Automotive Engine Market 2020 Industry Outlook, Demand and Global Research Analysis Report-AnHui JuCheng Fine Chemicals Co., Ltd., Ashland Inc., BASF

The global automotive engine market is anticipated to register a CAGR of about 6.75% during the forecast period (2019-2024).

- Extensive innovations and prototypes from major automakers and OEMs, coupled with the consumer preference for high-performance and fuel-efficient automobiles, are some of the major factors that are primarily propelling the market growth.

- Engine downsizing trend is on rise with automakers developing smaller engines with better fuel injection systems. L4 and V6 engines dominated the automotive engine market by placement type in 2018. Passenger cars are expected to continue their dominance as the major vehicle type in the market.

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Market By Top Companies:

AnHui JuCheng Fine Chemicals Co., Ltd., Ashland Inc., BASF, Beijing Hengju Oilfield Chemical Agent Co. Ltd., Black Rose, China National Petroleum Corporation, Ecolab, Envitech Chemicals Specialties Pvt. Ltd., Fexiang Group of Companies, Kemira, King Union Group Corp., Liaocheng Yongxing Environmentals, PetroChina Company Ltd., Puyang Longquan Polymer Co. Ltd, Shandong Tongli Chemical Co. Ltd., Shuiheng Chemicals, Sinopec, SNF Floerger, Tainrun Chemicals, DowDupont, Xiltao Polymers, Yixing Cleanwater Chemicals Co., Ltd.

Industry Research Coverage

Growing Sales of Electric Vehicles Hindering the Growth of the Market

The electric vehicle market has been witnessing healthy growth in the recent years, with about 1.9 million units of battery electric vehicles (BEVs) in use in 2017, compared to 109 thousand units of BEVs in 2012.

- This spike in sales has been the result of an increase in regulatory norms, by various organizations and governments, to control emission levels and to propagate zero-emission vehicles.

As a result of the aforementioned reasons, automakers have been continually working and focusing to increase their expenditure on the R&D of electric vehicles, which, in turn, is aiding the OEMs to market electric vehicles as the future.

- This strategy had a strong impact on people, as there was a considerable change in the purchase pattern from conventional IC engine vehicles to electric vehicles.
- The change has not decreased the sales of IC engine vehicles, but rather created a promising market for electric vehicles in the present as well as in the forecast period.

Governments across the world have initiated various schemes and initiatives, which encourage a buyer to choose electric vehicles over conventional vehicles.

- For instance, the California ZEV program, which aims at bringing 1.5 million electric vehicles on the road by 2025, is one such initiative that promotes the purchase of electric vehicles.
- Additionally, countries, such as India, China, United Kingdom, Korea, France, Germany, Norway, Netherlands, etc., have numerous incentives for people willing to buy an electric vehicle.

Additionally, retail stores are also working in close partnerships with the OEMs to increase the number of charging stations to help the customers and reduce their efforts.

- For instance, in April 2018, Walmart announced that it will work with Volkswagen subsidiary and Electrify America, to install fast electric vehicle chargers at 100 locations across 34 states, by the summer of 2019.

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Notable Developments in the Market

- In January 2019, Cummins Inc., launched its next-generation 6.7L turbo diesel engine boasting a first-in-class 1,000 pound-feet of torque. It also has the higher horsepower output, taking the 2500 and 3500 heavy-duty RAM pickup truck customers to the next level of performance.

- In May 2019, Audi expected to offer its new A4 model line with a choice of six turbocharged engines. The power outputs range from 150ps to 347ps, in the A4 35 TFSI and the S4 TDI respectively.

- In May 2019, MAN Energy Solutions has added variable turbine area (VTA) technology to its TCA turbochargers for the MAN 51/60 engine type, marking the first time that VTA technology has been approved as standard for a large-bore MAN four-stroke engine.

Major points covered in this research are:-

─Automotive Engine Market Overview, Segment by Type (Product Category), by Application, by Region (2020-2024), Competition by Manufacturers

─Global Market Size (Value) of Automotive Engine (2020-2024)

─Global Automotive Engine Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2020-2024)

─Global Automotive Engine Production, Revenue (Value), Price Trend by Type

─Global Automotive Engine Market Analysis by Application

─Global Automotive Engine Manufacturers Profiles/Analysis

─Automotive Engine Manufacturing Cost Analysis

─Industrial Chain, Sourcing Strategy and Downstream Buyers

─Marketing Strategy Analysis, Distributors/Traders

─Market Effect Factors Analysis

─Global Automotive Engine Market Forecast (2020-2024)

─Competitive Landscape

─Research Findings and Conclusion

Finally, this Automotive Engine report covers the market scenario and its development prospects over the coming years. The report likewise manages the type analysis, contrasting it with the significant application, recent Automotive Engine product development, and gives an outline of the potential global market.

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