Driveline Market for Electric and Hybrid Vehicles Worth 63.32 Billion USD by 2025
PUNE, India, February 5, 2018 /PRNewswire/ --
According to the new market research report "Driveline Market for Electric & Hybrid Vehicle [https://www.marketsandmarkets.com/Market-Reports/electric-hybrid-vehicle-driveline-market-235631222.html ] by Architecture (Series, Parallel, Power split), Transmission (AT, DCT, E-CVT), Motor Output (45-100, 101-250, >250kW), Final Drive, Drive Type, Power Electronics, Vehicle Type, Region - Global Forecast to 2025", published by MarketsandMarkets(TM), the market for Electric and Hybrid Vehicles is projected to grow from USD 18.14 Billion in 2017 to USD 63.32 Billion by 2025, at a CAGR of 16.92%.
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The Driveline Market for Electric and Hybrid Vehicles is projected to grow due to key reasons such as increasing demand for electric and hybrid vehicle and advancement in driveline technologies such as E-CVT and E-axle.
In power electronics, power control unit (PCU) is expected to show the fastest growth for electric and hybrid driveline
A power control unit, a combination of converter & inverter to convert AC/DC power and to regulate the voltage, is a future technology which is likely to have a huge impact on the electric and hybrid vehicle driveline. In the present scenario, Toyota Prius is installed with a power control unit which is very compact, making it possible to install it directly above the transaxle and place the auxiliary battery in the engine room, which increases the interior space. Toyota is planning to equip more compact power control unit in Avalon hybrid by 2019. The market is projected to rise owing to key reasons such as rapid adoption of electronics components in automotive, which supports the growth of power control unit by near future.
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In transmission, E-CVT is expected to have the largest market over the forecast period
E-CVT is an advanced technology which offers fuel saving compared to a traditional four-speed Automatic Transmission (AT). Regionally, the market for driveline by transmission type will vary according to the transmission preferences of consumers and the increasing sales of premium vehicles. E-CVT offers fuel saving over other transmission types, which makes E-CVT the most suitable for the Asian region. Some of the models with E-CVT are Toyota Camry Hybrid, Lexus CT200h, Lexus NX 300h, and GS 300h.
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Government subsidies, large production and technological advancement in the field of electric and hybrid driveline would drive the driveline market for electric and hybrid vehicle in Asia Oceania
Many governments around the world are challenged with declining air quality, and they set their own emission goals. They have been working to increase the market for electric and hybrid vehicles. To spur the sale of electric and hybrid vehicles, they have used emission regulations, public-private partnerships, incentives, and provided improved charging facilities. The Chinese government is providing acquisition tax and excise tax exemption (depending on engine displacement and price) (USD 5,100 to USD 8,700). China has the largest market for electric and hybrid driveline due to its large production and sales. Technological advancement in the field of electric and hybrid drivelines, such as regenerative braking, automatic start-stop, E-axle, E-drive, and an E-CVT are the major driving forces for the electric and hybrid driveline market. With the increase in demand for electrical and electronic devices in a vehicle, the automobile industry is continuously shifting toward a higher voltage power supply. High voltage power supply would require more efficient power electronics. Globally, various OEMs and Tier 1 players are contributing to the advancement of the power electronics technology. For example, Toyota developed a combined unit of converter and inverter called the Power Control Unit.
The key market players are as ZF (Germany), Schaeffler (Germany), GKN (UK), BorgWarner (US), Robert Bosch (Germany). Other players covers in the report are Hitachi (Japan), Continental (Germany), Delphi (UK), Denso (Japan), and Valeo (France).
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