The Global Electric Powertrain Market is anticipated to reach USD 568.6 billion by 2026 according to a new study published by Polaris Market Research. Electric powertrains are recently the latest trends in the automotive industry. The rising trend of developing a low-carbon environment in an effort to prevent global warming and make the most effective use of various energy forms, has led to the development of the electric vehicles. In the automotive industry, carbon dioxide regulations are especially being overhauled in the U.S., Japan, China, and the European countries, accelerating electric vehicle technology developments to reduce future carbon emissions. Moreover, consumers are getting increasingly vulnerable to the increasing oil prices and are being attracted towards the green technologies.
Battery electric vehicle powertrains are the most widely used product types in the present industry scenario. These are powered completely on electric energy, typically a big electric motor and a large battery pack. The mild hybrid electric powertrains are the least electrified typ of hybrid electric powertrains. MHE powertrains are considered as conventional combustion engine fitted with an outsized starter motor which is also used as generator that is typically an integrated starter generator or belted alternator starter (BAS), and oversized battery that powers the vehicle and is recharged by the motor.
The series hybrid electric powertrains are among the least used product categories in the present industry scenario. In this type, it is designed with a single path for powering the wheels. This type of powertrains operates in several modes including engine only traction, electric only traction, hybrid traction, engine traction and battery charging, battery charging and no traction, regenerative braking and hybrid battery changing.
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The parallel hybrid electric powertrains are designed with two parallel paths for powering the vehicle that includes the electrical and engine path. This transmission couples the generator/motor and engine that allows either both or anyone to power the wheels. PHEV operate in five modes and this product category has been gaining importance in the recent years.
Electric powertrains are energy-efficient alternatives in compliance with the environment, however, also have certain limitations. Two most critical disadvantages associated with these vehicles include lead emissions from the batteries and energy storage issues concerning electrical energy.
The United States, China, South Korea, Japan, and Europe majorly account for the global electric powertrain production. Among these, Japan is one of the largest producers of battery packs for the electric powertrains. These countries constitute of numerous manufacturers, who have made or promised multi-billion dollars investment to develop an array of new electric models. Asia is the most popular region for the growth of electronic vehicles with China as the most significant global player.
The global electric powertrain market is moderately competitive and consolidated on account of presence of several large-scale market players. Some of the major players operating in this market include AVL LIST GmbH, ARC CORE, ALTe Technologies, IET S.p.A., ATS Automation Tooling Systems Inc., EptDyn, TM4, Jayem Automotives, BMW Motorrad International, and AllCell Technologies LLC.