Automotive Retrofit Electric Vehicle Powertrain Market Expansion by 2027

Communication Technology Services

Updated on Jul 11, 2022

View more like this | Visit India, UN | Contact market research report
Image for Automotive Retrofit Electric Vehicle Powertrain Market Expansion by 2027 with ID of: 5327272

Retrofitting an old vehicle into an electric vehicle is a new way to reduce pollution and promote zero-emission. Retrofit electric vehicles include replacement of the engine and fuel tank with a battery and battery charger, respectively.

Retrofitted electric vehicles do not require gears and can travel up to 150km on a single charge. According to Central Motor Vehicle Rule, 1989, of India, the conversion of engine powered vehicles into pure electric operation with fitment of electric kit would be permitted if the vehicle was manufactured on or after January 1, 1990.

Key Drivers of Global Automotive Retrofit Electric Vehicle Powertrain Market

Rise in sale of vehicles across the globe is a key factor that drives the electric vehicle market. Vehicle manufacturers are emphasizing on retrofitting old vehicles into electric vehicles, which in turn is estimated to boost the automotive retrofit electric vehicle powertrain market across the globe. Enactment of numerous rules and regulations by various governments regarding emission, across the globe, is likely to boost the global automotive retrofitting electric vehicle powertrain market.

Rise in demand for automatic transmission in the vehicle to enhance driving comfort is projected to propel the automotive retrofit electric vehicle market, as a retrofit electric vehicle doesn’t require gears. Major countries across the globe are focused on the development of pollution-free smart cities, and electric vehicles are expected to be a viable option to achieve this goal.

Grab an Exclusive PDF Brochure of this Report @

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=76823

Europe and Asia Pacific to hold prominent share of global automotive retrofit electric vehicle powertrain market

Europe is projected to hold a major share of automotive retrofit electric vehicle powertrain market due to significant presence of automotive industries and enactment of stringent rules regarding emission norms in the region. Increase in continuous research and development and collaboration between automotive companies is likely to fuel the automotive retrofit electric vehicle market in Europe.

Followed by Europe, Asia Pacific is projected to account for a significant share of the global automotive retrofit electric vehicle powertrain market, due to an increase in vehicle production and sale in the region. China has significant reserves of lithium which in turn is estimated to propel investment for battery production for electric vehicle. Demand for electric vehicles is high in China and Japan which in turn would boost the automotive retrofit electric vehicle market in Asia Pacific.

Request the Covid-19 Impact Analysis @

https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=76823

Key Players Operating in Automotive Retrofit Electric Vehicle Powertrain Market

The global automotive retrofit electric vehicle powertrain market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global automotive retrofit electric vehicle powertrain market are:

Continental AG

Trio Automobiles Pvt Ltd

BHARAT MOBI

Robert Bosch GmbH

Rexnamo Electro Pvt Ltd.

ALTIGREEN

Delphi Technologies

Mando Corporation

Johnson Electric Holdings Ltd

Mitsubishi Electric

Magna International Inc.

Hitachi Ltd.

 

goodideazs, LLC is not affiliated with the authors of this post nor is it responsible for its content, the accuracy and authenticity of which should be independently verified.