Global Automotive Powertrain Market – Introduction
Automotive powertrain is the unit that comprises diverse systems, ranging from the source of power generation and the overall transmission assembly to the tire of the vehicle. For a conventional vehicle, the powertrain comprises multiple components such as engine, transmission unit, differential, and shaft.
The global automotive powertrain market is anticipated to expand at a moderate pace during the forecast period; however, a significant shift in trend towards adoption of electric vehicles is likely to be witnessed during the forecast period.
Global Automotive Powertrain Market – Drivers
Market for automotive powertrain is driven by the production of vehicles and demand for aftermarket components of the power train unit.
Developments in technology, such as the introduction of electric and hybrid vehicles that comprise electric motor and battery in the powertrain, are likely to boost the market during the forecast period which is attributable to high cost of the powertrain battery.
High demand for four-wheel drive vehicles contributes to the expansion of automotive powertrain market, as four-wheel drive vehicles comprise higher number of components in their powertrain units such as power differentials and transfer case.
Rising stringency of emission norms across majority of developing and developed countries is boosting the emphasis on engine downsizing, which requires additional power boosters such as turbocharger and supercharger and other additional components. This, in turn, is expected to propel the automotive powertrain market.
Increasing preference for fast and powerful vehicles is anticipated to be key factor that is projected to boost the automotive powertrain market, as these vehicles comprise high capacity engine as well as other high strength powertrain components.
High dependence of the automotive powertrain market on vehicle production can be a restraining factor, as decline in production for vehicles, due to economic downturn, is expected to hamper the powertrain market
Local governments of majority high population urban areas across the globe are emphasizing on the adoption of public transport, which in turn is estimated to hinder the automotive powertrain market
Global Automotive Powertrain Market – Opportunities
Rising inclination toward electric vehicles is likely offer significant opportunity for the market players who have presence in manufacturing of electric vehicle drivetrains during the forecast period, thus development and production of components for hybrid and electric vehicle is expected to consolidate the position of that particular manufacturer in the automotive powertrain market
Asia Pacific to hold prominent share during forecast period
Asia Pacific is a prominent producer of automotive components across the globe and the region is an emerging market for electric vehicles. China and India are major producers of automotive components, and China is likely to lead the global production of electric vehicles, which is anticipated to drive the automotive powertrain market in China.
Europe is another prominent market for automotive powertrain due to the presence of a large number of automotive manufacturers, such as Volkswagen AG, BMW AG, and Daimler AG, who are leading manufacturers of luxury vehicles that comprise powerful, advanced powertrain units.
Global Automotive Powertrain Market – Competitive Landscape
Automotive powertrains comprise a large number of components and hence, the market comprises a large number of key players who hold a notable share of the automotive powertrain market. Some of the leading players in the market are:
Aisin Seiki Co., Ltd.
BorgWarner Inc.
GKN PLC
ZF Friedrichshafen AG
Robert Bosch GmbH
Showa Corporation
Cummins Inc.
Magneti Marelli S.p.A.
Continental AG
Schaeffler AG
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About the Author
Harshad Borde Joined: April 26th, 2019 Articles Posted: 526
