The powertrain market has been segmented based on components, propulsion type, drive type, vehicle type and regionally. The component segment includes motor/engine, power electronics, transmission, battery and other components, whereas propulsion segment comprise of IC engine, BEV powertrain, mild hybrid powertrain, PHEV powertrain and fuel cell. Based on the drive type, the market is segmented into all-wheel drive, forward wheel drive and rear wheel drive. Additionally, the market segment based on vehicle is segmented into passenger, commercial and off-road vehicles. Regionally, the market is segmented into Asia-Pacific, Europe, North America and the Rest of the World.
North America and Europe are expected to dominate the overall powertrain market which is majorly attributed to strong adoption of all wheel drive vehicles in these regions. However, Asia Pacific powertrain market is expected to witness highest gains owing to increasing vehicle sale coupled with growing demand for automated transmission in countries such as China and India. Also, substantial rise in the purchasing power of consumers has triggered demand for state-of-the-art motor vehicles which will drive the powertrain market in the near future.
Key Findings of Powertrain Market:
Growing pressure for reducing emissions and enhancing fuel economy are amongst key factors which are changing the mobility landscape. Therefore, it is driving OEMs to disrupt traditional chains by adopting altered powertrain strategies and invest in green technologies such as powertrain electrification, mass market conceptual technologies introduce never seen product mix and utilize innovative business models.
Development of advanced technologies such as combustion control improvements applied to internal combustion engine are also expected to contribute to the overall market growth.
In order to capitalize on the rapidly growing powertrain business, several global auto giants are coming up with standalone powertrain units, which will contribute significantly to the market growth.
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