ID: MRFR/AM/3353-HCR | 100 Pages | Published By Swapnil Palwe on March 2023
Automotive Electric Drivetrain System Market Size is expected to cross USD $2,56,015.02 Million by 2030 at a CAGR of 5.98% during the forecast period 2022-2030
The global Automotive Electric Drivetrain System market size was valued at $71.86 billion in 2020, and it is expected to reach $2,56,015.02 million by the end of 2030. It will register a CAGR of 5.98% in the forecast period. Electric vehicles are the future of the automotive market because of the scarcity of natural sources. These vehicles have huge demand globally because they offer improved environmental benefits and lower the cost. Many countries are taking the initiative for the use of electric vehicles. In the last few decades, the automotive industry has focused on using the same internal powertrain engine. But now, the industry is shifting towards the adoption of electric vehicles and other environment-friendly transportation.
The drivetrain is a vital part of a vehicle, so the Automotive Electric Drivetrain System market growth is automatically associated with the increasing production of automobiles. The components of the Automotive Drivetrain include axles, CV joints, shafts, wheels, and transmission. Apart from that, advanced drivetrain technology offers many benefits, such as improved vehicle performance and enhanced fuel economy. So the adoption of electric vehicles will play a big part in the market growth. All the parts in the drivetrain are responsible for giving transmission to move the wheels of the vehicles forward.
A vehicle's drivetrain is also called a powertrain, as it gives power to the wheels to move. But the only difference is the powertrain includes a whole system that offers power to the wheels. The drivetrain involves a component that only links the wheel and driveline for better efficiency and eco-friendliness. The rapid adoption of electric vehicles is determined by various factors such as infrastructure, consumer preference, regulations, and technology. The regulation and policies to prevent the emission of CO2 are becoming more popular day by day, especially in the developed regions. Europe has set regulations, and the co2 limit is 85 g/km by 2020, and it is targeting to reduce the emission to 37.5% by 2030. Apart from that, North America has also set the emission limit to 99g/km by 2025. So all these factors playing a supportive role in the Automotive Electric Drivetrain System market growth.
The spread of coronavirus caused pandemics worldwide, resulting in a global economic slowdown across the world. Lockdown was implemented in various parts of the world as it caused disruptions of supply chains and affected the production work. Due to this, the automotive market was highly affected. The production work was at a halt due to a shortage of laborers. Apart from that, lack of supply of raw materials due to travel restrictions harmed the market. The global market was very vulnerable due to its dependency on battery technology. Due to the pandemic, consumers are going through a financial crisis. The purchase cost of electric vehicles is higher than the other vehicles, so the low purchasing power of people during the pandemic also caused a negative impact on the market trends.
The major key players in the Automotive Electric Drivetrain System market are
These key players are constantly trying to provide enhanced Automotive Electric Drivetrain Systems and boost the Automotive Electric Drivetrain System market size. Among them, the most contributing key player is Dana Holding Corporation.
Drivetrain System is an important part of a vehicle, and it can improve its efficiency, overall comfort, and safety. The demand for safety and comfort in vehicles is increasing; as a result, the automotive manufacturer is focusing on using advanced technology for better safety, and it is driving the Automotive Electric Drivetrain System market trends. Apart from that, the drivetrain allows the wheels of the vehicles to move freely. It offers better acceleration and traction to a vehicle; as a result, its demand is increasing, and it will boost the Automotive Electric Drivetrain System industry. Increasing demand for lightweight driveshaft in the electric vehicle is another factor in the growing demand of the market. According to the US government source for fuel economy information, EVs convert 77% of energy vehicles from the grid while other vehicles only convert 12%-30%. It will propel the demand of the EV sector and further the demand for the market.
Battery technology is constantly improving, and advancement in battery technology has played a crucial part in the growing demand for electric vehicles. With better battery technology, electric vehicles can store power for a long time, boosting the efficiency of electric vehicles. Improved battery technology plays a crucial role in the popularity of EVs, and it will bring opportunities for the Automotive Electric Drivetrain System market. Apart from that, the government is taking initiatives to reduce carbon emissions in the environment. It will bring opportunities for the EV sectors, a positive sign for the Automotive Electric Drivetrain System industry.
One of the major restraints in the market is the infrastructure. The power station is important so that people will be able to charge their electric vehicles. So lack of infrastructure and installation of the power station declined the EVs market demand, and it has become a big restraint for the market. Apart from that, fluctuations in the raw materials for EV production are hampering the market trends.
One of the major challenges in the market is the lack of technological advancements in underdeveloped areas. Their people are not aware of advanced technology. Another challenge is the high investment while buying an EV. People with low purchasing power are not ready to make such investments. The key players in the market are trying their best to overcome these challenges and increase the market demand in the forecast period.
Cumulative growth analysis
The Automotive Electric Drivetrain System market value was $71.86 billion in 2020 and is expected to reach $256 billion, and it shows the rapid growth of the market. The market is growing faster and is expected to witness a healthy CAGR of 5.98%.
The Automotive Electric Drivetrain System global market is segmented based on type, electric drivetrain type, and vehicle type.
The global market is segmented into rear-wheel type, all-wheel type, and front-wheel type. The all-wheel type is expected to hold the highest market share during the forecast period because it offers power to all vehicles. Front-wheel drive is expected to hold the second-largest market share because it reduces carbon emissions and increases fuel efficiency.
The global market is divided into PHEV, HEV, and BEV based on electric drivetrain type. The BEV is all set to dominate the market and hold the highest market share because it reduces CO2 emissions and has low vehicle costs.
The global market is segmented into commercial cars and passenger cars based on vehicle type. The passenger car segment is expected to dominate the market.
The major regions in the Automotive Electric Drivetrain System market are North America, Asia-Pacific, Europe, and the rest of the world. The Asia-Pacific region is expected to hold the highest share in the market in the forecast period due to the rise in vehicles production. The front-wheel segment dominates this region because of its ability to deliver better fuel-efficient and better quality vehicles. The countries like China and India, Automotive Electric Drivetrain Systems has huge demand among the manufacturer. The European region is expected to hold the second-highest share in the market, owing to the presence of major automotive manufacturers.
This global Automotive Electric Drivetrain System market report is based on the qualitative and quantitative analysis of the market. It highlights the automotive drivetrain system market overviews, covid-19 analysis, market dynamics, and analysis. This market report also gives information about the regional analysis, competitive landscape, and recent market development.
Global Market, By Type
Global Market, By Electric drivetrain type
Global Market, By Vehicle type
|Market Size||2030: USD 2,56,015.02 Million|
|CAGR||5.98% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Electric Vehicle Drivetrain Type and Vehicle Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Aisin Seiki Co., Ltd. (Japan), American Axle & Manufacturing, Inc. (U.S.), GKN plc. (U.S.), Magna International Inc. (Canada), BorgWarner Inc. (U.S.), Dana Holding Corporation (U.S.), JTEKT Corporation (Japan), TM4 (Canada), Magtec (U.K.), Delphi Automotive LLP (U.K), Visedo (Finland), Parker Hannifin Corp (U.S.), Punch Powertrain Nv (Belgium), AVTEC LTD (India), AxleTech International SAS (U.S.).|
|Key Market Opportunities||Increase in the sale for electric vehicle will lead to rise in the sale of drive train|
|Key Market Drivers||Increase in the use of electric drivetrain in all types of vehicle Increased fuel efficiency of vehicles|
The automotive electric drivetrain system market can thrive at 5.98% CAGR by 2030.
The automotive electric drivetrain system market can value at USD 2,56,015.02 Bn by 2030.
Punch Powertrain Nv (Belgium), Parker Hannifin Corp (U.S.), AxleTech International SAS (U.S.), and AVTEC LTD (India) are some reputed names in the automotive electric drivetrain system market.
BEV, HEV, and PHEV are automotive electric drivetrain system types.
The growing popularity of all-wheel-drive (AWD) among people of the US can impel the automotive electric drivetrain system market growth in North America.
Asia-pacific holds the highest Automotive Electric Drivetrain System market share.
In 2020 the value of the Automotive Electric Drivetrain System market was $71.86 billion.