Market Size of Driveline Systems For Electric Vehicle Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 8.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Electric Vehicle Driveline Market Analysis
The driveline systems for electric vehicles market is expected to register a CAGR of over 8.8%, during the forecast period, 2020-2025.
- The growth of the marketattributable to the favorable government policies, increasing incentives, declining lifetime cost of ownership, and falling battery prices. On the other hand, a major factor hindering the market growth is the higher cost of electric and hybrid driveline, when compared tothe conventional driveline.
- The developments and improvements in the AWD system and its penetration into the growing electric vehicles market are the other major factors that are anticipated to propel the growth of the market study during the forecast period.
- E-axles and differentials are used in a driveline as the end components, in orderto transmit motor power to wheels. E-axle reduces weight and improves the efficiency of electric vehicles. Although the market for e-axle is at a nascent stage, it is expected to attract attention among manufacturers in the future.
