Increased demand for electric and hybrid vehicles, R&D to improve electric vehicle efficiency, and tighter government regulations on fuel emissions are all projected to drive the product market.
Covid-19 Impact & Market Status
COVID-19 has had an impact on the world economy in a number of nations, since lockdowns have resulted in travel bans and company closures, hurting the global electric and hybrid vehicle driveline market's supply chain. Furthermore, organizations are suffering production disruptions as a result of lockdowns and social distancing conventions. Furthermore, the manufacturing process was further slowed by the lack of manpower and raw materials essential for production. The electric vehicle market has benefited from COVID-19 since sales of electric vehicles have surged. As a result, the global electric and hybrid vehicle driveline market is predicted to develop following the pandemic, owing to an increase in the sale of electric vehicles.
The global Electric and Hybrid Vehicles Driveline market is expected to develop US$ 1,362.3 Bn by 2032, at a compound annual increase in price (CAGR) of 21.6 % throughout the forecast period.
The Parallel Architecture Segment is anticipated for the Significant Growth in the Predicted Timeframe
Due to strong adoption in the Asian region, the 45 to 100 kW market is expected to have the greatest market volume throughout the projection period. During the projection period, the >250 kW category is predicted to increase at the quickest rate in terms of value.
The E-CVT Segment will Hold Majority of the Market Revenue in the Coming Future
The highest market volume is expected to be in the E-CVT industry, which is expected to grow due to rapid adoption in the Asian market. Because of its quick acceptance in luxury and sports automobiles, DCT is predicted to be the fastest-growing sector in terms of value throughout the projection period. The main market for DCT is Europe. The differential is likely to dominate the final drive market during the projection period, while E-axle is expected to acquire market share at the quickest pace due to its benefits in weight reduction and driveline efficiency improvement.
The Hybrid Vehicles Segment will Hold Majority of the Market Revenue in the Coming Future
Owing to the hybrid vehicles being equipped with both inverters and converters; the market for both is likely to increase at the same rate. On the other hand, the power control unit is a novel technology that integrates inverters and converters into a single device, and it is predicted to increase at the quickest pace throughout the forecasted period.
The >250 kW Segment will Hold Majority of the Market Revenue in the Coming Future
Due to strong adoption in the Asian area, the 45 to 100 kW market is expected to have the greatest market volume throughout the projection period. During the projection period, the >250 kW segment is predicted to increase at the quickest rate in terms of value.
APAC Market is projected to be a Maximum Growth Rate in the Future
Asia Pacific region is likely to be the largest and fastest-growing region. The fastest increase is due to the region's substantial manufacturing and sales of hybrid and electric automobiles. In addition, the growing per capita income of the region's large customer base has provided a favourable climate for the expansion of Asia Pacific’s electric and hybrid vehicles industry. China is one of the world's top exporters of vehicles parts.
A surge in government subsidies on the acquisition of electric or hybrid vehicles, as well as an increase in demand for automatic driveline systems, is opportune for industry expansion.
A vehicle's driveline is basically transferred power from the motor or engine to the vehicle’s wheels. Hybrid vehicles feature various power sources, including a battery-powered electric motor and an ICE (internal combustion engine). The vehicles' batteries are charged using regenerative braking and ICE.
Parallel hybrids are cars in which the electric motor and gasoline engine are joined in a common gearbox by a one-way clutch, allowing one to rotate freely while the other generates power. Parallel hybrids employ a smaller battery pack. In addition, in a series hybrid, the engine is only utilized to replenish the battery when necessary, while the motor powers the wheel. Finally, with a plug-in hybrid, a bigger battery pack is utilized that can be charged externally, and the vehicle changes to parallel hybrid mode when the charge is low.
As the demand for alternative fuel cars has grown, so has the desire for battery-powered and hybrid vehicles. As a consequence of all of the new advances in electric and hybrid cars, the worldwide electric and hybrid vehicle driveline market is expected to grow. However, the dearth of electric vehicle charging infrastructure and the expensive cost of hybrid and electric vehicles stifle market expansion.
Concerns over worsening air quality have led major nations' governments to set their own emission targets and provide different subsidies to encourage the use of electric and hybrid vehicles. In addition, public-private partnerships, emission regulations, incentives, and improved charging infrastructure have all been used to boost the sale of electric and hybrid vehicles. As a result, the increased government participation in promoting electric and hybrid vehicles might provide an opportunity for the global electric and hybrid vehicle driveline market to flourish.
Key companies in the market include BorgWarner, Inc., Delphi Technologies, Continental AG, GKN PLC, Denso Corporation, Hitachi Ltd., Robert Bosch GmbH, Schaeffler AG, ZF Friedrichshafen AG, and Valeo SA. Market players have been described using financial overviews, business strategies, corporate descriptions, and current events.
Recent Innovations in the Global Electric and Hybrid Vehicles Driveline Market: a Snapshot
- In 2020, GKN Automotive Company integrated with Delta Electronics Inc., a top provider of thermal and power management services. The two firms are working together to build next-generation integrated 3-in-1 eDrive systems with power ratings ranging from 80kW to 155kW.
- In November 2021, Gulf Oil International, a Hinduja Group firm, revealed a line of e-fluids in India for electric and hybrid vehicles. These goods were introduced in international markets earlier this year.
The purpose of this market research study is to give comprehensive data on the global market for electric and hybrid vehicle drivelines. The research decodes complicated data to disclose the current and historical positions of the industry, as well as potential market trends and growth. The research looks at market leaders, investors, customers, and new entrants in a range of industries.
Electric and Hybrid Vehicles Driveline Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | USD 1,362.3 billion |
| Growth Rate | CAGR of 21.6 % during 2022-2032 |
| Segment Covered | Type, Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Tilley Inflatable Design & Engineering LTD, Ford Motor Company, General Motors Company, Honda Motor Co., Ltd., Daimler AG, Volkswagen AG, Renault SAS, Toyota Motor Corporation, Nissan Motor Corporation, Mitsubishi Motor Corporation, Hyundai Motor Company, Bayerische Motoren Werke AG (BMW) |
Key Segments of the Global Electric and Hybrid Vehicles Driveline Market
Architecture Overview, (USD Billion)
- Parallel
- Series
- Power split
Transmission Overview, (USD Billion)
- Dual Clutch Transmission (DCT)
- Automatic Transmission (AT)
- Electronic Continuously Variable Transmission (E-CVT)
Motor Output Overview, (USD Billion)
- 45-100 kW
- 101-250 kW
- >250kW
Vehicle Type Overview, (USD Billion)
- Plug-In Electric Hybrid
- Hybrid Vehicles
- Battery Electric Vehicle
Regional Overview, (USD Billion)
North America
- U.S
- Canada
Europe
- Germany
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
South America
- Mexico
- Brazil
- Rest of South America
The Middle East and South Africa
Frequently Asked Questions (FAQ) :
The global electric and hybrid vehicles driveline market is projected to reach USD 1,362.3 billion by 2032, registering a CAGR of 21.6 % from 2022 to 2032.
The global electric and hybrid vehicles driveline market is expected to grow at a CAGR of 21.6 % from 2022 to 2032.
By Vehicle Type, hybrid vehicles segment is expected to gain traction over the forecast period in global electric and hybrid vehicles driveline market.
Asia Pacific region is likely to be the largest and fastest-growing region.
The major market players include Tilley Inflatable Design & Engineering LTD, Ford Motor Company, General Motors Company, Honda Motor Co., Ltd., Daimler AG, Volkswagen AG, Renault SAS, Toyota Motor Corporation, Nissan Motor Corporation, Mitsubishi Motor Corporation, Hyundai Motor Company, Bayerische Motoren Werke AG (BMW)