ID: MRFR/AM/3366-HCR | February 2021 | Region: Global | 100 pages
Automotive powertrain systems market has witnessed remarkable growth over the past few years and is expected to grow at 5.7% CAGR over the review period of 2020 to 2027.
An Automotive Powertrain is a system that encompasses diverse components that generate power for a vehicle. This system transfers the produced power to the wheels and thus supports the movement of vehicles. The automotive powertrain systems markethas demonstrated commendable performance in the global business environment due to the number of vehicles. According to the European Automobile Manufacturers Association, 47.5 % of all the newly registered cards in the European Union (EU) use petrol. This trend has increased the demand for efficient and eco-friendly automotive powertrain solutions in the global market environment.
The global market of automotive powertrain systems is expected to demonstrate good performance during the forecasted period. It is likely to register a CAGR of 5.7 % in the future. The key market players that operate in the market are expected to expand the global market size. The high consciousness of car owners relating to carbon emissions will likely increase the demand for innovative and sustainable automotive powertrain solutions. Additionally, introducing strict environmental regulations and guidelines will likely increase the demand for automotive powertrain systems among automobile producers and manufacturers.
Covid 19 analysis
The Covid 19 pandemic has negatively impacted the market growthat the global level. As the pandemic restricted the movement of people, the demand for automotive powertrain systems declined considerably. However, the performance of the market is expected to improve during the forecasted period as the strict restrictions have been easing gradually. Several factors could facilitate strong market performance in the future, such as integrating new technologies into automotive powertrain systems.
Competitive intensity in the industry
The competitive intensity of the global automotive powertrain systems marketis extremely high. A diverse range of factors come into play and intensify the competition, such as the high demand for passenger vehicles and the rising awareness of eco-friendly approaches that can curtail carbon emissions.
To survive and sustain in the cut-throat competitive automotive powertrain systems market, many business players have been devising innovative strategies and plans.
Chief variables existing in the market
A host of factors have contributed to the strong performance of the automotive powertrain systems market, such as the rise in vehicle production at the global level, increase in demand for passenger vehicles, and high consciousness relating to environmentally friendly automobile solutions. It is expected that these market drivers could play a pivotal role in influencing the market sizein the future.
The comprehensive forecast of the automotive powertrain systems industry has helped identify several market challenges, such as the changing regulatory landscape and complexity relating to the development of new and improved automotive powertrain systems. In recent times, the challenges in the market got further intensified due to the Covid 19 pandemic. The business players that operate in the market need to consider these market trends and challenges to effectively function in the future.
Several opportunities exist in the global automotive powertrain systems market that the market players in the future can exploit. The chief opportunity in the market is related to the rising demand for passenger vehicles and other automobiles. Apart from this, the surge in fuel-efficient automobiles and environmentally-friendly vehicles also gives rise to new opportunities for the business players that operate in the global market setting. These opportunities need to be exploited by businesses to capture a larger portion of the market sharein the future.
A number of restraints and obstacles arise for businesses in the global automotive powertrain systems market domain. One of the chief restraining factors is the high cost of automotive powertrain systems. The complexity could get further intensified for companies if they lack proper financial backing and support. Another restraint that exists in the market is the limited availability of an efficient and technically skilled workforce. These restraints hamper the growth of layers in the global market setting.
Cumulative evaluation of the market
The detailed evaluation of the global automotive powertrain systems market has helped identify several variables in the business environment. The drivers, restraints, opportunities, and challenges that have been identified have the potential to influence the market growth during the forecasted period. Organizations must consider the market trendsand devise their strategic approach to sustainably perform in the promising market.
Overview of the main market segments
The global market can be divided into several sub-segments, based on the component such as engine, transmission, differentials, driveshafts, and others. During the forecasted period, the engine and the transmission components are expected to dominate the market size at the global level. The components such as differentials and drive shafts are also expected to play an important role in driving the growth of the market. The chief factor contributing to the solid performance of the market segment is to curtail fuel usage in automobiles.
Based on the engine type, the market can be 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 due to the high demand for automotive powertrain systems by car manufacturers so that the high fuel usage and wastage could be managed efficiently.
The global market can be divided into passenger and commercial vehicles, based on the vehicle type. The passenger vehicle segment is likely to capture a considerable portion of the market share. The main reason for the strong performance of the market segment is likely is the surge 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.
The global automotive powertrain systems marketcan be fragmented into varying regions such as North America, Europe, the Asia Pacific, and the rest of the world. Different factors are likely to exist in each geographical region in the market and influence its growth during the forecasted period. In the past, the Asia Pacific geographical segment has dominated the market. Some of the major nations that have played a prominent role include India, South Korea, Japan, and China. In the North American and European segments, government policies relating to low carbon emissions and high fuel efficiency are the main factors accelerating market growth. The increase in the number of vehicles in the European market has also led to increased demand for automotive powertrain systems. Nations such as the United Kingdom, Germany, and France have contributed to the solid performance of the geographical market segment. During the forecasted period, the Asia Pacific market segment is expected to dominate the automotive powertrain systems market share at the global level. The main factors that could accelerate the market performance are the increase in penetration of passenger cars in developing nations and the introduction of strict environmental norms and guidelines.
Recent market developments
In-depth research has been conducted to forecast the market growth of the global automotive powertrain systems market during the forecasted period. Various strategic and analytical tools have been used to capture the key variables in the market and influence the performance of the automotive powertrain systems industry. The competitive intensity has been critically evaluated by identifying the chief business players.
Key Industrial segments
By Engine Type
By Vehicle Type
|Market Size||2027: Significant Value|
|CAGR||5.7% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Engine Type, Vehicle Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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), and ZF Friedrichshafen (Germany).|
|Key Market Opportunities||Demand for passenger cars and other vehicles|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global automotive powertrain system market is witnessing significant growth due to rising demand from APAc region, and strict government regulations concerning emission control.
The global automotive powertrain system market is maturing at a whopping 5.7% CAGR over the review period of 2020 to 2027.
A few significant players of the global automotive powertrain system market are Denso Corporation (Japan), GKN PLC (UK), Jtekt Corporation (Japan), and ZF Friedrichshafen (Germany), among others.
The gasoline engine segment is expected to drive market growth over the review period.
The engine and transmission segments are likely to witness the highest demand in the automotive powertrain system market.
Traditional Automatic Transmission, Automated Manual Transmission, and Continuously-Variable Transmission (CVT)
The drivetrain is what delivers power to move the wheels. The powertrain consists of both the engine and the drivetrain.