Drive System Market Overview:
The global drive system market size will develop at a 8.40% of CAGR during the forecast period 2022- 2030, states the latest Market Research Future (MRFR) analysis. The drive system is the type of system driving one’s car. Drive system manufacturers are competing to create fuel efficient systems sans compromising on the performance of the vehicle. The automatic transmission is highly preferred over manual transmission owing to its fuel efficiency, better comfort level, and increased power. AWD, RWD, and others are its different types that have wide applications in commercial vehicles and passenger vehicles.
Various factors are fuelling the global drive system market growth. As per the recent MRFR market estimates, such factors include the growing vehicle production, highly growing need for high fuel efficiency and transmission system, increasing use of alternative fuel like ethanol, increasing trend of engine downsizing, increasing demand for automobiles, and surging need for automatic manual transmission (AMT).
On the contrary, high cost of advanced transmission system may limit the global drive system market growth over the forecast period. Besides the halt in production of vehicles and closing of manufacturing facilities due to lockdowns and social distancing trends owing to the ongoing COVID-19 pandemic may also impact market growth.
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Key Players
The eminent players profiled in the global drive system market report include Cummins (U.S.), Mahle (Germany), Valeo (France), Hitachi Automotive Systems (Japan), Infineon (Germany), Mitsubishi Electric(Japan), Johnson Electric (China), Schaeffler (Germany), Bosch (Germany), Denso (Japan), Delphi Automotive Plc.(U.K.), and Continental AG (Germany), among others.
Drive System: A drive system refers to a mechanism or arrangement that transmits power from a source to a machine or a component within a machine, enabling it to perform its intended function. The drive system typically involves components such as motors, gears, belts, chains, and shafts, which work together to transfer energy and motion.
Drive and its Types: In the context of mechanical systems, "drive" refers to the means by which power is transmitted to achieve movement or operation. There are several types of drives:
- Mechanical Drives: These use mechanical components such as gears, belts, chains, and shafts to transmit power. They are widely used in various applications where precise control and mechanical advantage are necessary.
- Electrical Drives: These convert electrical energy into mechanical motion. They are commonly used in electric vehicles, industrial machinery, and appliances.
- Hydraulic Drives: These use pressurized fluid to transmit power. They are prevalent in heavy machinery, construction equipment, and hydraulic presses.
- Pneumatic Drives: These use compressed air to transmit power. They are found in pneumatic tools, automation systems, and some types of industrial machinery.
Mechanical Drive System: A mechanical drive system specifically refers to a system that uses mechanical components like gears, pulleys, chains, or belts to transmit power from one part of a machine to another. It is crucial in various applications, from simple mechanisms to complex industrial machinery, where precise control over speed, torque, and direction is required.
Uses of Drives: Drives are essential in numerous applications across industries and everyday life. Some common uses include:
- Industrial Machinery: Drives are integral in manufacturing processes, assembly lines, and automated systems.
- Transportation: Drives power vehicles such as cars, trains, ships, and aircraft.
- Consumer Electronics: Drives are used in appliances like washing machines, refrigerators, and HVAC systems.
- Renewable Energy: Drives are critical in wind turbines and solar tracking systems.
- Robotics: Drives enable precise movement and operation in robotic systems.
Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global drive system market based on operation, vehicle type, and type.
By operation, the global drive system market is segmented into manual and automatic.
By vehicle type, the global drive system market is segmented into commercial vehicle and passenger vehicle.
By type, the global drive system market is segmented into AWD, RWD, and others.
Regional Analysis
By region, the global drive system market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW). Of these, North America will head the market over the forecast period. Increasing demand for automobiles in the US, growing need for automatic manual transmission (AMT) across the region, sophisticated manufacturing market and hubs with regards to technology, immense demand for commercial vehicles in the US that in turn is increasing the demand for drive systems, major demand for fuel efficient cars, and heavy investment in the technological development are adding to the global drive system market growth in the region.
In the APAC region, the global drive system market is predicted to hold the second-largest share over the forecast period. Growth in the production of LCV and passenger cars in the developing economies, OEMs keen to open production facilities in the region particularly in India and China, rising sale of passenger cars, emerging economies where global players are shifting, technological advances, and rampant increase in vehicle production are adding to the global drive system market in the region.
In Europe, the global drive system market is predicted to have healthy growth over the forecast period for the presence of some major auto manufacturers that are chiefly focusing to meet the growing need for both commercial vehicles and passenger vehicles.
In RoW, the global drive system market is predicted to have sound growth over the forecast period.
The global drive system market is fragmented and also competitive with the presence of many domestic as well as international industry players. They have incorporated assorted strategies to stay at the forefront and also cater to the surging needs of the customers, including collaborations, partnerships, contracts, geographic expansions, new product launches, joint ventures, and more. Additionally, these players are also making heavy investments in research and development activities for strengthening their portfolios and also creating a hold in the market.
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