Automotive Powertrain Market

Global Automotive Powertrain Market Size (2023 to 2028)

The global automotive powertrain market is expected to be valued at USD 944.49 billion in 2023 and is anticipated to reach a valuation of USD 1,398.72 billion by 2028, growing at a CAGR of 8.17% from 2023 to 2028.

The powertrain contains every key segment of a vehicle motor where the burning of fuel happens. These parts comprise a motor, transmission, differentials, drive shafts, and final drive. This kinetic energy is created by the powertrain used to move the vehicle.

MARKET DRIVERS:

The rigid outflow standards, rising interest in automated transmission, and developing patterns of downsizing motors are the key variables driving the automotive powertrain market comprehensively. Developing requirements for solace, security, and execution is turning into a significant worry in the vehicle business. So as to create power in the motor, fire up acceleration, gain footing, and the high towing limit, makers are progressively coordinating powertrains in the vehicles. Moreover, the makers in the vehicle business are additionally concentrating on fusing the powertrain sensors and actuators in the vehicle for upgraded transmission framework. An increase in demand for upgraded transmission frameworks will keep on energizing interest in vehicle powertrains comprehensively. The burden of government guidelines with respect to the discharge of carbon dioxide will additionally keep on affecting the development of the global vehicle powertrain market decidedly.

MARKET RESTRAINTS:

In any case, low client readiness to pay extra for a feasible powertrain framework and high speculation costs related to the framework are anticipated to hamper the global automotive powertrain market. Further, severe emanation standards across different nations can go about as a test for the demand.

REPORT COVERAGE:

This research report on the global automotive powertrain market has been segmented and sub-segmented into the following categories.

Global Automotive Powertrain Market - By Vehicle Type:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

In view of vehicle type, the light commercial vehicle portion is deemed to produce noteworthy incomes, recording an estimation of over US$ 30 Mn. Moreover, the moderate-sized vehicle type fragment and the compact vehicles portion are relied upon to enlist a critical CAGR till 2026.

Global Automotive Powertrain Market - By Drive Type:

• Front-Wheel Drive Powertrain
• Rear-wheel drive (RWD) Powertrain
• All-Wheel Drive (AWD) Powertrain

Based on position type, the all-wheel drive portion is relied upon to speak to the most elevated income development, representing an estimation of over US$ 80 Mn before the finish of 2026. Additionally, the all-wheel drive position type is supposed to enlist a powerful CAGR throughout the conjecture time frame.

Global Automotive Powertrain Market - By Type:

• Gasoline
• Diesel

By powertrain type, the gas segment is relied upon to observe a huge income development, representing an estimation of over US$ 100 Mn before the end of 2026. On the opposite, the battery electric vehicle powertrain type portion is assumed to enroll the most noteworthy CAGR over the conjecture time frame. Attributable to these variables, component makers are implementing hybrid powertrains so as to diminish fuel use in vehicles.

Global Automotive Powertrain Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

North America is anticipated to be the predominant area for the powertrain business as the locale is centered on extravagance and solace, prompting the appropriation of AWD vehicles over FWD and RWD in this area. The surge in interest in automated transmission and mounting vehicle deals fuels the Automotive Powertrain Market in this vicinity. Level 1 provider has a solid presence in this locale. Similarly, vehicle producers, such as Toyota, Hyundai, and Honda, additionally have a place in this area as the automotive powertrain market pioneers in the vehicle section all-inclusive. With outflow rules getting stricter in nations, for example, China, Japan, and India, OEMs in this area are attempting to diminish the general load of the vehicle. Because of the above variables, the APAC locale is relied upon to show the most noteworthy development rate overestimated period, further boosting the Automotive Powertrain Market.

KEY MARKET PLAYERS:

Some of the key players in the global automotive powertrain market include Aisin Seiki Co. Ltd., General Motors Company, Borgwarner Inc., Ford Motor Company, Jtekt Corporation, Hyundai Motor Company, Toyota Motor Corporation, GKN PLC and ZF Friedrichshafen AG

RECENT HAPPENINGS IN THE MARKET:

•  Aisin Seiki Co., the gigantic Toyota Group provider of transmissions and powertrain segments, is looking long haul, and the organization doesn't really like what it sees.
• Aisin Seiki Co., Ltd. (AISIN) and DENSO Corporation (DENSO) reported they have officially consented to shape another organization to create and sell driving modules utilized for electric vehicles.
• Chinese carmaker Great Wall Motor Company Ltd (GWM) said it will purchase General Motors (GM) vehicles and motor plants in Rayong, Thailand. This comes a month after GWM reported obtaining the American automaker's manufacturing office in Talegaon, close to Pune.
• With most vehicle markets across the world, including India, expected to shift towards electric vehicles (EVs) by 2030, BorgWarner, a company based in the USA, is preparing itself to meet the advancing necessities of vehicle producers for the electric powertrain.
• BorgWarner's securing of Delphi Technologies declared in Detroit and London, would consolidate the assets of two powertrain tech pioneers as both endeavors to move from a world dominated by internal combustion to one that is electrified.
• BorgWarner, a pioneer in cutting-edge propulsion frameworks, is demonstrating its zap skill with the improvement of its Corporate Advanced Engineering (CAE) gathering's first high-voltage, all-electric exhibit vehicles. The new test stage, made from the off-road Ariel Nomad, gives the designing group and clients an extensive perspective on BorgWarner's advancements, just like their exhibition.