Press Release

Automotive Drivetrain Technology Market to Grow with a CAGR of 5.5% through 2028

Rising electrification and reduced emissions, alongside the demand for enhanced vehicle performance, are the factors driving Global Automotive Drivetrain Technology Market in the forecast period.

 

According to TechSci Research report, “Automotive Drivetrain Technology Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Automotive Drivetrain Technology Market stood USD 35.2 billion in 2022 and is anticipated to grow with a CAGR of 5.5% in the forecast period, 2024-2028. The global automotive drivetrain technology market has witnessed significant evolution and innovation, reflecting the dynamic nature of the automotive industry. Drivetrain technology encompasses the vital components responsible for power transmission from the engine to the wheels of a vehicle, and it plays a pivotal role in determining a vehicle's performance, efficiency, and environmental impact. One of the primary drivers shaping the automotive drivetrain technology market is the ever-increasing stringency of environmental regulations. Governments worldwide are imposing stricter emissions standards, compelling automakers to develop more fuel-efficient and environmentally friendly drivetrain solutions. As a result, there's a noticeable shift toward alternative propulsion systems, such as electric and hybrid drivetrains, which are more sustainable and emit fewer greenhouse gases.

Consumer preferences are also instrumental in reshaping the automotive drivetrain landscape. The rising awareness of environmental issues, coupled with a growing desire for cleaner and more economical transportation, has led to a surge in the adoption of electric vehicles (EVs). Battery Electric Vehicles (BEVs) and Hybrid Electric Vehicles (HEVs) have become increasingly popular choices among consumers, driving investments in electric drivetrain technology. Technological advancements have played a pivotal role in enhancing the efficiency and performance of automotive drivetrains. Innovations in materials, design, and manufacturing techniques have allowed for the creation of more durable and lightweight drivetrain components. These improvements not only increase vehicle efficiency but also contribute to reducing maintenance costs over the long term.

Furthermore, the development of autonomous vehicles has reshaped drivetrain technology. Autonomous driving relies heavily on advanced drivetrain systems to enable precise control, quick response times, and fail-safe mechanisms. This has led to a greater emphasis on redundancy and the integration of intelligent sensors and software within drivetrain components. Segmentation in the drivetrain technology market is often based on vehicle type, with distinctions between passenger cars and commercial vehicles. Drivetrain types include Internal Combustion Engine (ICE) and electric, with the latter experiencing significant growth. Regional factors also influence market dynamics, with North America, Europe, and Asia-Pacific being key regions for automotive drivetrain technology development and adoption.

The global automotive drivetrain technology market is undergoing a transformative shift driven by environmental concerns, consumer preferences, technological advancements, and the rise of electric and autonomous vehicles. The continued evolution of drivetrain technology promises to deliver vehicles that are more efficient, eco-friendly, and capable of meeting the demands of a rapidly changing automotive landscape. As the industry continues to innovate, it will be essential for stakeholders to stay informed about the latest trends and developments to remain competitive in this dynamic market.

 

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Automotive Drivetrain Technology Market.”

 

North America is a significant player in the global automotive drivetrain technology market, with the United States and Canada as major contributors. In this region, there has been a notable trend toward electric drivetrains, driven by stringent emissions regulations and consumer demand for cleaner transportation options. Automakers in North America are investing heavily in electric vehicle (EV) technology, including battery production and charging infrastructure. Additionally, the region has a strong presence of traditional automakers and emerging startups working on autonomous driving technology, influencing drivetrain innovation.

Europe is at the forefront of the transition to electric mobility and has set ambitious goals to reduce CO2 emissions. The European Union's stringent emission standards and incentives for EV adoption have accelerated the development of electric drivetrain technology. Countries like Germany, home to some of the world's leading automakers, are at the forefront of EV innovation. Additionally, European governments are investing in charging infrastructure to support the growth of electric vehicles. A focus on lightweight materials and advanced transmission technology also characterizes the European market.

The Asia-Pacific region, particularly China, Japan, and South Korea, has seen rapid growth in the automotive drivetrain technology market. China is the world's largest electric vehicle market, with a strong emphasis on electric drivetrain technology and battery production. Japan is known for its innovation in hybrid technology, while South Korea's automotive giants are investing heavily in electric and autonomous drivetrains. The region is also experiencing growth in all-wheel drive (AWD) and four-wheel drive (4WD) drivetrain systems, catering to varying terrain and weather conditions.

South America has a growing market for automotive drivetrain technology, primarily driven by consumer demand for fuel-efficient and cost-effective vehicles. While internal combustion engines (ICE) still dominate the market, the region is gradually showing interest in alternative drivetrain technologies. Economic factors, such as fuel prices and government incentives, play a significant role in shaping drivetrain choices in this region.

The Middle East and Africa have traditionally been dominated by ICE-powered vehicles due to abundant oil resources. However, there is a growing interest in electric and hybrid drivetrain technologies, partly driven by environmental concerns and global efforts to reduce greenhouse gas emissions. These regions are also exploring opportunities in AWD and 4WD systems, catering to rough terrains and off-road capabilities.

 

Major companies operating in Global Automotive Drivetrain Technology Market are:

  • Gkn Plc
  • Dana Incorporated
  • Borgwarner Inc.
  • Nidec Corporation
  • Zf Friedrichshafen Ag
  • Avl List Gmbh
  • Axletech International
  • Continental Ag
  • Schaeffler Technologies Ag & Co. Kg
  • Robert Bosch Gmbh

Download Free Sample Report

Customers can also request for 10% free customization on this report.

 

“The global automotive drivetrain technology market is undergoing a transformative shift like never before. We are witnessing a remarkable convergence of factors, including increasingly stringent emissions regulations, rising consumer demand for sustainable transportation, and rapid technological advancements. Electric drivetrains are becoming the new norm, and the race to develop high-capacity batteries, efficient electric motors, and advanced power electronics is fierce. Moreover, the integration of connectivity and autonomous features within drivetrains is reshaping the industry, promising safer and more efficient vehicles. Regional disparities remain, with North America and Europe leading in electric vehicle adoption, while Asia-Pacific is a hub for manufacturing and innovation. To succeed in this dynamic landscape, automakers and suppliers must be agile, adaptable, and committed to pushing the boundaries of what drivetrain technology can achieve in terms of efficiency, performance, and environmental sustainability.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Global Automotive Drivetrain Technology Market Global Automotive Drivetrain Technology Market By Vehicle Type (Passenger Car, Buses, and Trucks) and By Technology (Central Motor, E-axle, and Wheel Hub Module), By Region, By Competition Forecast & Opportunities, 2018-2028F.”, has evaluated the future growth potential of Global Automotive Drivetrain Technology Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Automotive Drivetrain Technology Market.

 

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York 10017

Tel: +1-646-360-1656

Email: [email protected]

Website: www.techsciresearch.com

Relevant Reports

Automotive Drivetrain Technology Market - Global Industry Size, Share, Trends Opportunity, and Forecast 2018-2028 Segmented By Vehicle Type (Passenger Car, Buses, and Trucks) and By Technology (Central Motor, E-axle, and Wheel Hub Module), By Region, By Competition Forecast & Opportunities

Automotive | Sep, 2023

Rising electrification and reduced emissions, alongside the demand for enhanced vehicle performance and integration with autonomous systems are the factors driving Global Automotive Drivetrain Technology Market in the forecast period.

Relevant News