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Automotive Powertrain Components Market Size Estimated To Observe Significant Growth By 2027
The growth of automotive powertrain components market shares is directly dependent on the sales of automotive vehicles across the globe.With increasing disposable income of the population across the globe, the demand for passenger cars and other automotive vehicles as means of local commute is expected to increase significantly in the coming years.
Furthermore, the demand for automatic transmission has increased significantly and the rising trend of downsizing engine and reducing fuel consumption is expected to increase the demand of automotive powertrain components to cater to the advancing demands from the automotive industry.
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Automotive Powertrain Components Market: Regional Outlook
The adoption of all-wheel drive vehicles is more in North America. This coupled with increasing preference for luxury and comfort cars will increase the demand in the advanced technology automotive powertrain components market.
Asia pacific is expected to create immense growth opportunities in the coming years, this can be attributed to the increasing sales of vehicles in the region and increasing purchasing power of the population in the region.
The Chinese government has launched various initiatives to promote the manufacturing of vehicles in the country, which will further create opportunities for the augmentation of the automotive powertrain components market.
Europe is benefitting from the presence of numerous key manufacturers in countries, such as Germany, etc. Presence of numerous players in the region further increases the opportunities of augmentation of the automotive powertrain components market in the coming years.
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Automotive Powertrain Components Market: Key Players
Some of the key players identified across the value chain of the Automotive Powertrain Components market are:
Eaton Corporation
Convertech, Inc.
RSB Group
American Axle & Manufacturing Holdings, Inc.
IFA Rotorion – Holding GmbH
Dana Incorporated
GKN plc
Guansheng automobile parts manufacture co., ltd.
NEAPCO
NTN Bearing Corporation
Shou Chi Industry Co.
Zhejiang Feizhou Vehicle Industry Co ,.Ltd
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