Press release
Automotive Drivetrain Market 2024 - By Size, Share, Industry Growth Analysis Report By 2033
Automotive Drivetrain Market
The Business Research Company offers in-depth market insights through Automotive Drivetrain Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The automotive drivetrain market size has grown strongly in recent years. It will grow from $221.58 billion in 2023 to $239.16 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to early automobile development, shift from horse-drawn to motorized vehicles, industrialization of automotive manufacturing, introduction of four-wheel drive systems, evolution of transmission technologies.
The automotive drivetrain market size is expected to see strong growth in the next few years. It will grow to $324.38 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to electrification of vehicles, integration of advanced sensors in drivetrain, lightweight and high-efficiency materials, autonomous vehicle development, continued emphasis on fuel efficiency. Major trends in the forecast period include hybrid and electric drivetrains, intelligent and adaptive drivetrain systems, modular drivetrain designs, integration of predictive maintenance technologies, development of all-wheel drive (awd) systems for performance vehicles.
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Market Segmentation:
The automotive drivetrain market covered in this report is segmented -
1) By Drive Type: Front-Wheel Drive, Rear-Wheel Drive, All-Wheel Drive
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicle(LCV), Heavy Commercial Vehicle(HCV), Electric Vehicle
3) By Transmission: Manual Transmission, Automatic Transmission, Continuous Variable Transmission, Automated Manual Transmission, Dual-Clutch Transmission
4) By Technology: Central Motor, E-Axle, Wheel Hub Module
Major Driver - Increasing Adoption Of Electric Vehicles
The increasing adoption of electric vehicles is expected to propel the growth of the automotive drivetrain market going forward. Electric vehicles are those that are partially or fully powered by electricity. The increasing adoption of electric vehicles helps increase the demand for automotive drivetrains. Electric drivetrains have a single-speed transmission that sends power from the motor to the wheels. For instance, in October 2022, according to the World Economic Forum, a Switzerland-based international non-governmental and lobbying organization, around 4.3 million new battery-powered electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) were sold globally in the first half of 2022. BEV sales grew by 75% on the year and PHEVs by 37%. Therefore, the increase in the adoption of electric vehicles will make the demand greater for the growth of the automotive drivetrains.
Competitive Landscape:
Major companies operating in the automotive drivetrain market report are Aisin Seiki Co Ltd., BorgWarner Inc., ZF Friedrichshafen AG, Showa Corporation, Schaeffler Group, American Axle & Manufacturing Inc., Magna International Inc., JTEKT Corporation, Axletech International, Continental AG, Nidec Corporation, AVL List GmbH, Marelli Holdings Co. Ltd., Mitsubishi Electric Corporation, Robert Bosch GmbH, Valeo SA, Toyota Motor Corporation, Hyundai Motor Company, Volkswagen AG, Dana Incorporated, GKN Ltd., General Motors Company, Ford Motor Company, Daimler AG, Allison Transmission Inc., Eaton Corporation plc, Meritor Inc., Dana Limited, Linamar Corporation, Miba AG
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Top Trend - Technological Innovation In Automotive Drivetrain Market
Technological innovation is a key trend gaining popularity in the automotive drivetrain market. Companies operating in the automotive drivetrain market are focusing on new technological innovations to reinforce their position. For instance, in May 2022, Amsted Automotive, a US-based motor vehicle manufacturing company, introduced the Dynamic Controllable Clutch (DCC), an Electro-Mechanical E-axle Disconnect system, which provides seamless all-wheel drive (AWD) and 4WD disconnect and quick, reliable shifts. The Dynamic Controllable Clutch (DCC) technology allows the driveline system to engage and disengage the drive axles while conserving energy and maintaining on-road and off-road capabilities.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Drivetrain Market Characteristics
3. Automotive Drivetrain Market Trends And Strategies
4. Automotive Drivetrain Market - Macro Economic Scenario
5. Automotive Drivetrain Market Size And Growth
…..
27. Automotive Drivetrain Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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