Market Leaders - Automotive Drivetrains Market
The demand for automotive drivetrains is rising, owing to the increasing need for better acceleration, traction, and towing capabilities in vehicles. OEMs are compelling automotive drivetrain manufacturers to focus on manufacturing advanced drivetrains and components using lightweight materials with improved mechanical strength. The automotive drivetrain market is projected to grow at a CAGR of 6.18% during the forecast period, to reach USD 278.57 Billion by 2021. Market growth is driven by factors such as the growing demand for comfort and safety in vehicles and increasing need for better acceleration, traction, and towing capabilities in vehicles.
The key strategy adopted by major players to gain traction in the market is expansion. This strategy accounted for approximately 57% of all the strategies adopted by companies. For instance, Aisin Seiki Co., Ltd. (Japan) is planning to build a new office for its R&D affiliate Aisin (Nantong) Technical Center of China Co., Ltd. in China. This would help Aisin Seiki to fully integrate different stages of product development, such as design, development, and assessment, thereby improving the quality of products and services offered to customers. Additionally, American Axle & Manufacturing, Inc. (AAM) (U.S.) opened the Advanced Technology Development Center in Detroit (U.S.), with an investment of USD 50 million, in 2016. The facility will develop new products for various categories, including drivetrain systems, powertrain systems, and chassis systems. The second most widely followed strategy is new product development. For example, AAM has introduced the first EcoTrac disconnecting all-wheel drive. The new product has been developed to minimize the effect of inertia and drag on a driveline system by disconnecting rotating components. Other companies that have adopted this strategy include BorgWarner Inc. (U.S.), GKN plc (U.K.), Magna International Inc. (Canada), and Dana Holding Corporation (U.S.).
The drivetrain market is dominated by a few global players, and comprises several regional players. Aisin Seiki is a leading player in automotive drivetrain market. It specializes in the manufacture and sales of automotive parts (drivetrain, body, brake and chassis, engine, and information technology-related products). The company has a wide product portfolio for the drivetrain segment. Aisin Seiki has set strategic goals for ten years in its Aisin Group Vision 2020 plan, under which the company incorporates objectives such as developing products that support growth, strengthening competitiveness through innovation, and building a global business structure. To achieve these targets, the company is expanding its presence in various regions to reduce its dependency on the Japanese market.
AAM is a leading supplier of drivelines, drivetrains, and related products. It is present in 13 countries, with 37 facilities to support research and development activities. As of 2015, the company conducts operations in more than ten countries. It plans to expand its geographical presence by establishing manufacturing plants and entering into joint ventures and partnerships. AAM entered into a partnership with General Motors (U.S.) to provide axles and drive shafts for the latter’s next-generation full size truck.
Related Reports:
Automotive Drivetrain Market by Drive Type (AWD, RWD, FWD), Vehicle Type (Passenger car, LCV, Buses and Trucks), Electric Vehicle Drive type (BEV, PHEV, HEV), and Region - Global Forecast to 2021
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