According to TechSci Research report, “Global Driveline Market for Electric & Hybrid Vehicle - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Driveline Market for Electric & Hybrid Vehicle stood at USD 32 Billion in 2022 and is anticipated to grow with a CAGR of 8.6% in the forecast period, 2024-2028.
The Global Driveline Market for Electric & Hybrid Vehicles is experiencing significant growth due to several key factors. Firstly, the growing concern about environmental pollution has prompted governments worldwide to impose stringent emission norms. This has not only created a demand for cleaner and more sustainable transportation options but has also fueled the adoption of electric and hybrid drivetrain systems.
Moreover, there have been remarkable technological advancements in the field of electric and hybrid vehicles. These advancements have resulted in improved performance, efficiency, and a range of electric and hybrid driveline systems. As a result, there is a growing public awareness and acceptance of such vehicles, further boosting market growth.
Furthermore, the surge in fuel prices has made consumers more inclined towards electric and hybrid vehicles as a cost-effective alternative. Additionally, the parallel decrease in the cost of electric vehicle components has made these vehicles more affordable and accessible to a broader consumer base. This has not only expanded the market but has also accelerated the transition towards sustainable transportation solutions.
In summary, the combination of increasing environmental concerns, significant technological advancements, growing public acceptance, and economic factors has contributed to the expansion of the Global Driveline Market for Electric & Hybrid Vehicles. These factors, together with ongoing research and development efforts, are expected to further propel the growth of this market in the foreseeable future.
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In recent years, the global driveline market for electric and hybrid vehicles has witnessed a remarkable transformation within the automotive industry landscape. With growing environmental concerns and increasingly stringent regulations, the demand for electric and hybrid vehicles has soared, leading to a substantial surge in the driveline market. This surge is primarily driven by consumers' escalating preference for eco-friendly transportation options, compelling automakers to heavily invest in advanced electrified driveline technologies.
As the world embraces a more sustainable future, the driveline market continues to evolve with innovative solutions. Automakers are focusing on developing cutting-edge driveline systems that offer improved efficiency, enhanced performance, and extended range. These advancements not only address the pressing environmental challenges but also provide consumers with an elevated driving experience.
Moreover, the electrification of drivelines is not limited to passenger vehicles alone. Commercial vehicles, including buses and trucks, are also experiencing a gradual transition toward electric and hybrid drivetrain systems. This shift is driven by the benefits of reduced emissions, lower operating costs, and quieter operation, making electric and hybrid drivelines an attractive choice for fleet operators and logistics companies.
In summary, the driveline market for electric and hybrid vehicles is undergoing a profound shift, driven by environmental concerns, regulatory measures, and the growing preference for eco-friendly transportation. This shift is leading to significant advancements in electrified driveline technologies, offering improved efficiency, performance, and range. With the continued investment and innovation in this sector, the future of electric and hybrid vehicles looks promising, paving the way for a greener and more sustainable automotive industry.
The market's expansion is also spurred by a confluence of factors, including stringent emissions regulations enacted by governments worldwide and various incentives designed to encourage the adoption of electric and hybrid vehicles. Additionally, ongoing advancements in battery technology and electric motor systems have contributed to the market's development, facilitating extended driving ranges and enhanced energy efficiency.
The key market segments within the driveline market for electric and hybrid vehicles are characterized by distinct powertrain configurations. Battery Electric Vehicles (BEVs), which exclusively rely on electric power for propulsion, have gained prominence as consumers seek zero-emission driving solutions. Meanwhile, Hybrid Electric Vehicles (HEVs), which combine internal combustion engines with electric drivelines, represent a transitional technology that enhances fuel efficiency and reduces emissions.
Plug-in hybrid Electric Vehicles (PHEVs) have emerged as a popular choice, featuring the ability to recharge from external power sources and providing extended electric-only driving ranges compared to traditional HEVs. These segments collectively shape the market's diverse landscape, offering consumers a range of electrified options to meet their specific needs and preferences.
As the electrification trend continues to gain momentum, the global driveline market for electric and hybrid vehicles is poised for further expansion. This dynamic landscape reflects the industry's commitment to sustainability and the growing demand for environmentally responsible mobility solutions, heralding a transformative era in the automotive sector.
With advancements in battery technology, the range and performance of electric vehicles are improving, making them increasingly attractive to consumers.
Additionally, governments around the world are implementing policies and incentives to support the adoption of electric and hybrid vehicles, further driving the market growth.
Furthermore, automotive manufacturers are investing heavily in research and development to enhance the efficiency and reliability of driveline systems, optimizing power delivery and ensuring a seamless transition between electric and hybrid modes. This continuous innovation is not only improving the driving experience but also contributing to reducing emissions and minimizing the carbon footprint of vehicles.
In conclusion, the electrification of drivelines is not just a trend but a necessary step towards a more sustainable and eco-friendly future. The global driveline market for electric and hybrid vehicles is anticipated to witness significant growth, driven by technological advancements, supportive government policies, and the increasing environmental consciousness of consumers. The automotive sector is entering an exciting era of transformation, where clean and efficient mobility solutions are set to revolutionize the way we drive and interact with our vehicles.
Major companies operating in the Global Driveline Market for Electric & Hybrid Vehicle are:
- Robert Bosch GmbH
- Delphi Technologies
- DENSO Corporation
- Continental AG
- Borg Warner Inc.
- ZF Friedrichshafen AG
- Valeo SA
- Schaeffler AG
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“The major drivers for the Global Driveline Market for Electric & Hybrid Vehicle include increasing concerns about environmental pollution and the consequent stringent emission norms imposed by governments worldwide. Additionally, technological advancements in electric and hybrid drivetrain systems, coupled with the growing public awareness and acceptance of such vehicles, are bolstering market growth. The surge in fuel prices and the parallel decrease in the cost of electric vehicle components also significantly contribute to the market expansion.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Driveline Market for Electric & Hybrid Vehicle – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Architecture (Series, Parallel, Power split), By Transmission (Automatic Transmission (AT), Dual Clutch Transmission (DCT), Electronic Continuously Variable Transmission (E-CVT)), By Motor Output (45-100 kW, 101-250 kW, and250kW), By Vehicle Type (Hybrid Vehicles, Plug-In Electric Hybrid, Battery Electric Vehicle), By Region, Competition”, has evaluated the future growth potential of Global Driveline Market for Electric & Hybrid Vehicle 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 the Global Driveline Market for Electric & Hybrid Vehicle.
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Table of Content-Driveline Market
- Introduction
1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
- Impact of COVID-19 on Global Driveline Market for Electric & Hybrid Vehicle Market
- Voice of Customer Analysis
5.1. Brand Awareness
5.2. Brand Satisfaction
5.3. Factors Affecting Purchase Decision
- Global Driveline Market for Electric & Hybrid Vehicle Market Outlook
6.1. Market Size & Forecast
6.1.1. By Volume & Value
6.2. Market Share & Forecast
6.2.1. By Architecture Market Share Analysis (Series, Parallel, Power split)
6.2.2. By Transmission Market Share Analysis (Automatic Transmission (AT), Dual Clutch Transmission (DCT), Electronic Continuously Variable Transmission (E-CVT))
6.2.3. By Motor Output Market Share Analysis (45-100 kW, 101-250 kW, and250kW)
6.2.4. By Vehicle Type Market Share Analysis (Hybrid Vehicles, Plug-In Electric Hybrid, Battery Electric Vehicle)
6.2.5. By Regional Market Share Analysis
6.2.5.1. Asia-Pacific Market Share Analysis
6.2.5.2. Europe & CIS Market Share Analysis
6.2.5.3. North America Market Share Analysis
6.2.5.4. South America Market Share Analysis
6.2.5.5. Middle East & Africa Market Share Analysis
6.2.6. By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)
6.3. Global Driveline Market for Electric & Hybrid Vehicle Market Mapping & Opportunity Assessment
6.3.1. By Architecture Market Mapping & Opportunity Assessment
6.3.2. By Vehicle Type Market Mapping & Opportunity Assessment
6.3.3. By Transmission Market Mapping & Opportunity Assessment
6.3.4. By Motor Output Market Mapping & Opportunity Assessment
6.3.5. By Regional Market Mapping & Opportunity Assessment