Global Automotive Drivetrain Market size was valuded at USD 185.36 billion in 2021 and is expected to reach USD 315 billion by 2029, growing at a CAGR of 7.5 % during the forecast period.
Pune, 21, Nov, 2022: Maximize Market Research has published market intelligence report on “Automotive Drivetrain Market”. The report provides drivers, challenges, restraints, and opportunities prevailing in the market. The report expects growth from USD 185.36 billion in 2021 to USD 315 billion in 2029, at a CAGR of 7.5 percent for the forecast period from 2022 to 2029.
Automotive Drivetrain Market Scope and Methodology
The report is a systematic analysis of the Automotive Drivetrain industry at a local, regional and global level. The report includes current trends and highlights prevailing in the Automotive Drivetrain Market that gives a thorough analysis of the growth rate with its fluctuations. The report acts as an investor’s guide since it provides a comprehensive picture of the competitive landscape of the Automotive Drivetrain Market by goods and services, revenue, financial status, portfolio, growth strategies, and geographical presence. Analysis of new entrants equipped with future outlook and opportunities in the market is presented in the report. To define future pricing and production strategies, the report provides a demand analysis spanning over the forecast period.
The report provides valuable insights into the market penetration, share and pricing in the Automotive Drivetrain Market. Competitor analysis is conducted to give clients and edge over the competitors and help in product differentiation. Information on key players and new entrants is collected based on goods and services offered, portfolio, technological advancements adopted, mergers and acquisitions, joint ventures, strategic alliances, social media engagement and areas for improvement. Figures and illustrations help clients better understand the market scenario at a glance.
Market estimation by segments was carried out using a bottom-up approach. Data was collected using both primary and secondary data collection methods for the analysis. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs, marketing professionals and customers on the demand side and manufacturers on the supply side were included in the primary methods. Secondary data was methodically collected from a selection of sources to ensure the reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. SWOT analysis was conducted to provide the strengths and weaknesses of the Automotive Drivetrain Market while PESTLE was employed to understand the potential impact of the macro and micro economic, social, political and technological factors affecting the Automotive Drivetrain Market growth.
Revenue, financial status, portfolio, market penetration, technological advancements adopted, mergers and acquisitions, joint venture, strategic alliances, and social media presence is gathered of key players and new market entrants for a thorough competitive analysis. The analysis acts as a guide for stakeholders, investors, market players, followers, and new entrants with an overall view of the Automotive Drivetrain Market for formulating investment approaches, aggressive marketing tactics, and establishing a strong presence in the market.
The bottom-up approach was employed to validate the market size by different segments. Data was collected employing both primary and secondary data collection methods. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs, and marketing professionals were included in the primary methods. Secondary data was meticulously collected from a curated selection of sources for maximum reliability of the inferences. SWOT analysis was conducted to provide the strengths and weaknesses of the Automotive Drivetrain Market while PESTLE was employed to understand the impact of the macro-economic factors affecting the Automotive Drivetrain Market.
Automotive Drivetrain Market Overview
An automotive drivetrain is a combination of various components that provide power to the wheels of a vehicle. Developed countries such as China and India aim to enhance electric vehicle manufacturing through laws and incentives. Automotive drivetrain performance is increasing as a result of technical improvements and the growing popularity of electric vehicles, which is expected to drive the Automotive Drivetrain market growth during the forecast period.
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Automotive Drivetrain Market Dynamics
The consumption of modern vehicles has increased as a result of changing economic conditions and consumer behaviour. The increasing use of electric taxis as transportation vehicles is driving the growth of automobile parts, particularly the drivetrain system. Because of their high compatibility with these vehicles, manufacturers are focused on the adoption of electric drive systems and other electric automobile equipment. Stricter government rules on CO2 emissions are accelerating the adoption of electric vehicles. Electric vehicle use has lowered pollutants to some extent, which is expected to be a key factor in the growth of the global automotive drivetrain industry.
Automobile manufacturers are concentrating their efforts on the development of innovative electric vehicle systems that are inexpensive and deliver the greatest mileage. Companies have also begun to produce smaller engines. Companies have begun to provide in-wheel hub drives, which include an electric motor, power electronics, brake, and cooling system that are mounted directly in the wheel rim. During the forecast period, the advancement of wheel hub motor technology with enhanced features and e-axle compatibility is expected to increase the growth of the Automotive drivetrain market.
One of the causes for the rise in automotive pricing is the high cost of drivetrain systems. As a result, high costs are restricting the adoption of electric vehicles in nations other than China. The high cost of an electric vehicle as a whole is expected to hamper the growth of the automotive drivetrain sector. The electric vehicle market, on the other hand, is fast growing, which may reduce the impact of this constraint over the forecast period as manufacturers achieve economies of scale.
Automotive Drivetrain Market Regional Insights
In North America, Automotive Drivetrain is expected to witness the highest revenue growth during the forecast period. North America leads the world in technical developments and the adoption of cutting-edge technologies. The latest hybrid and electronic automobile advancements, such as wheel hub motors and e-axle compatibility, are successfully increasing automotive drivetrain industry demand in North America. Customers' comparatively high purchasing power and rapid technological advancement in this region are expected to stimulate demand for e-cars and vehicles, driving demand for Automotive drivetrain market growth.
The Asia-Pacific region dominated the global Automotive Drivetrain market share in 2021. Higher adoption rates of smart mobility services, more regulatory regulations, a rise in fuel prices, and an increase in the trend toward non-fossil fuel-based automobiles are expected to drive the Automotive Drivetrain market growth in this region. The Japanese government has launched several measures to enhance logistics and accelerate construction in this region. This factor has increased demand for heavy-duty vehicles with greater load balance and fuel economy, resulting in increased usage of Japan's automotive drivetrain market.
Automotive Drivetrain Market Segmentation
By Vehicle Type
By Drive Type
Automotive Drivetrain Market Key Competitors include:
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Key questions answered in the Automotive Drivetrain Market are:
Key Offerings:
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Nov 21, 2022
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