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Automotive Drivetrain Market

Global Automotive Drivetrain Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle), by Drive-Type (Front Wheel Drive (FWD), Rear Wheel Drive (RWD), All-Wheel Drive (AWD)), by Electric Vehicle Type (Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, Hybrid Electric Vehicle)

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Market Overview

The automotive drivetrain is a system that act as medium to connect the transmission to the drive axles. The drivetrain includes transmission, driveshaft, axles, and wheels.  Engine is not a part of drivetrain although the function of the drivetrain is to combined the engine and driving wheels so as to provide power to vehicle. The global automotive drivetrain market is segmented in three parts based on the drive type: Front Wheel Drive (FWD), Rear Wheel Drive (RWD) and All-Wheel Drive (AWD).

In FWD, the engine drives only the front wheels of a car. Most of the small and mid-size car makers offer front wheel drive as it is low-priced and easy to design and meet majority of customer requirement. The cars with FWD are generally light-weight as it does not involve a transmission and axle shaft, which increase the weight of the vehicle. The vehicles equipped with FWD has better fuel efficiency compared to RWD and AWD. One of the disadvantages of FWD vehicle is that it has low weight bearing capacity and poor towing capacity.   

A RWD vehicle has engine in front and is connected to a transmission. The power passes through a driveshaft to the rear-axle gears followed by rear wheels. RWD equipped vehicles have better weight balance along with better acceleration and better road holding capacity. RWD offers better acceleration and is widely used in racing cars and heavy trucks.

The AWD has a front, rear and center differential that equally distribute power to all four wheels of a vehicle. The powertrain is capable of providing power to all its wheels, depending on the requirement of the driver. The AWD vehicles are generally heavy and improve an extra transmission and axle, which leads to decrease in the fuel efficiency and increase in maintenance cost. AWD systems plays an important role in extreme weather conditions. It is commonly used for sports utility vehicles (SUVs), and minivans. Most of the SUV manufacturer provide both the options of FWD and AWD depending on the customer preference. Most of the luxury vehicles are coming with AWD options for better acceleration and high resale value.   

Market Dynamics

The global automotive drivetrain market is expected to witness a CAGR of 6.5% during the forecast period (2017-2023) to reach $280.3 billion by 2022. Asia-Pacific dominates the automotive drivetrain market on account of increase in vehicle production and technological advancement in the automotive drivetrain market. Asia-Pacific region is followed by followed by Europe and North America. The growing demand for comfort, safety and need for high acceleration and towing capacity of a passenger, light commercial vehicle and heavy commercial vehicle is supporting the growth of automotive drivetrain market. The market for FWD vehicles is growing at a significant CAGR followed by RWD and AWD segments which are also growing at a moderate rate.

Trends

The key trend observed in the automotive drivetrain market is the development of new technologies in the manufacturing of the AWD drivetrain for cars and SUVs so as to improve overall vehicle performance and increase fuel efficiency. This is expected to increase the demand for AWD segment in the region. Growth in the AWD vehicles is emerging as new trend in the automotive drivetrain markets in China and India due to the introduction of compact crossovers and mini SUVs. The trend is expected to continue during the forecast period, as several automakers are planning to come up with new model range of crossovers and SUVs. Recently, the market for crossover and SUV segment has increased in Asia-Pacific. The market has grown significantly in last couple of years mainly supported by the new product launches by the SUV manufacturers. For instance, Toyata has launched the refreshed version of its SUV Fortuner, while Nissan is also planning to come up with the facelift version of Duster by the end of 2016. Additionally, the luxury vehicle manufacturers are introducing models with AWD options. For instance, Mercedes introduced its new model Mercedes-Benz E63 AMG with AWD option in US in September 2016.

Growth Drivers

The global automotive drivetrain market is majorly driven by the growing demand in the usage of lightweight material in the manufacturing of vehicle, which result in better fuel efficiency. Automakers are coming up with light-weight drivetrain, which is expected to improve the overall performance of the vehicle. Additionally, stringent emissions norms are driving the automotive drivetrain market globally. The surge in the demand and production of vehicles is one of the important factors driving the growth of the automotive drivetrain market. Since, 2014, the vehicle production and sales of automotive has improved significantly thus driving the automotive drivetrain market.

Competitive Landscape

The global automotive drivetrain market reported a consolidated structure in 2016, where the top three competitors accounted for the major share. Some of the key players in the global automotive drivetrain market include Aisin Seki Co., Ltd. Borgwarner Inc., GKN PLC, ZF Friedrichshafen AG, Showa Corporation, Schaeffler Group and American Axle & Manufacturing, Inc.  

Market Segmentation

  • By Drive Type
    • AWD
    • RWD
    • FWD
  • By Vehicle Type
    • Passenger Car
    • Light Commercial Vehicle
    • Heavy Commercial Vehicle
  • Electric Vehicle Type
    • Battery Electric Vehicle
    • Plug-In Hybrid Electric Vehicle
    • Hybrid Electric Vehicle

GEOGRAPHIC SEGMENTATION

  • By Region
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K.
      • Spain
      • Rest of Europe
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of Asia-Pacific
    • Rest of the World (RoW)
      • Brazil
      • South Korea
      • Rest of RoW

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