Electric Vehicle Powertrain Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The EV Powertrain Market Report is Segmented by Component Type (Transmission, Motors, and Battery), Propulsion Type (Battery Electric Vehicle and Plug-In Hybrid Electric Vehicle), Vehicle Type (Passenger Car and Commercial Vehicle), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Report Offers Market Size and Forecasts for Electric Vehicle Powertrains in Terms of Value (USD) for all the Above Segments.

Electric Vehicle Powertrain Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Electric Vehicle Powertrain Market Size

Electric Vehicle Powertrain Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 221.50 Billion
Market Size (2030) USD 500.33 Billion
CAGR (2025 - 2030) 17.70 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Electric Vehicle Powertrain Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Electric Vehicle Powertrain Market Analysis

The Electric Vehicle Powertrain Market size is estimated at USD 221.50 billion in 2025, and is expected to reach USD 500.33 billion by 2030, at a CAGR of 17.7% during the forecast period (2025-2030).

The electric vehicle (EV) powertrain market is experiencing unprecedented growth, driven by the global shift toward sustainable transportation, technological advancements, and supportive government policies. This market encompasses the components and systems that generate power and deliver it to the wheels of an electric vehicle, including the battery, electric motor, power electronics, transmission, and other related systems.

The primary driver of the EV powertrain market is the increasing demand for electric vehicles, propelled by the urgent need to reduce greenhouse gas emissions and combat climate change. Governments across the world are implementing stringent emissions regulations and offering incentives to encourage the adoption of EVs. For instance, countries like Norway, Germany, and China provide substantial subsidies, tax benefits, and other incentives to promote EV sales, significantly boosting the powertrain market.

Technological advancements play a crucial role in the growth of the EV powertrain market. Innovations in battery technology, such as the development of solid-state batteries and improvements in lithium-ion battery efficiency, are enhancing the range, performance, and affordability of electric vehicles. Additionally, advancements in electric motors, inverters, and power electronics contribute to more efficient and powerful EV powertrains.

Continued government support through incentives, subsidies, and infrastructure investments is expected to the market's growth. Policies aimed at reducing carbon emissions and promoting sustainable transportation will further accelerate the adoption of electric vehicles. Moreover, ongoing research and development are expected to lead to breakthroughs in battery technology, electric motors, and power electronics. Innovations such as solid-state batteries, wireless charging, and advanced power management systems are expected to enhance the performance and appeal of electric vehicles.

Driven by technological advancements, supportive government policies, and increasing consumer demand for eco-friendly vehicles, the market is set for substantial growth.

Electric Vehicle Powertrain Industry Overview

Few players, such as Robert Bosch GmbH, ZF Friedrichshafen AG, Cummins Inc., Dana Incorporated, GKN PLC, and Magna International, dominate the electric vehicle powertrain market. The players are making partnerships, acquisitions, launching new products, and investing to be ahead of the competition.

 June 2023: Zhongshan Broad-ocean Motor Co. Ltd announced plans to build the "Broad-ocean Motor New Energy Vehicle Powertrain System and Parts (Chongqing) R&D and Manufacturing Site" in Chongqing's Yubei District. The project is planned to have a project company established in an area under the jurisdiction of the Chongqing Innovation Economy with a total investment of about CNY 1 billion (USD 139.9 million) and a land area of about 73,333 sq.m.

Electric Vehicle Powertrain Market Leaders

  1. GKN PLC

  2. Magna International

  3. Hitachi Automotive Systems Ltd

  4. Robert Bosch

  5. Cummins Inc.

  6. *Disclaimer: Major Players sorted in no particular order
Electric Vehicle Powertrain Market Concentration
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Electric Vehicle Powertrain Market News

  • April 2023: Modern Automotives became the first Indian company to receive approval for deliveries of Differential Pinion Shafts to BMW AG Munich for the electric powertrain. The order anticipates delivering 2.5 million units by 2034.
  • July 2023: Mercedes-Benz introduced the all-new AMG performance version of its GLC SUV. The powertrain is designed and built in Germany at the Affalterbach plant.
  • June 2023: Lucid Group Inc. announced a technology partnership with Aston Martin to provide Aston Martin with Lucid-engineered and manufactured electric powertrain technology to power future Aston Martin battery electric vehicles (BEV). It has an ultra-twin motor drive unit, battery technology, and the Wunderbox, Lucid Motors onboard charging unit. It will contribute to introducing the first pure electric Aston Martin model in 2025. Aston Martin's all-new in-house Battery Electric Vehicle (BEV) platform will be built around access to Lucid's current and future powertrain and battery technology.

EV Powertrain Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Drivers
    • 4.1.1 Increasing Sales of Electric Vehicles are Expected to Drive the Market
  • 4.2 Market Restraints
    • 4.2.1 Lack of Infrastructure May Hamper the Market's Growth
  • 4.3 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Component
    • 5.1.1 Transmission
    • 5.1.2 Motors
    • 5.1.3 Battery
  • 5.2 Propoulsion Type
    • 5.2.1 Battery Electric Vehicle
    • 5.2.2 Plug-In Hybrid Electric Vehicle
  • 5.3 Vehicle
    • 5.3.1 Passenger Car
    • 5.3.2 Commercial Vehicle
  • 5.4 Geography
    • 5.4.1 North America
    • 5.4.1.1 United States
    • 5.4.1.2 Canada
    • 5.4.1.3 Rest of North America
    • 5.4.2 Europe
    • 5.4.2.1 Germany
    • 5.4.2.2 United Kingdom
    • 5.4.2.3 France
    • 5.4.2.4 Norway
    • 5.4.2.5 Rest of Europe
    • 5.4.3 Asia-Pacific
    • 5.4.3.1 China
    • 5.4.3.2 Japan
    • 5.4.3.3 India
    • 5.4.3.4 South Korea
    • 5.4.3.5 Rest of Asia-Pacific
    • 5.4.4 Rest of the World
    • 5.4.4.1 South America
    • 5.4.4.2 Middle East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles*
    • 6.2.1 GKN PLC (Melrose Industries PLC)
    • 6.2.2 Magna International Inc.
    • 6.2.3 Hitachi Automotive Systems Ltd
    • 6.2.4 Bosch Limited
    • 6.2.5 Cummins Inc.
    • 6.2.6 AVL List GmbH
    • 6.2.7 Mitsubishi Electric Corp
    • 6.2.8 BorgWarner Inc.

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Electric Vehicle Powertrain Industry Segmentation

A powertrain is a set of components that generate power to move the vehicle. The electric powertrain encompasses the battery and electric motor. It offers transmission of power, which is used to produce the power that is further utilized to drive or move the vehicle. The electric powertrain of a vehicle is defined by its performance, comfort, and safety.

The EV powertrain market is divided into segments based on component type, including transmission, motors, and battery. Furthermore, it's categorized by propulsion type, distinguishing between battery electric vehicles and plug-in hybrid electric vehicles. Additionally, the market is segmented by vehicle type, covering passenger cars and commercial vehicles. Lastly, the geographical aspect includes North America, Europe, Asia-Pacific, and the Rest of the World.

The report offers market size and forecasts for the electric vehicle powertrain market in terms of value (USD) for all the above segments.

Component Transmission
Motors
Battery
Propoulsion Type Battery Electric Vehicle
Plug-In Hybrid Electric Vehicle
Vehicle Passenger Car
Commercial Vehicle
Geography North America United States
Canada
Rest of North America
Europe Germany
United Kingdom
France
Norway
Rest of Europe
Asia-Pacific China
Japan
India
South Korea
Rest of Asia-Pacific
Rest of the World South America
Middle East and Africa
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EV Powertrain Market Research FAQs

How big is the Electric Vehicle Powertrain Market?

The Electric Vehicle Powertrain Market size is expected to reach USD 221.50 billion in 2025 and grow at a CAGR of 17.70% to reach USD 500.33 billion by 2030.

What is the current Electric Vehicle Powertrain Market size?

In 2025, the Electric Vehicle Powertrain Market size is expected to reach USD 221.50 billion.

Who are the key players in Electric Vehicle Powertrain Market?

GKN PLC, Magna International, Hitachi Automotive Systems Ltd, Robert Bosch and Cummins Inc. are the major companies operating in the Electric Vehicle Powertrain Market.

Which is the fastest growing region in Electric Vehicle Powertrain Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Electric Vehicle Powertrain Market?

In 2025, the Asia Pacific accounts for the largest market share in Electric Vehicle Powertrain Market.

What years does this Electric Vehicle Powertrain Market cover, and what was the market size in 2024?

In 2024, the Electric Vehicle Powertrain Market size was estimated at USD 182.29 billion. The report covers the Electric Vehicle Powertrain Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Electric Vehicle Powertrain Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

EV Powertrain Industry Report

The EV Powertrain Market Report is segmented by component type, propulsion type, vehicle type, and geography. The report offers market size and forecasts for electric vehicle powertrains in terms of value for all the above segments. The analysis includes a market forecast outlook and historical overview. Statistics for the electric vehicle powertrain market share, market size, and revenue growth are provided. Market trends, market segmentation, and market value are examined in detail.

Industry reports highlight the market growth and market forecast for the electric vehicle powertrain sector. This industry analysis covers industry size, industry trends, and industry statistics, providing a comprehensive market overview. The market report includes insights into market leaders and market outlook, offering a thorough industry review.

Market research and market data from research companies are utilized to provide an in-depth industry outlook. The market predictions and industry sales data are included in the report example, which is available as a report PDF for further review. Industry information and industry research are crucial for understanding the market dynamics and future market growth.

The report covers industry trends and market forecast to offer a detailed market analysis. Additionally, market leaders and market outlook are discussed to provide a complete picture of the market landscape. The industry statistics and market segmentation are explored to understand the market size and growth rate.

In summary, the electric vehicle powertrain market report provides a comprehensive industry overview, including industry reports, industry research, and market analysis. The report example, available as a report PDF, includes market data, market predictions, and market review. The industry information and industry outlook are essential for understanding the market value and future industry trends.