Electric and Hybrid Vehicles Driveline Market

The driveline in a vehicle transfers power from the engine or motor and transmits it to the wheels. Hybrid vehicles have multiple power sources internal combustion engine (ICE) and an electric motor that uses energy stored in batteries. The batteries in the vehicles are charged via regenerative braking and ICE. In the case, of an electric vehicle, the electric motor is the power source that drives the wheel by taking power battery charged externally. Moreover, there are different types of hybrid vehicles such as parallel hybrid where the electric motor and gasoline engine are connected in common transmission via one-way clutch so that one can rotate freely when the other is providing the power here a smaller battery pack is used. Furthermore, in a series hybrid, the engine is only used to recharge the battery when needed and the motor drives the wheel. Lastly, in a plug-in hybrid, a larger battery pack is used which can be charged externally, and after running when the charge is depleted the vehicle switches to parallel hybrid mode.

COVID-19 Impact Analysis

• COVID-19 has affected the global economy in various countries as lockdowns caused travel bans and business shutdowns, affecting the supply chain of the global electric and hybrid vehicles driveline market. Moreover, owing to lockdowns and social distancing norms, companies are experiencing disruption in their production. Furthermore, due to unavailability of labor and raw material required for production further delayed the manufacturing process. COVID-19 had a positive impact on the electric vehicles market as the sales of electric vehicles have increased. Thus, it is expected post-pandemic with the rise in the sale of electric vehicles will drive the growth of global electric and hybrid vehicles driveline market.

Top Impacting Factors 
High demand for electric & hybrid vehicles, surge in stringent government regulation regarding fuel emission, and increase in R&D to increase of efficiency of the electric vehicle are expected to boost the product market.
However, lack of charging stations for electric vehicles and high cost of hybrid & electric vehicles hamper the market growth.
Moreover, rise in demand for automatic driveline systems, increase in demand for lighter vehicles, and surge in government subsidies on the purchase of electric or hybrid vehicles are opportunistic for the market growth. 
Market Trends
Demand for electric & hybrid vehicles

• The rise in demand for alternative fuel vehicles has increased demand for battery-operated and hybrid vehicles. In addition, to reduce crude oil consumption, automotive emissions, and air pollution, governments authorities across the globe have adopted and implemented favorable policies, which promote the use of electric vehicles. 
• For instance, the electric vehicles market has witnessed huge growth in recent years the number of vehicles sold, which was once 890,470 in 2012 has reached 2.1 million units in 2018. California ZEV program, which aims at having 1.5 million electric vehicles on road by 2025, is one such initiative that promotes the purchase of electric vehicles.
• Moreover, GKN Automotive, the world's leading supplier of electric drive, all-wheel drive, and driveline technology collaborated with Delta Electronics Inc., a world-class provider of power and thermal management solutions in 2020. The companies together aim to develop rapid acceleration of next-generation integrated 3-in-1 eDrive systems of power classes from 80kW to 155kW. 
• All these new developments in electric & hybrid vehicle is expected to drive the growth of the global electric and hybrid vehicles driveline market.    

Rise in government subsidies on purchase of electric or hybrid vehicles

• The rise in concern for declining air quality has made the governments of major countries set their own emission goal and give various subsidies to promote the adoption of electric and hybrid vehicles. Moreover, to spur the sale of electric and hybrid vehicles, they have used emission regulations, public-private partnerships, incentives, and provided improved charging facilities.
• For instance, to promote the adoption of electric and hybrid vehicles Chinese government is providing acquisition tax and excise tax exemption of $5,100 to $8,700. Currently, China is the largest market for electric and hybrid driveline due to its large production and sales. The rise in 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. 
• Thus, the rise in government involvement to promote electric and hybrid vehicles can act as an opportunity for the growth of the global electric and hybrid vehicles driveline market.

Key Benefits of the Report

• This study presents the analytical depiction of the global electric and hybrid vehicles driveline market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with challenges of the global electric and hybrid vehicles driveline market.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the global electric and hybrid vehicles driveline market growth scenario.
• The report provides detailed global electric and hybrid vehicles driveline market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions Answered in the Report

• Which are the leading market players active in the global electric and hybrid vehicles driveline market?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the global electric and hybrid vehicles driveline market?
• What are the projections for the future that would help in taking further strategic steps? 

 Electric and Hybrid Vehicles Driveline Market Report Highlights