Global Automotive Electric Drivetrain System Market accounted for US$ 5.86 billion in 2020 and is estimated to be US$ 30.93 billion by 2030 and is anticipated to register a CAGR of 18.3%.The hybrid car's structure is identical to that of an ICE vehicle, with the exception of electric motors and drive cycle operation. The electric drive module, inverter, and Power Delivery Module are the main components of an electric vehicle's drivetrain (PDM). The size and component arrangement are determined by the vehicle's size and power output, which affects the cost of automobile electric drivetrain components. The market for hybrid drivetrains will be limited due to a lack of vehicle charging infrastructure. The adoption of hybrid and electric vehicles will be limited in emerging nations due to a lack of charging outlets. Furthermore, to develop a secure supply chain and solve resource need limits, supply bottlenecks for lithium and rare earth metals must be monitored.
The report " Global Automotive Electric Drivetrain System Market By Type (All-Wheel Drive, Rear Wheel Drive, and Front Wheel Drive), By Application (Passenger Car, and Commercial Vehicle), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2029’’
Key Highlights:
· In 2019, Cummins Inc. announced the acquisition of Efficient Drivetrains, Inc., a designer and manufacturer of hybrid and battery electric power systems for commercial vehicles, based in the United States. The company aspires to become the global leader in electric powertrains.
Analyst View:
A key driver for the automotive powertrain market is the growing demand for electric and hybrid automobiles. The electric vehicle market has seen significant expansion all around the world. With more than 47 percent of the worldwide market share in 2018, China is the dominant player in the pure electric vehicle market, followed by the United States. Electric car sales are predicted to expand as battery costs fall and technology improve, such as higher storage capacity, which has led to increased customer adoption. Governments and industry throughout the world have vowed to decrease greenhouse gas emissions as global temperatures rise at an alarming rate.
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Key Market Insights from the report:
Global Automotive Electric Drivetrain System Market accounted for US$ 5.86 billion in 2020 and is estimated to be US$ 30.93 billion by 2030 and is anticipated to register a CAGR of 18.3%. The global automotive electric drivetrain system market report segments the market on the basis of type, application, and region.
· Based on Type, Global Automotive Electric Drivetrain System Market is segmented into All-Wheel Drive, Rear Wheel Drive, and Front Wheel Drive.
· Based on Application, Global Automotive Electric Drivetrain System Market is segmented into Passenger Car, and Commercial Vehicle.
· By Region, the Global Automotive Electric Drivetrain System Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Automotive Electric Drivetrain System Market:
The key players operating in the automotive electric drivetrain system market are Aisin Seiki, GKN
Magna International, BorgWarner, Dana Holding, JTEKT Corporation, Magtec, Delphi Automotive, Visedo and Parker Hannifin
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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