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The market for driveline systems for electric vehicles, which includes front wheel drive (FWD) and all-wheel drive (AWD), is expected to register a CAGR of over 10% during 2018-2023 (the forecast period). This growth is attributable to the favorable government policies, increasing incentives, declining lifetime cost of ownership, and falling battery prices.
On the other hand, a major factor hindering the market growth is the higher cost of electric and hybrid driveline when compared to the conventional driveline.
E-axle Technology is Expected to Grow at the Fastest Pace
E-axles and differentials are used in a driveline as the end components, to transmit the motor power to wheels. E-axle reduces the weight and improves the efficiency of electric vehicles. Although the market for e-axle is at a nascent stage, it is expected to gain the highest traction during the forecast period, as e-axles offer numerous advantages over other types. However, the high production cost associated with e-axle can add a lot to the final price of the vehicle, which may become a huge challenge for car manufacturers.
Growing Demand for Electric Vehicles is expected to drive the Driveline Systems Market
The electric vehicles market has witnessed a healthy growth in the recent years, in terms of the number of vehicles sold, which was 890,470 in 2012 and reached ~ 2,447,807 in 2016. This spike in sales is attributable to the regulatory norms imposed by various organizations and governments to control emission levels and propagate zero-emission vehicles.
Automakers are planning to increase their R&D expenditure of electric vehicles, due to a consistent demand pattern for conventional IC engine vehicles. Therefore, the electric vehicle manufacturers are focusing on raising awareness among customers about electric vehicles, through their continuous marketing strategies aiming to meet the standards set by the governments and other associations.
However, consumers still prefer IC engine vehicles, due to the limited or no availability of charging stations and high cost associated with electric vehicles. However, with the growing environmental concerns and increasing pollution, along with the rising awareness regarding electric vehicles (through EV manufacturers marketing strategies), the future of the electric vehicles looks promising in the coming years.
The market study on driveline systems for electric vehicles is segmented by type of architecture (series, parallel, and power split), transmission type (automatic transmission, dual-clutch transmission, and electric-continuously variable transmission), motor type (45-100 kW, 101-250 kW, and >250 kW), drive type (forward wheel drive, rear wheel drive, and all-wheel drive), and vehicle type (hybrid vehicles, plug-in hybrid vehicles, and battery electric vehicles). This study covers all the major countries of North America, Europe, Asia-Pacific, and Rest of the World (which includes South America and the Middle East & Africa).
Key Developments:
• April 2018: American Axle & Manufacturing (AAM) and Liuzhou Wuling Automobile Industry Co. Ltd, a subsidiary of Guangxi Automobile Group Co., Ltd, entered a joint venture to manufacture driveline systems.
Major Players: ROBERT BOSCH, GKN DRIVELINE, DENSO CORPORATION, AND DELPHI TECHNOLOGIES, amongst others.
Reasons to Purchase this Report:
• The current and future market outlook in the developed and emerging markets
• Various perspectives of the market, with the help of Porter’s five forces analysis
• Segment that is expected to dominate the market
• Regions that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
Report Customization and Benefits:
This report can be customized to meet your desired requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs
On the other hand, a major factor hindering the market growth is the higher cost of electric and hybrid driveline when compared to the conventional driveline.
E-axle Technology is Expected to Grow at the Fastest Pace
E-axles and differentials are used in a driveline as the end components, to transmit the motor power to wheels. E-axle reduces the weight and improves the efficiency of electric vehicles. Although the market for e-axle is at a nascent stage, it is expected to gain the highest traction during the forecast period, as e-axles offer numerous advantages over other types. However, the high production cost associated with e-axle can add a lot to the final price of the vehicle, which may become a huge challenge for car manufacturers.
Growing Demand for Electric Vehicles is expected to drive the Driveline Systems Market
The electric vehicles market has witnessed a healthy growth in the recent years, in terms of the number of vehicles sold, which was 890,470 in 2012 and reached ~ 2,447,807 in 2016. This spike in sales is attributable to the regulatory norms imposed by various organizations and governments to control emission levels and propagate zero-emission vehicles.
Automakers are planning to increase their R&D expenditure of electric vehicles, due to a consistent demand pattern for conventional IC engine vehicles. Therefore, the electric vehicle manufacturers are focusing on raising awareness among customers about electric vehicles, through their continuous marketing strategies aiming to meet the standards set by the governments and other associations.
However, consumers still prefer IC engine vehicles, due to the limited or no availability of charging stations and high cost associated with electric vehicles. However, with the growing environmental concerns and increasing pollution, along with the rising awareness regarding electric vehicles (through EV manufacturers marketing strategies), the future of the electric vehicles looks promising in the coming years.
The market study on driveline systems for electric vehicles is segmented by type of architecture (series, parallel, and power split), transmission type (automatic transmission, dual-clutch transmission, and electric-continuously variable transmission), motor type (45-100 kW, 101-250 kW, and >250 kW), drive type (forward wheel drive, rear wheel drive, and all-wheel drive), and vehicle type (hybrid vehicles, plug-in hybrid vehicles, and battery electric vehicles). This study covers all the major countries of North America, Europe, Asia-Pacific, and Rest of the World (which includes South America and the Middle East & Africa).
Key Developments:
• April 2018: American Axle & Manufacturing (AAM) and Liuzhou Wuling Automobile Industry Co. Ltd, a subsidiary of Guangxi Automobile Group Co., Ltd, entered a joint venture to manufacture driveline systems.
Major Players: ROBERT BOSCH, GKN DRIVELINE, DENSO CORPORATION, AND DELPHI TECHNOLOGIES, amongst others.
Reasons to Purchase this Report:
• The current and future market outlook in the developed and emerging markets
• Various perspectives of the market, with the help of Porter’s five forces analysis
• Segment that is expected to dominate the market
• Regions that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
Report Customization and Benefits:
This report can be customized to meet your desired requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
