Research Nester has released a report titled “Drive Assy Market: Global Demand Analysis & Opportunity Outlook 2030” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.

Between the years 2018 and 2019, the sales of electric cars around the globe grew by 6% to touch 2.1 Million units, according to statistics by the International Energy Agency (IEA).

Globally, with the surge in the sales of different types of electric vehicles, such as battery electric vehicles (BEVs), alternate energy vehicles, and new energy vehicles, the demand for high-performance electric drive systems is projected to grow significantly. These drive assemblies are known to provide greater efficiency and high transmission speeds, and are of major interests to vehicle component manufacturers. This, as a result, is one of the major factors, anticipated to drive the growth of the global drive assy market in the coming years.

The global drive assy market is anticipated to grow with a CAGR of 3.95% during the forecast period, i.e., 2021-2030. The market is estimated to garner a revenue of USD 1596.8 Million by the end of 2030, up from a revenue of USD 1089.3 Million in the year 2020. On the basis of component, the market is segmented into chain & sprocket, gear & pinion, converters, motors, couplings, and others. The gear & pinion segment, out of all the other segments, is expected to grow with the highest CAGR of 4.78% during the forecast period, and attain the largest market revenue of USD 520.3 Million by the end of 2030, up from USD 328.0 Million in the year 2020.

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Further, on the basis of regional analysis, the global drive assy market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in the Asia Pacific is expected to grow with the highest CAGR of 4.31% during the forecast period, and further touch USD 791.7 Million by the end of 2030. Moreover, in the year 2020, the market in the region registered a revenue of USD 521.8 Million. Amongst the countries in the region, the market in China is expected to garner the largest market revenue of USD 346.5 Million by the end of 2030.

However, the declining production rate of vehicles is one of the major factors predicted to restrict the growth of the market in the coming years.

This report also provides the existing competitive scenario of some of the key players of the global drive assy market, which includes company profiling of ABB, Robert Bosch GmbH, ThyssenKrupp AG, Continental AG, BorgWarner Inc., AISIN CORPORATION, ZF Friedrichshafen AG, DENSO Corporation, General Motors, and others.

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The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Drive Assy Market: Global Demand Analysis & Opportunity Outlook 2030”, analyses the overall global drive assy industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global drive assy market in the near future.

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