Dublin, Feb. 07, 2024 (GLOBE NEWSWIRE) -- The "Electric & Hybrid Vehicle Driveline Market - Global Industry Size, Share, Trends Opportunity, and Forecast 2018-2028" report has been added to ResearchAndMarkets.com's offering.
This market study examining the Global Electric & Hybrid Vehicle Driveline Market projects a dynamic growth trajectory for the sector, fueled by escalating demands for greener transportation options and intensified efforts to reduce carbon emissions. The publication offers an in-depth analysis of the evolving trends, market drivers, and the various challenges influencing the market's expansion.
The study reveals that the Electric & Hybrid Vehicle Driveline Market, valued at USD 32 billion in 2022, is forecasted to flourish with an impressive CAGR of 8.6%, suggesting a promising future ahead. The market's accelerated growth is closely linked to stringent environmental regulations, technological advancements in battery and electric motor technologies, and a heightened consumer preference for advanced features and lower operating costs in vehicles.
Amidst these market stimulants, the Asia-Pacific region stands out as an influential market segment, primarily driven by prolific electric vehicle production and sales in countries such as China and Japan. The solid advancement of charging infrastructures and a sustained commitment to sustainable mobility contribute to Asia-Pacific's leading position in the electric and hybrid vehicle industry.
Key Market Drivers and Challenges
Drivers: The Electric & Hybrid Vehicle Driveline Market is garnering impressive momentum from critical factors such as:
- Rising consumer demand for environmentally friendly vehicles with lower emissions.
- Developments in battery technology promoting higher energy efficiency and longer driving ranges.
- Governments across the world are instituting incentives and subsidies to catalyze EV adoption.
- Automakers' strategic emphasis on corporate sustainability and technological competitiveness.
Challenges: Nonetheless, the market encounters formidable hurdles, including:
- High manufacturing costs of advanced driveline components.
- Limited driving range and battery life impacting consumer adoption.
- Infrastructure constraints, given the inadequate development of charging networks.
- Diverse regulations that require meticulous compliance by manufacturers.
Key Market Trends
The shift towards vehicle electrification and sharing mobility services, the rise in demand for lightweight components, increased adoption of electric vehicles in commercial fleets, and surging market opportunities in emerging regions are among the notable trends sustaining market growth.
Segment-wise, the research delves into multiple aspects of the Electric & Hybrid Vehicle Driveline Market, shedding light on various architectures such as series, parallel, and power split. It also categorizes the market into different vehicle types, transmissions, and motor outputs, encompassing a broad spectrum of electric and hybrid vehicles, including Battery Electric Vehicles (BEVs) and Plug-In Hybrid Electric Vehicles (PHEVs).
The analysis presents a regional perspective, highlighting the growth prospects in North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The detailed segmentation and exhaustive exploration offer stakeholders in-depth insights into the market's regional dynamics and growth potential.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 184 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $32 Billion |
| Forecasted Market Value (USD) by 2028 | $52.09 Billion |
| Compound Annual Growth Rate | 8.6% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes:
- Robert Bosch GmbH
- Delphi Technologies
- DENSO Corporation
- Continental AG
- Borg Warner Inc.
- ZF Friedrichshafen AG
- Valeo SA
- Schaeffler AG
For more information about this report visit https://www.researchandmarkets.com/r/hmgrvc
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
