Automotive Drivetrain Technology Market to Hit US$269.28 Billion by 2030, Driven by EV and AWD Innovations

According to the report, the global automotive drivetrain technology market size was pegged at $17.94 billion in 2018 and is projected to reach $269.27 billion by 2030, registering a CAGR of 24.8% from 2019 to 2030. Allied Market Research recently published a report, titled, "Automotive Drivetrain Technology Market by Vehicle Type (Passenger Car, Buses, and Trucks) and Technology Type (Central Motor, E-axle, and Wheel Hub Module): Global Opportunity Analysis and Industry Forecast, 2019-2030".

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Automobile companies focus on the production of electric vehicles due to increase in fuel costs. According to the International Council on Clean Transportation, sales of electrical and hybrid cars has dramatically increased in Spain form the year 2016 to 2018. Changing economic scenarios along with customer mentality is leading to rise in purchase of modern vehicles in this region. Moreover, rise in use of electric taxi as transportation vehicle is propelling the growth of automobile parts specially for the drivetrain system market. Therefore, manufacturers are focusing toward the adoption of electric drive system and other electric automobile parts due to their high compatibility with these vehicles. Thus, increase in purchasing power of consumers and rise in number of hybrid, fuel-cell, traditional, and electric vehicles are significantly propelling the growth of the automotive drivetrain technology market.

Furthermore, BorgWarner has announced a partnership with one of China's leading New Energy Vehicle (NEV) brands to supply the fully integrated drive module (iDM) for their pure electric vehicle. This partnership represents BorgWarner's first iDM project in China. The electric vehicle equipped with the BorgWarner iDM is expected to go into mass production in 2021. Moreover, Bosch has launched two integrated drivetrains specifically for electric vans and delivery vehicles. This powertrain has multiple components such as an electric motor and various drive types and combined them into one unit.

In addition, ZF Reinforces developed the purely electric central drive CeTrax, which can be used in trucks and different bus applications in the inner city for long-distance transport applications that focuses on all-electric drive solutions for urban vehicles and hybrid technologies.

Automobile companies focus on the production of electric motors and e-axle systems. Prominent players in the automotive drivetrain technology automotive drivetrain technology market are projected to introduce integrated e-axle system for commercial vehicles as well as passenger vehicles with the minimum cost. For instance, Continental has showcased a new compact, lightweight e-axle drive with a maximum output of up to 150 kW, a maximum torque of 400 Nm, and overall dimensions of 400 x 500 x 320 mm. In addition, the e-axle module is manufactured in China and is allowing Chinese vehicle manufacturers to expand the range of electric vehicles especially in the mid-size class.

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The company named Sachaeffler started offering in-wheel hub drives that consist of electric motor, power electronics, brake, and cooling system installed directly in the wheel rim. This results in a direct transmission of force to the road and increased agility and safety. Moreover, Ricardo launched new "E-Axle" electric vehicle transmission.

Furthermore, it also has created a single-speed EV transmission that offers a balance of efficiency and performance along with low cost of ownership, owing to rise in demand for battery electric vehicles (EVs) and increase in range of electric machines available for selection by automakers. Such innovations are estimated to boost the growth of the automotive drivetrain technology market during the forecast period.

Moreover, rise in pollution, development of the automobile industry, and decrease in fossil fuel reserves further fuel the growth of the global automotive drivetrain technology market. However, high cost of electric drive system is the key restraining factor for this market. Furthermore, increase in R&D activities for improvement in electric & hybrid vehicle, proactive government initiative & technological advancements, and adoption of smart marketing strategies are anticipated to offer lucrative opportunities for the automotive drivetrain technology market expansion.

Wheel hub module segment to portray the fastest growth through 2030

The wheel hub module segment is anticipated to manifest the fastest CAGR 29.2% during the forecast period, owing to growing R&D activities on drivetrain technology. However, the central motor segment dominated the global automotive drivetrain technology market in 2018, contributing to nearly four-fifths of the market, due to the rise in pollution free vehicles, and developments of electric drives by the key players.

LAMEA to portray highest growth rate, North America to follow

The global automotive drivetrain technology market across the LAMEA region is expected to manifest the fastest CAGR of 27.7% during the forecast period. The economic development and developing automobile industrial scenario and rise in use of super, hybrid, and premium cars in emerging countries of this region have boosted the growth. On the other hand, North America is expected to portray the second highest growth rate of 26.2%. However, the market across Asia-Pacific held the largest share in 2018, contributing to nearly half of the market. This is due to the higher adoption rates of smart mobility services, increase in government regulations, surge in fuel prices, and rise in trend toward adopting non-fossil fuel-based vehicles. Moreover, increase in automotive manufacturing plants and rise in demand for the electric vehicles further boost the growth of automotive drivetrain technology market in the region.

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Leading Key Players:-

Robert Bosch GmbH,

Nidec Corporation,

ZF Friedrichshafen AG,

GKN Plc,

Schaeffler Technologies AG & Co. KG,

Continental AG,

Borgwarner Inc.,

AVL List GmbH,

Axletech International,

Dana Limited.

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