According to the research report titled ‘Electric Powertrain Market Size, Share, & Trend Analysis Report By Powertrain Product Type; By Vehicle Type; By Regions, Segments & Forecast, 2019 – 2026’, available with Market Study Report, global electric powertrain market valuation is expected to reach USD 604.74 billion by the end of the forecast period 2019-2026. 
 

According to industry experts, global electric powertrain market growth is largely driven by increasing development and adoption of electric vehicles owing to growing environmental concerns. Moreover, favorable government initiatives in developed nations like U.S., Japan, China, and European economies, along with inflating oil prices are rendering a positive impact on the industry outlook.
 

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For the initiated, unlike conventional vehicles that rely on energy generated from a combustion engine which is powered by diesel or petrol, electric vehicles operate on energy drawn from a battery with the help of an electric motor and transmission.
 

At the present, gasoline vehicles are more popular than diesel ones, however, will lose out in the near future as gasoline price is soaring in comparison to diesel. This in turn is compelling automakers to manufacture hybrid powertrains to reduce dependency on fuel, thereby enhancing the global electric powertrain market growth. Furthermore, the demand for EVs is slated to spike as fossil fuel will go extinct in few decades.
 

Based on product type, battery electric vehicle (BEV) segment is contributing significantly to the overall electric powertrain market remuneration as this vehicle type is utilized extensively in the current organizational framework. A BEV is solely reliant on electric energy, whereas plug-in hybrid electric vehicle (PHEV) take assistance in charging from wall-mounted power supply. The series hybrid powertrains, designed with a single path for powering wheels, are the least preferred in current industry setup.
 

As per the geographical analysis of worldwide electric powertrain market, Japan, U.S, China and South Korea account for majority of the total production and these nations have attracted multi-billion-dollar investments to develop new generation of EVs.
 

Global electric powertrain market is mildly competitive and consolidated due a strong presence of a number of players in this field, including AllCell Technologies, LLC, BMW Motorrad International, Jayem Automotives Pvt. Ltd., Dana TM4, EptDyn, ATS Automation Tooling Systems, Inc., IET S.p.A., ALTe Technologies, ArcCore AB, and AVL List GmbH.