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Automotive Powertrain Systems Industry: 2018 Global Market Size, Share, Trends
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Global Automotive Powertrain Systems Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Automotive Powertrain systems will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2027).
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).and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Automotive Powertrain systems Market.
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Automotive powertrain system is one of the important part of automotive architecture that transmits power from engine to the axle. The powertrain system consists of engine, transmission, drive shafts, differentials and other components. The overall performance of vehicle is depends on the efficiency of each components in powertrain system. In recent years, the hybrid powertrain transmission system has become important part of automotive industry. Other advanced powertrain technologies to improve overall fuel efficiency are autonomous driving, automated powertrain and connected car technologies. The major driving factors for automotive powertrain system are stringent government regulations on reducing emissions, growing awareness of eco-friendly powertrain system and technological advancement. However, the increasing production cost of powertrain systems system acts as a barrier for the growth of automotive powertrain systems market.
The new automotive powertrain technologies will create new opportunities for manufacturers and suppliers. The manufacturers are building technological capability in order to implement new technologies on powertrain system. However, to build these in-house capabilities will may take longer time as expected by regulators or OEMs. The manufacturers are taking technology acquisition or technology transfer path to shorten the time span of building in-house capabilities. Generally, the majority of revenue of automotive component industry comes from net sales of powertrain system. Similarly, the dependence of the automotive industry is largely depends on the growth of automotive powertrain system market.
Multinational companies such as Toyota Motor Corporation and General Motors Pvt ltd, has leapfrog in powertrain technologies. The leapfrogging in powertrain technology has push the market towards the high end vehicles. The consumers are become aware of hybrid and electric technology. The increase in purchasing power of consumers will lead to an increase in use of electric and hybrid cars. The automotive industry as a whole is a capital intensive industry. The dynamic business environment and cut throat competition in the market constantly requires influx of capital to update their technology to cope with increasing incidence of customization by the consumers. Development of advanced powertrain technologies require constant capital investment in research & development. Initially manufacturers offered advanced powertrain transmission system to the niche market. In the current scenario, manufacturers are pushing for advanced powertrain system at affordable rates in order to acquire a greater market share than their competitors.
Industry/ Innovation/ Related News: March, 2018 – BorgWarner broadens Powertrain - Component portfolio. The broaden portfolio will improve the overall sales in powertrain business. BorgWarner wants customers to know its overall portfolio includes products for vehicles with traditional gasoline or diesel internal-combustion engines, hybrids or powertrains with battery-electric drives. February, 2018 – Toyota Motor Corporation developed a new continuously variable transmission (CVT) based on the Toyota New Global Architecture (TNGA). October, 2017 – Valeo announces the acquisition of FTE Automotive. The acquisition will help to strengthen the Valeo’s Powertrain Systems business.
Automotive Powertrain systems Market Segmentation - The Global Automotive Powertrain systems Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding; Segmentation by Component: Engine, Transmission, Differentials, Drive Shafts and Others. Segmentation by Engine Type: Gasoline and Diesel. Segmentation by Vehicle Type: Passenger vehicle, Commercial vehicle. Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Automotive Powertrain systems Market Regional Analysis - Asia-Pacific market is dominating the market of automotive powertrain systems market due to growth in automotive sector. Development of automotive manufacturing industries in developing economies such as China and India are driving the market for automotive powertrain systems. The market in the developing countries is largely driven by economic growth and ongoing industrialization, which helps in production of motor vehicles and other manufacturing output. North America is referred to as the second-largest automotive powertrain systems market due to factors such as policies regarding higher fuel efficiency and low emission, have fuelled the demand for vehicles in the country.
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