In a recent published report, Kenneth Research has updated the market report for Electric Powertrain Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Electric Powertrain Market products.
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.
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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.
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
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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.
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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.