Explore more Categories
Artificial Intelligence involves the science and engineering of developing intelligent machines
The manufacturing world is at a cusp of a new revolution that will redefine conventional business models
IoT will have a major impact on businesses and consumers in the future
The world is creating 2.5 exabytes of data daily
Our research seeks to connect-the-dots across multiple trends
Personal Robots are Set to Be a $19 Billion Market
Strategic Analysis of BREXIT and its Implications to Industries, Economies and Societies
iFrost is a digital platform for interactive and dynamic reporting of data.
The TOEs are a great source of information which gives corporates critical information on companies to action for their strategic investments either as an open source platform or to collaborate and to develop successful products
Battery, Motor, and Power Electronics Market will Gain Growth Momentum, and the Revenue is Estimated to be $44.72 Billion by 2030
* Required Fields
Pay by invoice
Electrification in Commercial Vehicles (CV) will increase globally with the framing of strict emission regulations. The growing electric CV market will open up opportunities for new technologies and components that drive the vehicle. This study provides an overview of the key technology trends in electric drive train component market and also provides the component market revenue forecast between 2018 and 2030. Several architectures and types of drive train components in electric CV are studied in brief. Frost & Sullivan analysts predict that the electric drive train market for CV will reach $44.72 billion in revenue in 2030 globally, growing at a CAGR of 17.7% between 2018 and 2030. This research study covers battery, motors, inverters, and wiring harness used in electric CVs.China will clearly dominate, with approximately 64.8% share of the global market by 2030, driven mainly by aggressive incentive structures for electric vehicles, technology readiness, and the installation of recharging stations in large scale. Europe and North America are expected to be the next largest markets after China, with more number of product line-ups planned by native manufacturers.Batteries will be the largest segment by value, with revenue crossing $40.82 billion by 2030. With the increasing demand for batteries, the price is expected to fall to below $100 per KWh by 2030 and the lower battery cost will make the trucks commercially viable for fleets. CVs will largely adopt the Nickel Manganese Cobalt (NMC) battery chemistry due to high discharge capacities and optimal pricing. Mostly, light-duty trucks follow central motor architecture and medium- and heavy-duty trucks follow the wheel hub architecture, that will adopt in-wheel architecture in the future. Permanent magnet motors will be widely used in small GVWR segments and induction motors will be preferred in large GVWR segments. Switched reluctance motors will gain popularity after 2025. The xEV motor market’s revenue is estimated to be $2.46 billion in 2030, with China leading the market.Power electronics is another large segment in the EV component market. Silicon Carbide (SiC) and Gallium Nitride (GaN) semiconductors will be preferred over silicon semiconductors for improved performance and packaging benefits in designing inverters. The inverter market is estimated to grow to $1.32 billion in 2030 from $0.28 billion in 2018. Single and multicore wire harness made from aluminium or copper alloys with high-end fluoro rubber insulation will be the key technologies to address high-voltage safety and durability at higher voltages. OEMs are looking for new wiring harness technologies that help in weight reduction. Frost and Sullivan forecasts the wiring harness market to be $130 million in 2030.Along with technology acquisition, intense competition is foreseen among component manufacturers to adopt technologies and gain market share. With the increasing potential, OEMs will soon start manufacturing the components in-house, rather than sourcing from Tier-1 manufacturers. With growing demand for electric trucks and buses, the component industries in Europe and China are expanding their production goals and investment strategies, as the market value is expected to be more than $44.72 billion by 2030.
Indian Passenger Vehicle Market, Forecast to 2024
Indian Commercial Vehicles Market Landscape, Forecast to 2030
Frost Radar in the Global Online Food Delivery Market
Global Off-Highway Vehicle Electrification Trends, Forecast to 2030
Analysis of Urban Air Mobility and the Evolving Air Taxi Landscape, 2019
Innovations in Automotive Lightweighting, ADAS, Autonomous and Electric Vehicles, and Traffic Management
Global Forklift Battery Charger Market, 2018–2023
Indian Commercial Vehicle Reman Engine Market, 2018–2023
Future of Global Online Food Delivery Services Market, Forecast to 2025
Innovations in Lightweighting Materials and Manufacturing Processes, Automated Inspection Systems, Autonomous Car Perception, Electric Race Cars, and Fire Truck Cabs
industrial robotics market
wearable technology market
natural flavors market
natural gas market
fuel cell market
artificial lift market
Fill in the fields below to receive a sample report
Don't have an account? Create One!
Enter your Email Address here to receive a link to change password.
If you are an existing frost.com user, please register using the same email for seamless access
Already have an account? Login!
Use your Linkedin account to login or register within our store.You're just one click away.