According to Fact.MR, the global automotive powertrain market is expected to represent a value of over US$ 500 Mn by the end of 2026.
Government Regulations to Impact Global Market Growth
As government in various countries are increasingly focusing on developing smart cities, demand for the electric vehicles is bound to increase globally. In order to reduce the emission of carbon dioxide in the environment, government in various countries are increasingly imposing regulations regarding the level of carbon dioxide emitted in the country. Growing need to reduce the level of emission and control the pollution level has led to increasing demand for electric vehicles. Surge in demand for electric vehicles will continue to rev up demand for the automotive powertrain globally.
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Technological Advancements to Underscore Lucrative Growth Opportunities
In order to reduce the consumption and fuel emission, manufacturers are increasingly focusing on incorporating engine downsizing in the vehicles. Increasing integration of engine downsizing will continue to remain a major trend in the automotive industry globally. In addition, manufacturers are also focusing on integrating engine management sensors to improve the efficiency of the engine and optimize the fuel economy. Moreover, companies in the automotive industry are further concentrating on offering vehicles equipped with sensor clusters and smart actuators. Growing need to integrate automotive components such as transmission, smart actuators and sensor clusters will continue to fuel demand for automotive powertrain globally. Manufacturers are also focusing on integrating leading technological features such as combustion control to ensure effective prevention of the environmental pollution. Bound to these factors, the global automotive powertrain market is expected to witness significant growth during the forecast period.
Gasoline Powertrain to Represent a Leading Segment
Growing need for power in all the wheels of the vehicle is expected to rev up demand for all wheel drive in the automotive industry. On the basis of position type, the all wheel drive segment is expected to represent the highest revenue growth, accounting for a value of over US$ 80 Mn by the end of 2026. Moreover, the all wheel drive position type segment is expected to register a robust CAGR throughout the forecast period.
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Based on vehicle type, the light commercial vehicle segment is expected to generate significant revenues, recording a value of over US$ 30 Mn by the end of 2017. However, the mid-sized vehicle type segment and the compact vehicles segment is expected to register a significant CAGR through 2026.