Global Automotive Retrofit Electric Vehicle Power train Market was valued at US$ xx Million and expected to reach US$ XX Million by 2027 at a CAGR of xx% during the forecast period.
Global Automotive Retrofit Electric Vehicle Power train Market Definition:
Retrofitting power train to convert internal combustion engine based vehicle into electric the vehicle consists of replacing the existing ICE power train with power train required for the electric vehicle. Power train for electric vehicles incorporates battery pack, dc-ac converter, electric motor, and on-board charger.
The report covers an in-depth analysis of COVID 19 pandemic impact on Global Automotive Retrofit Electric Vehicle Power train Market by region and on the key players’ revenue affected till July 2020 and expected short term and long-term impact on the market.
Global Automotive Retrofit Electric Vehicle Power train Market
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Global Automotive Retrofit Electric Vehicle Power train Market Dynamics
The improvement in the global sale of vehicles over the subsequent years is the primary driving factor for the growth in the Automotive Retrofit Electric Vehicle Powertrain Market. The sale of vehicles is driven by the growth in middle-class families around the globe and increasing levels of disposable income. The UN’s 2030 agenda for sustainable development are driving the regulatory reforms in the member nations. Government regulations on the emission standards of the vehicle coupled with the favorable policies in retrofitting electric kits are factors contributing to the success of the electric power train retrofitting market.
Fluctuating petroleum based fuel prices and expansion of electric charging infrastructure fuelled by the incentives offered by the governments around the world are adding to the growth in the Global Automotive Retrofit Electric Vehicle Power train Market.
Global Automotive Retrofit Electric Vehicle Power train Market Segment Analysis
Aftermarket segment is expected to be the largest contributing segment with a CAGR of xx% during the forecast period. The compatibility of the aftermarket segment to integrate the power trains into vehicles manufactured by different brands offers a competitive advantage. An increase in the incorporation of the companies offering retrofitting support to the end-users is expected to be the driving factor for the segment.
Global Automotive Retrofit Electric Vehicle Power train Market Regional Analysis
Global Automotive Retrofit Electric Vehicle Power train Market1
Europe is expected to be the dominating regions during the forecast period growing with a CAGR of xx%. Stringent European Union’s vehicle emission norms, government regulations on the production of petrol & diesel vehicles, and presence of the well-established automotive manufacturers are expected to be the contributing factor for the dominance of the region. Additionally, the increasing penetration of the aftermarket players offering affordable electric kits and retrofitting services is expected to supplement the rise in demand.
Global Automotive Retrofit Electric Vehicle Power train Market Recent Developments
On November 2020, General Motors stated that the company has developed the electric kit to retrofit conventional vehicles which will be offered to the market from 2021.
The objective of the report is to present a comprehensive analysis of the Global Automotive Retrofit Electric Vehicle Power train Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Automotive Retrofit Electric Vehicle Powertrain Market dynamics, structure by analyzing the market segments and project the Global Automotive Retrofit Electric Vehicle Power train Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Automotive Retrofit Electric Vehicle Power train Market make the report investor’s guide.
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Global Automotive Retrofit Electric Vehicle Power train Market, by Vehicle Type
• Passenger Vehicle
• Commercial vehicle
Global Automotive Retrofit Electric Vehicle Power train Market, by Component
• Electric Motor
• High Voltage Battery
• Controller
• On Board Charger
• Transmission System
Global Automotive Retrofit Electric Vehicle Power train Market, by Distribution Channel
• Original Equipment Manufacturers (OEMs)
• Aftermarket
Global Automotive Retrofit Electric Vehicle Power train Market, by Region
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa
Global Automotive Retrofit Electric Vehicle Power train Market, Major Players
• Transition One
• XL Fleet
• Robert Bosch GmbH
• Rexnamo Electro Pvt Ltd.
• BHARAT MOBI
• eTrio technologies
• Altigreen
• General Motors
• Delphi Technologies
• Mitsubishi Electric
• 2CV Mehari Club Cassis
• NPP Itelma
• Magna International Inc.
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