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Automotive Powertrain Systems Market Analysis 2019 By Toyota Motor Corporation, Hyundai Motor Company, Ford Motor Company, Zf Friedrichshafen Ag
A powertrain system is one of the essential systems of an automobile. It comprises of all the components that produce power for the vehicle and transfer the same to the wheels, enabling vehicle movement. The components of the powertrain system include, engine, transmission, differentials, and drive shafts. The overall performance of the vehicle and its efficiency depends on the properties of the powertrain system.Detailed Sample Copy of Updated Analysis @ https://marketprognosis.com/sample-request/15911
Stringent Government Regulations to Drive the Market
The market growth can be credited to the stringent government regulations, increasing demand for eco-friendly vehicles, and technological improvements in powertrain systems to enhance the overall efficiency. One of the restraints to the growth of the market is the increased cost of powertrain systems.
Key Developments in the Market:
February 2018: BMW showcased its new i-lineup, including a Roadster edition of the i8 along with the i3s powered by plug-in hybrid, and the electric powertrain.
February 2018: Tata Motors showcased Tiago and Tigor, subcompact sedans, with powertrains sourced from Electra EV.
Major Players: TOYOTA MOTOR CORPORATION, HYUNDAI MOTOR COMPANY, FORD MOTOR COMPANY, ZF FRIEDRICHSHAFEN AG, GKN PLC, GENERAL MOTORS COMPANY, JTEKT CORPORATION, BORGWARNER INC., VOLKSWAGEN AG, AISIN SEIKI CO. LTD, amongst others.
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Asia-Pacific to Remain the Largest Market
The Asia-Pacific region had the largest powertrain market, in terms of value, in 2017. The primary reasons contributing to the growth of the powertrain market in the region are the increasing vehicle production and the surge of passenger cars. The introduction of stringent emission regulations in the European and North American countries have increased the demand for superior powertrains that are lightweight, which helps in increasing fuel economy, decreasing emissions, and improving vehicle performance.
The global automotive powertrain systems market is dependent on the steady growth rates of the global vehicle production and sales. With the advent of newer technologies that aim at providing increased efficiency and refinement, the market is expected to witness a stable growth during the forecast period.
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