Regionally, the global automotive drivetrain market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033, backed by the presence of a strong automobile network in the region, the rising demand amongst automobile users for E-axle electric vehicle transmission along with the growing sale of electric vehicles. For instance, China marked the highest sale of electric vehicles in 2021 with around 3.3 million units.
The global automotive drivetrain market is further classified on the basis of region as follows:
The global automotive drivetrain market is segmented and analyzed for demand and supply by vehicle type segment into passenger cars, buses, and trucks. Amongst these segments, the truck segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing trucking industry along with the surge in the number of trucks worldwide. For instance, in the United States there were ~15 million trucks in operation in 2021.
Our in-depth analysis of the global automotive drivetrain market includes the following segments:
By Vehicle Type
By Technology Type
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Growing sales of automobiles as well as rising emissions from road transport along with a surge in the demand for luxury cars are some of the major factors anticipated to drive the growth of the market.
Ans: The market is anticipated to attain a CAGR of ~24% over the forecast period, i.e., 2023 – 2033.
Ans: Volatility in material cost along with huge investment requirements are some of the factors estimated to hamper the market growth.
Ans: The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are American Axle & Manufacturing, Inc., BorgWarner Inc., Aisin Corporation, Magna International Inc., ZF Friedrichshafen AG, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by vehicle type, technology type, and by region.
Ans: The truck segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.