5 Key Insights on US$160 Billion Opportunity in Europe Electric Powertrain Market: Ken Research

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Driven by Incentivizing Government Policies, Rising Concerns over Environment, and Surging Fuel Prices the Electric Powertrain Market in Europe is forecasted to cross US$160 Bn by 2027 says Ken Research Study.

Electric Powertrain forms the structural core of an Electric Vehicle. In the European Union countries, the thrust towards a shift from traditional ICE vehicles to Electric Vehicles is very high and enjoys the direct sponsorship of national governments in the form of subsidies, thereby driving the Electric Powertrain market. Moreover, the reduced price of EV batteries is also expected to boost the market. However, the region requires a more robust charging station infrastructure that will be uniformly distributed throughout the region.

1.   Electric Vehicles Share in Europe’s New Car Registrations Has Seen Phenomenal Growth of almost 10 times between 2017 and 2021

Analysis of the available new car registration numbers in the EU shows a significant shift towards EVs from ICEs. In 2017, more than 11.9 million new ICE cars were registered in the EU market. In comparison, the number of new Electric Vehicles registered was significantly low at about 0.53 million including HEVs, BEVs, and PHEVs. However, by 2021 the number of new ICE cars registered came down to around 6.1 million while the number of new Electric Vehicles registered went up to more than 3.7 million. This translated into a jump in the share of Electric Vehicles within total new car registrations from just ~4% in 2017 to ~38% in 2021.

2.   Concerted Efforts by the European Union to Reduce Net Greenhouse Gas Emissions by ~ 50% between 2000 and 2030 have resulted in an Exponential Surge in EV Sales and the Demand for Electric Powertrains

The European Union wants to ensure that there is no net emission of Greenhouse gases by 2050. The European Green Deal is at the center of this mission, which has gained further traction since the COVID-19 pandemic broke out. The Green Deal has been earmarked with an allocation of one-third of the 1.8 trillion Euro investments from the NextGenerationEU Recovery Plan. Moreover, it will also be financed by a separate EU budget, spanning over seven years. The short-term mission of the EU in achieving its goal is to bring down net greenhouse gas emissions by almost 50% by 2030, compared to 2000 levels.

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3.   Lack of Uniform Distribution of Charging Station Infrastructure across the European Union, 70% share concentrated in just 3 countries, May Restrict the Growth of the Electric Powertrain Market

One of the key challenges for the Electric Powertrain industry found in the research study is that the Electric Vehicle charging infrastructure within the region is still heavily concentrated within a select few countries. Unless other countries ramp up their charging infrastructure, there may be a stagnation in EV sales and the demand for Electric Powertrains. As of Mid-2021, nearly 70% of all charging stations within Europe were concentrated in just three countries – the Netherlands (66,665), France (45,751), and Germany (44,538).

4.   The Electric Powertrain Cost is expected to Witness a Major Drop by 2030 from 2020 Levels, Owing to Declining Component Prices, Especially That of Batteries by ~ 46% and others by ~ 10%

A major factor favouring the growth of Electric Powertrain demand in Europe as found in the analysis of available number is the significant drop in the cost to build an Electric Vehicle, owing to a major decline in the most significant component of the set-up, the battery. Between 2020 and 2030, the cost of batteries in a European compact-class BEV is projected to come down by ~ 46% from around 8,000 Euros to 4,300 Euros.

5.   European Countries Offer Significantly High Subsidies on EV Purchase When Compared with Other Major EV Promoting Countries like China

Subsidies provided by the EU countries for BEV purchase were already substantially high. As per the insights found from International Energy Association statistics, as of 2020 major European countries like Germany and France reportedly offer more than double the subsidies offered by China which are leading EV production as well as aggressively promoting their adoption within the domestic market. Further, over and above the amount mentioned below, these countries decided to offer additional subsidies in 2020.

Key Segments Covered in Europe Electric Powertrain Market: –

  • Europe Electric Powertrain Market by Component
  • Motor/Generator
  • Battery
  • Battery Management System (BMS)
  • Thermal Management System
  • DC/AC Converter
  • DC/DC Converter
  • Body Control Module
  • On-Board Charger
  • HEV
  • PHEV
  • BEV
  • BEV Powertrain
  • Series Hybrid Powertrain
  • Parallel Hybrid Powertrain
  • Series-Parallel Hybrid Powertrain
  • Passenger Cars
  • Commercial Vehicles
  • Germany
  • France
  • United Kingdom
  • Netherlands
  • Sweden
  • Rest of Europe (Belgium, Italy, Denmark, Norway, Finland, Portugal, Spain, Austria, Romania and Others)

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Key Topics Covered in the Report: –

  • Snapshot of Europe Electric Powertrain Market
  • Industry Value Chain and Ecosystem Analysis
  • Market size and Segmentation of the Europe Electric Powertrain Market
  • Historic Growth of Overall Europe Electric Powertrain Market and Segments
  • Competition Scenario of the Market and Key Developments of Competitors
  • Porter’s 5 Forces Analysis of Europe Electric Powertrain Industry
  • Overview, Product Offerings, and SWOT Analysis of Key Competitors
  • Covid 19 Impact on the Overall Europe Electric Powertrain Market
  • Future Market Forecast and Growth Rates of the Total Europe Electric Powertrain Market and by Segments
  • Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
  • Analysis of Electric Powertrain Market in Major European Countries
  • Major Production / Consumption Hubs in the Major European Countries
  • Major Production/Supply and Consumption/Demand Hubs in Each Major Country
  • Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
  • Overview of Notable Emerging Competitor Companies within Each Major Country

 Companies Mentioned in the Report: –

  • Major Competitors in Electric Powertrain Mentioned in the Report
  • Bosch
  • Magna
  • Denso
  • BorgWarner
  • Continental AG
  • Dana
  • Cummins
  • ZF
  • Mitsubishi
  • Eaton
  • Tesla
  • Siemens
  • AVL
  • Hitachi Astemo, Ltd.
  • Infineon Technologies AG
  • Hanon Systems
  • BWS e-Mobility
  • Vitesco Technology
  • Voltabox AG
  • EV Europe
  • Smesh-E-Axle
  • Energy Storage Solutions
  • Advanced Electric Machines
  • Faradion
  • Britishvolt
  • Northvolt AB
  • Einride
  • Voltatrucks
  • Raydiall Automotive
  • Verkor
  • Nawa Technologies

Time Period Captured in the Report

  • Historical Period: 2017-2021
  • Forecast Period: 2022-2027F

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Electric Powertrain Manufacturer Companies
  • Electric Powertrain Distributors
  • Electric Powertrain Component Suppliers
  • Potential Investors in Electric Powertrain Companies
  • Electric Mobility Association
  • Electric Vehicle Charging Sector Organizations
  • Automobile Companies
  • Battery Equipment Companies
  • Automotive Research & Development Institutes
  • Government Departments of Transportation
  • Ministries of Clean Energy
  • Ministries of Automotive Industry
  • Environment Control and Emission Regulatory Organizations
  • Consulting Companies in the electric mobility sector
  • BEV and Hybrid Powertrain Manufacturers
  • Transportation Industry Regulatory Organizations
  • Renewable Energy Research Organizations
  • Electric Vehicle Industry Investment Funds/Banks

For More Information on the Research Report, refer to below links: –

Europe Electric Powertrain Market Analysis

Contact Us: –

Ken Research

Ankur Gupta, Head Marketing & Communications




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