Automotive Powertrain Systems Market Size Worth USD 4,377.24 Billion by 2034 | CAGR: 15.5%

The automotive powertrain systems market size is expected to reach USD 4,377.24 billion by 2034, according to a new study by Polaris Market Research. The report “Automotive Powertrain Systems Market Size, Share, Trends, Industry Analysis Report: By Propulsion Type (Internal Combustion Engine and Electric Vehicle), Vehicles Type, and Region (North America, Europe, Asia Pacific, Latin America, the and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.                                   

The automotive powertrain systems market is growing due to the expansion of manufacturing capacity worldwide. The heightened production efforts by automotive manufacturers to meet the escalating demand for vehicles have led to an increased need for dependable and high-performance powertrain systems. The improved manufacturing capacity enables higher production volumes of automotive powertrain components, resulting in economies of scale and more cost-effective solutions. Additionally, urbanization also plays a crucial role as cities increasingly adopt low-emission zones and promote sustainable transportation options. This trend encourages consumers to opt for vehicles with advanced powertrains that offer better fuel economy and lower emissions, leading to the automotive powertrain systems market growth during the forecast period.

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Incorporating hybrid powertrains enables the utilization of both internal combustion engines (ICE) and electric motors, resulting in increased flexibility and improved fuel efficiency. Advanced features such as regenerative braking recover energy normally dissipated during braking, enhancing overall efficiency. The emergence of advanced driver-assistance systems (ADAS) is impacting powertrain technology, as functionalities such as adaptive cruise control and automated driving necessitate flawless harmonization between powertrains and vehicle control systems. Therefore, advancements in the technology of braking systems are driving the growth of automotive powertrain systems.

Automotive Powertrain Systems Market Report Highlights

• By vehicle type analysis, the commercial vehicles segment is anticipated to experience substantial growth with a significant CAGR in the global market due to the increase in the production of vans, trucks, and buses.
• By propulsion type insights, The electric vehicle segment is estimated to grow at a significant CAGR during the forecast period due to the increasing consumer demand for sustainable transportation.
• In 2024, Asia Pacific dominated the automotive powertrain systems market, owing to the presence of automotive manufacturing hubs in countries such as China, Japan, South Korea, and India. Moreover, the expanding middle-class population, rapid urbanization, and increased vehicle ownership rates are contributing to the market expansion in the region.
• The automotive powertrain systems market in India is projected for substantial growth due to increased production in the automotive industry in the country.
• North America is projected to register a substantial CAGR from 2025 to 2034 due to the rapid proliferation and rising adoption of electric vehicles in the region.
• The key market players are BorgWarner Inc., Continental AG, Magna International Inc., Marelli Holdings Co. Ltd., Mitsubishi Electric Corporation, NIDEC CORPORATION, Robert Bosch GmbH, Schaeffler AG, ZF Friedrichshafen AG, and VALEO.

Polaris Market Research has segmented the automotive powertrain systems market report based on propulsion type, vehicle type, and region:

By Propulsion Type Outlook (Revenue – USD Billion, 2020–2034)

• Internal Combustion Engine
  • Gasoline
  • Diesel
  • Natural Gas Vehicle
• Electric Vehicle
  • Battey Electric Vehicle (BEV)
  • Plug-in Hybrid Electric Vehicle (PHEV)

By Vehicle Type Outlook (Revenue – USD Billion, 2020–2034)

• Passenger Cars
• Commercial Vehicles

By Regional Outlook (Revenue – USD Billion, 2020–2034)

• North America

• US
• Canada

• Europe

• Germany
• France
• UK
• Italy
• Spain
• Netherlands
• Russia
• Rest of Europe

• Asia Pacific

• China
• Japan
• India
• Malaysia
• South Korea
• Indonesia
• Australia
• Vietnam
• Rest of Asia Pacific

• Middle East & Africa

• Saudi Arabia
• UAE
• Israel
• South Africa
• Rest of the Middle East & Africa

• Latin America

• Mexico
• Brazil
• Argentina
• Rest of Latin America

Automotive Powertrain Systems Report Scope