
8.1 INTRODUCTION 76
8.1.1 RESEARCH METHODOLOGY 76
8.1.2 ASSUMPTIONS 78
8.1.3 INDUSTRY INSIGHTS 78
8.2 MOTOR/GENERATOR 79
8.2.1 INCREASE IN NUMBER OF MOTORS/GENERATORS WILL DRIVE THE MOTOR/GENERATOR MARKET 79
8.3 BATTERY PACK 80
8.3.1 ONGOING DEVELOPMENTS IN LITHIUM-ION BATTERIES WILL DRIVE THE BATTERY PACK MARKET 80
8.4 BATTERY MANAGEMENT SYSTEM (BMS) 81
8.4.1 INNOVATIONS WILL DRIVE THE BATTERY MANAGEMENT MARKET 81
8.5 CONTROLLER 82
8.5.1 INCREASE IN NUMBER OF MOTORS USED TO IMPROVE BEV PERFORMANCE WILL DRIVE THE CONTROLLER MARKET 82
8.6 INVERTER/CONVERTER 83
8.6.1 INNOVATIONS IN INVERTERS/CONVERTERS WILL DRIVE THE INVERTER/CONVERTER MARKET 83
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8.7 POWER DISTRIBUTION MODULE 84
8.7.1 SAFETY OF DRIVERS AND PROPER FUNCTIONING OF ELECTRONIC COMPONENTS WILL DRIVE THE MARKET 84
8.8 ON-BOARD CHARGER 85
8.8.1 NEED FOR SAFE AND EFFECTIVE CHARGING OF THE BATTERY WILL DRIVE THE ON-BOARD CHARGER MARKET 85
8.9 REGENERATIVE BRAKING 86
8.9.1 DEMAND FOR IMPROVED FUEL PERFORMANCE WILL DRIVE REGENERATIVE BRAKING MARKET 86
9 48V MHEV POWERTRAIN MARKET, BY COMPONENT 87
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Pacific, Europe, North America and RoW
9.1 INTRODUCTION 88
9.1.1 RESEARCH METHODOLOGY 88
9.1.2 ASSUMPTIONS 89
9.1.3 INDUSTRY INSIGHTS 89
9.2 OPERATIONAL DATA 90
9.2.1 MHEV PASSENGER CAR SALES BY REGION 90
9.3 BATTERY 91
9.3.1 DEVELOPMENTS IN LITHIUM-ION BATTERY TECHNOLOGY WILL DRIVE THE BATTERY MARKET FOR 48V MHEV ARCHITECTURE 91
9.4 BATTERY MANAGEMENT SYSTEM 92
9.4.1 NECESSITY TO MAINTAIN OPTIMUM TEMPERATURE AND PRESSURE WILL DRIVE THE MARKET FOR BATTERY MANAGEMENT SYSTEM 92
9.5 INVERTER/CONVERTER 93
9.5.1 INNOVATIONS IN POWER ELECTRONICS WILL DRIVE THE INVERTER/ CONVERTER MARKET 93
9.6 48V ISG/BSG 94
9.6.1 INCREASE IN DEMAND FOR ENGINE PERFORMANCE WILL DRIVE THE 48V ISG/BSG MARKET 94
9.7 IDLE START-STOP 95
9.7.1 DEMAND FOR HIGHER FUEL ECONOMY WILL DRIVE THE IDLE START STOP MARKET 95
9.8 REGENERATIVE BRAKING 96
9.8.1 ELECTRIFICATION IN BRAKING SYSTEMS WILL DRIVE THE REGENERATIVE BRAKING MARKET 96
10 ELECTRIC POWERTRAIN MARKET, BY POWERTRAIN TYPE 97
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Pacific, Europe, North America and RoW
10.1 INTRODUCTION 98
10.1.1 RESEARCH METHODOLOGY 98
10.1.2 ASSUMPTIONS 98
10.1.3 INDUSTRY INSIGHTS 98
10.2 BEV POWERTRAIN 100
10.2.1 INCREASE IN BEV SALES WILL DRIVE THE BEV POWERTRAIN MARKET 100
10.3 MHEV POWERTRAIN 101
10.3.1 EASE OF INTEGRATION OF 48V MHEV POWERTRAIN ARCHITECTURE IN EXISTING ICE ARCHITECTURE WILL DRIVE THIS SEGMENT 101
10.4 SERIES HYBRID POWERTRAIN 102
10.4.1 HIGHER POWER APPLICATIONS IN THE FUTURE WILL DRIVE THE SERIES HYBRID POWERTRAIN MARKET 102
10.5 PARALLEL HYBRID POWERTRAIN 103
10.5.1 BETTER PERFORMANCE DURING HIGHWAY DRIVING WILL DRIVE THE PARALLEL HYBRID POWERTRAIN MARKET 103
10.6 SERIES-PARALLEL HYBRID 104
10.6.1 ADVANTAGE OF DUAL OPERATION MODE WILL DRIVE THE SERIES-PARALLEL POWERTRAIN MARKET 104
11 ELECTRIC POWERTRAIN MARKET, BY REGION 106
The Chapter is Further Segmented By Component at Regional and Country Level
11.1 INTRODUCTION 107
11.1.1 RESEARCH METHODOLOGY 107
11.1.2 ASSUMPTIONS/LIMITATIONS 108
11.1.3 INDUSTRY INSIGHTS 108
11.2 ASIA PACIFIC 110
11.2.1 CHINA 112
11.2.1.1 Stringent emission norms will drive the market 112
11.2.1.2 China electric vehicle sales data 112
11.2.2 INDIA 113
11.2.2.1 Rolling out of BS VI norms will drive the Indian electric powertrain market 113
11.2.2.2 India electric vehicle sales data 114
11.2.3 JAPAN 115
11.2.3.1 Contribution by major players to electromobility will drive the Japanese electric powertrain market 115
11.2.3.2 Japan electric vehicle sales data 116
11.2.4 SOUTH KOREA 117
11.2.4.1 Attractive government incentives will drive the South Korean electric vehicles market 117
11.2.4.2 South Korea electric vehicle sales data 117
11.3 EUROPE 119
11.3.1 FRANCE 120
11.3.1.1 Increasing investment in the production of electrified powertrain components will drive the French electric powertrain market 120
11.3.1.2 France electric vehicle sales data 120
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11.3.2 GERMANY 122
11.3.2.1 Government funding for developing charging infrastructure will drive the German electric powertrain market 122
11.3.2.2 Germany electric vehicle sales data 122
11.3.3 ITALY 123
11.3.3.1 Agreements between electrified powertrain component players will drive the Italian powertrain market 123
11.3.3.2 Italy electric vehicle sales data 123
11.3.4 THE NETHERLANDS 125
11.3.4.1 Partnerships between institutions and the government will drive the Netherlands market 125
11.3.4.2 Netherlands electric vehicle sales data 125
11.3.5 NORWAY 126
11.3.5.1 High demand for pure electric vehicles will drive the Norway electric powertrain market 126
11.3.5.2 Norway electric vehicle sales data 127
11.3.6 SPAIN 128
11.3.6.1 Identification of low-emission zones and awareness campaigns will drive the market 128
11.3.6.2 Spain electric vehicle sales data 128
11.3.7 SWEDEN 130
11.3.7.1 Experimentation in innovative electric charging technology will drive the Swedish electric powertrain market 130
11.3.7.2 Sweden electric vehicle sales data 130
11.3.8 UK 131
11.3.8.1 Initiatives by the UK government toward establishing charging infrastructure and encouraging startups will drive the market 131
11.3.8.2 UK electric vehicle sales data 131
11.3.9 RUSSIA 133
11.3.9.1 Successful attempts to domestically produce electric cars will drive the Russian electric powertrain market 133
11.3.9.2 Russia electric vehicle sales data 133
11.4 NORTH AMERICA 135
11.4.1 US 136
11.4.1.1 Increasing R&D on lithium-ion batteries and partnerships between major players will drive the US electric powertrain market 136
11.4.1.2 US electric vehicle sales data 137
11.4.2 CANADA 138
11.4.2.1 Government incentives to promote the adoption of electric vehicles will drive the market 138
11.4.2.2 Canada electric vehicle sales data 138
11.4.3 MEXICO 140
11.4.3.1 Government incentives to encourage domestic production of electric vehicles will drive the Mexican electric powertrain market 140
11.4.3.2 Mexico electric vehicle sales data 140
11.5 ROW 142
11.5.1 BRAZIL 143
11.5.1.1 Stringent emission norms with increasing presence of electric vehicle manufacturers will drive the Brazilian electric powertrain market 143
11.5.1.2 Brazil electric vehicle sales data 143
11.5.2 SOUTH AFRICA 144
11.5.2.1 Adoption of stricter emission norms and local manufacturing will drive the market for EVs 144
11.5.2.2 South Africa electric vehicle sales data 144
12 COMPETITIVE LANDSCAPE 147
12.1 OVERVIEW 147
12.2 ELECTRIC POWERTRAIN MARKET: MARKET RANKING ANALYSIS 147
12.3 COMPETITIVE LEADERSHIP MAPPING 148
12.3.1 TERMINOLOGY 148
12.3.2 VISIONARY LEADERS 148
12.3.3 INNOVATORS 148
12.3.4 DYNAMIC DIFFERENTIATORS 148
12.3.5 EMERGING COMPANIES 149
12.3.6 STRENGTH OF PRODUCT PORTFOLIO 150
12.3.7 BUSINESS STRATEGY EXCELLENCE 151
12.4 COMPETITIVE SCENARIO 153
12.4.1 NEW PRODUCT DEVELOPMENTS/LAUNCH 153
12.4.2 EXPANSIONS 154
12.4.3 ACQUISITIONS 154
12.4.4 PARTNERSHIPS/CONTRACTS 154
12.5 RIGHT TO WIN 155
13 COMPANY PROFILES 158
13.1 KEY PLAYERS 158
(Business overview, Products offered, Recent Developments, SWOT analysis, MNM view)*
13.1.1 BOSCH 158
13.1.2 MITSUBISHI ELECTRIC 162
13.1.3 MAGNA 165
13.1.4 CONTINENTAL AG 169
13.1.5 HITACHI 172
13.1.6 BORGWARNER 175
13.1.7 ZF 178
13.1.8 DENSO 180
13.1.9 DANA INCORPORATED 182
13.1.10 VALEO GROUP 184
*Details on Business overview, Products offered, Recent Developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.
13.2 ASIA PACIFIC 186
13.2.1 NIDEC CORPORATION 186
13.2.2 MAGNETI MARELLI CK HOLDINGS 186
13.2.3 TOYOTA INDUSTRIES CORPORATION 186
13.2.4 PANASONIC 187
13.3 EUROPE 187
13.3.1 BRUSA ELECTRONIK 187
13.3.2 CC POWER ELECTRONICS 187
13.4 NORTH AMERICA 187
13.4.1 CURTIS INSTRUMENTS 187
13.4.2 KELLY CONTROLS 187
13.4.3 FILTRAN LLC 188
13.5 ROW 188
13.5.1 MOURA BATTERIES 188
14 RECOMMENDATIONS BY MARKETSANDMARKETS 189
14.1 ASIA PACIFIC WILL BE THE MAJOR MARKET FOR ELECTRIC POWERTRAINS 189
14.2 BEV POWERTRAIN COMPONENTS CAN BE A KEY FOCUS FOR MANUFACTURERS 189
14.3 CONCLUSION 189
15 APPENDIX 190
15.1 CURRENCY & PRICING 190
15.2 KEY INSIGHTS OF INDUSTRY EXPERTS 191
15.3 DISCUSSION GUIDE 192
15.4 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL 196
15.5 AVAILABLE CUSTOMIZATIONS 198
15.5.1 ELECTRIC POWERTRAIN MARKET, BY VEHICLE TYPE COUNTRY WISE DATA 198
15.5.1.1 BEV 198
15.5.1.2 HEV/PHEV 198
15.5.2 ELECTRIC POWERTRAIN MARKET, BY TYPE COUNTRY WISE DATA 198
15.5.2.1 BEV powertrain 198
15.5.2.2 Series hybrid powertrain 198
15.5.2.3 Parallel hybrid powertrain 198
15.5.2.4 Series-parallel powertrain 198
15.6 RELATED REPORTS 199
15.7 AUTHOR DETAILS 200