Asia-Pacific EV Powertrain Market

The EV powertrain market in Asia-Pacific is expected to grow from US$ 20.27 Bn in 2018 to US$ 59.10 Bn by the year 2027. This represents a CAGR of 12.8% from the year 2019 to 2027.

The EV powertrain market outlook is positive, as the electric vehicles are gaining popularity among the end-users. Increasing the adoption of these vehicles would enable the manufacturers to increase their production lines, thereby requiring an increased quantity of EV powertrains. This factor is expected to drive the EV powertrain market. Additionally, the presence of a large number of well-established and automotive industry recognized players in the market is allowing the end-users to technologically enhanced powertrain products, which is also a key driving force of the EV powertrain market. The volume of EV powertrain procurement is at a constant rise in the current scenario, owing to the fact that the OEMs are increasingly procuring the powertrains in large quantities to cater to the needs of the manufacturing of existing vehicle models and to test respective newer models practically.

The governments of various countries are undertaking initiatives for reducing custom duty and taxes on various EV components. For instance, in 2019, the Indian government reduced the custom duty on EV components by 5%. This led to a reduction in tax collected through electric vehicles by 5%.  Thus, the support from the government and increasing awareness among the consumers about the ill effects of the emissions are creating an opportunity for ICE vehicle manufacturers to invest in electric vehicle production.

Currently, China is dominating the EV powertrain market in terms of installation, which in turn boosts the demand for the EV powertrain market in the region. China has been the largest automotive market globally over the years. The growth in the automotive sector in China has been achieved mainly through the establishment of various joint ventures with car manufacturers such as Volkswagen, General Motors, and others. According to The International Council on Clean Transportation, China produced around 1,078,000 electric vehicles (passenger cars and light commercial vehicles) in 2018. Also, according to the China Association of Automobile Manufacturers (CAAM) in 2019, battery electric vehicle (BEV) production reached around 1.02 million units, with 3.4% of growth. Whereas, the plug-in hybrid vehicle (PHV) production reached up to 220,000 units. The figure given below highlights the revenue share of India in the Asia-Pacific EV powertrain market in the forecast period:

India EV Powertrain Market Revenue and Forecasts to 2027 (US$ Mn)

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Asia-Pacific EV Powertrain Strategic Insights

Strategic insights for the Asia-Pacific EV Powertrain provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia-Pacific EV Powertrain Report Scope

Asia-Pacific EV Powertrain Regional Insights

The geographic scope of the Asia-Pacific EV Powertrain refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Asia-Pacific EV Powertrain Market - Segmentation

Asia-Pacific EV Powertrain Market – By

Product Type

• Series Hybrid Powertrain
• Battery Electric Vehicle Powertrain
• Series-Parallel Hybrid Powertrain
• Mild Hybrid Powertrain
• Parallel Hybrid Powertrain

Asia-Pacific EV Powertrain Market –

By Application

• Passenger Cars
• Commercial Vehicles

Asia-Pacific EV Powertrain Market – By

Country

• China
• Japan
• India
• South Korea

Asia-Pacific EV Powertrain Market -Companies Mentioned

• Continental AG
• Cummins Inc.
• Dana Limited
• Magna International
• Mahle GmbH
• Maxim Integrated
• Robert Bosch GmbH
• Tata Elxsi
• Valeo SA
• ZF Friedrichshafen AG