Electric Vehicle Powertrain Market is expected to register a CAGR of ~34.70% from 2022 to 2030 and hold a value of over USD 956.44 billion by 2030
Market overview According to MRFR analysis, the global Electric Vehicle Powertrain Market is expected to register a CAGR of ~34.70% from 2022 to 2030 and hold a value of over USD 956.44 billion by 2030. The collection of parts that a vehicle's power train consists of is what propels the vehicle forward. The battery and electric motor are both parts of the electric powertrain, which also provides power transmission. This transfer of power is used to create the power that is later used to move or drive the vehicle. Performance, comfort, and safety are the defining characteristics of an electric powertrain for a vehicle. As a result, producers of powertrain systems and components have begun to use electric powertrains in their cars to cut down on fuel use. The driving shaft or propeller shaft, clutch or torque converter, differential, axles, and engine and gearbox are additional important parts of the powertrain. It is frequently used in battery electric vehicles (BEV), which run