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The size of the worldwide EV powertrain market size which is estimated at US$ 10,470.6 million in 2022, is anticipated to register a CAGR of 24% from 2023 to 2033. By following this impressive growth rate the total valuation is anticipated to reach US$ 112,036 million by the end of 2033.

Since conventional fuel cars are anticipated to become less common in the next years, EVs are the way of the future automobile industry. In addition, the adoption of e-mobility and resistance to transportation powered by internal combustion engines are growing and promoting the EV powertrain market opportunities. Moreover, the introduction of EV portfolios and anticipated investments in the EV industry are likely to speed up the changeover.

Key Takeaways

Owing to the presence of many key players in the United States, currently, this country leads the global market in sales of EV powertrains. As it generated a revenue of around US$ 1,057.5 million, it was figured out to have captured 10.1% of the global market.
Germany led the European region in the production of EV powertrains by generating revenue of around US$ 1,005 million in the year 2022. This value was nearly 9.6% of the revenue generated globally, making it the second leading region followed by the United States.
However, the United Kingdom has come into the picture these days for its remarkable increase in demand for EV powertrains. Based on the global EV powertrain market statistics, the United Kingdom is poised to register a 19.6% CAGR over the forecast years.
In the Asia Pacific region, China leads in production as well as the supply of EV powertrains around the world. This country is further projected to hold the dominant position in the coming days by registering a growth rate of 21.3% through 2033.
Contrarily, India remains the most notable region for witnessing rapid expansion in the adoption of EV powertrains these years. With an annual growth rate of 25.4%, the sales of EV powertrains in India are poised to grow faster than in other countries.
Among the different types of components, motors generate the maximum share of the revenue generated by the overall market. The motor segment is anticipated to contribute US$ 51,312.5 million of the total revenue share of the global EV powertrain market in 2033.
For more information: https://www.futuremarketinsigh....ts.com/reports/ev-po
Competitive Landscape for the Market

Robert Bosch GmbH, Continental AG, Magna International Inc., Mitsubishi Electric Corporation, ZF Friedrichshafen AG, BorgWarner Inc., Valeo SE, Hitachi Automotive Systems, NXP Semiconductors, and Dana Incorporated among others are some of the prominent players in the global EV powertrain market.

The top EV powertrain companies are taking part in M&A activity to solidify their position in the industry that is expanding quickly. For instance, in December 2019, Weichai Power Corporation bought Aradex AG. Dana Inc. followed by acquiring Nordesa Inc.

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Acetone Market Analysis, Development, Revenue, Future Growth, Business Prospects and Forecast to 2028
The global acetone market is expected to gain momentum from the high demand for petrochemicals and chemicals from several end-use industries. This information is given by Fortune Business Insights™ in a new study, titled, “Acetone Market Size, Share & COVID-19 Impact Analysis, By Application (Solvent, Bisphenol A (BPA), Methyl Methacrylate (MMA), and Others), By End-use (Paints & Coatings, Plastic, Automotive, Adhesives, Pharmaceuticals, Cosmetics, Electrical & Electronics, and Others), and Regional Forecast, 2020-2027.” The study further mentions that the acetone market size was USD 3,962.0 million in 2019 and is projected to reach USD 4,995.3 million by 2027, exhibiting a CAGR of 3.7% during the forecast period.

COVID-19 Pandemic to Affect Growth Backed by Ongoing Crude Oil Price War

The COVID-19 pandemic has negatively affected the global chemical industry. It has disrupted supply chains and created uncertainty in the demand worldwide. Also, restrictions from governments on manufacturing activities may hinder growth. The ongoing crude oil price war is also set to hamper growth.



Drivers & Restraints-

Increasing Manufacturing of Sanitizers and Disinfectants to Drive Growth

The increasing production of disinfectants and sanitizers worldwide is set to surge the demand for dimethyl ketone as isopropanol is derived from it. Besides, the high popularity of cosmetics and personal care products would aid the acetone market growth throughout the forthcoming years. However, acetone possesses higher initiation energy points and can’t auto-ignite. This may hamper its demand.

Segment-

Paints & Coatings Segment to Grow Steadily Fueled by Higher Usage of Solvents

Based on end-use, the plastic segment earned 33.3% in terms of the global acetone market share in 2019. The paints & coatings segment generated the largest share in 2019 because of the rising usage of solvents in this sector as it can dissolve non-polar and polar substances.

Regional Insights-

Easy Availability of Raw Materials to Favor Growth in Asia Pacific

In 2019, Asia Pacific held USD 1,739.2 million in terms of revenue. This growth is attributable to the lower labor cost and easy availability of raw materials in emerging countries, such as India and China. Dimethyl ketone is extensively used in numerous manufacturing processes as an industrial solvent in the region.

North America, on the other hand, is anticipated to grow considerably backed by the increasing research and development activities in the electronics sector. It would further surge the demand for Bisphenol A. The presence of large chemical industries in the U.K., Italy, and Germany would propel growth in Europe.

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https://www.fortunebusinessins....ights.com/acetone-ma

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