Vehicle Engine And Engine Parts Market Analysis by top Manufacturers - Cummins, Toyota Motor, DENSO Corporation, Delphi Automotive PLC

Global "Vehicle Engine And Engine Parts Market" 2020 Research report provides information regarding market size, share, trends, growth, cost structure, global market competition landscape, market drivers, challenges and opportunity, capacity, revenue and forecast 2023. This report also includes the overall and comprehensive study of the Vehicle Engine And Engine Parts market with all its aspects influencing the growth of the market. This report is exhaustive quantitative analyses of the Vehicle Engine And Engine Parts industry and provides data for making strategies to increase the market growth and effectiveness.

The global vehicle engine and engine parts market reached a value of nearly $240.2 billion in 2019, having grown at a compound annual growth rate (CAGR) of 7.92% since 2015, and is expected to grow at a CAGR of 8.92% to nearly $338.1 billion by 2023.

The growth for the vehicle engine and engine parts market is restricted by the growing popularity of the electric vehicles all over the world. These battery-operated cars are not only easier to maintain but also does not contribute towards the air pollution. The popularity of electric car market is backed up by several government initiatives such as in Norway, the drivers of zero emissions cars are not only exempted from road tax but also exempted from 25% VAT on sales, reduced road and ferry tolls and parking costs, and access to bus lanes. According to the reports by International Energy Agency (IEA), the electric passenger cars passed 5 million in 2018, with Norway emerging as the global leader in terms of electric car market share. The market share of battery electric vehicles was 58.4 percent in March 2019.With the increasing popularity of electric vehicles, the demand for engine operated vehicles is negatively impacted thus causing an overall fall in the demand for vehicle engine and engine parts market.

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Scope of the Report:

Markets Covered: 1) By Product Type: Vehicle Engines; Vehicle Engine Parts 2) By Fuel Type: Gasoline (Petrol); Diesel, Gas, Other

Companies Mentioned: Cummins; Toyota Motor; DENSO Corporation; Delphi Automotive PLC ; Federal Mogul Corporation

Countries: Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA and Australia

Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Market Insights:

The companies operating in the vehicle engine and engine parts market are investing towards improving the fuel efficiency in internal combustion engines. Manufacturers are producing engines that delivers higher power and improves fuel economy. Improving the fuel efficiency of vehicle engine serves as an economical solution as well as reduces the emission of harmful pollutants into the air. For instance, to improve the fuel efficiency companies are investing in ""direct fuel injection "" technology in which the direct injection systems spray a fine mist of fuel directly into the cylinder helps keep the engine's temperature down and increases the fuel efficiency. Following the trend in 2019, Mazada, a Japanese automaker, launched the Mazda 3 with Mazda's Skyactiv-X gas-powered Spark-Controlled Compression Ignition engine. Also as reported by the U.S Department of Energy, direct fuel injection can improve engine efficiency by 12%. Thus, with increased concerns for the environment and to provide a better value for money, companies operating in the market are investing more towards improving the fuel efficiency of the engines.

In 2019, Japan based, Honda Motor Co and Hitachi Ltd agreed to merge four of their car-parts businesses including -Hitachi Automotive Systems, Keihin Corp., Showa Corp. and Nissin Kogyo Co. The transaction will be completed in two steps with Honda making share offer to Keihin Corp., Showa Corp. and Nissin Kogyo following which Hitachi will make Hitachi Automotive Systems a subsidiary. In the merger, Hitachi will own 67 percent and Honda will own the remainder. Through this merger, Honda and Hitachi will get an access to resources and technology of mergers. Keihin Corp., Showa Corp. and Nissin Kogyo are Japan based manufacturers. Keihin is a manufacturer of conventional engine components including management systems for natural gas vehicles, Showa manufactures differential gears, shafts and other components, Nissin Kogyo specializes in the manufacturing of braking systems.

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Vehicle Engine And Engine Parts Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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