Global Automotive Retrofit Electric Vehicle Powertrain
Market Report
2025
As per Cognitive Market Research's latest published report, the Global Automotive Retrofit Electric Vehicle Powertrain market size will be USD 2,896.62 Million by 2030. The Global Automotive Retrofit Electric Vehicle Powertrain Industry's Compound Annual Growth Rate will be 11.02% from 2023 to 2030.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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As per Cognitive Market Research's latest published report, the Global Automotive Retrofit Electric Vehicle Powertrain market size will be USD 2,896.62 Million by 2030. The Global Automotive Retrofit Electric Vehicle Powertrain Industry's Compound Annual Growth Rate will be 11.02% from 2023 to 2030.
2021 | 2025 | 2033 | CAGR | |
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Global Automotive Retrofit Electric Vehicle Powertrain Market Sales Revenue | 121212 | 121212 | 121212 | 11.02% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Vehicle Type |
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Market Split by Component |
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Market Split by Electric Vehicle Type |
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Market Split by Operation |
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Market Split by Sales Channel |
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Market Split by Vehicle Type |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Market Drivers:
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Automotive Retrofit Electric Vehicle Powertrain Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Electric vehicle retrofitting is the process of converting existing petrol or diesel vehicle into electric vehicle. This procedure includes replacing the original engine and other associated components, as well as installing a new alternative energy source within the current vehicle body.
The process includes either adding additional system into existing vehicles or replacing the existing engine with a new motor and drivetrain. This process can be done on both new and used vehicles.
Several passenger and commercial vehicle often use retrofit component for several reasons. This component includes electric motor, high voltage battery, controller, on board charger, and others.
It can be used in manually as well as automatic operating system. These components can be found in OEM or aftermarket sales channel.
The retrofitting of electric vehicles provides several benefits such as it can reduce operational cost, as cost of electricity per km is significantly less when compared to petrol or diesel. These component does not produce noise and vibration that allow comfortable ride.
The retrofitted also provide environmental benefits as it require no or less engine power which produces less carbon emission. These components often used for cycles, scooters, cars and small commercial vehicles and it is available in kits.
Currently, several electric vehicles such as battery electric vehicle, plug-in hybrid vehicle, and hybrid electric vehicle are in high demand. These factors raises the demand for automotive retrofit electric vehicle powertrain component.
Rising Demands for a sustainable transport solution
The climate change is one of the most concern and debatable topic across the world. The increasing average atmospheric temperature trigged by global warming is driving several changes in earth’s climate and weather systems. The heat-trapping greenhouse gases (GHG) plays a significant role in the global warming. From the series of gases, carbon dioxide (CO2) significantly contributes to the global warming. According to the U.S. Environmental Protection Agency, carbon emissions, in the form of carbon dioxide, make up more than 80 percent of the greenhouse gases emitted in the United States. EPA (United States Environmental Protection Agency) states that the human activities are responsible for almost all of the increase in greenhouse gases in the atmosphere over the last 150 years.
With the increasing concern over the associated impact of greenhouse gases on environment, government across the world is actively involving in taking measures for it. Several regulations have been imposed on the carbon di oxide emission in order to reduce the emission of CO2 across the world. For instance, Regulation (EU) 2019/631 for performance standards for new passenger cars and vans.
Moreover, the problems associated with the wide consumption of fossil fuels is not only leading to environmental problems but also causing depredation of fossil fuels. It is estimated that if the fossil fuels are burned at current rate, it will be depleted by 2060.Car industries, transportation industries and steel industries use fossil fuels to a greater extent and thus become causes of the fossil fuel-depletion. In such scenario, the government and manufacture are focusing on the development of the sustainable transport solution.
Conventional vehicle can be converted into the hybrid electric vehicle (HEV), all-electric vehicle (EV) or a plug-in hybrid electric vehicle (PHEV) by the certified installers. By replacing the engine with powertrain components such as battery pack, electric motors, high-voltage cables, on board charger etc., a gasoline-powered vehicles can be converted into electric vehicles The electric vehicle powertrain is the component which offers the power to vehicle to move furthers. Also, conversation of the older gas car to electric also enhances the power, torque and life of car. Thus, electrical conversion of car not only offers the zero-emissions vehicle but also reduces the operating cost significantly.
Hence, increasing demand for a sustainable transport solution is driving the growth of the automotive retrofit electric vehicle powertrain market.
The main challenges associated with vehicle electrification that act as restraints in the automotive retrofit electric vehicle powertrain market include high purchase costs, limited charging infrastructure, range anxiety, and slow charging speeds. Environmental concerns related to battery production and limited model availability also contribute to these restraints.
For instance, retrofitting an existing car with an electric powertrain is generally more expensive than purchasing a new EV. The cost of retrofit kits, including motors, batteries, and battery management systems, can range from 3 lakh to 5 lakh.
Government regulations are one of the leading factors in the global automotive retrofit electric vehicle powertrain market. In a bid to decrease air pollution and fight climate change, a substantial number of authorities across the globe have put in place strict guidelines with regard to emissions.
For instance, The Indian government is supporting the transition to electric vehicles, including retrofitting, through various initiatives like the PM E-DRIVE scheme, which aims to boost EV sales and charging infrastructure.
In the United States, The Department of Energy (DOE) is providing grants to convert existing auto manufacturing and assembly facilities to produce EVs and their supply chain components. This includes a $1.5 billion allocation from the Inflation Reduction Act to support facilities in eight states. Therefore, Government initiatives for the adoption of electric vehicles will further provide an opportunity for the market.
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eTrio technologies is a manufacturer of electric-driven vehicles based in India. The company offers wide range of products including electric LCV, electric bikes, electric cars and electric three wheelers. The company also provides capabilities in transforming existing fuel-powered commercial vehicles into electric vehicles.
Altigreen design, develop, test, certify and manufacture powertrains for full-electric and hybrid-electric vehicles. It manufactures EV powertrains for India and other emerging economies. The Company’s patent portfolio spans over 60 countries with 24 patents granted, including 6 in the US
It provides electric powertrains for use in a range of passenger vehicles including hatchbacks, sedans, MUVs and SUVs. These powertrains can either be fitted along with the existing ICE engine, converting a fossil-fuel vehicle to an Electrical Assist Hybrid, or can be used to drive the vehicle standalone as a Full Electric on battery power. The company is providing their solutions for two wheelers, three wheelers, passenger cars, light commercial vehicles and farm equipment.
November 2021
Altigreen, a Bangalore-based electric vehicle technology company, has teamed up with SpareIt to utilize garages on the latter's platform as EV servicing centers.
March 2021
Cogos, an AI-driven intra-city logistics platform, has announced a partnership with Altigreen to deploy 1,000 electric vehicles in its fleet.
Top Companies Market Share in Automotive Retrofit Electric Vehicle Powertrain Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
Region and country analysis section of Automotive Retrofit Electric Vehicle Powertrain Industry Analysis has been segmented into 5 major region such as North America, Europe, Asia Pacific, Middle East & Africa ,and Latin America (along with respective major contributing countries) and provides the revenue share, current trends.
The base years considered for all the estimations by analyzing trends and growth rate will help you gain an in-depth understanding of the conclusions provided in this report. This report also includes figures, graphs, pie charts, tables and bar graphs that explain the data analysis based on current trends at the country level as well as key regions. This research report also focuses on assessing factors such as profit, product price, capacity, production, supply demand market growth rate along with others to create a clear picture on the future prospects of Automotive Retrofit Electric Vehicle Powertrain market.
The current report Scope analyzes Automotive Retrofit Electric Vehicle Powertrain Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Automotive Retrofit Electric Vehicle Powertrain Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Automotive Retrofit Electric Vehicle Powertrain Industry growth. Automotive Retrofit Electric Vehicle Powertrain market has been segmented with the help of its Vehicle Type, Component Electric Vehicle Type, and others. Automotive Retrofit Electric Vehicle Powertrain market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Several new vehicles have been retrofitted with electric drivetrain. Several new vehicles often need to purchase some additional features to further modified the system. The additional feature is included to configure the electric motor which includes a wiring harness, production motors, electric pump, an electric steering kit, an electronic controller that provides real-time feedback, and others.
In retrofit process new electric drivetrain is integrated into existing drivetrain of the vehicle. Converting old vehicle into electric one gives more power as well as extend the life of vehicle. This allows the vehicle's hybrid mode to be the default driving mode on the automobile. It also remove the need to change gears in traffic because the vehicles can accelerate up to 30kph in a gearless drwwiving way. The method helps to reduce carbon emissions in the city.
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Electric conversion of vehicles involves the removing of entire internal combustion engine and installs an electric motor in its place. The electric motor transforms electrical energy from the battery pack into mechanical energy, allowing the vehicle to drive in the intended way. Several EVs use motor generators that can perform regeneration.
Currently, new electric vehicles require high voltage to power the motor. Hence, several vehicles are retrofitted with high quality high voltage batteries. These batteries often made with multiple lithium-ion cell and stores the energy to run the vehicle.
The controller in vehicle is used in automotive, commercial vehicles, motorsports and military vehicle traction applications. Traditionally, a controller is tailored to a certain type of electric vehicle. However, a powertrain controller architecture based on the CAN bus is now being developed to suit the need for various electric vehicles.
The on-board charger (OBC) is a technology installed into the automobile that allows the high voltage battery to be recharged from the AC grid while the vehicle is parked. Automotive retrofit electric vehicle on-board chargers enable automobiles to convert the AC received through the charge port and manage the amount of power flowing into the battery pack. Currently, trend towards fast charging raises the demand for retrofit electric vehicle on-board chargers.
Several other components such as Dc-AC converter, battery management system, inverter, ISG system, EV control unit, and many other components are retrofitted. The inverter is essential for compliance with environmental regulations for hybrid and electric vehicles.
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Battery electric vehicle is an electrical vehicle that solely based on the batteries and does not include has engine parts. The vehicle is run on the battery pack which can be recharged from the grid. BEVs are zero-emission vehicles since they produce no hazardous exhaust emissions or air pollution threats like typical gasoline-powered vehicles do. These vehicles include motorcycles, bicycles, scooters, skateboards, railcars, watercraft, forklifts, buses, trucks, cars, and others.
Plug-in hybrid electric vehicles (PHEVs) use batteries to power an electric motor and another fuel, such as gasoline, to power an internal combustion engine (ICE). The batteries of PHEVs can be charged by wall outlet or charging equipment, by the ICE. Some PHEVs employ gearboxes that enable them to run in either parallel or series mode, switching between the two dependents on the driving profile. There are several light-duty PHEVs commercially available in the market.
The conventional vehicle is simply upgraded with electric motors in hybrid vehicle design, and drive cycle operation. It has most efficient fuel-burning engine in a short range and emits the least amount of pollution at the most efficient operating point. These vehicles are powered by an internal combustion engine and an electric motor, which uses energy stored in batteries. There are several components used in hybrid electric vehicle which includes DC/DC converter, battery, electric generator, electric traction motor, fuel tank, exhaust system, internal combustion engine, and many others
Currently there are some automatic electric cars are available in the market. These vehicle does not require clutch owing to its inability to stall like a petrol or diesel vehicle. This raises the demand for automatic transmission in the vehicle that helps to enhance comfort while driving.
The majority of electric vehicles has different clutch, various gears, and braking system. Manual electric vehicles often use regenerative brakes. These brakes convert the heat produced by brakes back into energy which for battery usage. Currently majority of scooter, cars, and other vehicles are manually operated.
An Original Equipment Manufacturer (OEM) is a corporation that makes and sells items or components of products that are used in another company's end product. As electric vehicle is becoming increasingly popular, the original equipment manufacturers (OEMs) face growing pressure to meet the increasing demand. To meet this demand OEMs are currently working on developing automotive retrofit electric vehicle powertrain component that are used in numerous vehicles.
After sales channel includes the sell of the products that are used in the repairing and replacing of products. The early models of hybrid and electric vehicles needs the enhancement or repairing in components as consumer prefer to kept vehicle for longer period. Hence, several aftermarket services providers provide numerous components such as motor, batteries, inverter, and many other that are used during retrofitting
Several passenger vehicles such as Hatchback, Sedan, MPV, SUV, scooters and other can be retrofitted with electric vehicle powertrain. For these vehicles to run for long distance trips is not pocket friendly option. Hence, several players are focusing on developing hybrid-electric (xEV) retrofit solution for passenger vehicles. These ideas are attempted to make economic solutions for urban residents who travel large distances. The automotive retrofit electric vehicle powertrain allows passenger vehicles to replace existing ICE vehicles and make them hybrid-electrics (xEVs) as well as capable of offering full-BEV functionality within city limits.
The commercial vehicle such as light commercial vehicle and heavy commercial vehicle often retrofitted with electric powertrain. It is used in walk-in vans, delivery trucks, shuttle buses, refrigerated trucks and other vocational vehicles. The automotive retrofit electric vehicle powertrain turns commercial vehicles into cleaner, greener, quieter, longer life and more economical operational vehicles. Retrofitted small commercial vehicles are often used in urban freight, store to home delivery, e-commerce delivery, etc.
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In her current role, Swasti manages research for service and software category, leading initiatives to uncover market opportunities and enhance competitive positioning. Her strong analytical skills and ability to provide clear, impactful findings have been crucial to her team’s success. With an expertise in market research analysis, She is adept at dissecting complex problems, extracting meaningful insights, and translating them into actionable recommendations, Swasti remains an invaluable asset in the dynamic landscape of market research.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Vehicle Type | Two Wheelers, Passenger Vehicle (Hatchback, Sedan and Utility Vehicle), Commercial Vehicle (Light Commercial Vehicle and Heavy Commercial Vehicle) |
Component | Inclusive Conversion Kit, Electric Motor, Battery, Controller, Charger, Others (Axle/ Converter etc.) |
Electric Vehicle Type | All Battery Electric Vehicle, Plug-in Hybrid Vehicle, Hybrid Vehicle |
Operation | Automatic, Manual |
Sales Channel | OEMs, Aftermarket |
Vehicle Type | Passenger Vehicle, Commercial vehicle |
List of Competitors | ALTIGREEN, BHARAT MOBI, Continental AG, Delphi Technologies, ETrio, EV Europe, Folks Motor, Hitachi Astemo Ltd., Johnson Electric Holdings Ltd, Loop Moto, Magna International Inc., Mando Corporation, Mitsubishi Electric, Rexnamo Electro Pvt Ltd., Robert Bosch GmbH, Transition One, VerdeMobility, XL Fleet |
This chapter will help you gain GLOBAL Market Analysis of Automotive Retrofit Electric Vehicle Powertrain. Further deep in this chapter, you will be able to review Global Automotive Retrofit Electric Vehicle Powertrain Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Automotive Retrofit Electric Vehicle Powertrain. Further deep in this chapter, you will be able to review North America Automotive Retrofit Electric Vehicle Powertrain Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Automotive Retrofit Electric Vehicle Powertrain. Further deep in this chapter, you will be able to review Europe Automotive Retrofit Electric Vehicle Powertrain Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Automotive Retrofit Electric Vehicle Powertrain. Further deep in this chapter, you will be able to review Asia Pacific Automotive Retrofit Electric Vehicle Powertrain Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Automotive Retrofit Electric Vehicle Powertrain. Further deep in this chapter, you will be able to review South America Automotive Retrofit Electric Vehicle Powertrain Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Automotive Retrofit Electric Vehicle Powertrain. Further deep in this chapter, you will be able to review Middle East Automotive Retrofit Electric Vehicle Powertrain Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Automotive Retrofit Electric Vehicle Powertrain. Further deep in this chapter, you will be able to review Middle East Automotive Retrofit Electric Vehicle Powertrain Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Automotive Retrofit Electric Vehicle Powertrain. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Vehicle Type Analysis 2019 -2031, will provide market size split by Vehicle Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Vehicle Type Analysis 2021 - 2033
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Chapter 11 Market Split by Component Analysis 2021 - 2033
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Chapter 12 Market Split by Electric Vehicle Type Analysis 2021 - 2033
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Chapter 13 Market Split by Operation Analysis 2021 - 2033
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Chapter 14 Market Split by Sales Channel Analysis 2021 - 2033
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Chapter 15 Market Split by Vehicle Type Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Automotive Retrofit Electric Vehicle Powertrain market
Chapter 16 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 17 Research Methodology and Sources
Why Two Wheelers have a significant impact on Automotive Retrofit Electric Vehicle Powertrain market? |
What are the key factors affecting the Two Wheelers and Passenger Vehicle (Hatchback of Automotive Retrofit Electric Vehicle Powertrain Market? |
What is the CAGR/Growth Rate of Inclusive Conversion Kit during the forecast period? |
By type, which segment accounted for largest share of the global Automotive Retrofit Electric Vehicle Powertrain Market? |
Which region is expected to dominate the global Automotive Retrofit Electric Vehicle Powertrain Market within the forecast period? |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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