Automotive Powertrain Systems Market: 2019 Size, Trends, Share, And Key Country Forecast To 2023
Automotive Powertrain Systems Market Research Report - Forecast To 2023. Global Automotive Powertrain Systems Market Information Report, By Component (Engine, Transmission, Differentials, Drive Shafts and Others), By Engine Type (Gasoline and Diesel), By Vehicle Type (Passenger Vehicles and Commercial Vehicles and By Region - Forecast To 2023.
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Market Overview:
The global automotive powertrain system market has witnessed remarkable growth over the past few years and is expected to grow at rapid pace during the forecast period. Automotive powertrain system is one of the crucial parts of a vehicle that generates power throughout the engine and delivers it to the road surface. In a broader sense, the powertrain system components such as engine, transmission, drive shafts, differentials and others are used to transform the stored energy into kinetic energy. Moreover, in the past couple of years, the hybrid powertrain has also come up as an important element. Recently, the production of powertrain system has become a crucial part for the automotive and other vehicles sectors. The manufacturers are mainly concentrating on the competitiveness by producing the effective and efficient performance.
Since 2014, the automotive industry has witnessed drastic change in the sales of new vehicles. Experiencing the huge demand for passenger cars and other vehicles is expected to drive the automotive powertrain system market. Additionally, the growing demand for automated transmission in powertrain system and growing trend of fuel efficient vehicles with low emission, is anticipated to fuel the market demand for powertrain system. Moreover, the growing awareness towards of eco-friendly powertrain system, technological advancements and stringent government regulations on reducing emission, are projected to be the major driving factors. Despite these factors, the increasing production cost of powertrain system, and huge barriers for new entrants could hinder the market growth for automotive powertrain system.
For the purpose of this study, the global automotive powertrain system market has been divided on the basis of component, engine type, vehicle type and region.
Based on components, the market has been segmented as engine, transmission, differentials, drive shafts and others. Among these components, engine and transmission are expected to dominate the market followed by differentials and drive shafts. Based on engine type, the market has been segmented as gasoline engine and diesel engine. Where, the gasoline engine is expected to lead the market followed by diesel engine. Based on vehicle types, the market has been segmented as passenger vehicles and commercial vehicles. However, the increasing sales of passenger cars is expected to dominate the passenger car segment during the forecast period.
Region wise, the global automotive powertrain system market has been segmented as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific has accounted for the largest market share, in 2016, followed by North America and Europe. In Asia Pacific, countries such as China, South Korea, Japan and India are the major markets of powertrain system. In Europe and North America, policies regarding higher fuel efficiency and low emission, have become the major growth driver. Europe, has been witnessing a rise in the sales of new vehicles, which has augmented the demand for automotive powertrain systems, here. Also, Germany, UK and France being the leading countries in Europe, has fuelled the growth of the market. Asia Pacific has registered the fastest growing economy in the global market.
The prominent players in the automotive powertrain system market include 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).
For More News Visit:
https://www.marketwatch.com/press-release/automotive-powertrain-systems-market-2018-global-growth-size-trends-share-competitive-analysis-opportunities-leading-players-and-regional-forecast-to-2023-2018-12-13
http://www.digitaljournal.com/pr/4100119
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