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Motor Vehicle Engine, Power Train & Parts Market Growth Segments Of The Market, Rapid Growth 2023-2032
Motor Vehicle Engine, Power Train & Parts Global Market
The Business Research Company's Motor Vehicle Engine, Power Train & Parts Global Market Report 2024 identifies The growing demand for aftermarket as the major driver for the Motor Vehicle Engine, Power Train & Parts market's growth in the forecast period. Aftermarket automotive parts are parts that are not manufactured by the original equipment manufacturer (OEM). These are used as replacements or to upgrade the original components of a vehicle. Aftermarket components in the motor vehicle engine, power train, and parts industry are utilized for replacement, performance enhancements, economical options, modification, and maintenance. Aftermarket components are frequently less expensive than OEM parts while providing comparable or superior performance.
The motor vehicle engine, power train & parts market size has grown strongly in recent years. It will grow from $844.94 billion in 2023 to $913.47 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to economic conditions, regulatory environment, consumer preferences, global trade.
The motor vehicle engine, power train & parts market size is expected to see strong growth in the next few years. It will grow to $1,216.03 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to electrification, sustainability and emissions reduction, connectivity and iot, urbanization and mobility services. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships.
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Major competitors in the Motor Vehicle Engine, Power Train & Parts market are EXOR Group, Robert Bosch GmbH, Aisin Seiki Co Ltd., Toyota Motor Corp, Denso Corp., Schaeffler Technologies AG & Co KG, Continental AG, Gestamp Automoción, Tata Motor Group, Dana Incorporated.
A key trend in the Motor Vehicle Engine, Power Train & Parts market includes using IoT to reduce unscheduled downtimes, thereby increasing operational efficiency. oT is a system of 'connected devices' with the ability to collect and exchange data over a network without any human intervention or assistance. IoT helps motor vehicle parts manufacturers increase their efficiency by providing real-time information about production processes. In addition, IoT can be used by automobile parts manufacturers to obtain wear and tear data that can prevent equipment failures.
Read More On The Global Motor Vehicle Engine, Power Train & Parts Market Report Here:
https://www.thebusinessresearchcompany.com/report/motor-vehicle-engine-power-train-parts-global-market-report
The Motor Vehicle Engine, Power Train & Parts market is segmented -
1) By Type: Vehicle Engine And Engine Parts, Power Train And Power Train Parts
2) By Application: Passenger Vehicle, Commercial Vehicle
3) By End Use: OEM, Aftermarket
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Motor Vehicle Engine, Power Train & Parts market.
The Business Research Company's "Global Motor Vehicle Engine, Power Train & Parts Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Motor Vehicle Engine, Power Train & Parts Market Include:
1. Executive Summary
2. Motor Vehicle Engine, Power Train & Parts Market Characteristics
3. Motor Vehicle Engine, Power Train & Parts Product/Service Analysis -Product/Service Examples
4. Motor Vehicle Engine, Power Train & Parts Market Trends And Strategies
5. Motor Vehicle Engine, Power Train & Parts Market - Macro Economic Scenario
……
68. Global Motor Vehicle Engine, Power Train & Parts Market Competitive Benchmarking
69. Global Motor Vehicle Engine, Power Train & Parts Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Motor Vehicle Engine, Power Train & Parts Market
71. Motor Vehicle Engine, Power Train & Parts Market Future Outlook and Potential Analysis
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