Press release
Automotive Retrofit Electric Vehicle Powertrain Market Size, Share , Latest Trends, Key Players And Forecast To 2033
"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.
Automotive Retrofit Electric Vehicle Powertrain Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $97.44 billion In 2028 At A CAGR Of 8.7%.
The automotive retrofit electric vehicle powertrain market size has grown strongly in recent years. It will grow from $63.93 billion in 2023 to $69.69 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to environmental awareness, government incentives, increasing fuel prices, rising consumer interest, regulatory pressure, infrastructure development.
The automotive retrofit electric vehicle powertrain market size is expected to see strong growth in the next few years. It will grow to $97.44 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to cost reductions, global electrification initiatives, market competition, consumer preferences, smart cities initiatives. Major trends in the forecast period include increasing demand for retrofit solutions, advancements in battery technology, regulatory support and incentives, technological innovations in powertrain components, retrofit kits and solutions expansion, partnerships and collaborations.
Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=9530&type=smp
Automotive Retrofit Electric Vehicle Powertrain Market Major Segments
The automotive retrofit electric vehicle powertrain market covered in this report is segmented -
1) By Component Type: Inclusive Conversion Kit, Electric Motor, Battery, Controller, Charger, Other Components
2) By Vehicle type: Two Wheelers, Passenger Vehicle, Commercial Vehicle
3) By Electric Vehicle Type: All Electric Vehicle Battery, Plug-in Hybrid Vehicle, Hybrid Vehicle
Key Driver - Surging Demand For Electric Vehicles Fuels Growth In The Automotive Retrofit Electric Vehicle Powertrain Market
Increasing demand for electric vehicles is expected to propel the growth of the automotive retrofit electric vehicle powertrain market going forward. The electric vehicle is automotive that can be powered by an electric motor that takes electricity from a battery and can be charged from an external source. Automotive retrofit electric vehicle powertrain is used to power electric vehicles and removes the need for an internal combustion engine providing low maintenance, and minimal noise pollution, as a result, increasing demand for electric vehicles increases the demand for the automotive retrofit electric vehicle powertrain. For instance, in September 2022, according to the Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million units sales. Additionally, the sales of electric cars worldwide in 2021 have a sales share of 4%. Therefore, increasing demand for electric vehicles is driving the automotive retrofit electric vehicle powertrain market.
Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=9530&type=smp
Prominent Trend - Arai-Approved Electric Powertrain Innovation For Retrofitting Petrol Scooters
Product innovations are a key trend gaining popularity in the automotive retrofit electric vehicle powertrain. Major companies operating in automotive retrofit electric vehicle powertrains are focused on developing new innovative solutions to strengthen their position in the market. For instance, in January 2023, Starya mobility, an Indian-based electric vehicle company introduced an indigenously built ARAI-approved electric powertrain that includes a 5.5kw proprietary PMSM motor & controller. This controller converts a petrol scooter to pure electric and can withstand climatic conditions. Internal combustion engines and gasoline tanks would be replaced, respectively, by an electric powertrain that provides the necessary power for the vehicle to move on the road surface.
Automotive Retrofit Electric Vehicle Powertrain Market Players
Major companies operating in the automotive retrofit electric vehicle powertrain market report are Robert Bosch GMbH, Mitsubishi Electric Coroporation, Magna International Inc., Altigreen Propulsion Labs - Engineering, Bharath Mobi, Hitachi Astemo Ltd., Delphi Technologies, Continental AG, EV Europe, Etrio, Folks Motor, Transition One, XL Fleet, Johnson Electric Holdings Ltd., ZeroLabs Automotive, SkyQuest Technology, ABB Ltd., BorgWarner, Cummins, Dana Incorporated, Eaton, GKN Automotive, Magneti Marelli, Mahle, Nexteer Automotive, Schaeffler, Valeo, ZF Friedrichshafen, Tesla Inc., BYD Company .
View The Full Report Here - https://www.thebusinessresearchcompany.com/report/automotive-retrofit-electric-vehicle-powertrain-global-market-report
Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the automotive retrofit electric vehicle powertrain market in 2023. The regions covered in the automotive retrofit electric vehicle powertrain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Retrofit Electric Vehicle Powertrain Market Report Structure
3. Automotive Retrofit Electric Vehicle Powertrain Market Trends And Strategies
4. Automotive Retrofit Electric Vehicle Powertrain Market - Macro Economic Scenario
5. Automotive Retrofit Electric Vehicle Powertrain Market Size And Growth
…..
27. Automotive Retrofit Electric Vehicle Powertrain Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
Automotive Retrofit Electric Vehicle Powertrain Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $97.44 billion In 2028 At A CAGR Of 8.7%.
The automotive retrofit electric vehicle powertrain market size has grown strongly in recent years. It will grow from $63.93 billion in 2023 to $69.69 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to environmental awareness, government incentives, increasing fuel prices, rising consumer interest, regulatory pressure, infrastructure development.
The automotive retrofit electric vehicle powertrain market size is expected to see strong growth in the next few years. It will grow to $97.44 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to cost reductions, global electrification initiatives, market competition, consumer preferences, smart cities initiatives. Major trends in the forecast period include increasing demand for retrofit solutions, advancements in battery technology, regulatory support and incentives, technological innovations in powertrain components, retrofit kits and solutions expansion, partnerships and collaborations.
Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=9530&type=smp
Automotive Retrofit Electric Vehicle Powertrain Market Major Segments
The automotive retrofit electric vehicle powertrain market covered in this report is segmented -
1) By Component Type: Inclusive Conversion Kit, Electric Motor, Battery, Controller, Charger, Other Components
2) By Vehicle type: Two Wheelers, Passenger Vehicle, Commercial Vehicle
3) By Electric Vehicle Type: All Electric Vehicle Battery, Plug-in Hybrid Vehicle, Hybrid Vehicle
Key Driver - Surging Demand For Electric Vehicles Fuels Growth In The Automotive Retrofit Electric Vehicle Powertrain Market
Increasing demand for electric vehicles is expected to propel the growth of the automotive retrofit electric vehicle powertrain market going forward. The electric vehicle is automotive that can be powered by an electric motor that takes electricity from a battery and can be charged from an external source. Automotive retrofit electric vehicle powertrain is used to power electric vehicles and removes the need for an internal combustion engine providing low maintenance, and minimal noise pollution, as a result, increasing demand for electric vehicles increases the demand for the automotive retrofit electric vehicle powertrain. For instance, in September 2022, according to the Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million units sales. Additionally, the sales of electric cars worldwide in 2021 have a sales share of 4%. Therefore, increasing demand for electric vehicles is driving the automotive retrofit electric vehicle powertrain market.
Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=9530&type=smp
Prominent Trend - Arai-Approved Electric Powertrain Innovation For Retrofitting Petrol Scooters
Product innovations are a key trend gaining popularity in the automotive retrofit electric vehicle powertrain. Major companies operating in automotive retrofit electric vehicle powertrains are focused on developing new innovative solutions to strengthen their position in the market. For instance, in January 2023, Starya mobility, an Indian-based electric vehicle company introduced an indigenously built ARAI-approved electric powertrain that includes a 5.5kw proprietary PMSM motor & controller. This controller converts a petrol scooter to pure electric and can withstand climatic conditions. Internal combustion engines and gasoline tanks would be replaced, respectively, by an electric powertrain that provides the necessary power for the vehicle to move on the road surface.
Automotive Retrofit Electric Vehicle Powertrain Market Players
Major companies operating in the automotive retrofit electric vehicle powertrain market report are Robert Bosch GMbH, Mitsubishi Electric Coroporation, Magna International Inc., Altigreen Propulsion Labs - Engineering, Bharath Mobi, Hitachi Astemo Ltd., Delphi Technologies, Continental AG, EV Europe, Etrio, Folks Motor, Transition One, XL Fleet, Johnson Electric Holdings Ltd., ZeroLabs Automotive, SkyQuest Technology, ABB Ltd., BorgWarner, Cummins, Dana Incorporated, Eaton, GKN Automotive, Magneti Marelli, Mahle, Nexteer Automotive, Schaeffler, Valeo, ZF Friedrichshafen, Tesla Inc., BYD Company .
View The Full Report Here - https://www.thebusinessresearchcompany.com/report/automotive-retrofit-electric-vehicle-powertrain-global-market-report
Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the automotive retrofit electric vehicle powertrain market in 2023. The regions covered in the automotive retrofit electric vehicle powertrain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Retrofit Electric Vehicle Powertrain Market Report Structure
3. Automotive Retrofit Electric Vehicle Powertrain Market Trends And Strategies
4. Automotive Retrofit Electric Vehicle Powertrain Market - Macro Economic Scenario
5. Automotive Retrofit Electric Vehicle Powertrain Market Size And Growth
…..
27. Automotive Retrofit Electric Vehicle Powertrain Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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