Pune, India, July 31, 2019 (GLOBE NEWSWIRE) -- Market Analysis:
Market Research Future (MRFR) This information is taken from the latest research report unveiled by Market Research Future (MRFR).
The global automotive electric drivetrain systems market is expected to rise to a valuation of USD 256 billion by 2023, exhibiting a robust CAGR of close to 6% over the forecast period from 2017 to 2023. The increasing demand for electric vehicles from the world’s leading economies is expected to be the major driver for the global automotive electric drivetrain system market over the forecast period.
Competitive Analysis:
Leading players in the global Automotive Electric Drivetrain System Market include AxleTech International SAS, AVTEC Ltd., Punch Powertrain NV, Parker Hannifin Corp., Visedo, Delphi Automotive LLP, Magtec, TM4, JTEKT Corporation, Dana Holding Corporation, BorgWarner Inc., Magna International Inc., GKN plc, American Axle & Manufacturing Inc., and Aisin Seiki Co. Ltd.
In July 2019, Derek Automotive Technologies announced that they have reached the final stage of funding for their Proteus supercharger, a gas to electric supercharger that will recharge electric vehicles using gas instead of mainline grid power.
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Segmentation:
The global automotive electric drivetrain system market is segmented on the basis of type into all-wheel drive, real wheel drive, and front wheel drive. All wheel drive is likely to be the major segment in the global automotive electric drivetrain system market over the forecast period.
By drivetrain type, the global automotive electric drivetrain system market is segmented into battery electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles. Battery electric vehicles are likely to account for the largest share in the market.
By vehicle type, the global automotive electric drivetrain system market is segmented into passenger cars and commercial vehicles.
Regional Analysis:
The global automotive electric drivetrain system market is likely to be dominated by Asia Pacific over the forecast period due to the growing demand for electric vehicles in leading economies in the region such as China, India, Japan, and South Korea. Asia Pacific has emerged as a major player in the global automotive electric drivetrain system market in recent years due to the growing awareness about electric vehicles in the region and the increasing demand from consumers for vehicles that don’t damage the environment and can be run without consuming fossil fuels. Increasing fossil fuel prices in Asia Pacific have also been a key factor in driving the demand from the automotive electric drivetrain system market over the last few years.
Increasing presence of the automotive industry in the region is also likely to emerge as a major driver for the automotive electric drivetrain system market over the forecast period, as key players in the automotive industry are looking to invest in electric vehicles to make the most of the opportunity on offer in the burgeoning regional market.
Europe is the second largest regional market for automotive electric drivetrain systems and is likely to retain the position over the forecast period due to the growing demand for electric vehicles and the increasing government backing being provided for the development of electric vehicles in the region. Apart from being home to a highly environmentally conscious consumer demographic, Europe is also home to several governments that are actively looking into ways to reduce their environmental footprint and promote technologies that offer more eco-friendly solutions. The strong presence of the automotive industry in Europe is also a major driver for the automotive electric drivetrain system market in the region, as this enables easy R&D into electric vehicles as well as easy distribution across large territories.
North America also holds a major share in the global automotive electric drivetrain system market and is likely to remain a key player over the forecast period due to the presence of several leading players in the electric vehicle industry, including Tesla, GM, and Ford, which have emerged as major players in the electric vehicle market. Tesla is among the leading companies in the automotive electric drivetrain system market and is likely to remain highly influential over the forecast period.
Latin America and the Middle East and Africa are not likely to be major players in the global automotive electric drivetrain system market over the forecast period.
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