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Power Train And Power Train Parts Global Market Report 2022

Power Train And Power Train Parts Global Market Report 2022

  • May 2022
  • 175 pages
  • ID: 6277712
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the powertrain and powertrain parts market are Ford Motor Company, General Motors Company, Volkswagen AG, ZF Friedrichshafen AG, Delphi Technologies, Toyota Motor Corporation, JTEKT Corporation, Allison Transmission, BorgWarner Inc., and Hyundai Motor Company.

The global power train and power train parts market is expected to grow from $348.3 billion in 2021 to $384.79 billion in 2022 at a compound annual growth rate (CAGR) of 10.5%. The market is expected to grow to $551.13 billion in 2026 at a compound annual growth rate (CAGR) of 9.4%.

The powertrain and powertrain parts market consists of sales of powertrain and powertrain parts and related services.The powertrain refers to a system that converts the power of the engine into a vehicle’s movement.

The powertrain parts include the engine, transmission, driveshaft, differentials, and axles among others. The vehicle’s performance and efficiency are defined by its powertrain system and its related parts.

The main types of powertrain and powertrain parts are passenger car (PC), commercial vehicle (CV), off-road vehicles, construction equipment, defense vehicles, and agricultural vehicles.Commercial vehicles refer to vehicles that are used for commercial purposes.

The technologies involved are hybrid and automated. The components of powertrain and powertrain parts are engine, transmission, driveshafts, differentials, and final drive.

Asia Pacific was the largest region in the power train and powertrain parts market in 2021.Western Europe was the second largest market in power train and powertrain parts market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The powertrain and powertrain parts market is driven by the increasing demand for improved fuel efficiency.The amount of fuel consumed depends on the engine, the type of fuel used, and the efficiency with which the output of the engine is transmitted to the wheels.

The powertrain system transmits the engine energy to the wheels of the vehicle and helps in reducing the speed of the engine to save fuel.According to a survey by Consumer Reports, 85% of American adults demanded that automakers should continue to improve fuel economy for all types of vehicles.

The need to increase fuel efficiency promotes the development of new powertrain systems that are economical and more fuel-efficient.

The slow growth in the automobile manufacturing market is expected to limit the growth of the powertrain and powertrain parts market.Automobiles require powertrain and powertrain parts to function and the slow growth of the industry restricts the demand for powertrain and powertrain parts.

According to the International Monetary Fund, car sales fall in 2021 by 5% to 10% in the EU (European Union) whereas by 9% to 15% in the USA.The report also suggests that the auto sector represented a 20% slowdown in GDP and 30% of the slowdown in global trade.

According to the China Passenger Car Association, in August 2019, the sales of sedans, sport utility vehicles, minivans, and multipurpose vehicles fell 9.9% from a year earlier to 1.59 million units. Due to the slow growth of the automobile manufacturing sector in economies like India and China, the consumers are holding purchase of powertrain and powertrain systems thus lowering the growth of the market.

Powertrain and powertrain parts manufacturers are increasingly investing in the development of new engine management and optimization technology for powertrains.Advance powertrain systems are being developed to increase the efficiency of the engine and reduce fuel combustion.

The popularity of electric vehicles has resulted in the manufacturers of powertrain and powertrain parts investing in powertrains suitable for these electric vehicles.Following the trend, TATA motors in 2019, announced its new powertrain using Ziptron technology to power all its electric cars.

The electric vehicles with Ziptron technology will have a range of up to 250kms.TATA plans to launch its first electric car equipped with a new powertrain system in Q4FY20.

In 2019, MAHLE Powertrain Ltd, a UK-based provider of the internal combustion engine (ICE) and electrical powertrain, acquired ZG-Zahnräder und Getriebe GmbH for an amount undisclosed.Through this acquisition, MAHLE aims to optimize its internal combustion engine (ICE) while focusing on new developments in powertrain manufacturing.

ZG-Zahnräder und Getriebe GmbH, founded in 2008, is a German-based provider of powertrain engineering and gearing technology.

The countries covered in the power train and powertrain parts market include Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia.

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