Global Automotive Powertrain Market Size By Vehicle Type (Passenger Vehicles, Commercial Vehicle), By Engine Type (Gasoline, Hybrid, Diesel, Battery Electric Vehicle), By Geographic Scope And Forecast

Automotive Powertrain Market Size And Forecast

Automotive Powertrain Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period of 2023 to 2030.

The growing demand for vehicle electrification in the automotive industry and the increase in sales of electric cars are also contributing to the demand for automotive powertrains. Additionally, it is anticipated that the industry would grow more swiftly as demand for automated transmissions and engine downsizing to improve fuel efficiency in vehicles rises. The Global Automotive Powertrain Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Automotive Powertrain Market Definition

The production and transmission of power to a vehicle’s wheels is carried out by a group of components known as the automobile powertrain. Axles, an engine or motor, a driveshaft, and a differential are frequently seen. An engine that converts petrol into mechanical energy serves as the main source of power. The gearbox ensures that the engine’s power is delivered to the wheels at the appropriate speed and torque. The driveshaft connects the transmission’s output to the differential, which ultimately transfers the power to the wheels. Axles connect wheels to differentials and support the weight of the vehicle. In order to ensure efficient and reliable operation of the engine and gearbox, a multitude of sensors and control systems are used in the powertrain.

Automotive powertrain types include internal combustion engines (ICEs), fuel cell electric cars (FCEVs), hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs). An ICE is the most common variety, and its engine is powered by fossil fuels like petrol or diesel. HEVs create electricity using both an ICE and an electric motor, however, PHEVs can be recharged from an external power source. While BEVs are entirely electric and rely only on batteries, FCEVs provide the electricity needed to power the vehicle using hydrogen fuel cells. Each kind of powertrain offers advantages as well as drawbacks depending on factors like cost, economy, and environmental impact.

How efficiently cars run and function depends on the automotive powertrain. In order to propel the car ahead, the engine converts fuel or electrical energy into mechanical energy. The efficiency and dependability of the powertrain can have a considerable impact on the fuel economy, emissions, and overall performance of the vehicle. Because of the increasing focus on reducing carbon emissions and improving fuel efficiency, the development and implementation of novel powertrain technology, such as hybrid and electric powertrains, is significant. The advancement of control systems and sensors has also led to improvements in the performance of the powertrain and a decrease in pollutants. An efficient and well-designed powertrain is essential for a safe, pleasurable, and environmentally friendly driving experience.

Global Automotive Powertrain Market Overview

The Automotive Powertrain Market is primarily driven by two factorsthe production of cars and the demand for aftermarket parts. As vehicle production increases, demand for powertrain components including engines, transmissions, and differentials has increased. In addition, as vehicles age and require repairs, there is a growing aftermarket market for replacement powertrain components. Due to the increased need for fuel-efficient and low-emission vehicles, there is a developing market for advanced powertrain technologies, such as hybrid and electric powertrains. In general, it is projected that increased vehicle production, growth in the need for aftermarket parts, and the introduction of new powertrain technology would all lead to an expansion of the automotive powertrain industry.

The expansion of the Automotive Powertrain Market depends heavily on technological progress. Material, manufacturing, and control system advancements enable the production of more trustworthy and effective powertrain components. A key factor in the weight reduction of powertrain components, which enhances performance and fuel efficiency, is the adoption of lightweight materials like aluminum and carbon fiber. The accuracy and efficiency of powertrain operation are also rising due to advancements in sensors and control systems. The development and use of cutting-edge powertrain technology, such as hybrid and electric powertrains, are causing the industry to grow.

Due to the rising popularity of electric vehicles, the market for automotive powertrains is rapidly developing. Electric vehicles (EVs) require different powertrain parts from conventional vehicles, such as batteries, electric motors, and power electronics. As the demand for EVs develops in response to worries about climate change and rising fuel prices, the market for electric powertrain components is anticipated to expand. Due to advancements in battery technology, EVs can now travel farther distances, increasing their utility for daily driving. As a result, there is an increase in demand for electric powertrain components. As more people move to electric vehicles, the market for automotive powertrains is anticipated to grow overall, particularly in the area of electric powertrain components.

One of the major obstacles for the automotive powertrain sector is the high cost of creating and manufacturing revolutionary powertrain technologies. These technological advancements, like hybrid and electric powertrains, necessitate specialized materials and manufacturing processes, which could raise production prices. Additionally, as powertrain components get more complex, fixing and maintaining them may become more difficult, increasing customer maintenance costs. The switch to electric vehicles may also cause a decline in demand for some traditional powertrain components, creating uncertainty for manufacturers and suppliers in the sector.

Global Automotive Powertrain Market Segmentation Analysis

The Global Automotive Powertrain Market is segmented on the basis of Vehicle Type, Engine Type, and Geography.

Automotive Powertrain Market, By Vehicle Type

• Passenger Vehicle
• Commercial Vehicle

Based Vehicle Type, the market is segmented into Passenger Vehicles and Commercial Vehicle. The Passenger Vehicle segment dominated the market share in this sector. The market for passenger vehicles powered by diesel and oil is shifting away from traditional fuels in favor of electric vehicles as a result of increasing government investments in EV infrastructure and tax incentives offered to consumers.

Automotive Powertrain Market, By Engine Type

• Gasoline
• Hybrid
• Diesel
• Battery Electric Vehicle
• Fuel Cell

Based on Engine Type, the market is segmented into Gasoline, Hybrid, Diesel, Battery Electric Vehicle, and Fuel Cell. The Gasoline segment is expected to dominate the market share in the forecasted period due to the growing use of gasoline and its replacement as diesel prices continue to rise.

Automotive Powertrain Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Based on Geography, the Global Automotive Powertrain Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific has accounted for the highest market share. Rising disposable income, increased urbanization, and an intense marketplace that promotes car ownership throughout the region are mostly responsible for the growing population in the Asia Pacific region.

Key Players

The “Global Automotive Powertrain Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Mitsubishi Electric Corp, Marelli Holdings Co.Ltd, BorgWarner, Schaeffler AG, Toyota Motor Corporation, Hyundai Motor Company, JTEKT Corporation, ZF Friedrichshafen AG, Volkswagen AG, and Ford Motor Company.

Our market analysis entails a section solely dedicated to such major players wherein our analyst provides insight into the financial statement of all major players along with its swot analysis. The competitive landscape section also includes key development strategies and the market share of the above players.

Key Developments

• In October 2020, General Motors invested approximately USD 2 million in a Tennessee business that is in transition to producing electric automobiles in Spring Hill.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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