Press Release Details

View all news

Strategy Analytics: Electric Vehicles Powertrain Systems Market Accelerates Past $100 Billion

08/25/2022

Battery Electric Vehicles to Fuel Growth

The push to electric vehicles is being dictated by consumer awareness and government regulations and mandates related to climate change and the need to reduce emissions and reverse the impacts of global warming. The latest Strategy Analytics Electric Vehicles Service (EVS) report, “xEV Systems Demand Outlook 2021-2029” forecasts that electric vehicle production will grow at a CAAGR (compound annual average growth rate) of 26% over 2021 to 2026, with volumes approaching 54.1 million units by 2029. This in turn will drive demand for corresponding xEV powertrain electronics systems which is forecast to grow at a CAAGR of 37% and reach $107.0 billion by 2029.

xEV Powertrain Electronics System Market, Source: Strategy Analytics

xEV Powertrain Electronics System Market, Source: Strategy Analytics

xEV powertrain systems covered in this analysis include the key systems necessary for operation of mild hybrid, full hybrid, plug-in hybrid, and battery electric powertrain. This includes the battery management systems, DC/DC converters, main traction inverter, electric motor, and onboard charger. The main traction inverter and electric motor will drive overall demand, from over 50% in 2021 to 57% by 2029, reflecting the push towards battery electric vehicle powertrains as well premium and super-premium vehicle segments incorporating multiple systems per vehicle.

“Several trends are shaping powertrain technologies, but the underlying goal is to reduce size and weight while maximizing performance and efficiency,” noted Asif Anwar, Executive Director at Strategy Analytics. “Integration, cloud-based analytics, wide bandgap semiconductors such as silicon carbide and gallium nitride, as well as novel materials for electric motors and 800V architectures are all being utilized to achieve these aims. This will drive the market and maintain momentum towards the electrification of the automotive industry.”

Source: Strategy Analytics, Inc.

About Strategy Analytics

Strategy Analytics, Inc. is a global leader in supporting companies across their planning lifecycle through a range of customized market research solutions. Part of TechInsights, our multi-discipline capabilities include: industry research advisory services, customer insights, user experience design and innovation expertise, mobile consumer on-device tracking and business-to-business consulting competencies. With domain expertise in smart devices, connected cars, intelligent home, service providers, IoT, strategic components and media, Strategy Analytics can develop a solution to meet your specific planning need. For more information, visit us at www.strategyanalytics.com.

For more information about Strategy Analytics
Electric Vehicles Service (EVS): Click here

Report contacts:
European Contact: Asif Anwar, +44 (0)1908 423 635, aanwar@strategyanalytics.com
US Contact: Mark Fitzgerald, +1 617 614 0773, mfitzgerald@strategyanalytics.com
China Contact: Julia An, +86 189 1664 1683, jan@strategyanalytics.com

Source: Strategy Analytics

Multimedia Files:

View all news