Global automotive powertrain systems market is predicted to accumulate approximately USD 892 billion by the year 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
Key findings of the automotive powertrain systems market report are highlighted below:
- The passenger vehicle market segment led the global market in the year 2017.
- In terms of regional hierarchy, the Asia-Pacific region amassed the highest share in the worldwide automotive powertrain system market in the year 2017.
As per the study, the considerable hike in demand for commercial and passenger vehicles, and the growth in the worldwide automotive business sphere augments the requirement of automotive powertrain systems. The report suggests that the automatic transmission demand has increased exponentially, which in turn is promoting market growth. Also, the escalating trend of small sized engines further amplifies the product adoption.
In addition to the above-mentioned factors, the adoption of strict government regulations pertaining to carbon dioxide emissions has motivated industry partakers to launch eco-friendly and efficient automotive powertrain systems. Emerging new markets, evolving customer demographics, as well as technological enhancements would offer substantial development opportunities to the worldwide automotive powertrain system market over the ensuing years, cites the report.
Speaking of the geographical outlook, the Asia-Pacific regional market accounted for the biggest share in the global market in the year 2017. It is noteworthy to mention that the governments in this region have introduced strict regulations with respect to vehicular emissions due to burgeoning environmental concerns. The surging demand for vehicles in the region, as well as technological enhancements, would expedite the regional demand for these systems over the estimated period. Moreover, the rising economic growth and growing demand from nations such as India and China further elevate the product adoption in the APAC region. The massive proliferation of electric automotives in the APAC market further advances the deployment of automotive powertrain systems.
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The distinguished organizations operating in the worldwide automotive powertrain systems market include Hyundai Motor Company, Volkswagen AG, Toyota Motor Corporation, ZF Friedrichshafen AG, Ford Motor Company, General Motors Company, Delphi Automobile, Aisin SeikiCo., Ltd., GKN PLC, and Denso Corporation. These distinguished organizations adopt business tactics such as launching novel products and collaborating with other industry leaders to innovate and introduce new products to suffice the surging needs and requirements of customers.
The recent study also provides a detailed analysis of the market in terms of ecosystem analysis, market dynamics, market opportunity analysis, industry snapshot, PEST Analysis (2016), value chain analysis, and industry trends over the projected timeframe.
As per the study, the automotive powertrain systems market is bifurcated based on drive type, fuel type, geography, and vehicle type. The various drive types included in the report are all-wheel drive, rear-wheel drive, and front-wheel drive. In terms of vehicle type, the market is fragmented into passenger cars and commercial vehicles. Depending on the fuel type the market is further classified into gasoline and diesel segment.