Portland, OR, Sept. 27, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global automotive driveline market generated $257.4 billion in 2021, and is projected to reach $545.8 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Automotive Driveline Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $257.4 billion |
| Market Size in 2031 | $545.8 billion |
| CAGR | 7.7% |
| No. of Pages in Report | 356 |
| Segments Covered | Drive type, vehicle class, propulsion type, application, and region |
| Drivers | Increase in the standard of living |
| Surge in automotive production | |
| Opportunities | Growth in demand and sales of electric vehicles |
| Presence of breakthrough infrastructural developments in EV manufacturing | |
| Restrains | Fluctuating prices of raw material |
| Decreasing vehicle ownership |
COVID-19 Scenario:
- The automotive driveline market experienced a negative impact mainly due to the presence of adverse regulatory mandates as imposed by the governments of various countries across the globe.
- Lockdowns resulted in the half of production and manufacturing facilities, mainly those in the automotive sector as the sector was severely impacted in the global level.
- Considerable drop in automotive sales, reduction in workforce, and lack of raw materials due to the ban on import and export of items further aggravated the impact on the market.
- These restrictions were imposed by the government to curb the spread of the virus during the pandemic. However, government support in recovery incentives has brought hopes to return the sales to normal.
The report offers detailed segmentation of the global automotive driveline market based on drive type, vehicle class, propulsion type, application, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
Based on drive type, the Front Wheel Drive (FWD) segment held the largest market share in 2021, holding half of the global market, and is expected to maintain its leadership status during the forecast period. The All Wheel Drive (AWD) segment, on the other hand, is expected to cite the fastest CAGR of 10.0% during the forecast period.
Based on vehicle class, the mid-priced segment held the largest market share in 2021, holding around half of the global market, and is expected to maintain its leadership status during the forecast period. The luxury segment, on the other hand, is expected to cite the fastest CAGR of 9.3% during the forecast period.
Based on application, the passenger car segment held the largest market share in 2021, holding nearly three-fourths of the global market, and is expected to maintain its leadership status during the forecast period. The light commercial vehicle segment, on the other hand, is expected to cite the fastest CAGR of 9.6% during the forecast period.
Based on region, the market across Asia-Pacific held the largest market share in 2021, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 11.7% during the forecast period.
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The key players analyzed in the global automotive driveline market report include BorgWarner Inc, Continental AG, DENSO Corporation, Ford Motor Company, GKN Automotive Limited, Hitachi Ltd, Mahindra & Mahindra Ltd, Marelli Holdings Co., Ltd, Melrose industries PLC, MSL Driveline Systems Limited, Robert Bosch GmbH, Schaeffler AG, Toyota Motor Corporation, Valeo, Volkswagen AG, Xlerate Driveline India Ltd., and ZF Friedrichshafen AG.
The report analyzes these key players in the global automotive driveline market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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