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Automotive Powertrain Market: Technological Advancements to Underscore Lucrative Growth Opportunities || Key Players: GKN plc., Magna Powertrain Ltd. and Delphi Automobile LLP.
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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.
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.
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Demand for the mid-sized vehicles continue to remain high attributed to comparatively cheaper prices. Manufacturers are significantly focusing on incorporating advanced technological features such as engine downsizing to offer improved fuel delivery system and control system, which improves the efficiency and power of the vehicles. Surge in demand for mid-sized vehicles is projected to rev up sales of the automotive powertrains. In addition, increase in harshness, noise and vibration due to cylinder deactivation, stop-start system, turbocharging technology along with plug-in hybrid and hybrid technology has led the manufacturers to integrate leading technological developments in the engine. The automotive manufacturers are integrating various features such as noise cancellation technologies and engine mount to eliminate noise produced due to engine. These factors are projected to contribute towards the global market growth of automotive powertrain significantly throughout the forecast period.
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Competition Tracking
Leading market players operating in the global automotive powertrain market include General Motors, Ford Motors, Volkswagen Group, Hyundai, Toyota, BorgWarner Inc., JTEKT Corp., GKN plc., Magna Powertrain Ltd. and Delphi Automobile LLP.
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