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DUBLIN--(BUSINESS WIRE)--Nov 8, 2022--
The "Automotive Drivetrain Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global automotive drivetrain market size reached US$ 187.2 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 272.4 Billion by 2027, exhibiting a CAGR of 6.45% during 2021-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
An automotive drivetrain refers to an assembly of multiple components that transmit power or torque to the driving wheel of the vehicle. It consists of a driveshaft, transmission or gearbox, universal (U) joints, constant velocity (CV) joints, wheels and axles. The draft shaft is an extended tubular steel component, which is linked to the gearbox of the vehicle and aids in the rotary movement of the wheels.
The joints transmit power to the wheels and facilitate their movement in varying angles and the axles transfer power from the final drive assembly to the wheels. As a result, the drivetrain is a crucial component in manual transmission, automatic transmission, front-wheel drive and four-wheel drive cars and off-lead vehicles.
The growing automotive industry across the globe represents one of the key factors driving the market growth. Furthermore, the increasing adoption of hybrid and electric vehicles (H/EVs) is also augmenting the market growth. Automobile manufacturers are widely integrating high-quality drivetrains in the vehicles to provide enhanced comfort and safety to the passengers.
The drivetrains are also used for varying the amount of torque delivered to the engine, thereby providing increased acceleration, traction and towing capabilities. In line with this, the rising demand for lightweight driveshafts for enhanced fuel efficiencies, is also contributing to the market growth.
Various technological innovations, such as the development of all-wheel drive (AWD) for passenger cars and sports-utility vehicles (SUVs), are acting as other growth-inducing factors. Moreover, rising expenditure capacities of consumers, especially in the developing economies, along with the electrification of drivetrain components, are anticipated to drive the market further.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global automotive drivetrain market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on vehicle type and drive type.
Breakup by Vehicle Type:
Breakup by Drive Type:
Breakup by Region:
Key Questions Answered in This Report:
For more information about this report visit https://www.researchandmarkets.com/r/w24avv
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KEYWORD:
INDUSTRY KEYWORD: AUTOMOTIVE OTHER AUTOMOTIVE
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/08/2022 07:45 AM/DISC: 11/08/2022 07:46 AM
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