A report from Transparency Market Research, titled “Global
Powertrain Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2014 - 2020,” provides the latest
market intelligence. According to the report, the global powertrain
market is projected to expand at a CAGR of 5.30% during the forecast
period from 2014 to 2020. In 2013, the global powertrain market was
worth around US$365.6 bn and by 2020, the market is projected to be
worth US$524.6 bn.
A powertrain system forms one of the key, primary components of a
vehicle. The powertrain features all of the components that generate
power for the vehicle and transmit the same to the wheels, allowing
the vehicle to move. The components of a powertrain system include
transmission, drive shafts, engine, final drive, and differentials.
Furthermore, the overall performance of the vehicle and its fuel
economy depend on the attributes of the powertrain system.
The global powertrain market is driven by the growing demand for
environment-friendly vehicles, stringent government regulations, and
the technological advancement in powertrain systems to improve fuel
efficiency. On the other hand, the global powertrain system market is
suppressed by the elevated cost of powertrain systems. Moreover, the
global powertrain system market will also be challenged by the trend
of oligopolistic powertrain suppliers.
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Broadly, the global powertrain market is segmented by component,
vehicle type, and geography. On the basis of component, the global
powertrain market is segmented into final drive, differentials, drive
shafts, transmission, and engine. By vehicle type, the global
powertrain market is divided into farm tractors, defense vehicles,
off-road vehicles, HCVs, ICVs, LCVs, cars, and construction
equipment.
According to region, the global powertrain market is classified into
Asia Pacific, Europe, North America, and Rest of the World (RoW).
Presently, Asia Pacific is one of the most lucrative regions in the
global powertrain market. The elevated demand for automobiles in Asia
Pacific is projected to drive this regional market. In APAC economies
such as China, India, and Japan, the production of a huge number of
vehicles is positively impacting the powertrain systems market. Other
factors driving the APAC powertrain market are the growing
consumption expenditure and upgradation of automobile powertrain
systems. Moreover, the ongoing infrastructure development in APAC
will also drive the automotive market, in turn driving the powertrain
market.
The RoW region followed APAC in terms of market attractiveness in the
global powertrain market. The presence of the UAE and Brazil has led
to considerable growth of the powertrain market in RoW due to the
elevated demand for automobiles in these economies. Nevertheless,
Europe still continues to be the largest market for powertrains due
to the presence of elite automobile brands such as Volkswagen,
Mercedes, and BMW in this region.
Players in the global powertrain market will benefit by investing in
market opportunities such as hybrid powertrain systems. Moreover,
companies can also capitalize on the opportunity presented by the
rising demand for noiseless and eco-friendly powertrain systems.
Players can also focus on developing powertrain systems capable of
functioning on alternative fuels. The key players profiled in the
global powertrain market are Continental AG, Hyundai Motor Company,
ZF Friedrichshafen, Valeo, Ford Motor Company, Magna International,
and General Motors Company.
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