Automotive Powertrain Electronics Industry- Regional Synopsis
APAC Market Forecast
Automotive powertrain electronics market in Asia Pacific is predicted to account for the largest share of 40% by 2037 impelled by the growing demand for EV batteries. China is the largest market for electric vehicles (EVs) in the region which has increased the demand for EV batteries. These batteries require advanced power management systems and battery management systems to improve overall performance and efficient charging, leading to higher demand for automotive powertrain electronics in the region. For instance, it was found that as of 2022 China dominated EV battery production with approximately 70% of all battery cells.
European Market Statistics
The Europe automotive powertrain electronics market is estimated to be the second largest, during the forecast timeframe led by growing investment in electric and hybrid powertrains. Since hybrid electric vehicles are powered by internal combustion engines, there may be a rise in the demand for automotive powertrain electronics in the region.
