Automotive Drivetrain Market Size & Share, by Vehicle Type (Passenger Cars, Buses, Trucks); Technology Type (Central Motor, Wheel Hub Module, E-axle) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

Automotive Drivetrain Market size is poised to reach USD 280 Billion by the end of 2033, growing at a CAGR of 24% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of automotive drivetrain was USD 22 Billion. The growth of the market can primarily be attributed to the growing number of automobiles as well as the rising production of passenger cars worldwide. For instance, it was found that in 2021, over 55 million passenger cars were produced across the globe.

The automotive drivetrain is not a solitary part of any vehicle, it's a group of drivetrain parts that interact with the engine to move the wheels and numerous parts of the vehicle to push it into motion. These components consist of axles, transmission, differential, CV joints, driveshaft, and wheels. The power generated by the engine moves through the drivetrain to the wheels where they bolt to the wheel hub and rotate around the axles. For the wheels to turn and propel the car forward, the vehicle needs to have friction provided by the tires in direct and constant contact with the ground. With the recent advancements in tires as well as drivetrains, the demand for automotive drivetrains is on the rise amongst automotive manufacturers, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global automotive drivetrain market during the forecast period. For instance, a reduction of about 8% can be achieved in fuel consumption with green tires featuring the silica/silane system.