Pune, India, April 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Automotive Powertrain System Market.
As per the analysis by Market Research Future Reports (MRFR), the global automotive powertrain system market is growing at a CAGR of 5.7% CAGR during the forecast period from 2017 to 2023. The global automotive powertrain system market has experienced a notable expansion during the last few years and is likely to expand at a fast pace during the review period. The global automotive powertrain system market 2020 is primarily influenced by factors like increasing sales of new vehicles, low emission, and improved fuel efficiency. The increasing demand for gasoline engine vehicles has always played an essential role in expanding the market. Besides, the increasing disposable income in several countries has also resulted in the growth of the market over the past few years. Moreover, there has been a rapid increase in the demand from the APAC region, which has also resulted in the expansion of the market. The continuous advancements that are being made in the field of technology and the developing economies have played a crucial role in the expansion of the market. However, there are some obstacles like the expensive system price and lack of awareness.
The global automotive powertrain system market can be segregated on the basis of engine type, component, vehicle type, and region.
On the basis of engine type, the global automotive powertrain system market can be divided into the diesel engine and gasoline engine. The gasoline engine vertical is estimated to dominate the market, followed by a diesel engine.
On the basis of component, the global automotive powertrain system market can be divided into drive shafts, transmission, engine, differentials, and others. Out of all the segments, the engine and transmission is estimated to lead the market, followed by differentials and driveshafts.
On the basis of vehicle type, the global automotive powertrain system market can be divided into commercial vehicles and passenger vehicles. There have been rapid sales in the passenger car segment, and the segment is likely to dominate the passenger car segment during the review period.
On the basis of region, the global automotive powertrain system market can be divided into Asia Pacific, North America, Europe, and the Rest of the World (Row).
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The regional analysis of Asia Pacific, Europe, North America, and the Rest of the World (RoW) has been conducted. As per the analysis by the Market Research Future Reports (MRFR), the APAC region acquired the largest market share in 2016, followed by North America and Europe. In the APAC region, the emerging economies like India, Japan, China, and South Korea are the forefront players in the automotive powertrain system market. Asia-Pacific region has proven to be the fastest-growing economy at the global level. With the implementation of policies concerning low emission and higher fuel efficiency, Europe and the North American market have become an important growth driver. Besides, the European market is witnessing increased sales of new vehicles, which has propelled the demand for automotive powertrain systems. Europe is home to developed nations like France, Germany, and the UK and has contributed significantly to the expansion of the automotive powertrain system. The Rest of the World (Row), is estimated to show a moderate rate of growth during the review period.
The essential players in the automotive powertrain system market include General Motors Company (US), Toyota Motor Corporation (Japan), Hyundai Motor Company (South Korea), Borgwarner (US), Aisin Seiki (Japan)), Ford Motor (US), Magna Powertrain (US), Delphi Automobile (UK), Denso Corporation (Japan), Jtekt Corporation (Japan), GKN PLC (UK), ZF Friedrichshafen (Germany).