The global Automotive Powertrain Market size is expected to reach USD 1,125.66 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 11.6% from 2021 to 2025. The increasing demand for environment-friendly vehicles and increasingly stringent government regulations regarding vehicular emission are expected to favor the demand for automotive powertrains in the market. Moreover, technological advancements in powertrain systems to enhance the vehicle's efficiency are anticipated to boost market growth prospects over the forecast period.
The adoption rate and pace of evolution of automotive
powertrain vary across regions according to purchase subsidies, regulatory
differences, road pricing, fuel taxation policy, state support, and consumer
preferences. In Europe and countries such as China, South Korea, and Japan,
stringent regulations are expected to make OEMs shift their focus on
electrified powertrain options. Other significant factors that constitute the
evolution of powertrain include developing charging infrastructure in different
regions globally.
Increasing vehicle sales and the growing adoption of
automated transmission vehicles in emerging countries such as India, China,
Indonesia, Japan, and Brazil, are expected to drive the market. The substantial
rise in the purchasing power of consumers has increased the demand for
state-of-the-art motor vehicles, driving the demand for upgraded systems. The rising
use of All Wheel Drive in SUVs in emerging regions is also expected to support
the growth of the powertrain market. The growing demand for AWD-equipped
vehicles in the Asia Pacific region is expected to boost the growth of the
all-wheel-drive system market.
The COVID-19 pandemic has hampered the growth
prospects of several industries in 2020; powertrain manufacturers are facing a
year-on-year decline in unit volumes sales and revenues. For instance,
BorgWarner Inc., a prominent market player in the electric powertrain market,
witnessed a decrease in the e-Propulsion & Drivetrain business segment.
However, the demand for vehicles with upgraded safety features is likely to
increase post-pandemic. Since automotive powertrain plays a vital role in automobiles,
the market could regain momentum. Furthermore, despite the pandemic, the
growing demand for electric vehicles is anticipated to boost the demand for
automotive powertrains.
Related Press Release@ Automotive Powertrain Market Report
Automotive Powertrain Market
Report Highlights
- In terms of vehicle type, the commercial vehicle segment
is expected to expand at the highest CAGR of around 11.7% over the
forecast period. This can be attributed to the increasing demand for a
unified supply chain network connecting multiple transportation modes,
including freight rail, air, and express delivery services, maritime
transport, and truck transport
- In terms of propulsion type, the ICE segment dominated the market
in 2020 and is anticipated to value at more than USD 902.91 billion by
2028. This can be attributed to the price difference between ICEs and EVs
and inadequate charging infrastructure
- The Asia Pacific regional market held the dominant market share in
2020, with the China market being a significant contributor. China remains
the largest manufacturer of automobiles and automotive markets across the
globe. In 2020, China ranked first in terms of the production of passenger
cars globally, which stood at nearly 21 million
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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