Electric Powertrain Market Size & Forecast

The Electric Powertrain Market is expected to reach $288.9 billion by 2031, at a CAGR of 14.7% from 2024 to 2031. The growth of the electric powertrain market is driven by increasing demand for electric vehicles, stringent carbon emission norms, increasing government focus on public transport electrification, and increasing demand for high-performance motors. However, the high purchase costs of electric vehicles are a factor restraining the growth of this market.