Portland, OR, March 24, 2020 (GLOBE NEWSWIRE) -- According to the report, the global automotive drivetrain technology market was pegged at $17.94 billion in 2018 and is projected to reach $269.28 billion by 2030, registering a CAGR of 24.8% from 2019 to 2030. The report provides an extensive analysis of drivers & opportunities, changing market trends, competitive landscape, key segments, and market size & estimations

Rise in sale of electric and hybrid vehicles across the globe and increase in technological advancement have propelled the growth of the global automotive drivetrain technology market. However, high cost of electric vehicles and low economy of scale impede the market growth. On the other hand, stringent emission regulations to reduce vehicle weight and emission and rise in adoption of smart marketing strategy are expected to create lucrative opportunities in the near future.

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The automotive drivetrain technology market is segmented on the basis of technology, vehicle type, and region. Based on vehicle type, the market is categorized into passenger car, trucks, and buses. The passenger car segment held the largest share in 2018, contributing to nearly 88% of the global automotive drivetrain technology market. However, the truck segment is projected to register the fastest CAGR of 28.3% during the forecast period.

Based on technology, the market is divided into central motor, e-axle, and wheel hub module. The wheel hub module segment is anticipated to manifest the fastest CAGR 29.2% during the forecast period. However, the central motor segment dominated the global automotive drivetrain technology market in 2018.

Region wise, the global automotive drivetrain technology market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The market across the LAMEA region is expected to manifest the fastest CAGR of 27.7% during the forecast period. However, the market across Asia-Pacific held the largest share in 2018, contributing to nearly half of the market.

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The global Automotive Drivetrain Technology market report includes an in-depth analysis of the major market players such as Nidec Corporation, Schaeffler Technologies AG & Co. KG, Robert Bosch GmbH, Continental AG, Axletech International, AVL List GmbH, ZF Friedrichshafen AG, Dana Limited, Borgwarner Inc, and GKN Plc.

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