Automotive Powertrain Systems Market – Overview:
Remarkable growth has repeatedly highlighted the expansion arc of automotive powertrain systems. Market Research Future, a firm which specializes in market reports related to the automobile sector among others, published in its recent report on Automotive Powertrain Systems Market Research Report - Global Forecast to 2023 that is expected to grow at a compelling CAGR of 5.7%. The powertrain market is currently growing at a quick pace due to a multitude of developments in the sector.
Powertrain systems are the spine of an automobile. They contain all the vital components that ensure optimal functioning of automobiles. As technology progresses and developments are made, the automotive sector also is making headways subsequently along this line of development. This particular technology trend has been important to the expansion of automotive powertrain systems market. Owing to increase in the demand for automobiles due to population growth, the powertrain segment has also invariably grown with rise in demand.
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Strong focus on increasing the fuel efficiency due to environmental factors has also spurred the powertrain industry to initiate improvements in design and overall efficacy of various automobile types. Negative effects of fuel emissions are one of the major factors prompting demand growth of the sector. Steep cost of production of powertrains and massive barriers for new market players entry in the market can cause impediments to the growth of this sector.
Automotive Powertrain Systems Market - Competitive Analysis
With the entry of new industry players in the automotive powertrain systems market size segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
The prominent players in the automotive powertrain system market include Toyota Motor Corporation (Japan), General Motors Company (US), Hyundai Motor Company (South Korea), Aisin Seiki (Japan), Borgwarner (US), Ford Motor (US). Other key players in this segment are Delphi Automobile (UK), Magna Powertrain (US), Denso Corporation (Japan), GKN PLC (UK), Jtekt Corporation (Japan), and ZF Friedrichshafen (Germany).
Automotive Powertrain Systems Market – Segments
The global automotive powertrain system market has been divided on the basis of component, engine type, vehicle type and region.
On The Basis Of Components: Engine, Transmission, Differentials, Drive Shafts and Others.
On The Basis Of Engine Type: Gasoline Engine and Diesel Engine.
On The Basis Of Vehicle Types: Passenger Vehicles and Commercial Vehicles.
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
Automotive Powertrain Systems Market - Regional Analysis
Region wise, the global automotive powertrain system market has been segmented as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific has accounted for the largest market share, in 2016, followed by North America and Europe. In Asia Pacific, countries such as China, South Korea, Japan and India are the major markets of powertrain system. In Europe and North America, policies regarding higher fuel efficiency and low emission, have become the major growth driver. Europe, has been witnessing a rise in the sales of new vehicles, which has augmented the demand for automotive powertrain systems, here. Also, Germany, UK and France being the leading countries in Europe, has fuelled the growth of the market. Asia Pacific has registered the fastest growing economy in the global market.
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