Automotive Drivetrain Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automotive Drivetrain Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global automotive drivetrain market size reached US$ 200.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 289.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.3% during 2022-2028. The rising sales rate of electric vehicles (EVs), continuous technological developments, and the increasing demand for lightweight driveshafts represent some of the key factors driving the market.

An automotive drivetrain refers to the system that transmits power from the engine to the wheels, enabling a vehicle to move. It is a complex network of components designed to transfer torque and rotational force effectively while accommodating various driving conditions and power demands. It consists of various components, including a driveshaft, which assists in rotary movement, a transmission that helps in transferring power from the engine to the driveshaft and rear wheels, constant velocity (CV) joints, which are designed to be able to bend in any direction to turn the wheels at a constant velocity, and universal (U) joints that transmit power to the wheels to navigate in various angles. It can be categorized into different types, each offering unique advantages in terms of handling, traction, and efficiency. Due to the increasing production of automobiles, automatic drivetrains are gaining traction across the globe.

Automotive Drivetrain Market Trends:

Significant growth in the automotive industry is driving the global market. Moreover, the rising demand for electric and hybrid vehicles among the masses is contributing to the growth of the market. In line with this, due to the implementation of strict emission regulations and incentives for electric vehicles (EVs), several leading players are heavily investing in developing drivetrain systems for EVs, which is impacting the market favorably. Along with this, numerous technological innovations, such as the development of all-wheel drive (AWD) for passenger cars and sports-utility vehicles (SUVs), are acting as other growth-inducing factors. Additionally, several major companies are focussing on extensive research and development (R&D) activities to develop powertrains, fuel cell drivetrains, and autonomous vehicle technologies, which are providing a boost to the market. Besides, the growing consumer demand for vehicles with better fuel efficiency, improved performance, and reduced environmental impact is creating a positive market outlook. Additionally, the rising demand for comfort and safety in vehicles for better control under unfavorable terrain and weather conditions is supporting the overall growth of the automotive drivetrain market. Furthermore, the growing demand for lightweight driveshafts for enhanced fuel efficiencies is also contributing to the market. Other factors, such as advancements in battery technology, increasing awareness of the environmental impact, increasing focus on lightweight materials, and ongoing infrastructural development, are projected to propel the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive drivetrain market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on vehicle type and drive type.

Vehicle Type Insights:

Passenger Cars

Light Commercial Vehicles

Heavy Commercial Vehicles

Others



The report has provided a detailed breakup and analysis of the automotive drivetrain market based on the vehicle type. This includes passenger cars, light commercial vehicles, heavy commercial vehicles, and others. According to the report, passenger cars represented the largest segment.

Drive Type Insights:

All Wheel Drive

Front Wheel Drive

Rear Wheel Drive



A detailed breakup and analysis of the automotive drivetrain market based on the drive type has also been provided in the report. This includes all wheel driver, front wheel drive, and rear wheel drive. According to the report, front wheel drive type accounted for the largest market share.

Regional Insights:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa



The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific holds a leading position in the market. Some of the factors driving the Asia Pacific automotive drivetrain market included continual technological advancements, extensive research and development (R&D) activities, intensive business competition, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global automotive drivetrain market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Aisin Seiki Co. Ltd., American Axle & Manufacturing Inc., Borgwarner Inc., Dana Incorporated, ZF Friedrichshafen AG (9Zeppelin-Stiftung), GKN Automotive Limited (Melrose Industries), JTEKT Corporation, Magna International Inc., Schaeffler Technologies AG & Co. KG and Showa Corporation. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global automotive drivetrain market in 2022?

2. What is the expected growth rate of the global automotive drivetrain market during 2023-2028?

3. What are the key factors driving the global automotive drivetrain market?

4. What has been the impact of COVID-19 on the global automotive drivetrain market?

5. What is the breakup of the global automotive drivetrain market based on the vehicle type?

6. What is the breakup of the global automotive drivetrain market based on the drive type?

7. What are the key regions in the global automotive drivetrain market?

8. Who are the key players/companies in the global automotive drivetrain market?