The Driveline Market will be driven by increasing sales of EV and HEV, which is, in turn, driven by the need to keep vehicle emissions to the minimum. The global market was valued at USD 16.09 Billion in 2016 and is projected to reach USD 63.32 Billion by 2025, at a CAGR of 16.92% during the forecast period.
The ecosystem of driveline market consists of manufacturers such as ZF (Germany), Schaeffler (Germany), GKN (UK), BorgWarner (US), and Robert Bosch (Germany); OEMs such as Volkswagen (Germany), Ford Motors (US), Toyota Motors (Japan), Mahindra & Mahindra (India); and equipment manufacturer associations such as Automotive Component Manufacturers Association of India (ACMA), Japan Automotive Manufacturers Association (JAMA), and European Automobile Manufacturers’ Association (ACEA).
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Technological advancement in the field of electric and hybrid drivelines such as regenerative braking, automatic start-stop, E-axle, and E-CVT are the major driving forces for the electric and hybrid driveline. The choice of technology varies for a Hybrid Electric Vehicle(HEV), Plug-in Hybrid Electric Vehicle (PHEV), or Battery Electric Vehicle (BEV). Hence, the market is dependent on the sales of hybrid and electric vehicles. The increasing sales of electric and hybrid vehicles are driving the market for electric and hybrid driveline.
The study segments the driveline market for electric and hybrid vehicles by the architecture type. HEV market is projected to have the largest market share owing to its huge acceptance from customers across the globe. The parallel architecture for the hybrid vehicles was estimated to grow at the fastest rate during the forecast period owing to its benefits such as better efficiency and less complexity.
The study segments the driveline market for electric and hybrid vehicles by power electronics. The electric and hybrid vehicle driveline is equipped with both inverters and converter and because of which both the market by volume is expected to grow at the same rate. The power control unit on the other side is a new technology that combines the inverters and converters in a single unit and is expected to grow at the fastest rate during the forecasted period.
In another segment of the study, the E-CVT market is estimated to showcase the largest market volume, which is anticipated to rise due to rapid adoption in the Asian market. In terms of value, DCT is expected to be the fastest-growing segment during the forecast period, the reason being its rapid adoption in luxury and sports cars. Europe is the largest market for DCT. Over the forecast period, the market for the final drive is dominated by differential; while in the near future, E-axle is expected to gain market share at the fastest rate due to its benefit in weight reduction and efficiency improvement of the driveline.
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The performance of a motor is measured by its output, which is known as the traction output. The motor output varies from 12 kW to >250 kW and depends on the vehicle specification. The 45 to 100 kW market is estimated to showcase the largest market volume over the forecast period due to high adoption in the Asian region. In terms of value, the >250 kW segment is expected to be the fastest-growing segment during the forecast period.
Asia Oceania is expected to be the largest and the fastest-growing market. The major reason for the fastest growth is the heavy production and sales of hybrid and electric vehicles in the region. Also, the rising per capita income of the region’s widespread consumer base has created a favorable environment for the growth of the electric and hybrid vehicle market in Asia Oceania. China is one of the leaders in auto component exports.