USD 345.42 billion
Automotive Drivetrain Market Size, Share, Growth Analysis, By Vehicle Type(Passenger Car, Light Commercial Vehicles, Heavy Commercial Vehicles (Trucks, Buses)), By Drive Type(Front Wheel Drive, Rear Wheel Drive, All-Wheel Drive), By Electric Vehicle Type(Battery Electric Vehicles, Plug-In Hybrid Electric Vehicles, Hybrid Electric Vehicles), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2111 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|Tables:
63
|Figures:
65
Automotive Drivetrain Market Insights
Global Automotive Drivetrain Market size was valued at USD 219.25 billion in 2022 and is poised to grow from USD 232.84 billion in 2023 to USD 376.76 billion by 2031, growing at a CAGR of 6.20% during the forecast period (2024-2031).
The Automotive Drivetrain, also known as the powertrain or driveline, is responsible for transmitting power to the driving wheels of vehicles, enabling their movement, engine performance, and wheel operation. This system incorporates various components like wheels, drive shafts, U-joints, and CV joints. It offers improved vehicle performance and fuel efficiency. The market's growth is driven by the increasing demand for automobiles that provide enhanced driving experiences, comfort, and safety. Additionally, the rise of electric vehicles has further boosted the sales of automotive drivetrain systems, as countries support their production and sales through strict regulations, subsidies, tax credits, and other incentives. Moreover, the adoption of lightweight driveshafts for better fuel efficiency and performance contributes to a positive market outlook.
The market for automotive drivetrain systems is experiencing substantial growth due to the growing consumer demand for vehicles that offer enhanced driving experience, comfort, and safety. Additionally, the increasing popularity of electric vehicles is driving the sales of automotive drivetrain systems, as these vehicles require specialized drivetrain components to function efficiently.
US Automotive Drivetrain Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
FWD
Fastest Growth
FWD
Growth Rate
7.21% CAGR
Global Automotive Drivetrain Market ($ Bn)
Country Share for North America Region (%)
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Automotive Drivetrain Market Segmental Analysis
Global Automotive Drivetrain Market is segmented by Vehicle Type, Drive Type, Electric Vehicle Type, and Region. Based on Vehicle Type, the market is segmented into Passenger Car, Light Commercial Vehicles, Heavy Commercial Vehicles (Trucks, Buses). Based on Drive Type, the market is segmented into Front Wheel Drive, Rear Wheel Drive, All-Wheel Drive. Based on Electric Vehicle Type, the market is segmented into Battery Electric Vehicles, Plug-In Hybrid Electric Vehicles, Hybrid Electric Vehicles. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Automotive Drivetrain Market Analysis By Drive Type
The dominant segment in the Global Automotive Drivetrain Market is Front-Wheel Drive (FWD). FWD has been a prevalent choice for many passenger cars and smaller vehicles for several decades. Its dominance can be attributed to its cost-effectiveness, space-efficient design, and better fuel efficiency compared to AWD and RWD systems. FWD drivetrains offer simplified vehicle architecture and reduced mechanical complexity, making them an attractive option for mass-market vehicles.
On the other hand, the fastest-growing segment Is All-Wheel Drive (AWD). AWD systems have gained popularity due to their enhanced traction and stability, particularly in challenging road conditions like snow, ice, or off-road terrains. AWD distributes power to all four wheels, providing better grip and control, which appeals to consumers seeking improved safety and performance. As demand for SUVs and crossovers has surged, AWD has become a sought-after feature in these vehicles, driving its rapid growth in the market.
Automotive Drivetrain Market Analysis By Vehicle type
The dominant segment in Global Automotive Drivetrain market is the Passenger Car category. Passenger cars have long been the backbone of the automotive industry, representing a significant portion of the overall vehicle market. The drivetrain systems in passenger cars cater to a wide range of consumers with diverse preferences, from economical compact cars to high-performance luxury vehicles. As a result, manufacturers invest heavily in research and development to continuously improve drivetrain technologies for passenger cars, making this segment the most dominant in the market.
On the other hand, the fastest-growing segment in the Global Automotive Drivetrain market is the Electric Vehicles (EVs) category. With the increasing emphasis on environmental sustainability and a shift towards cleaner transportation, electric vehicles have gained immense popularity worldwide. Drivetrain systems for EVs are fundamentally different from traditional internal combustion engine vehicles, as they rely on electric motors and battery packs instead of conventional engines and fuel tanks. The rapid advancements in battery technology, increased charging infrastructure, and government incentives have significantly boosted the adoption of electric vehicles, leading to a surge in demand for drivetrain systems tailored for EVs. As electric mobility continues to expand and evolve, the electric vehicle segment is expected to be the fastest-growing in the automotive drivetrain market in the coming years.
Global Automotive Drivetrain Market By Drive Type
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Automotive Drivetrain Market Regional Insights
North America is the dominant region in the Global Automotive Drivetrain market, driven by the presence of established automotive manufacturers, technological advancements, and a strong consumer base. The region's focus on innovation and the adoption of electric and hybrid vehicles contribute to its dominance.
On the other hand, Asia-Pacific is the fastest-growing region in the Global Automotive Drivetrain Market. The region's expanding middle-class population, rapid urbanization, and growing disposable incomes have led to increased automobile sales. As a result, there is a rising demand for drivetrain systems to cater to the production of vehicles in this region. Furthermore, the Asia-Pacific region is witnessing a surge in the adoption of electric vehicles, driven by government incentives and environmental concerns. This shift towards electric mobility has boosted the demand for electric drivetrain components, contributing to the region's rapid growth.
Global Automotive Drivetrain Market By Geography
- Largest
- Fastest
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Automotive Drivetrain Market Dynamics
Automotive Drivetrain Market Drivers
Growing Consumer Demand
- The increasing demand for automobiles with improved driving experience, comfort, and safety is a significant driver of the drivetrain market. Consumers are seeking vehicles that offer better performance, handling, and efficiency, which in turn fuels the demand for advanced drivetrain systems.
Rise of Electric Vehicles (EVs)
- The shift towards electric mobility is another key driver for the drivetrain market. As the adoption of electric vehicles increases, there is a higher demand for specialized drivetrain components, such as electric motors, power electronics, and battery systems, which are essential for the functioning of EVs.
Automotive Drivetrain Market Restraints
High Development Costs
- The development of advanced drivetrain technologies and components involves substantial research, engineering, and testing costs. These high development expenses can pose a restraint, particularly for smaller manufacturers and start-ups, limiting their ability to enter the market or compete with established players.
Infrastructure Challenges
- The widespread adoption of electric vehicles faces challenges related to charging infrastructure. The availability of charging stations and charging times for EVs may impact consumer adoption rates and hinder the growth of the automotive drivetrain market, especially in regions with limited charging infrastructure.
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Automotive Drivetrain Market Competitive Landscape
Global Automotive Drivetrain Market is highly competitive and characterized by the presence of several key players. Established automobile manufacturers, as well as specialized drivetrain component suppliers, compete for market share. Companies strive to innovate and introduce advanced drivetrain technologies to meet the growing demands of consumers for improved performance, fuel efficiency, and sustainability. Additionally, the market is witnessing collaborations and partnerships between automakers and drivetrain manufacturers to leverage their expertise and resources. Continuous research and development efforts, along with a focus on cost-effectiveness and quality, are crucial in maintaining a competitive edge in this dynamic industry.
Automotive Drivetrain Market Top Player’s Company Profiles
- Aisin Seiki Co., Ltd.
- American Axle & Manufacturing, Inc.
- BorgWarner Inc.
- Melrose Industries
- ZF Friedrichshafen AG
- Magna International Inc.
- Dana Holding Corporation
- JTEKT Corporation
- Schaeffler Group
- Cummins Inc
- Hyundai WIA Corporation
- Valeo SA
- Linamar Corporation
- Hitachi
- Eaton Corporation
- NTN Corporation
Automotive Drivetrain Market Recent Developments
- In May 2021, American Axle & Manufacturing, Inc., a prominent driveline supplier, entered into a partnership with REE Automotive to collaboratively develop a new electric propulsion system for e-mobility. This initiative involves creating electric drive units for electric vehicles at AAM's Advanced Technology and Development Center in Detroit, with the goal of delivering them by the end of 2021.
- In June 2021, the Hyundai Motor Group selected BorgWarner's integrated drive module (iDM) for its power electric system, intended for use in the upcoming A-segment electric vehicle production starting in mid-2023. BorgWarner's advanced iDM incorporates an electric motor, gearbox, and integrated power electronics, which supports global automakers in their endeavors to manufacture cleaner and more efficient vehicles.
Automotive Drivetrain Key Market Trends
- Electrification: The shift towards electric vehicles (EVs) and hybrid electric vehicles (HEVs) has been a significant trend in the automotive drivetrain market. With increasing environmental concerns and stricter emission regulations, automakers are focusing on developing and integrating electric drivetrain systems. This trend includes advancements in battery technology, electric motors, power electronics, and regenerative braking systems to improve the efficiency and range of electric vehicles.
- Lightweight Materials and Efficiency: Another crucial trend in the automotive drivetrain market is the adoption of lightweight materials and technologies to improve overall vehicle efficiency. Reducing weight in drivetrain components helps enhance fuel efficiency in internal combustion engine vehicles and extends the range of electric vehicles. Advancements in materials like high-strength steel, aluminum, and composite materials are being utilized to design drivetrain components that are both lightweight and durable.
Automotive Drivetrain Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Automotive Drivetrain Market analysis, the market is witnessing significant growth driven by the increasing demand for vehicles that provide better driving experience, comfort, and safety. Furthermore, the rising adoption of electric vehicles is fueling the demand for drivetrain systems optimized for electric powertrains. Challenges in the market include developing drivetrain technologies that can handle higher power outputs and torque demands in electric vehicles while maintaining efficiency and reliability. Additionally, manufacturers face the task of integrating advanced drivetrain components with complex vehicle systems and ensuring compatibility with emerging technologies like autonomous driving.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 219.25 billion |
| Market size value in 2031 | USD 376.76 billion |
| Growth Rate | 6.20% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Drivetrain Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Drivetrain Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Drivetrain Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Drivetrain Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Drivetrain Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Drivetrain Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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