Drive System Market 2020 Industry Analysis Research Report

Posted by Abhijeet Bendre on January 15th, 2020

Drive System Market

The global market for drive system is growing significantly during recent times, partly due to the growing vehicle production across the globe. Market Research Future (MRFR) has published and released a research report about the global drive system market that predicts growth for this market between 2016 and 2023.

The global drive system market is growing due to various factors. Its significant growth is primarily due to the growth of vehicle production. Other factors include better vehicle performance due to transmission system & rapidly rising demand for high fuel efficiency, stringent regulatory norms in many countries regarding the environment, and increased investment in the automotive industry across the globe. However, the high cost of advanced transmission systems can obstruct market growth.

The global drive system market has been segmented on the basis of operation, type, vehicle type, and region. Based on the operation, this market has been segmented into automatic and manual. By type, the market has been segmented into all-wheel drive vehicle (AWD), rear-wheel drive (RWD), and others. The vehicle type segmentation segments the market into passenger vehicle and commercial vehicle.

The regional segmentation of the global drive system market segments the market into continent-based regional markets known as North America, Europe, Asia Pacific, and the Middle East & Africa (MEA). According to the report, the market for drive system systems is expected to grow with an increase in the demand of automobiles during the forecast period. This increase is primarily in North America and Europe. North America is expected to be the largest regional market during the forecast period due to factors like increasing demand for automatic manual transmission (AMT) across this region, the presence of sophisticated manufacturing hubs and market, and rapid technological advancement. Most powerful economies in North America are the United States of America (USA) and Canada. In the USA, the growing demand for commercial vehicles has increased the demand for drive system systems market. The rising investment and demand for fuel-efficient vehicles are likely to spell further growth for the market.

The growth of the Europe region is being driven by the presence of major auto manufacturers that trying their best to meet the increasing demand for both, passenger as well as commercial vehicles. The laws aimed to prevent carbon emissions and save the environment are stricter in Europe than they are in North America. Therefore, the demand for eco-friendly vehicles is rising. The cream of the European market comprises of France, Germany, Italy, Spain, and the United Kingdom (UK).

Asia Pacific is a significant regional market due to factors including the production of passenger cars and light commercial vehicle (LCV) in the developing economies. Many Original equipment manufacturers (OEMs) are keen to open their production facilities, in this region, especially in China and India, which are the fastest growing economies in this region. In this region, the market is growing due to some other factors like rising sales of passenger cars, investment from global market players. The rise in vehicle production and increasing disposable income among consumers are also aiding the market growth. Apart from China and India, the other important country-specific markets are Japan and South Korea, followed by the rest of Asia Pacific.

In the MEA region, market is slow but steady. The reasons for slow market growth in the MEA region are lack of awareness, lack of education, lack of technological development, and political instability.

Key Players

The key players in the global drive system market include Bosch (Germany), Continental AG (Germany), Cummins (USA). Delphi Automotive PLC (UK), Denso (Japan), Hitachi Automotive Systems (Japan), Mahle (Germany), Infineon (Germany), Johnson Electric (China), Mitsubishi Electric (Japan), Schaeffler (Germany), and Valeo (France).

Latest Industry News

Dana Incorporated has been selected by Ford Motor Company to supply Spicer® SmartConnect™ disconnecting all-wheel-drive (AWD) systems for the global Ford Edge Program. 29 OCT 2018

Continental AG has shifted the drive system aftermarket brand. It is carrying out a brand shift in the drive system aftermarket. From now on, the components including timing belts, timing chains, accessories, and tools for automotive workshops will be sold not under the ContiTech brand, but they will rather be distributed under the Continental name. 6 NOV 2018

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Market Research Future

+1 646 845 9312

Email: sales@marketresearchfuture.com