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[ 176 + Pages Research Report ] Impact COVID-19 on Automotive Drivetrain Market to surpass valued at 219.1 billion in 2021 at a CAGR of 6.4%.
The term "automotive drivetrain" refers to a system made up of different components such as driveshaft, axles, CV joints, U joints, wheels, and transmissions that transfer energy or torque to the vehicle's driving wheels to propel it forward. Driveshafts help the wheels rotate, U joints deliver power to the wheel at various angles, and CV joints can curve in any direction, allowing the wheels to move at a consistent speed. Transmissions carry engine power to the driveshaft as well as the rear wheels, while axles distribute power from the final drive wheel assembly to the wheels. The drivetrain is a collection of components that transmit power from the vehicle's engine or motor towards the wheels. Transmissions, driveshafts, differentials, axles, wheels, & other components are included. It's also the component of a motor vehicle that links the engine or motor and transmission towards the wheel axle.
Global Automotive Drivetrain market is expected to project a notable CAGR of 6.4% in 2031.
The increasing manufacturing of automobiles is driving the expansion of the drivetrain market. Wide adoption of technologically upgraded drivetrain systems with favorable features such as greater fuel economy & improved vehicle performance is also contributing to the market's growth. However, problems such as the expensive cost of AWD systems and rising fuel prices are limiting the market's expansion.
Global Automotive Drivetrain: Segments
An all-Wheel-Drive segment to grow with the highest CAGR during 2021-31
The market is divided into three categories based on drive type: all-wheel drive, front-wheel drive, and rear-wheel drive. During the projected period, the All-Wheel-Drive sector is expected to grow at the fastest rate. AWD systems give superior traction and control, as well as high power; AWD is standard on most sports utility vehicles, contributing to the segment's rise (SUVs). In conjunction with AWD, it has counting stability control and anti-slip. Because of the reduced drag on the drivetrain, this type also helps to reduce fuel consumption.
Electric Vehicles segment to grow with the highest CAGR during 2021-31
The market is divided into Heavy Commercial Vehicle, Light Commercial Vehicle, Passenger Cars, and Electric Vehicle based on vehicle type. During the projection period, the Electric Vehicle sector is anticipated to develop considerably in terms of volumes and has the highest CAGR. The issues can be ascribed to strict emission regulations, environmental concerns, and technological innovation. Furthermore, government incentives such as tax breaks, free parking, and other subsidies are driving up demand for electric vehicles.
Increasing use of Emissions restrictions to minimize vehicle weight and emissions
One of the factors fueling the demand for the automotive drivetrain market is rising vehicle demand and production. Due to their lightweight nature and better economy, electric vehicles have seen a boom in demand. This has increased the use of electric axles and in-wheel hub motors in all types of cars. Furthermore, such an installation reduces CO2 emissions and the amount of space necessary for engines. Combustion is used to generate power in a traditional gas-powered vehicle. The automobile powertrain market is also fueled by the depreciation of drivetrain components. As a result of this circumstance, certain components are at risk of depreciation.
Increased technological progress
Automobile manufacturers are concentrating their efforts on the development of superior electric vehicle systems with the maximum possible mileage and cheap costs. One of the major reasons driving the market growth is the expanding automotive sector globally. In addition, the growing popularity of hybrid & electric vehicles (H/EVs) is boosting the market growth. Automotive manufacturers are increasingly incorporating high-quality drivetrains into their vehicles to increase passenger comfort and safety. The drivetrain components are also utilized to adjust the amount of torque provided to the engine, allowing for better acceleration, traction, and towing.
High acceptance and maintenance cost
The high adoption & maintenance costs of vehicles with all-wheel drive are a major stumbling block to the demand for automotive drivetrains. Furthermore, all-wheel-drive systems are more expensive than traditional front-wheel drive and rear-wheel drive systems. All-wheel drive systems also contain extra components including driveshafts, transfer cases, and locking hubs.
Global Automotive Drivetrain: Key Players
Aisin Seiki Co. Ltd.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
American Axle & Manufacturing Inc.
ZF Friedrichshafen AG (Zeppelin-Stiftung)
GKN Automotive Limited (Melrose Industries)
Magna International Inc.
Schaeffler Technologies AG & Co. KG
Other Prominent Players
Global Automotive Drivetrain: Regions
Global Automotive Drivetrain market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. In terms of value, the Asia-Pacific region has the largest powertrain market. The expanding automobile production and the increase in passenger vehicle penetration in the area are the key factors driving the growth of the drivetrain industry in the region. The Asia-Pacific region's increased demand for AWD-equipped vehicles is expected to boost the market for all-wheel-drive systems. The Asia-Pacific area has seen a tremendous increase in sales of new automobiles fitted with high-demand powertrain technologies.
Impact of Covid-19 on Automotive Drivetrain Market
Unprecedented problems as a result of the pandemic's unpredicted third and subsequent waves are producing a bleak picture. The automotive drivetrain industry is rapidly approaching pre-COVID levels, with a robust growth rate predicted over the forecast period, owing to the economic recovery in most emerging countries. The frequent stoppage of public transportation networks, along with the virus's highly contagious nature, fueled demand for passenger automobiles, increasing in demand for Automobile Drivetrain components.
Global Automotive Drivetrain is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - the United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
the Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa and Rest of MENA
Global Automotive Drivetrain report also contains analysis on:
Automotive Drivetrain Segments:
By Drive Type
Rear Wheel Drive
By Vehicle type
Heavy Commercial Vehicles
Light Commercial Vehicles
Wheel hub module
Automotive Drivetrain Dynamics
Automotive Drivetrain Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Automotive Drivetrain Market Report Scope and Segmentation
Report Attribute Details
The market size value in 2021 219.1 billion
The revenue forecast in 2031 408.5 billion
Growth Rate CAGR of 6.4% from 2021 to 2031
The base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2031
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Drive Type, Vehicle Type, Technology, and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled American Axle & Manufacturing Inc., Borgwarner Inc., Dana Incorporated, ZF Friedrichshafen AG (Zeppelin-Stiftung), GKN Automotive Limited (Melrose Industries), JTEKT Corporation, Magna International Inc., Showa Corporation and Other Prominent Players.