November 30, 2021, 07:30 US Eastern Time | Source: Global Market Insights, Inc. Global Markets Insights, Inc.
Selbyville, Delaware, November 30, 2021 (Global News Agency)-
According to the latest research of Global Market Insights Inc., by 2027, the market revenue of automotive electric drive system components is expected to reach 170 billion U.S. dollars. The increasing demand for alternative fuel vehicles to curb greenhouse gas emissions in the transportation sector and reduce environmental damage caused by traditional vehicles has led to government intervention.
Participants in the automotive electric drivetrain component industry are taking measures to improve battery power storage and higher output. Mature manufacturers and suppliers are integrating DC/AC inverters and other components to improve efficiency. In 2017, Bosch acquired Seeo Inc., a battery start-up company, to produce a 50-kilowatt-hour battery pack weighing only 190 kg.
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The DC/DC converter part will observe a compound annual growth rate of more than 25% in the automotive electric drive system component market. It is a power converter; it converts DC power from one voltage level to another. In a hybrid vehicle, the DC/DC converter can operate in reverse, increasing the power from 12 volts to 48 volts to assist in starting the vehicle or provide backup power for the vehicle.
By 2027, North America will account for more than 15% of the automotive electric drive system parts market, which is mainly due to the huge production and sales of new energy vehicles in North America. In 2020, sales of new energy vehicles in the United States will be around 300,000. In addition, consumers are adopting advanced fuel-efficient vehicles such as HEVs, further increasing the demand for automotive electric drive system components.
Major industry players in the automotive electric drivetrain component market cooperate with electric vehicle original equipment manufacturers for product development. For example, in August 2021, BorgWarner signed contracts with two of China's leading original equipment manufacturers to supply dual inverters for hybrid electric vehicles (HEV) and plug-in hybrid electric vehicles (PHEV).
Some of the key findings from the Automotive Electric Drivetrain Components Market Report include:
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Part of the report table of contents (TOC):
Chapter 3 Industry Insights of Automotive Electric Drive System Components
3.2.1 The impact of COVID-19 on the automotive electric drive system components industry
3.3.4 Value-added at each stage
3.3.5.1 List of manufacturers of key components of automotive electric drive
3.3.5.2 List of key/potential customers
3.4 Pricing analysis (including the impact of COVID-19)
3.6.5 Middle East and Africa (MEA)
3.8.1.1 Increase financial incentives and expenditures to support infrastructure
3.8.1.2 Strict emission regulations and measures to reduce carbon footprint
3.8.1.3 The existence of multiple automotive original equipment manufacturers and their investment in technological advancement
3.8.1.4 Increasing demand for clean travel and transportation solutions
3.8.2.2 High battery costs, supply chain constraints
3.13 The impact of COVID-19 on the automotive industry
Global Market Insights Inc., headquartered in Delaware, is a global market research and consulting service provider; it provides joint and customized research reports and growth consulting services. Our business intelligence and industry research reports provide customers with insightful insights and actionable market data designed and presented to help strategic decision-making. These detailed reports are designed through proprietary research methods and can be used in key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.