Summary – A new market study, “Powertrain And Powertrain Parts Global Market Report 2020 Markets Covered: 1) By Components: Engine; Transmission; Drive Shafts; Differentials; Final Drive; 2) By Technology: Hybrid; Automated; 3) By Vehicle Type: Passenger Car (PC); Commercial Vehicle (CV); Off-Road Vehicles; Construction Equipment; Defence Vehicles; Agricultural Vehicles Companies Mentioned: Ford Motor Company; General Motors Company; Volkswagen AG; ZF Friedrichshafen AG; Delphi Technologies”has been featured on WiseGuyReports.
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The global powertrain and powertrain parts market was worth $607.1 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 8.76% and reach $849.38 billion by 2023.
The powertrain and powertrain parts market covered in this report is segmented by components into engine, transmission, drive shafts, differentials and final drive. It is segmented by technology into hybrid and automated and by vehicle type into passenger car (PC), commercial vehicle (CV), off-road vehicles, construction equipment, defense vehicles, and agricultural vehicles.
The powertrain and powertrain parts market consist of sales of powertrain and powertrain parts and related services. The powertrain refers to a system that converts power of the engine into vehicle's movement. The powertrain parts include the engine, transmission, the driveshaft, differentials, and axles among others. The vehicle's performance and efficiency are defined by its powertrain system and its related parts.
The powertrain and powertrain parts market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Asia Pacific was the largest region in the powertrain and powertrain parts market in 2019.
Powertrain and powertrain parts manufacturers are increasingly investing towards the development of new engine management and optimization technology for powertrains. Advance powertrain systems are being developed to increase the efficiency of the engine and reducing fuel combustion. The popularity of electric vehicles has resulted in the manufacturers of powertrain and powertrain parts to invest in powertrains suitable for these electric vehicles. Following the trend, TATA motors in 2019, announced its new powertrain using Ziptron technology to power all its electric cars. The electric vehicles with Ziptron technology will have a range of up to 250kms.TATA plans to launch its first electric car equipped with new powertrain system in Q4FY20.
The powertrain and powertrain parts market is driven by the increasing demand for improved fuel efficiency. The amount of fuel consumed depends on the engine, the type of fuel used, and the efficiency with which the output of the engine is transmitted to the wheels. The powertrain system transmits the engine energy to the wheels of the vehicle and helps in reducing the speed of the engine to save fuel. According to a survey by Consumer Reports in 2018, 85% of American adults demanded that automakers should continue to improve fuel economy for all types of vehicles. The need to increase the fuel efficiency promotes the development of new powertrain systems that are economical and more fuel efficient.
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The slow growth in the automobile manufacturing market is expected to limit the growth of the powertrain and powertrain parts market. Automobiles require powertrain and powertrain parts to function and slow growth of the industry restricts the demand for powertrain and powertrain parts. According to the International Monetary Fund, car sales are likely to fall in 2021 by 5% to 10% in EU (European Union) whereas by 9% to 15% in the USA. The report also suggests that the auto sector represented 20% of 2018's slowdown in GDP and 30% of the slowdown in global trade. According to the China Passenger Car Association, in August 2019, the sales of sedans, sport utility vehicles, minivans and multipurpose vehicles fell 9.9% from a year earlier to 1.59 million units. Due to the slow growth of automobile manufacturing sector in economies like India and China, the consumers are holding purchase of powertrain and powertrain systems thus lowering the growth of the market.
In 2019, MAHLE Powertrain Ltd, a UK based provider of internal combustion engine (ICE) and electrical powertrain, acquired ZG-Zahnräder und Getriebe GmbH for an amount undisclosed. Through this acquisition, MAHLE aims to optimize its internal combustion engine (ICE) while focusing on new developments in powertrain manufacturing. ZG-Zahnräder und Getriebe GmbH, founded in 2008, is a German based provider of powertrain engineering and gearing technology.
Major players in the market are Ford Motor Company, General Motors Company, Volkswagen AG, ZF Friedrichshafen AG, Delphi Technologies, Toyota Motor Corporation, JTEKT Corporation, Allison Transmission, BorgWarner Inc., and Hyundai Motor Company.Powertrain And Powertrain Parts Global Market Report 2020 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global powertrain and powertrain parts market.
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Description:
Where is the largest and fastest growing market for the powertrain and powertrain parts ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Powertrain And Powertrain Parts market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider powertrain and powertrain parts market, and compares it with other markets.
• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market and forecasting the future. Drivers and restraints looks at the external factors supporting and controlling the growth of the market.
• Market segmentations break down market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers all the regions, key developed countries and major emerging markets. It draws comparisons with country populations and economies to understand the importance of the market by country and how this is changing.
• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section highlights the likely future developments in the market and suggests approaches companies can take to exploit this.
• The powertrain and powertrain parts market section of the report gives context. It compares the powertrain and powertrain parts market with other segments of the powertrain and powertrain parts market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, powertrain and powertrain parts indicators comparison.
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Scope
Markets Covered: 1) By Components: Engine; Transmission; Drive Shafts; Differentials; Final Drive; 2) By Technology: Hybrid; Automated; 3) By Vehicle Type: Passenger Car (PC); Commercial Vehicle (CV); Off-Road Vehicles; Construction Equipment; Defence Vehicles; Agricultural Vehicles
Companies Mentioned: Ford Motor Company; General Motors Company; Volkswagen AG; ZF Friedrichshafen AG; Delphi Technologies
Countries: Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA and Australia
Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Time series: Five years historic and forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, per capita expenditure.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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