Auto Components News

Automotive engine market size to grow by 14.23 million units from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics


NEW YORK, Jan. 17, 2023 /PRNewswire/ — The global automotive engine market size is estimated to increase by 14.23 million units between 2022 and 2027. However, the market’s growth momentum will decelerate at a CAGR of 3.43% during the forecast period – Request a sample report

Technavio has announced its latest market research report titled Global Automotive Engine Market 2023-2027

Global automotive engine market – Vendor analysis
Vendor offerings –

  • AB Volvo – The company offers automotive engines such as Volvo D11 engine, Volvo D13TC engine, and X15 engine.

  • BMW AG – The company offers automotive engines such as V8-cylinder engine, inline 6-cylinder engine, and 4-cylinder turbo engine.

  • Cummins Inc. – The company offers automotive engines such as F3.8 engine, X15 engine, and QST30 engine.

  • Dr. Ing. h.c. F. Porsche AG – The company offers automotive engines such as Type 935/76 engine.

  • For details on vendors and their offerings – Buy the report!

Vendor landscape –

The global automotive engine market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer automotive engines in the market are AB Volvo, BMW AG, Cummins Inc., Dr. Ing. h.c. F. Porsche AG, Eicher Motors Ltd., Ford Motor Co., General Motors Co, Honda Motor Co. Ltd, Hyundai Motor Co., MAHLE GmbH, Maruti Suzuki India Ltd., Mazda Motor Corp., Mercedes Benz Group AG, Mitsubishi Motors Corp., Renault SAS, Stellantis NV, Toyota Motor Corp., Trelleborg AB, and Yamaha Motor Co. Ltd. and others.

Vendors compete based on factors such as quality, price, service, brand image, distribution, and marketing. Moreover, major vendors are focusing on manufacturing automotive engines with low emissions. Thus, automotive engine manufacturers have been improving automotive engine technology to meet the growing demand for advanced vehicles. Such developments will drive the market’s growth during the forecast period.

Global automotive engine market – Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

Global automotive engine market – Segmentation assessment

Segment overview
Technavio has segmented the market based on type (in-line engine, V-type engine, and flat engine) and fuel type (gasoline and diesel engine).

  • The gasoline segment will grow at a significant rate during the forecast period. Passenger cars generally use gasoline-powered engines, as they emit fewer pollutants, create less vibration and noise, and are lightweight. Engine downsizing is another major factor propelling the demand for gasoline engines, which reduces the size of a gasoline engine when compared to a diesel engine. In addition, diesel-powered cars are more expensive than gasoline-powered passenger cars. These factors will fuel the growth of the market during the forecast period.

Geography overview
Based on geography, the global automotive engine market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive engine market.

  • APAC is estimated to account for 38% of the growth of the global market during the forecast period. China and India have the largest share of the automotive engine market in APAC in terms of production volume due to the presence of a large automotive production base. During the forecast period, low-cost manufacturers are expected to enter the market in APAC, especially in China, owing to the reduction in the prices of components and the availability of stable and advanced systems.

Download a sample report

Global automotive engine market – Market dynamics

Leading drivers – The high growth volume for the premium vehicle segment is driving the growth of the global automotive engine market. With changing customer preferences, the sales of performance, premium, and sport utility vehicles are expected to increase. The demand for SUVs has increased over the last four years. In addition, the demand for luxury vehicles is increasing in emerging markets such as China and India owing to stable economic conditions and rising consumer disposable incomes. This is expected to fuel the growth of the market during the forecast period.

Key trends – The increasing demand for fuel efficiency is a key trend in the global automotive engine market. The demand for fuel efficiency, safety, and emission reduction is growing in the automotive industry to improve the driving experience. This increases the efficiency of car engines, which helps reduce fuel costs. In addition, automotive OEMs prefer efficient automotive engine suppliers due to the demands for high performance and low fuel consumption. These factors will support the growth of the market during the forecast period.

Major challenges – The increasing popularity of electric vehicles is challenging the global automotive engine market growth. The increasing emphasis on the use of sustainable energy has increased the demand for electric cars. Some of the main factors that have increased the demand for electric vehicles include government subsidies, lower prices for battery electric vehicles (BEVs), and the adoption of cost-effective electric vehicles. The rapid expansion of electric car charging infrastructure, increasing consumer awareness, and total or partial bans on the use of fuel-engine vehicles are also increasing the demand for electric cars globally. These factors will negatively impact the demand for automotive engines during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

What are the key data covered in this automotive engine market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the automotive engine market between 2023 and 2027

  • Precise estimation of the size of the automotive engine market and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the automotive engine market across APAC, North America, Europe, South America, and Middle East and Africa

  • A thorough analysis of the market’s competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of automotive engine market vendors

Gain instant access to 17,000+ market research reports. 

Technavio’s SUBSCRIPTION platform

Related Reports:

The automotive third-party logistics (3PL) market is estimated to grow at a CAGR of 6.6% between 2022 and 2027. The size of the market is forecasted to increase by USD 93.48 billion. This report extensively covers market segmentation by type (finished vehicle and auto components), service (transportation, warehousing, distribution, inventory management, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America).

The automotive e-compressor market size is expected to increase by USD 7.45 billion from 2021 to 2026. This report extensively covers segmentation by application (passenger cars and commercial vehicles) and geography (APAC, North America, Europe, South America, and Middle East and Africa).

Automotive Engine Market Scope

Report Coverage

Details

Page number

178

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Decelerate at a CAGR of 3.43%

Market growth 2023-2027

14.23 million units

Market structure

Fragmented

YoY growth 2022-2023 (%)

3.69

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 38%

Key countries

US, China, Japan, India, and Germany

Competitive landscape

Leading vendors, market positioning of vendors, competitive strategies, and industry risks

Key companies profiled

AB Volvo, BMW AG, Cummins Inc., Dr. Ing. h.c. F. Porsche AG, Eicher Motors Ltd., Ford Motor Co., General Motors Co, Honda Motor Co. Ltd, Hyundai Motor Co., MAHLE GmbH, Maruti Suzuki India Ltd., Mazda Motor Corp., Mercedes Benz Group AG, Mitsubishi Motors Corp., Renault SAS, Stellantis NV, Toyota Motor Corp., Trelleborg AB, and Yamaha Motor Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio’s consumer discretionary market reports

Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Fuel Type

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Global Automotive Engine Market 2023-2027

Global Automotive Engine Market 2023-2027

Cision

Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/automotive-engine-market-size-to-grow-by-14-23-million-units-from-2022-to-2027-a-descriptive-analysis-of-customer-landscape-vendor-assessment-and-market-dynamics—technavio-301722222.html

SOURCE Technavio



Source link

Leave a Comment