The EV powertrain market in North America is expected to grow from US$ 4.40 Bn in 2018 to US$ 9.71 Bn by the year 2027. This represents a CAGR of 9.3% from the year 2019 to 2027.
The automotive industry is expanding at a rapid rate over the years across the globe. The internal combustion engine (ICE) vehicles, as well as the electric vehicles (EV) manufacturers, are pacing up their production volumes to meet the continually rising demand from the customers. The auto industry is expected to be driven by electric vehicles in the near future, owing to the rising awareness among the vehicle customers, governmental strategies to reduce carbon emission and subsidies towards procuring EVs. These factors are prominently acting as crucial parameters for the growth of EVs.
The automotive industry is experiencing a significant shift from traditional vehicles to electric vehicles. Governments in various countries are taking initiatives to drive the adoption of electric vehicles. For instance, the Government of Canada invested US$ 182.5 million to develop a fast-charging network for electric vehicles. Also, in December 2017, the Federal Government of Canada released its Greening Government Strategy, which aims to reduce greenhouse gas emissions by 80% by 2050.
Currently, the US is dominating the EV powertrain market in terms of installation, which in turn boosts the demand for the EV powertrain market in the region. The electric vehicle market in the US is comprised of battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hybrid electric vehicles (HEVs). Alone among these vehicles, the BEV does not require gasoline at any point during operation, relying solely upon pure electric battery power. The figure given below highlights the revenue share of Mexico in the North America EV powertrain market in the forecast period:
North America EV Powertrain Market - Segmentation
North America EV Powertrain Market – By Product Type
North America EV Powertrain Market – By Application
North America EV Powertrain Market – By Country
North America EV Powertrain Market -Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 4.40 Billion |
| Market Size by 2027 | US$ 9.71 Billion |
| CAGR (2019 - 2027) | 9.3% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America EV Powertrain Market is valued at US$ 4.40 Billion in 2018, it is projected to reach US$ 9.71 Billion by 2027.
As per our report North America EV Powertrain Market, the market size is valued at US$ 4.40 Billion in 2018, projecting it to reach US$ 9.71 Billion by 2027. This translates to a CAGR of approximately 9.3% during the forecast period.
The North America EV Powertrain Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America EV Powertrain Market report:
The North America EV Powertrain Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America EV Powertrain Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America EV Powertrain Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For North America EV Powertrain Market
