Albany, NY -- (SBWire) -- 09/20/2018 --Drivetrain components are a bunch of parts which helps in powering the driving wheels. In a 111-pages report titled, Global Automotive Drivetrain Components Market Insights, Forecast to 2025", which is up for sale on the website, offers market share, growth and market status. The authors of the report extensively gathered information from primary and secondary research sources. The report includes various market dynamics such as trends, opportunities, restraints and advancement of technology which are predicted to have a significant impact on the growth of the market.
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Rising demand and production of vehicles is a major factor that is promoting the growth of the automotive drivetrain market. It has been duly noted during the year 2007-2008, the automotive industry had received a blow, but from the year 2014, the market has never looked back, and thus fueling the growth of automotive drivetrain components market as well. One of the ongoing trend that has impacted the growth rate is the development of new technologies while making the AWD drivetrain for SUVs and cars in order to enhance the overall vehicle performance without hampering the fuel efficiency. This is likely to rise the demand for AWD segment. Arrival of mini SUVs and crossovers in countries such as India and China is aiding the AWD segment to grow exponentially. Apart from these, strict rules and regulation implemented by government on automobile industry is likely to fuel the demand. Advent of electric vehicles are like to deter the growth of the market
The global automotive drivetrain market is classified on the basis of type, application, and region. On the basis of type, the market is segregated into diesel automotive, gasoline automotive, flex fuel automotive, hybrid automotive, and others. On the basis of application, the market is divided into commercial vehicle, passenger vehicle and other. Among these passenger vehicle are likely to hold the major share in the market due to rapid urbanization along with change in lifestyle.
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On the basis of geography the global automotive drivetrain market is spread across Latin America, North America, Asia Pacific, Middles-East and Africa, and Europe. Amongst the pack, Asia Pacific held the major share in the market and is likely to continue dominating owing to rise in emerging economic countries, accompanied with rise in disposable income in the region. Presence of players in the region aided the region to grow significantly. North America and Europe are prognosticated to see a surge in demand with a steady rise in CAGR due to rise in sales of automotive components. Some of the major players in the market are American Axle & Manufacturing, Inc., Magna International Inc., JTEKT Corporation, and BorgWarner Inc.,
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Rise in Demand of Automotive Industry Favors the Growth of Global Automotive Drivetrain Components Market
The global automotive drivetrain components market is anticipated to see a significant growth during the forecast period 2018-2025 due to increase in automotive industry all across the world, notices Market Research Reports.biz.