Automotive Electric Drivetrain System Market to Witness Astonishing Growth by 2030
Market Overview -
According to Market Research Future (MRFR), the global
automotive electric drivetrain system market is projected to reach USD 256
billion at a CAGR of 5.98% from (forecast period). The study offers a broad
analysis of the effects of the COVID-19 pandemic on the global automotive
electric drivetrain system market.
The switch from manual transmission to electrification is
one of the most significant developments in the automotive industry. The
automotive drivetrain is a vehicle component that includes drive shafts,
wheels, axles, U joints, CV joints, and transmission. All parts of the
drivetrain are responsible for providing the transmission to move the wheels of
the vehicle forward. In other words, it's transferring power to the wheels of
the vehicle.
The driveshaft is the long steel structure in a tubular form
attached to the vehicle gearbox to provide a rotary movement in the wheel. The
universal joint is the key component that allows the wheel to move at various
angles.
The axle is the connected shaft between the wheels and the
drive system and provides the transmitting power to the wheel to make it
rotate. The drivetrain is also known as the powertrain train. The only
variation is that the powertrain consists of a complete system that provides
power to the wheels while the drivetrain consists of components that connect
the driveline and wheel. In the future, the electric drivetrain will replace
the manual drivetrain because of its improved efficiency and environmental
friendliness.
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Top Vendors
AxleTech International SAS (U.S.), Dana Holding Corporation
(U.S.), Parker Hannifin Corp (U.S.), GKN plc. (U.S.), AVTEC LTD (India),
JTEKT Corporation (Japan), TM4 (Canada), Magtec (U.K.), Delphi Automotive LLP
(U.K), Visedo (Finland), Aisin Seiki Co. Ltd. (Japan), Punch Powertrain Nv
(Belgium), BorgWarner Inc. (U.S.), American Axle & Manufacturing, Inc.
(U.S.), Magna International Inc. (Canada), are among the top vendors in the
market for automotive electric drivetrain system.
Primary Drivers and Main Challenges
The move towards electrification has been one of the most
noteworthy changes in the automotive industry. It is safe to say that the chief
reason behind the switch to electrification has been environmental. The
mounting concerns regarding the climate change drove the automotive industry’s
interest in electricity. Bosch has been one of the leading companies with
expertise in electrification and is currently working on developing hybrid and
electric drivetrains for various renowned manufacturers, including Audi,
Volkswagen, Porsche, Fiat and BMW, to name a few.
Electric drivetrain is anticipated to replace manual
transmission drivetrain in the next couple of years, thanks to its high
efficiency as well as eco-friendliness. Strict rules and regulations pertaining
to the carbon emission surge have helped boost the sale of electric driven
vehicle, leading to automotive electric drivetrain market expansion around the
world.
Various government bodies are giving strong support to the
automotive industry’s transition to electric vehicles. They are implementing
several initiatives that back the sale of electric vehicles, with the main
objective of curbing the emission from vehicles and improve the health of the
environment. On top of that, the surge in research and development (R&D)
activities to make electric & hybrid vehicles more advanced, rapid increase
in technological advancements, and the tremendous growth in effective marketing
strategies offer lucrative opportunities for the automotive drivetrain
technology market expansion.
Market Segmentation
The research on the automotive electric drivetrain system
market covers segments like types, electric drivetrain types and vehicle type.
The segments, with respect to the type, include rear wheel drive,
front wheel drive and all-wheel drive. The highest growth can be exhibited by
all-wheel drive in the market, given its ability to offer power to every type
of vehicle. Front-wheel-drive can be the second most lucrative segment, among
all the types, since it helps offer fuel efficiency while bringing down the
carbon emission.
The electric drivetrain types studied are PHEV, HEV and BEV.
BEV or Battery Electric Vehicle is all set to gain the highest share in the
automotive electric drivetrain market because of their low cost and tendency to
bring down the CO2 emission. The rising sale of electric vehicles can lead to
excellent growth for battery electric vehicles in the coming years.
Vehicles types covered by MRFR experts are commercial and
passenger.
Regional Outlook
The regional outlook of the automotive electric drivetrain
system market covers Asia Pacific (APAC), North America, Europe, and the Rest
of the World (RoW).
APAC has the highest chance of gaining the top spot in the
automotive electric drivetrain system market, on account of the increasing
production of front wheel vehicles, given their ability to facilitate higher
fuel efficiency as well as performance. The front wheel drive mostly exists in
passenger cars that are extremely popular among families. Apart from this, more
and more automotive manufacturers are coming up with a variety of technologies
that offer high efficiency in all-wheel-drive. In China and India, numerous
renowned vendors are planning to develop integrated e-axle systems for passenger
vehicles and commercial vehicles at minimum cost, in order to expand their
customer base, which also benefits the market.
Europe, with the second largest share, is a strong contender
in the global market. A huge number of automotive manufacturers in the region
are busy developing cutting-edge electric, fuel cell and hybrid technology for
vehicles to offer better efficiency. In addition this factor, the regional
market also gains from the increasing pollution, the progressing automobile
industry, and depletion of fossil fuel reserves.
Continue.......
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