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Electric Vehicle Drivetrain Market - Forecasts from 2024 to 2029

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    Report

  • 140 Pages
  • October 2024
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 6014336
The electric vehicle drivetrain market is projected to expand from US$54.941 billion in 2024 to US$120.330 billion in 2029 at a CAGR of 16.98%.

The electric vehicle (EV) drivetrain is the system that includes all the parts of an EV that transmit the power from the batteries to the driving wheels, including the electric motors, controllers, batteries, etc. It varies according to the EV system and is essential in connecting the wheels of the vehicle to its primary power source. The growing trend towards electric mobility, accompanied by strategic funding aimed at nurturing it, is the primary factor responsible for the upsurge in demand for drivetrain systems.

Moreover, the increasing technological innovations in EV driving, in addition to government support and incentives for rising EV uptake, have improved the market's growth prospects. This technological penetration is also forecasted due to the anticipated growing economies with high possibilities of EV penetration. Additionally, the design of the EV drivetrain is different from that of the conventional vehicle’s drivetrains in that it is well-balanced to control speed and torque. Therefore, the extensive defaulting technology may be a persistent hindrance to the market.

Electric vehicle drivetrain market drivers

Technological innovations in driving technology have opened a new market segment for its growth.

With advanced and emerging technologies, especially infotainment systems and sensors used more frequently, EVs are a great way to achieve future mobility. Correspondingly, the EV powertrain components and technologies have immense importance because they are converting the energy from an electric motor used for vehicle propulsion. Tesla, BYD Inc., General Motors, Volkswagen, BMW, and Volva are the primary EV manufacturers working to expand their EVs' performance by pouring in new technologies while signing up contracts with electric solutions tier 1 suppliers.

These joint ventures caused the development of a new scheme that facilitates the efficient use of drivetrain components, enhancing demand in the market. Besides, other technologies like the Advanced Driving Assistance System (ADAS) and self-driving car technology are also causing an increase in the need for an efficient drivetrain system. This is because speed and torque management are relevant to the external environment and determine the mobility efficiency of the vehicle.

Electric vehicle drivetrain market geographical outlook

Asia Pacific is anticipated to have a significant share of the electric vehicle drivetrain market.

The electric vehicle drivetrains market is segmented by geography into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The APAC market is expected to witness high growth prospects and the highest market share. Some of the major economies in this region, such as China, lead to a greater share of EV growth globally. As reported in the ‘Global EV Outlook 2024’, China registered the highest number of new EVs with about 60% share, an equivalent of 8.1 million units in 2023.

Further, the same source also indicated that the rapid growth of the country’s automotive industry has been mainly because of the increasing consumer demand for EVs. Thus, the positive investment environment enhances EV manufacturing and usage, in addition to the existing presence of the major EV players such as BYD INC. And Xpeng Inc. is also propelling the regional market growth.

Other countries like India and Japan are expected to witness a significant rise in growth due to the aggressive strategies employed by EV manufacturers in enhancing their EV fleet and driving systems. In the forecast period, APAC is expected to have a considerable share owing to the mentioned factors as well as government-supportive policies and initiatives resulting in regional market expansion.

Reasons for buying this report::

  • Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub- segments.
  • Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
  • Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape up future market developments.
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Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence

Report Coverage:

  • Historical data & forecasts from 2022 to 2029
  • Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
  • Competitive Positioning, Strategies, and Market Share Analysis
  • Revenue Growth and Forecast Assessment of segments and regions including countries
  • Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

The Electric Vehicle Drivetrain Market is analyzed into the following segments:

By Component

  • Battery
  • Controller
  • Transmission
  • Electric Motor

By Type

  • Front-wheel drive (FWD)
  • Rear-Wheel Drive (RWD)
  • All-Wheel Drive (AWD)
  • Four-Wheel Drive (4WD)

By Vehicle

  • PHEV
  • BEV
  • FCEV
  • HEV

By Geography

  • North America
  • USA
  • Canada
  • Mexico
  • South America
  • Brazil
  • Argentina
  • Others
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Others
  • Middle East and Africa
  • Saudi Arabia
  • Israel
  • Others
  • Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Indonesia
  • Thailand
  • Others

Table of Contents

1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base and Forecast Years Timeline
1.8. Key benefits for the stakeholders
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Process
3. EXECUTIVE SUMMARY
3.1. Key Findings
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
4.5. Analyst View
5. ELECTRIC VEHICLE DRIVETRAIN MARKET BY COMPONENT
5.1. Introduction
5.2. Battery
5.3. Controller
5.4. Transmission
5.5. Electric Motor
6. ELECTRIC VEHICLE DRIVETRAIN MARKET BY TYPE
6.1. Introduction
6.2. Front-Wheel Drive (FWD)
6.3. Rear-Wheel Drive (RWD)
6.4. All-Wheel Drive (AWD)
6.5. Four-Wheel Drive (4WD)
7. ELECTRIC VEHICLE DRIVETRAIN MARKET BY VEHICLE
7.1. Introduction
7.2. PHEV
7.3. BEV
7.4. FCEV
7.5. HEV
8. ELECTRIC VEHICLE DRIVETRAIN MARKET BY GEOGRAPHY
8.1. Introduction
8.1. North America
8.1.1. By Component
8.1.2. By Type
8.1.3. By Vehicle
8.1.4. By Country
8.1.4.1. USA
8.1.4.2. Canada
8.1.4.3. Mexico
8.2. South America
8.2.1. By Component
8.2.2. By Type
8.2.3. By Vehicle
8.2.4. By Country
8.2.4.1. Brazil
8.2.4.2. Argentina
8.2.4.3. Others
8.3. Europe
8.3.1. By Component
8.3.2. By Type
8.3.3. By Vehicle
8.3.4. By Country
8.3.4.1. UK
8.3.4.2. Germany
8.3.4.3. France
8.3.4.4. Italy
8.3.4.5. Others
8.4. Middle East and Africa
8.4.1. By Component
8.4.2. By Type
8.4.3. By Vehicle
8.4.4. By Country
8.4.4.1. Saudi Arabia
8.4.4.2. Israel
8.4.4.3. Others
8.5. Asia Pacific
8.5.1. By Component
8.5.2. By Type
8.5.3. By Vehicle
8.5.4. By Country
8.5.4.1. Japan
8.5.4.2. China
8.5.4.3. India
8.5.4.4. South Korea
8.5.4.5. Indonesia
8.5.4.6. Thailand
8.5.4.7. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Market Share Analysis
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Competitive Dashboard
10. COMPANY PROFILES
10.1. AISIN CORPORATION
10.2. DENSO CORPORATION
10.3. Hexagon AB
10.4. ZF Friedrichshafen AG
10.5. Magna International Inc.
10.6. Valeo
10.7. BorgWarner Inc.
10.8. MITSUBISHI MOTORS CORPORATION
10.9. Hitachi Astemo, Ltd.
10.10. Schaeffler AG

Companies Mentioned

  • AISIN CORPORATION
  • DENSO CORPORATION
  • Hexagon AB
  • ZF Friedrichshafen AG
  • Magna International Inc.
  • Valeo
  • BorgWarner Inc.
  • MITSUBISHI MOTORS CORPORATION
  • Hitachi Astemo, Ltd.
  • Schaeffler AG

Methodology

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Table Information