Power Train And Power Train Parts Market Size, Growth Analysis, Share, Leading Key Players, Trends, And Forecast To 2033

The power train and power train parts market size has grown strongly in recent years. It will grow from $417.67 billion in 2023 to $454.93 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to stringent emission regulations, rising demand for automated transmission, growing trend of engine downsizing, rising demand for hybrid powertrains, increasing demand for passenger cars.

The power train and power train parts market size is expected to see strong growth in the next few years. It will grow to $625.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to electrification and hybridization, autonomous vehicles, energy efficiency, connectivity and iot, green energy and hydrogen. Major trends in the forecast period include lightweighting, advanced materials and composites, digitalization and ai, remanufacturing and circular economy, modular powertrain systems.

Market Overview -
The powertrain and powertrain components refer to the collection of each part that propels the vehicle forward. The powertrain in the vehicle uses the engine's generated force to transmit it to the wheels on the ground.

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Fuel Efficiency Drive The Catalyst For Advancements In The Powertrain And Powertrain Parts Market
The power train and power train parts market are driven by the increasing demand for improved fuel efficiency. The amount of fuel consumed depends on the engine, the type of fuel used, and the efficiency with which the output of the engine is transmitted to the wheels. The powertrain system transmits the engine energy to the wheels of the vehicle and helps in reducing the speed of the engine to save fuel. According to a survey by Consumer Reports, 85% of American adults demanded that automakers should continue to improve fuel economy for all types of vehicles. The need to increase fuel efficiency promotes the development of new power train systems that are both economical and more fuel-efficient.

Competitive Landscape -
Major companies operating in the power train and power train parts market include Ford Motor Company, General Motors Company, Volkswagen AG, ZF Friedrichshafen AG, Delphi Technologies Inc., Toyota Motor Corporation, JTEKT Corporation, Allison Transmission Holdings Inc., BorgWarner Inc., Hyundai Motor Company, Aisin Seiki Co. Ltd., JTEKT North America Corporation, AW North Carolina Inc., Dexter Axle Company, Kyklos Bearing International LLC, Deere & Company (John Deere Coffeyville Works), Altra Industrial Motion Corp. (Warner Electric LLC), Fabco Automotive Corporation, American Axle & Manufacturing Holdings Inc., Cloyes Gear and Products Inc., Powertech America Inc., Reliance Electric Company LLC, thyssenkrupp Crankshaft Company LLC, BorgWarner Transmission Systems Inc., Capco Automotive Products Corporation, The Gleason Works, MAHLE GmbH, AVL List GmbH, American Axle & Manufacturing Inc.

Punch Powertrain'S Innovative E-Propulsion Technology Kit Revolutionizes The Powertrain And Powertrain Parts Market
Major companies operating in the power train and power train parts market are innovating new technological products such as E-Propulsion Technology Kit to increase their profitability in the market. The E-Propulsion Technology Kit is a modular electric propulsion system made up of the transmission, electric motor, and power electronics that make up an Electric Drive Unit (EDU). For instance, in November 2021, Punch Powertrain NV automotive parts company launched E-Propulsion Technology Kit. The kit is intended to give automakers a variety of e-drive configuration possibilities, allowing customers worldwide to create unique e-propulsion applications to suit their customers' and businesses' demands. Electric outboard motors for sailboats, fishing boats, dinghies, tenders, inflatable ribs, and more are some uses for the E-Propulsion Technology Kit.

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Key Segments -
The power train and power train parts market covered in this report is segmented -
1) By Components: Engine, Transmission, Drive Shafts, Differentials, Final Drive
2) By Technology: Hybrid, Automated
3) By Vehicle Type: Passenger Car (PC), Commercial Vehicle (CV), Off-Road Vehicles, Construction Equipment, Defence Vehicles, Agricultural Vehicles

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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