Global Automotive Drivetrain Market 2023-2030

Global Automotive Drivetrain Market 2023-2030

Global Automotive Drivetrain Market Size, Share & Trends Analysis Report by Drive Type (Front-Wheel Drive (FWD), Rear-Wheel Drive (RWD), All-Wheel Drive(AWD) and Four-Wheel Drive (4 WD)), by Vehicle Type (Passenger Cars, Commercial Vehicles, and Electric Vehicle), Forecast Period (2023-2030)

Global automotive drivetrain market is anticipated to grow at a CAGR of 5.8% during the forecast period (2023-2030). The market growth is attributed to commercial trends across the globe. The availability of the APP550 highlights the continued trend toward electrification in the automobile sector. To comply with environmental rules and consumer demand for cleaner and more efficient automobiles, many automakers are investing in electric drivetrain technology. Accordingly, market players are coming up with new products to cater to the demand for new electric drivetrain. For instance, in April 2023, Volkswagen revealed the 'ID.' EV family's new generation electric drivetrain. The APP550 innovative electric drivetrain powers ID. According to maintains, the APP550 provides superior performance and more efficiency, therefore Compared to its predecessors, the range of the ID. The APP550 was created specifically for Volkswagen's MEB. The platform for (Modular Electric Drive) has been introduced.

Segmental Outlook

The global automotive drivetrain market is segmented on the drive type, absorber type, vehicle type, and application. Based on the vehicle type, the market is sub-segmented passenger cars, commercial vehicles, and electric vehicles. The passenger cars subcategory is expected to capture a significant portion of the market share within the vehicle type segment. This is attributed to the rising income levels among the population have led to an increase in consumer expenditure, on luxuries, and that essentially drives the growth of the automotive drivetrain market.

The Commercial Vehicles Sub-Segment is Anticipated to Hold a Considerable Share of the Global Automotive Drivetrain Market

Among the applications, the commercial vehicles sub-segment is expected to hold a considerable share of the global automotive drivetrain market. The segmental growth is attributed to the developments in electrification. With increasing environmental regulations, a desire for cleaner transportation options, and the possibility for long-term cost savings, the commercial vehicle market has seen a growing drive toward electrification. Delivery vans, city buses, and even some heavy-duty vehicles now frequently use electric powertrains. Accordingly, market players are coming up with new products to cater to the demand for new e-powertrain. For instance, in May 2023, ZF introduced AxTrax 2, a new e-powertrain for commercial vehicles.

Regional Outlook

The global automotive drivetrain market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America).

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Automotive Drivetrain Market

Among all regions, the Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the development of infrastructure across the region. The adoption of electric vehicles is significantly influenced by the availability of charging infrastructure. Sales of EVs can rise as more charging stations are installed across India and consumers grow more assured that they can easily charge their EVs. According to the Economics Times, in August 2023, the EV revolution in India was driven by electric two-wheelers. In 2022–2023, India's cumulative sales of electric cars (EVs) passed the 1 million signify to earn the initial time. More than 60% of all EV sales were made up of two-wheelers, an increase of 183% from 2021 to 2022. Incentives are a significant factor in the increase in sales of electric two-wheelers. Furthermore, in India, the proportion of electric vehicles to all vehicle sales has risen to around 5%. By 2030, the government intends to promote 30% of private automobiles, 70% of commercial vehicles, and 80% of two- and three-wheelers as electric vehicles.

Market Players Outlook

The major companies serving the automotive drivetrain market include Aisin Corp., Eaton Corp., Tenneco Inc., Continental AG, Dana Inc., GKN Automotive Ltd., JTEKT Corp., Magna International Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in December 2022, Delta Electronics utilized NXP's S32 Automotive Platform and collaborative ecosystem to accelerate the development of platforms for the next generation of electric vehicles.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global automotive drivetrain market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.