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

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.