Automotive Electric Drivetrain System Market A Latest Research Report to Share Market Insights and Dynamics to 2030
Automotive Electric Drivetrain System 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.
Automotive Electric Drivetrain System 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.
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