NEW YORK, Nov. 9, 2016 /PRNewswire/ -- "The growing demand for comfort and safety in vehicles is expected to fuel the demand for automotive drivetrains"The automotive drivetrain market is projected to grow at a CAGR of 6.18%, to reach a market size of USD 278.57 billion by 2021. Several countries are attempting to shift to greener and lighter transportation solutions. The heavy, rigid shafts used in Sports Utility Vehicles (SUVs)/Multi-Utility Vehicles (MUVs)/Multi-Purpose Vehicles (MPVs), LCVs, and some big saloon sedans contribute to the weight of the vehicle. The automotive industry is witnessing a growing trend of lightweight hollow shafts. The forged construction of hollow shafts, along with their drilling and heat treatment, significantly reduces the weight of the shaft without compromising its torsional stiffness. These shafts are 15% to 30% lighter than their rigid counterparts. The lightweight shafts are generally equipped in hatchbacks and small and mid-size sedans. OEMs are exhibiting a growing inclination towards lightweight hollow shafts, and are using them in SUVs/MUVs/MPVs. "Battery Electric Vehicles constitute the fastest growing segment of the automotive drivetrain market, by vehicle type"Battery Electric Vehicles (BEVs) are expected to dominate the electric vehicle segment of the automotive drivetrain market. According to the International Energy Agency, 1 million electric cars were sold in 2015. Ambitious targets and policy support have lowered vehicle costs, extended vehicle range, and reduced consumer barriers in a number of countries. The market share of electric cars rose above 1% in seven countries in 2015: Norway, The Netherlands, Sweden, Denmark, France, China, and the U.K. Industries, governments, and early adopters have succeeded in demonstrating that electric cars can deliver the practicality, sustainability, safety, and affordability expected from them. "Better vehicle control in unfavourable terrains expected to increase the demand for automotive drivetrains"A vehicle loses traction in accident-prone conditions such as heavy rain, icy roads, and watery surfaces. In countries such as the U.S., Canada, and Germany, where roads are frequently covered with heavy snow, vehicles require additional grip and better traction to be sufficiently under the control of the driver. In such situations, vehicles equipped with All-Wheel Drive (AWD) perform well. In rough terrain conditions such as uneven, rocky surfaces, where the traction on all four wheels is never equal, the need for the distribution of torque to different wheels at different times is met by AWD systems. These systems can send an optimal amount of torque to the tires on demand, providing better traction and stability to the vehicle. Owing to these factors, the demand for AWDs is estimated to increase in regions where the aforementioned conditions exist. " Asia-Pacific: Fastest growing market for automotive drivetrains"Asia-Pacific is estimated to dominate the drivetrain market, and is projected to grow at the highest CAGR during the forecast period. China and Japan are the largest contributors to the global sales and production of Internal Combustion Engine (ICE) vehicles. The Asia-Pacific market is currently dominated by Front Wheel Drive (FWD) vehicles, but Rear Wheel Drive (RWD) and AWD vehicles are also witnessed substantial growth. FWDs are typically used in family cars that offer better fuel economy and moderate performance. The relatively calm weather in the Asia-Pacific region eliminates the need for better performance and traction, which is the key advantage of AWD. However, automotive manufacturers are developing new technologies for AWD vehicles to enhance fuel economy. This is expected to spur the growth of the AWD segment in the region. AWDs are rapidly gaining popularity in the Chinese and Indian markets due to the introduction of compact crossovers that offer better traction.