The global automotive powertrain systems market was valued at USD 530 billion in 2017 and is anticipated to grow at a CAGR of 6.1% during the forecast period.
The automotive powertrain system generates and transmits power to the road, and enables movement of vehicles. The automotive powertrain system includes the engine, transmission, the driveshaft, differentials, and axles, which are mechanical components required to propel vehicles. The engine is a major component of the automotive powertrain system. The engine produces power and torque through controlled explosions in the cylinders, which forces pistons to move, causing the crankshaft to rotate quickly. The transmission is responsible for translating the rotation of engine into usable force. Market players are increasingly developing advanced powertrain systems to improve efficiency, improve functionality, reduce weight and cost owing to increasing regulations regarding vehicular emissions and fuel efficiency.
The growing automotive industry, and increasing demand for automatic transmissions drive the growth of the Automotive Powertrain Systems market. The introduction of government regulations regarding carbon emissions and fuel efficiency increases the demand for automotive powertrain systems across the globe. The rising popularity of downsized engines, and increasing demand for passenger cars from emerging economies has accelerated the adoption of automotive powertrain systems. The growing demand for electric vehicles further boosts the growth of the automotive powertrain systems market. The increasing awareness regarding eco-friendly powertrain system, and technological advancements also increase the demand of automotive powertrain systems.
Asia-Pacific Automotive Powertrain Systems Market Share, By Vehicle Type, 2017 - 2026
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The global Automotive Powertrain Systems market is segmented on the basis of drive type, vehicle type, fuel type, and geography. Based on the drive type, the market is segmented into Front-Wheel Drive Powertrain System, Rear-Wheel Drive Powertrain System and All-Wheel Drive Powertrain System.
The vehicle types include passenger cars, and commercial vehicles. The passenger cars segment dominated the global automotive powertrain systems market in 2017. The rising demand for luxury vehicles, and growing demand of passenger vehicles from emerging economies boosts the growth of this segment. The increasing need for fuel efficiency, and growing preferences of consumers towards comfortable and enhanced driving experience would increase the demand of automotive powertrain systems from this segment.
The fuel type segment is divided into gasoline, diesel, and others.
The automotive powertrain systems market comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. Asia-Pacific accounted for the highest share in the global automotive powertrain systems market owing to growing demand of passenger cars in the region, and technological advancements. The governments in the region have introduced stringent regulations regarding vehicular emissions, thereby supporting the growth of the market in the region.
The vendors in the market are launching new products to meet the growing customer needs. In addition, the leaders in the market are acquiring and collaborating with top companies in the market to enhance their offerings in the market and expand their customer base. The automotive powertrain systems market is highly competitive with the presence of a large number of small and large vendors. The leading players in the market include Ford Motor Company, Hyundai Motor Company, Volkswagen AG, ZF Friedrichshafen AG, Toyota Motor Corporation, General Motors Company, Aisin SeikiCo., Ltd, Delphi Automobile, Denso Corporation, and GKN PLC among others.