In its latest report, ‘Global Electric Powertrain Market by Propulsion Type (BEV, HEV, FCEV), Component (Motor/Generator, Battery Packs, Converters, On-board Chargers, Others), Vehicle Type (Passenger Vehicles, Commercial Vehicles, Others) & Geography—Forecasts to 2031’, Meticulous Research® forecasts the electric powertrain market will exceed $288.9 billion by 2031, growing at a CAGR of 14.7% from 2024.
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Market Dynamics
The electric powertrain market is influenced by:
Surge in Electric Vehicle Adoption: Growing consumer interest in electric vehicles is driving market expansion.
Tightened Carbon Emission Standards: Governments are implementing stricter emission regulations.
Increased Investment in Public Transport Electrification: There is a strong push towards electric public transport systems.
High-Performance Motor Requirements: Demand for efficient motors is rising.
