Electric Powertrain Market Definition and Overview
An electric powertrain powers the vehicle by producing energy to propel the vehicle forward. It comprises various components such as electric motors which converts electric energy into mechanical energy and delivers it to wheels through single transmission, a battery to store energy that is needed to propel the vehicle, DC-DC converter which helps to distribute power to different systems in a vehicle and a charger to control the amount of the current flowing in the battery pack. It also has several advantages such as higher efficiency, an electric vehicle converts 80% of the energy used to its usable power whereas the conventional vehicle converts only 20%, low- maintenance cost, high durability over an internal combustion engine (ICE) in conventional cars.
Europe Electric Powertrain Market Outlook, Drivers, and Challenges
The electric powertrain market in Europe is expected to grow at a rate of more than 10% CAGR over the next five years. The electric powertrain vehicles are predicted to be a leading future component of Europe’s mobility system, as it helps in the reduction of the impacts on climate change, health, and ecosystem. Major automobile companies such as BMW Group, Daimler, Ferrari, Ford etc. are shifting away from ICE vehicles to electric vehicles, leading to fully electrified sales over the coming years. During the first quarter 2022, the market share for Battery Electric Vehicles (BEVs) doubled as the sales across the European continent increased. Government policies, incentives, falling battery prices, and declining lifetime cost of ownership are also some of the dominant factors that are anticipated to propel the growth of the market during the forecast period.
Request For Sample Report @ https://www.kenresearch.com/blog/request-for-sample-report/?Frmdetails=NzEwMjk=
The government of Europe plans to shift away from combustion engine-powered vehicles and proposed a ban on the sale of ICE vehicles by 2035, seeking to step up against climate change through the faster adoption of electric vehicles. Furthermore, incentives are contributing to the growth of the market as there are seven European countries such as Belgium, France, UK, Germany, Norway, Netherland, and Sweden offering bonus payments and reducing tax. Countries like UK, France, and Norway are aiming to completely ban the sales of internal combustion (ICE) vehicles by 2030 while countries like Germany and Spain are targeting to ban the sales by 2040.
To fully decarbonize the EU road transport by 2030, electrification plays a vital role in the demand for electric vehicles. Currently, passenger cars contribute 12% of carbon dioxide (CO2) emissions in Europe. By increasing environmental awareness and reducing emissions, more people will be encouraged to opt for electric cars. Also, manufacturers are focusing on initiating innovative and efficient electric powertrain solutions for all types of vehicles which is considered to be an important driving factor of market growth.
Making battery management systems cost-effective with high performance is quite challenging, resulting in EV less attractive as it will be expensive. Lack of fast charging infrastructure is also a considerable roadblock as there is limited access to public charging stations in Europe.
Europe Electric Powertrain Market Value Chain Analysis
The electric powertrain value chain consists of raw material suppliers, components manufacturers, electric powertrain manufacturers/assemblers, and electric vehicle manufacturers (end users). Raw materials collected are processed and sent to further manufacturing. The materials are then used for the production of the vehicle components. The component includes electric motor, transmission, battery, DC/AC, and DC/DC converters, capacitors, the braking system, structural components, wheels, and the base vehicle. Electric powertrain manufactures then assemble to prepare the final product.
Europe Electric Powertrain Market Segmentation
The Electric Powertrain Market can be split into two major categories based on Vehicle type as Passenger Cars, and Commercial Cars. Motor/Generator, Battery, Battery Management System (BMS), Thermal Management System, DC/AC Converter, DC/DC Converter, Body Control Module, and On-Board Charger are the Components-based segments in the market. Based on the Electric Vehicle type, the market is categorized as Hybrid Electric Vehicle (HEV)/ Plug-In Hybrid Electric Vehicle (PHEV), Battery Electrical Vehicle (BEV), and Mild Hybrid Electrical Vehicles (MHEV). Based on powertrain type, the market can be segmented as BEV Powertrain, MHEV Powertrain, Series Hybrid Powertrain, Parallel Hybrid Powertrain, and Series-Parallel Hybrid Powertrain. Geographically, the major country markets in Europe are Norway, The Netherlands, Germany, UK, and Sweden.
Request For Sample Report @ https://www.kenresearch.com/blog/request-for-sample-report/?Frmdetails=NzEwMjk=
Europe Electric Powertrain Market Competitive Landscape of Major Competitors
Some key competitors in the Europe electric powertrain market are Bosch, Continental AG, Magna International Inc., Hitachi, DENSO Corporation, AVL, Siemens and Tesla.
Impact of COVID-19 on Europe Electric Powertrain Market
The pandemic of Covid-19 had a positive impact on Europe electric powertrain market in 2020. According to the International Council on Clean Transportation, the European electric vehicle (EV) market experienced remarkable growth in 2020, posting a 143% increase in sales of passenger electric cars from 2019. The sales in 2020 made Europe the biggest EV market globally, surpassing China and the US. Although sales of all new cars in Europe decreased by 20%, the increase in EV sales boosted the EV share to 11%. Both battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV) have jumped into the air, not only in terms of market share but also in overall terms. In Germany, sales of PHEV vehicles from January to June increased from 47,584 in 2019 to 93,848 in 2020. Similar trends were observed across other countries in Europe.
Key Segments Covered in Europe Electric Powertrain Market:-
Europe Electric Powertrain Market By Component
Motor/Generator
Battery
Battery Management System (BMS)
Thermal Management System
DC/AC Converter
DC/DC Converter
Body Control Module
On-Board Charger
Europe Powertrain Market By Electric Vehicle Type
Hybrid electric vehicle (HEV) / Plug-In Hybrid Electric Vehicle (PHEV)
Battery Electric Vehicle
Mild Hybrid Electric Vehicles (MHEVs)
Request For Sample Report @ https://www.kenresearch.com/blog/request-for-sample-report/?Frmdetails=NzEwMjk=
Europe Electric Powertrain Market By Powertrain Type
BEV Powertrain
MHEV Powertrain
Series Hybrid Powertrain
Parallel Hybrid Powertrain
Series-Parallel Hybrid Powertrain
Europe Electric Powertrain Market By Vehicle Type
Passenger Cars
Commercial Vehicles
Europe Electric Powertrain Market By Geography and Major Countries:-
Germany
UK
France
The Netherlands
Sweden
Key Competitors in Europe Electric Powertrain Market:-
Bosch
Continental AG
Magna International Inc.
Hitachi
DENSO Corporation
AVL
Siemens
Tesla
Time Period Captured in the Report:-
Historical Period: 2017-2021
Forecast Period: 2022-2027F
Request For Sample Report @ https://www.kenresearch.com/blog/request-for-sample-report/?Frmdetails=NzEwMjk=
Key Target Audience:-
Electric Vehicle Manufacturers
Battery Manufacturers
Vehicle Electronics Manufacturers
Electric Vehicle Motor Manufacturers
Automobile Technology Research Organizations
EV Charging Solution Providers
Automobile Manufacturing Industry Associations
Automobile Regulatory Organizations
Environment Control and Emission Regulatory Organizations
Transportation Ministries
Electric Vehicle Industry Forums
Raw Material Suppliers for Electric Vehicles
Components Suppliers for Electric Vehicles
Potential Investors in Electric Vehicle Companies
For any queries or feedback, reach out to the author at Support@kenresearch.com
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
