Driveline Market for Electric and Hybrid Vehicles expected to grow at a CAGR of 16.92% – Report by MarketsandMarkets™

The key market players are as ZF (Germany), Schaeffler (Germany), GKN (UK), BorgWarner (US), Robert Bosch (Germany). Other players covers in the report are Hitachi (Japan), Continental (Germany), Delphi (UK), Denso (Japan), and Valeo (France).
The report defines, describes, and forecasts the global Driveline Market for Electric & Hybrid Vehicle by Architecture, Transmission, Motor Output, Final Drive, Power Electronics and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market.

The driveline market for electric and hybrid vehicle is estimated to grow at a CAGR of 16.92% from 2017 to 2025, to reach USD 63.32 billion by 2025. Increasing stringency in emission regulations has triggered the development and sale of battery electric vehicles (BEV), hybrid vehicles (HEV), and Plug-In Hybrid Vehicles (PHEV). Factors such as increase in sales of the electric & hybrid vehicles, technological advancements such as E-CVT, E-axle, E-drive, and lightweight & efficient drivelines are ultimately fueling the driveline market for electric and hybrid vehicle.

The increase in demand for PHEVs and HEVs has also led to the increased investments in the R&D of advanced technologies, which has resulted in technologies such as E-axle and E-CVT. The new E-axle is deployed in most of the HEVs and PHEVs. The E-axle unit is directly attached to the axle and has separate motors and converts mechanical brake energy into electrical energy. The use of E-axle would reduce interfaces and bearings, which would, in turn, result in better performance, and reduced noise. E-CVT is the advanced technology for transmission system. E-CVT is expected to remain the largest market due to its early adoption in hybrid vehicles and its ability to increase the overall efficiency of the vehicle by reducing transmission losses. In 2017, Schaeffler launched E-Wheel Drive, which would be located within the wheel rim. 

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Asia Oceania is estimated to be the fastest growing market as well as expected to have the largest market size owing to the strong demand for electric and hybrid vehicles in the Chinese and Japanese markets. Also, the rising per capita income of the region’s widespread consumer base has created a favorable environment for the growth of the electric and hybrid vehicle market. China is one of the leaders in auto component exports. Because the US has the third largest market for electric and hybrid driveline after China and Japan, this could be the opportunity for Asian and European electric and hybrid driveline components manufacturers to expand their business in the US. The cumulative effect of all these factors helps flourishing Chinese, Japanese, and probably, Indian automotive industries.

The Asia Oceania market is estimated to showcase the highest market volume and value both for parallel hybrid drivelines. In terms of value, the North American market is estimated to be the second largest market for parallel hybrid driveline. Currently power split architecture is dominating; however, going forward, parallel architecture is expected to gain market share. In the parallel architecture of hybrid electric vehicles, vehicles can be driven by the internal combustion engine and the battery. The power required to propel the vehicle is much lower than that in the series architecture. Due to these benefits, parallel architecture is one of the fastest growing driveline architectures in the driveline market. In 2017, Schaeffler developed high-voltage hybrid module in a P2 (Parallel) arrangement, which would reduce fuel consumption by 70% with an all-electric range of 50 km. As Schaefffler is the market leader in electric and hybrid driveline technology, the company stands to benefit the most from this opportunity.

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