Automotive Powertrain Systems Market Growth Opportunities Emerging Trends and Forecast 2032
Automotive Powertrain Systems Market:
The automotive powertrain systems market is a crucial segment of the automotive industry, focusing on the components and technologies that drive vehicles and manage power transmission.
Automotive Powertrain Systems Market encompass various components, including internal combustion engines (ICEs), electric and hybrid powertrains, transmissions, and drivetrains. These systems play a key role in determining a vehicle's performance, fuel efficiency, emissions, and overall driving experience.
Market Research Future Insights
According to MRFR analysis, the global Automotive Powertrain Systems Market is expected to register a CAGR of 5.70 % from 2024 to 2032 and hold a value of over USD 86.01 Billion by 2030.
An Automotive Powertrain is a system that encompasses diverse components that produce power for a vehicle. This system transfers the produced power to the wheels and thus supports the movement of vehicles. The automotive powertrain systems market has demonstrated commendable performance in the global business environment owing to the number of vehicles.
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Key Companies in the Automotive Powertrain Systems market includes
Toyota Motor Corporation (Japan)
General Motors Company (US)
Hyundai Motor Company (South Korea)
Aisin Seiki (Japan)
Borgwarner (US)
Ford Motor (US)
Delphi Automobile (UK)
Magna Powertrain (US)
Denso Corporation (Japan)
GKN PLC (UK)
Jtekt Corporation (Japan)
Regional Analysis
The upsurge in the number of vehicles in the European market has also led to amplified demand for automotive powertrain systems. Nations such as the United Kingdom, Germany, and France have contributed to the rock-hard performance of the geographical market segment.
Asia Pacific market segment is projected to dominate the automotive powertrain systems market share at the global level. The main factors that could accelerate the market performance are the upsurge in the penetration of passenger cars in developing nations and the introduction of strict environmental norms and guidelines.
Market Segmentation
The Global Automotive Powertrain Systems Market has been segmented into Component, Engine Type, and Vehicle type
Based on Components, The Global Automotive Powertrain Systems Market has been segmented into the engine, transmission, differentials, driveshafts, and others. During the forecasted period, the engine and the transmission components are projected to dominate the market size at the global level. The chief factor contributing to the rock-hard performance of the market segment is curtailing fuel usage in automobiles.
Based on the engine type, The Global Automotive Powertrain Systems Market has been segmented into gasoline and diesel. The gasoline segment is likely to demonstrate exceptional performance in the global market setting during the forecasted period. The solid performance of the market segment is likely to be accelerated owing to the high demand for automotive powertrain systems by car manufacturers so that the high fuel usage and wastage could be managed efficiently.
Based on vehicles, The Global Automotive Powertrain Systems Market has been segmented into passenger and commercial vehicles. The passenger vehicle segment is likely to capture a considerable portion of the market share. The key reason for the strong performance of the market segment is likely the rush in sales of passenger vehicles all across the globe. The rise in the number of automobiles on the streets is one of the top market trends that would influence market performance in the future.
Automotive Powertrain Systems Industry News
General Motors Company (US)
Electric Vehicle Transition: GM has been at the forefront of the electric vehicle revolution. The company has announced plans to invest billions of dollars in electric vehicle development and production. GM has also introduced several new electric vehicle models, including the Chevrolet Bolt, Cadillac Lyriq, and GMC Hummer EV.
Hyundai Motor Company (South Korea)
Electric Vehicle Lineup: Hyundai has expanded its electric vehicle lineup in recent years, introducing models such as the Kona Electric, Ioniq 5, and Ioniq 6. The company has also announced plans to invest heavily in electric vehicle research and development.
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