OREGAON, PORTLAND, UNITED STATES , June 10, 2024 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Automotive Drivetrain Technology Market by Vehicle Type and Technology: Global Opportunity Analysis and Industry Forecast, 2019-2030,” the global automotive drivetrain technology market size was valued at $17.93 billion in 2018, and is projected to reach $269.28 billion by 2030, registering a CAGR of 24.8% from 2019 to 2030. By vehicle type, the passenger car segment was the highest contributor to the market in 2018, accounting for $15.88 billion, and is estimated to reach $230.61 billion by 2030, registering a CAGR of 24.5% during the forecast period. In 2018, the automotive drivetrain technology market share accounted highest for Asia-Pacific.
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.
Automobile companies focus on the production of electric motors and e-axle systems. Prominent players in the 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.
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.
The automotive drivetrain technology market is segmented on the basis of technology, vehicle type, and region. Based on vehicle type, the market is categorized into passenger car, trucks, and buses. The passenger car segment held the largest share in 2018, contributing to nearly 88% of the global automotive drivetrain technology market. However, the truck segment is projected to register the fastest CAGR of 28.3% during the forecast period.
Based on technology, the market is divided into central motor, e-axle, and wheel hub module. The wheel hub module segment is anticipated to manifest the fastest CAGR 29.2% during the forecast period. However, the central motor segment dominated the global automotive drivetrain technology market in 2018.
Region wise, the global automotive drivetrain technology market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The market across the LAMEA region is expected to manifest the fastest CAGR of 27.7% during the forecast period. However, the market across Asia-Pacific held the largest share in 2018, contributing to nearly half of the market.
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.
