The automotive powertrain market will grow at a CAGR of over 7% during 2024-2028, reaching a projected value of USD 662 Billion by 2028. The key factors driving this growth globally include stringent emission norms, increasing demand for automated transmission, and the trend of downsizing engines.
The automotive powertrain market is segmented based on vehicle, drive, type, and region. The passenger cars segment is anticipated to hold the dominant share until 2028, followed by light commercial vehicles and heavy commercial vehicles due to increasing demand for comfort, safety, and better acceleration in vehicles.
Gasoline engines dominated the market in 2022 and are projected to continue growing through 2028 due to increasing differences in diesel and gasoline prices and rising demand for gasoline-based engines.
In terms of value, the Asia Pacific region holds the largest market share in the automotive powertrain market due to increasing population, growing purchasing power, and rising vehicle production and sales.
Aisin Seiki Co. Ltd., General Motors Company, Borgwarner Inc., Ford Motor Company, Jtekt Corporation, Hyundai Motor Company, Toyota Motor Corporation, GKN PLC, and ZF Friedrichshafen AG are some of the leading players in the global automotive powertrain market.
Objective of the Study:
- To analyse and forecast the market size of Automotive Powertrain Market, in terms of value and volume
- To classify and forecast Global Automotive Powertrain Market based on vehicle type, drive type, type and regional distribution.
- To identify drivers and challenges for Global Automotive Powertrain Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Global Automotive Powertrain Market.
- To conduct the pricing analysis for Automotive Powertrain Market.
- To identify and analyse the profile of leading players involved in the manufacturing of Global Automotive Powertrain Market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the suppliers which could not be identified due to the limitations of secondary research. TechSci Research analysed the service offerings, distribution channels and presence of all major collaboration manufacturer across the globe.
TechSci Research calculated the market size of Global Automotive Powertrain Market using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.
Key Target Audience:
- Manufacturers of Automotive Powertrain
- Automotive OEMs
- Raw material suppliers
- Traders, Distributors, and Suppliers
- Industry associations and experts
- Research organizations and consulting companies.
- Research Institutes
- Industry associations
- Market research and consulting firm.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration manufacturer and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Browse full report with Figures and Tables: Automotive powertrain market
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