The global automotive powertrain market size was valued at USD 739.42 billion in 2021 and is expected to hit USD 1,264.75 billion by 2030, growing at a CAGR of 6.1% between 2022 and 2030.
|Market||Automotive Powertrain Market|
|Market Size||USD 1,264.75 Billion by 2030|
|Growth Rate||CAGR of 6.1% From 2022 and 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2022 to 2030|
|Segments Covered||Position, Engine, Vehicle|
|Regional Scope||North America, APAC, Europe, Latin America, MEAN, Rest of the World|
|Companies Mentioned||Aisin Seiki Co. Ltd., Ford Motor Company, Borgwarner Inc., General Motors Company, Hyundai Motor Company, GKN PLC, Jtekt Corporation, Volkswagen AG, Toyota Motor Corporation
Powertrain is one of the important components for an automobile that produces power to drive the vehicle by transferring it to the wheels. Some of the main components of powertrain include transmission, engine, driveshaft, and differentials. The performance as well as efficiency of a vehicle depends on powertrain properties.
Government regulations supporting the advancement and technological development in powertrain systems along with rising demand for environment friendly vehicle are some of the prime factors that are likely to drive the market growth for automotive powertrain during the upcoming years. In addition, surge in the vehicle production particularly across developing nations are anticipated to further propel the automotive powertrain market during the forthcoming years. In 2020, China registered a rise of 5.7% in the car production reaching to 2.84 million units. Similarly, other Asian nations such as India, Japan, and South Korea are witnessing significant rise in the production of passenger cars owing to exponential rise in the demand.
Further, stringent regulation imposed by the governments of various countries particularly of the North America and Europe regions leads to spur the demand for higher quality powertrains that are light weight and helps to reduce the emission as well as improve fuel efficiency and vehicle performance. Rising rate of global pollution has forced several regions to take strict measure to protect the environment. This all initiatives help to reduce the rising rate of carbon dioxide and prevents the environment from global warming. Hence, the aforementioned factors are likely to propel the market growth for automotive powertrain over the forthcoming years.
Further, the introduction to automated transmission expected to surge the demand for automotive powertrain during the upcoming years. This is mainly because of its increasing demand in electric vehicles and hybrid vehicles. As the automotive market trend has witnessed a drastic shift towards automated cars and electric vehicles that impels the growth of automated transmission as well during the forecast timeframe.
However, COVID-19 outbreak in the year 2020 has disrupted the operation of automotive industry and impacted negatively on the automotive sales that hampered the growth of the industry. This in turn also impacted the market growth of automotive transmission during the COVID-19 struggling period. Nonetheless, the automotive industry likely to regain its pace over few upcoming years and hence recovering the market for automotive transmission.
Based on position, the global automotive powertrain market is classified into All-wheel Drive (AWD), Rear-wheel Drive (RWD), and Front-wheel Drive (FWD).
AWD captured the majority of revenue share in the year 2020 as well as estimated to grow at the highest rate during the forthcoming years. This is mainly attributed to the benefits offered by AWD over other positions that include RWD and FWD. The AWD system distributes the power and torque equally to all wheels particularly while turning a vehicle provides more grip along with traction. Further, increasing demand for high-end vehicles and luxury cars are likely to prosper the growth of AWD in the automotive powertrain market during the upcoming period.
On the basis of engine type, gasoline engines capture majority of market revenue share in the year 2020 and expected to grow at a steady pace during the forecast timeframe. However, other engine types that include electric and hybrid powered engines are gaining prominent pace owing to rapid rise in the sale of electric vehicles.
By geography, the global automotive powertrain market is studied for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The Asia Pacific is the major revenue contributor for the year 2020 and anticipated to maintain the same trend over the analysis period. This is mainly attributed to the increasing sale of vehicles along with surge in demand for automated transmission in Asian countries that include India and China. Besides this, rising purchasing power of consumers in the developing nations is likely o augment the demand for state-of-the-art vehicles that in turn propels the demand for upgraded powertrains in the vehicles. Furthermore, Chinese government has introduced several energy saving programs for the automotive industry such as new energy vehicle development program that has significantly transformed the automotive industry in the Asia Pacific region.
The global automotive powertrain industry is highly competitive owing to rising investments for research & development by the major industry participants such as Aisin Seiki, Tata Motors, BMW, CNH Industries, and many others. For instance, in February 2018, BMW introduced its new line of production for powertrains that include i-lineup for Roadster edition of the i8 as well as the i3s powered by electric and plug-in hybrid powertrains.
Some of the prominent players covered under the global automotive powertrain market report include Aisin Seiki Co. Ltd., Ford Motor Company, Borgwarner Inc., General Motors Company, Hyundai Motor Company, GKN PLC, Jtekt Corporation, Volkswagen AG, Toyota Motor Corporation, and ZF Friedrichshafen AG among others.
The global automotive powertrain market research report classifies the market as follows:
By Engine Type
By Vehicle Type
By Regional Outlook
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