The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Automotive Drivetrain Global Market Report 2024, the automotive drivetrain market is expected to show significant growth in the forecast period.

Current Market Trends and Growth Figures

• The automotive drivetrain market has exhibited robust growth recently.
• Market size surged from $221.58 billion in 2023 to $239.16 billion in 2024.
• Compound Annual Growth Rate (CAGR) stands at 7.9%.
• Historic growth attributed to early automobile development, industrialization, and transmission technology evolution.

Forecasts and Future Expectations

• Strong growth anticipated in the automotive drivetrain market, reaching $324.38 billion by 2028.
• Expected CAGR of 7.9%.
• Forecasted growth driven by electrification, advanced sensors, lightweight materials, autonomous vehicles, and fuel efficiency.
• Major trends in the forecast period include hybrid/electric drivetrains, intelligent systems, modular designs, predictive maintenance, and AWD systems for performance vehicles.

Driving Factors Behind Market Growth

Increasing Adoption of Electric Vehicles

• Surge in electric vehicle adoption expected to drive automotive drivetrain market.
• Electric drivetrains with single-speed transmissions gaining popularity.
• Approximately 4.3 million new battery-powered electric vehicles sold globally in the first half of 2022.
• Significant increase in BEV and PHEV sales reported, spurring demand for automotive drivetrains.

Technological Innovation in Automotive Drivetrain Market

• Technological innovation emerges as a key trend in the automotive drivetrain sector.
• Companies focusing on innovative solutions to strengthen market position.
• Introduction of Dynamic Controllable Clutch (DCC) technology by Amsted Automotive enhances AWD and 4WD systems.
• Cummins’ acquisition of Meritor positions the company as a leading provider of integrated powertrain solutions.

Market Segmentation

• Drive Type: Front-Wheel Drive, Rear-Wheel Drive, All-Wheel Drive
• Vehicle Type: Passenger Cars, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV), Electric Vehicle
• Transmission: Manual Transmission, Automatic Transmission, Continuous Variable Transmission, Automated Manual Transmission, Dual-Clutch Transmission
• Technology: Central Motor, E-Axle, Wheel Hub Module

Regional Dynamics

Asia-Pacific Dominance and Growth

• Asia-Pacific emerged as the largest region in the automotive drivetrain market in 2023.
• The region is forecasted to be the fastest-growing, underlining its pivotal role in the global automotive industry.

View More On The Automotive Drivetrain Market Report 2024 –
https://www.thebusinessresearchcompany.com/report/automotive-drivetrain-global-market-report

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The Automotive Drivetrain Global Market Report 2024  provides an in-depth analysis on the automotive drivetrain market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the automotive drivetrain market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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