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Electric Vehicle Drivetrain Market - Forecasts from 2024 to 2029

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    Report

  • 140 Pages
  • September 2024
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 6014336
The electric vehicle drivetrain market is expected to grow from US$54.941 billion in 2024 to US$120.330 billion in 2029 at 16.98% (CAGR).

An electric vehicle (EV) drivetrain comprises components including electric motors, controllers, and batteries that transmit power to the driving wheels. The system varies depending on the type of electric vehicle and plays an integral role in establishing a link between the primary power source of the vehicle and the wheels. The ongoing transition towards electric mobility, followed by strategic investment to bolster it, is majorly driving the demand for drivetrain systems.

Furthermore, the ongoing technological innovations in electric vehicle driving backed by government support and subsidies to bolster EV adoption have furthered the market growth prospects. Major economies with high potential for EV adoption are expected to witness significant growth in such technology. However, the architecture of the drivetrain used in electric vehicles differs from the ones in traditional vehicles as it requires precise structuring to manage speed and torque. Hence, such customized build-up can act as a major obstacle to the market growth.

Electric Vehicle Drivetrain Market Drivers:

  • The growing electric vehicle transition has accelerated the market expansion.
Growing carbon emissions have become a major factor in increasing air pollution and global warming. To minimize such events, various efforts are being taken, including shifting from conventional internal combustion engines to sustainable fuel, which has bolstered the demand for electric vehicles. Hence, major economies, namely China, the United States, and the European Union, are experiencing significant growth in such transition.
According to the International Energy Agency, in 2023, nearly 14 million electric vehicles were registered globally, bringing the total on-road volume to 40 million. Moreover, EV sales in the same year were 3.5 million higher than the preceding year, thereby showing 35% year-over-year growth. Additionally, the same source specified that the percentage share of electric cars in overall vehicle sales globally increased from 14% in 2022 to 18%, showcasing significant growth in EV adoption.

Electric Vehicle Drivetrain Market Geographical Outlook:

  • Asia Pacific is expected to account for a significant market share during the given time frame.
By geography, the electric drivetrain market is divided into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The market in the APAC region is poised for a significant expansion and will account for a considerable market share. Major APAC economies, namely China, account for a major portion of the global adoption of electric vehicles. For instance, as per the “Global EV Outlook 2024”, China accounted for 60% of new electric vehicle registrations in 2023, reaching 8.1 million units.
The same source also stated the booming automotive sector in the economy is mainly attributed to the growing electric vehicle sales in the country. Hence, favorable investment to bolster EV production & adoption, followed by the well-established presence of major EV companies, namely BYD INC. and Xpeng Inc., are acting as additional driving factors for the regional market growth.

North America and Europe are anticipated to show remarkable growth fueled by the favorable efforts of the EV manufacturers to bolster their EV fleets and improve their driving technology. These major players are namely Tesla, Volvo, BMW, and Stellantis N.V. The South American and MEA regions will account for a minimal market share during the period.

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.
  • Actionable Recommendations: Utilize the insights to exercise strategic decision to uncover new business streams and revenues in a dynamic environment.
  • Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.

What do businesses use our reports for?

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 segmented and analyzed as given below:

  • By Component
    • Battery
    • Controller
    • Transmission
    • Electric Motor
  • By Type
    • Fron-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
3.2. Analyst View
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Supplier
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
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
8.2. North America
8.2.1. USA
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. UK
8.4.2. Germany
8.4.3. France
8.4.4. Italy
8.4.5. Others
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. Israel
8.5.3. Others
8.6. Asia Pacific
8.6.1. Japan
8.6.2. China
8.6.3. India
8.6.4. South Korea
8.6.5. Indonesia
8.6.6. Thailand
8.6.7. 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

Some of the key companies profiled in this Electric Vehicle Drivetrain Market report include:
  • 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