The global automotive powertrain market is projected to exceed over USD 650 billion by 2022 owing to increasing vehicle production combined with growing awareness regarding environmental pollution.
The automotive powertrain market is estimated to grow at a CAGR of over 5% from 2014 to 2022. The powertrain of any vehicle defines its safety, performance and comfort. The transmissions and engine are the prime components of a powertrain along with other key components such as torque/clutch converter, propeller/drive shaft, axles and differential.
Increasing demand for automated transmission and rising trend for engine downsizing which reduces fuel emission and consumption is projected to accentuate automotive powertrain market growth. Growing need for enhanced traction, high towing capacity and increased acceleration in vehicles for safe driving in order to pass through unfavorable terrain and poor weather conditions is expected to drive demand over the forecast period.
Stringent government regulations regarding the reduction of carbon dioxide emissions for preventing global warming are projected to boost sales. Owing to stringent fuel economy and emission norms, vehicle manufacturers are diverting towards engine downsizing with the assistance of turbochargers. Additionally, increasing consumption expenditure, high demand for automobiles and up-gradation of automobile system is expected to be the substantial drivers for industry growth.
To request a sample copy or view summary of this report, click the link below:
Advanced technologies such as combustion control improvements applied to internal combustion engine are anticipated to trigger growth. Further, need for enhanced driving dynamics has pushed the manufacturers to introduce systems catering to this demand in the present environment. Increasing development of advanced automobile features in emerging countries is anticipated to offer lucrative opportunities for the market growth.
However, low customer willingness to pay extra for sustainable powertrain system and high investment cost associated with the system is projected to hamper the automotive powertrain market. Further, stringent emission norms across various countries can act as a challenge for the demand.
On the basis of engine type the industry can be bifurcated into gasoline and diesel. Currently, gasoline engines have been adopted widely and are projected to be replaced by diesel engines owing to the increasing difference between the diesel and gasoline prices. Owing to these factors, component manufacturers are adopting hybrid powertrains in order to reduce fuel usage in vehicles.
See More Reports of This Category:
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.