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Automotive drivetrain market worth $278.57 Billion by 2021

By Swati Deshpande,

Added 31 October 2016

Asia-Pacific is estimated to dominate the automotive drivetrain market

MarketsAndMarkets report — "Automotive Drivetrain Market by Drive Type (AWD, RWD, FWD), Vehicle Type (Passenger car, LCV, Buses and Trucks), Electric Vehicle Drive type (BEV, PHEV, HEV), and Region - Global Forecast to 2021"—suggests that the market is projected to grow at a CAGR of 6.18%, to reach a market size of USD 278.57 Billion by 2021.

The market is driven by factors such as the increasing need for better acceleration, traction, and towing capabilities in vehicles and the growing demand for comfort and safety in vehicles.

Towing capability, traction, and acceleration play a crucial role in Light Commercial Vehicles (LCVs) and Heavy Commercial Vehicles (HCVs). Generally, LCVs and HCVs are equipped with Rear Wheel Drive (RWD) for better towing capability. However, in terms of traction, All-Wheel Drive (AWD) systems are more effective than conventional RWD systems. Developments in the automotive drivetrain industry could lead to advanced drivetrain technology that meets the need for better acceleration and traction. The increasing need for better acceleration and traction has compelled Tier I companies to enhance the drivetrain system. The global demand for LCVs and HCVs is increasing at a promising rate; this is expected to drive the Automotive Drivetrain Market in the coming future.

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