Electric Components Market Forecast in Off-Highway Vehicles to Surge, Reaching $30.04 Billion by 2035 - Market Growth Catalyzed by Emission Regulations and Technological Advancements [Yaho...
BorgWarner Inc. (BWA)
Last borgwarner inc. earnings: 2/13 06:30 am
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Source: Yahoo! Finance
The electric components industry within the off-highway segment has grown significantly in recent years, with a global market size of $7.05 billion in 2023. The report projects a 12.8% compound annual growth rate (CAGR), reaching $30.04 billion in revenue in 2035. Factors driving the industry growth include BEV market growth (electric/hybrid), government incentives, technological advancements in battery/efficient drivetrain, sustainability/emission regulations, and cost-efficiency perspective for BEVs. Global electric/hybrid equipment unit sales are forecast to register a high CAGR of 13.4% between 2023 and 2035. For the same period, India, China, North America, and Europe will likely record strong CAGRs of 28.7%, 20.1%, 19.2%, and 13.2%, respectively, because of increased competition and technological advancements. The electric components market is predominantly segmented into batteries, DC-DC converters, inverters, motors, and battery chargers. The market is competitive, with
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BWA
Earnings
- 10/31/24 - Beat
BWA
Sec Filings
- 11/18/24 - Form 4
- 11/14/24 - Form 144
- 11/14/24 - Form SC
- BWA's page on the SEC website