Global Drive Assy Market Analysis 2020-2030
Drive assy is a component, which causes a rotary kiln to rotate. The selection of drive assy depends on the drive horsepower and the size of the kiln. The different end-use industries in which drive assy is used are automotive, metals & heavy machinery, food & beverage, healthcare, logistics, aviation, ecommerce, automation & robotics, and others. The global drive assy market is anticipated to grow with a CAGR of 3.95% during the forecast period, i.e., 2021-2030. Factors such as the increasing adoption of electric vehicles worldwide, followed by the growing demand for highly advanced drive assemblies for greater performance in vehicles, and the surge in sales of vehicles, are anticipated to drive the growth of the market in the coming years. The global drive assy market is estimated to cross a revenue of USD 1590 Million by the end of 2030, up from a revenue of about USD 1090 Million in the year 2020.
The global drive assy market is segmented by numerous segments, which include segmentation by component, distribution channel, end-use industry, and by region. On the basis of component, the market is segmented into chain & sprocket, gear & pinion, converters, motors, couplings, and others. Out of these segments, the gear & pinion segment attainted the largest market revenue of over USD 320 Million in the year 2020, and is further expected to touch near to USD 520 Million by the end of 2030. The segment is also expected to grow with the highest CAGR of 5% approximately during the forecast period.
On the basis of geographical analysis, the global drive assy market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of the market in these regions, the market in the Asia Pacific, in the year 2020, registered the largest revenue of over USD 520 Million, and is further predicted to generate a revenue of around USD 800 Million by the end of 2030.
Some of the prominent industry leaders in the global drive assy market that are included in our report are ABB, Robert Bosch GmbH, ThyssenKrupp AG, Continental AG, BorgWarner Inc., AISIN CORPORATION, ZF Friedrichshafen AG, DENSO Corporation, General Motors, and others.