Driveline Electric Vehicle Global Market Insights: Growth Drivers, Size & Forecasts to 2029

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What Is the Forecasted Market Growth Rate of the Driveline Electric Vehicle Industry?
The size of the driveline electric vehicle market has experienced substantial growth in the past few years. The market is predicted to expand from its worth of $3.1 billion in 2024 to an estimated $3.38 billion in 2025, following a compound annual growth rate (CAGR) of 9.0%. The historic growth is due to various factors such as the escalating prevalence of cardiovascular diseases, the rising demand for minimally invasive techniques, emphasis on restenosis prevention, clinical proofs endorsing effectiveness, increased patient appetite for improved treatment choices, and partnerships in medical research and development.

How Will the Driveline Electric Vehicle Market Size Evolve From 2025 to 2029?
The market size for driveline electric vehicles is projected to experience robust growth in the coming years, with forecasts suggesting it will reach a valuation of $4.61 billion in 2029, growing at a compounded annual growth rate (CAGR) of 8.1%. Various factors contributing to the growth during the forecast period include the rising aging population, the widening scope of its applications, the transition towards ambulatory and outpatient settings, increased uptake in developing markets, and an increasing focus on patient-centric healthcare initiatives. Notable trends during this period include the emergence of bioresorbable drug-eluting balloons, advancements in coating technology, tailoring drug formulations for specific applications, the integration of nanotechnology within balloon coatings, an emphasis on sequential drug delivery strategies, and development of drug-device combinations.

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What Are the Main Growth Drivers in the Driveline Electric Vehicle Market Today?
The increase in electric vehicles' adoption is anticipated to boost the driveline electric vehicle market's growth in the future. An electric vehicle (EV) operates on an electric motor that uses electricity from a battery that can be charged externally. Electric vehicles' driveline systems transmit the motor's power to the wheels, thus making propulsion possible and affecting the vehicle's performance and efficiency. For example, the International Energy Agency (IEA), a French intergovernmental organization, reported in April 2023 that 14% of all new cars sold globally in 2022 were electric cars, a significant increase from 9% in 2021. Over 2.3 million electric vehicles were sold in the first quarter of 2023, a 25% increase from the same quarter the year before. Moreover, by the end of 2023, the sale of electric cars is expected to hit 14 million, marking a 35% increase year-on-year. Consequently, the surge in electric vehicle sales is fueling the expansion of the driveline electric vehicle market.

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Which Driveline Electric Vehicle Market Segment Is Expected to Lead Through 2029?
The driveline electric vehicle market covered in this report is segmented -

1) By Product: Series, Parallel, Power Split
2) By Transmission Type: Automatic Transmission, Dual-clutch Transmission, Electric-continuously Variable Transmission
3) By Drive Type: Front-Wheel Drive (FWD), Rear Wheel Drive (RWD), All-Wheel Drive (AWD)
4) By Vehicle Type: Hybrid Vehicles, Plug-in Hybrid Vehicles, Battery Electric Vehicles

Subsegments:
1) By Series: Pure Electric Driveline, Extended Range Electric Driveline
2) By Parallel: Hybrid Electric Driveline, Plug-In Hybrid Electric Driveline
3) By Power Split: Series-Parallel Hybrid Driveline, Multi-Mode Hybrid Driveline

Which Market Trends Are Expected to Dominate Driveline Electric Vehicle Industry Growth?
Top companies in the driveline electric vehicle market are strategically focusing on the creation of integrated e-powertrain systems as a means to increase their market earnings. The integrated E-Powertrain system is essentially a complete, cohesive electric powertrain which unifies the motor, power electronics, and energy storage elements to power an electric vehicle effectively. In a notable development, ZF Friedrichshafen AG, a well-established Germany-based tech firm that provides systems for both passenger cars and commercial vehicles, unveiled its AXTrax 2 in May 2023. This is a modular and integrated axle-drive e-powertrain system designed to electrify a full spectrum of commercial vehicles. It includes sophisticated digital and telematics systems that can interact and share data on e-axle systems via the controller area network bus. The AxTrax 2 replaces the standard engine, transmission, driveshaft, differential, and axle with an axle-based system to electrify a commercial vehicle. This innovative approach maximizes the space available for batteries and improves the manufacturer's ability to adapt designs for future vehicles.

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Which Companies Hold the Largest Market Share in the Driveline Electric Vehicle Sector?
Major companies operating in the driveline electric vehicle market report are Volkswagen AG, Ford Motor Company, General Motors Company, Mitsubishi Electric Corporation, Lion Electric Company, SAIC Motor Corp. Ltd., Robert Bosch GmbH, Hyundai Motor Company, Hitachi Automotive Systems, Tesla Inc., BYD Co. Ltd., Contemporary Amper*ex Technology Co. Limited, ZF Friedrichshafen AG, Continental AG, Magna International Inc., ABB Ltd., Beijing Automotive Group Co. Ltd., Zhejiang Geely Holding Group Co. Ltd., Valeo SA, BorgWarner Inc., Chang'an Automobile Co. Ltd., Samsung SDI, Dana Incorporated, GKN Drive Line Limited, Deutz AG, Rivian Automotive Inc., Schaeffler Technologies AG & Co. KG, Fisker Inc.

Where Is the Driveline Electric Vehicle Market Experiencing the Highest Growth?
Asia-Pacific was the largest region in the driveline electric vehicle market in 2024. The regions covered in the driveline electric vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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