Powertrain Market Dynamics and Forecast From 2014 - 2020

Posted by Katheine Silway on April 12th, 2021

A report from Transparency Market Research, titled “Global Powertrain Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” provides the latest market intelligence. According to the report, the global powertrain market is projected to expand at a CAGR of 5.30% during the forecast period from 2014 to 2020. In 2013, the global powertrain market was worth around US5.6 bn and by 2020, the market is projected to be worth US4.6 bn.

Major Key Players of the Powertrain Market are:
Valeo, Magna International Inc., Denso Corporation, General Motors Company, and Ford Motor Company.

It is worthy of noting here some of the factors that are shaping up the future of the global powertrain market. These include the following:

• Engine downsizing and automated transmission are the next big things in the market because for reasons of environmental conservation, need for reducing fuel emission is only going to increase in the coming few years. Besides government across the globe are trying to cut down carbon dioxide emission, helping the growth of global powertrain market over the forecast period.
• Demand for high traction, towing capacity and acceleration is also underscoring growth of global powertrain market over the forecast period from 2014 to 2020. The reason behind this growth is the need to address challenges posed by rugged terrains and poor weather conditions.