SA: the market size of electric vehicle powertrain accelerates to exceed 100 billion US dollars.

CTOnews.com Strategy Analytics said today that electric vehicle production will grow at a compound annual average growth rate of 26% between 2021 and 2026, and by 2029, production will approach 54.1 million units.

This, in turn, will drive demand for the corresponding xEV powertrain electronics, which is expected to grow at a compound annual average rate of 37 percent to $107 billion by 2029, the report notes.

CTOnews.com understands that Strategy Analytics says the xEV powertrains it analyzes include key systems needed to operate mild hybrids, full hybrids, plug-in hybrids and battery-electric powertrains. This includes battery management systems, DC / DC converters, main traction inverters, motors and on-board chargers.

Source: Strategy Analytics

Major traction inverters and motors will drive overall demand growth from more than 50% in 2021 to 57% in 2029, reflecting trends in battery electric vehicle powertrains and high-end and ultra-high-end vehicle segments with multiple systems per vehicle.