Automotive Carbon Wheels Market Trends, Business Strategies and Opportunities With Key Players Analysis 2027

According to a new report published by Allied Market Research, titled, "Automotive Driveline Market," The automotive driveline market was valued at $257.40 billion in 2021, and is estimated to reach $545.8 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031.

Browse Full Report with TOC @ https://www.alliedmarketresearch.com/automotive-driveline-market-A10014

The concept of automotive driveline is typically attributed to the assembly of components that conveys power to driving wheel of a vehicle. It consists of components such as drive shafts, the axles, the CV joints, the U joints, the wheels, and the transmission of vehicle which transfer power or torque to the driving wheels of the vehicle to move it forward. The U joints transmit power to the wheels allowing different angles, CV joints can bend in any direction letting the wheels move at constant velocity, axles deliver power from the final drive assembly to the wheels and transmissions transmit power from the engine to the drive shaft and the rear wheels. Currently, innovations in driveline technologies with the rise in popularity of electric vehicles (EVs) have made EVs more competitive than conventional ICE vehicles. For instance, in August 2021, Schaeffler AG bought in further development in its electric axle by introducing the 800-volt power electronics and thermal management system. These improvements increased the efficiency of the electric drive, which further increased the effective range of electric vehicles.

In addition, the automotive driveline market has witnessed significant growth in recent years, owing to the increased demand for improved vehicle performance and the inclination of consumers towards environment-friendly vehicles. Furthermore, the companies operating in the market have adopted partnerships, investments, and product launches to increase their market share and expand their geographical presence. For instance, in February 2021, ZF Friedrichshafen AG partnered with Mahindra Racing, a motor racing team based in Banbury, UK, to offer its driveline technology for the championship. This included the electric motor, transmission and silicon carbide-based power electronics for the racing vehicles of Mahindra racing.

Download Free Sample - https://www.alliedmarketresearch.com/request-sample/10379

The factors such as rise in automobile production, innovations and technological advancements in chassis systems, and increase in the sales of electric vehicles (EVs) supplement the growth of the automotive driveline market. However, fluctuation in prices of raw material and decrease in vehicle ownership owing to increase in shared mobility are the factors expected to hamper the growth of the market. In addition, increase in infrastructural developments in EV manufacturing enhancement of all-wheel drive for future vehicles and advancements in technology create market opportunities for the key players operating in the market.

COVID-19 Impact Analysis:

The COVID-19 outbreak severely impacted the automotive sector on a global level, which in turn leads to considerable drop in automotive sales, insufficiency of raw material, and others. As a result, the production of driveline components witnessed decline due to the world's economic ecosystems. Moreover, for instance, the raw material required to produce components was facing severe challenges. Moreover, companies operating in the automotive driveline technology market have seen a 17-19% decline in sales. However, government support in recovery incentives is expected to return the sales to normal. In addition, companies accelerating growth in e drive development focus on strengthening a strong supply chain and maintaining contact with customers & suppliers. These measures allow the business to respond dynamically to rebound. The market is expected to recover in the second half of 2021 owing to government affairs of some regions such as North America and Europe returning to normal. Similarly, the fastest recovery rates in some regions are also expected to boost the demand for the product in the near period.

Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/10379

KEY FINDINGS OF THE STUDY

By drive type, the all-wheel drive (AWD) segment dominates the global automotive driveline market in terms of growth rate.
By vehicle class, the luxury segment dominates the global automotive driveline market in terms of growth rate.
By propulsion type, the electric segment dominates the global automotive driveline market in terms of growth rate.
By application, the light commercial vehicle segment dominates the global automotive driveline market in terms of growth rate.

The leading players operating in the automotive driveline market are BorgWarner Inc., Continental AG, DENSO Corporation, Ford Motor Company, GKN Automotive Limited, Hitachi Ltd, Mahindra & Mahindra Ltd, Marelli Holdings Co., Ltd, Melrose industries PLC, MSL Driveline Systems Limited, Robert Bosch GmbH, Schaeffler AG, Toyota Motor Corporation, Valeo, Volkswagen AG, Xlerate Driveline India Ltd., and ZF Friedrichshafen AG.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.