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Electric Vehicle Driveline Market Trends

Report ID: GMI11695
Published Date: Oct 2024
Report Format: PDF

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Electric Vehicle Driveline Market Trends

Continuous innovations in battery technology, electric motors, and power electronics are enhancing the performance and efficiency of electric driveline systems. Improvements such as higher energy densities, faster charging capabilities, and lighter materials are making electric vehicles more appealing to consumers. These advancements extend the driving range and reduce charging times, addressing key concerns that potential buyers may have. This ongoing technological progress boosts consumer interest and encourages manufacturers to launch new products in the market.

For instance, in January 2024 AAM showcased Next-Gen Electric Drive Solutions at CES. The company showcased several products including fully integrated beam axles and advanced component technologies.

The production of electric vehicle drivelines often requires advanced materials and complex manufacturing processes. This can lead to increased production costs, making electric vehicles less competitive. Additionally, fluctuations in raw material prices, particularly for lithium and cobalt used in batteries, can further exacerbate this issue. As demand for these materials rises, supply chain disruptions can lead to significant price volatility, creating uncertainty for manufacturers and consumers.

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of electric vehicle driveline reached USD 13.8 billion in 2023 and is set to grow at a CAGR of 8.4% from 2024 to 2032, driven by increasing consumer demand for sustainable transportation.

The single-speed transmission segment accounted for over 70% of the market share in 2023 and is expected to exceed USD 19 billion by 2032, attributed to its streamlined design, reduced manufacturing costs, and enhanced vehicle efficiency and performance.

The front-wheel drive (FWD) segment held around 59% of the market share in 2023, due to their compact design, which integrates the electric motor and battery at the front, optimizing space for passengers and cargo.

The U.S. market accounted for over 70% of the market share in 2023 and is expected to exceed USD 5.5 billion by 2032, propelled by increasing governmental support and incentives for electric mobility.

Major players in the industry include BorgWarner, Bosch, Continental, Dana Incorporated, GKN Automotive, JTEKT Corporation, Nidec Corporation, Schaeffler, Valeo, and ZF Friedrichshafen.