Automotive Powertrain Systems Market Size & Industry Growth Analysis is Expected To Reach USD 1748.91 Billion By 2032, at a CAGR of 7.6% | PMR

Global Automotive Powertrain Systems Market size and share is currently valued at USD 904.60 billion in 2023 and is anticipated to generate an estimated revenue of USD 1748.91 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 7.6% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 - 2032

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The report examines everything a marketer needs before financing in the global Automotive Powertrain Systems Industry during the forecast period 2024-2032. Automotive Powertrain Systems Market Share, Size, Trends, Industry Analysis Report By Drive Type (Front-Wheel Drive Powertrain System, Rear-Wheel Drive Powertrain System and All-Wheel Drive Powertrain System); Vehicle Type (Passenger Cars, Commercial Vehicles); Fuel Type (Gasoline, Diesel); Regions, Segments & Forecast, 2024 - 2032. This report provides a thorough understanding of market shares, size, current trends, and sales value.

Market Introduction:

The powertrain system of an automobile produces, transfers, and permits the movement of the vehicle. A vehicle's engine, transmission, driveshaft, differentials, and axles are among the mechanical parts that make them work. One of the key parts of an automobile's powertrain is the engine. The engine generates power and torque by use of precisely timed explosions within the cylinders, compelling the pistons to move and accelerating the crankshaft's rotation.

Competitive Insights:

In this extremely competitive industry, major rivals constantly innovate and differentiate their products in an effort to take the lead in the market.

The market's major participants in the automotive powertrain systems industry are:

• Hyundai Motor Company
• Volkswagen AG
• ZF Friedrichshafen AG
• Toyota Motor Corporation
• General Motors Company
• Aisin SeikiCo. Ltd
• Delphi Automobile
• Denso Corporation
• GKN PLC.

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/buy/247/2

Market Segmentation:

The global Automotive Powertrain Systems market is segmented on the basis of drive type, vehicle type, fuel type, and geography. Based on the drive type, the market is segmented into Front-Wheel Drive Powertrain System, Rear-Wheel Drive Powertrain System and All-Wheel Drive Powertrain System.

The vehicle types include passenger cars, and commercial vehicles. The passenger cars segment dominated the global automotive powertrain systems market in 2017. The rising demand for luxury vehicles, and growing demand of passenger vehicles from emerging economies boosts the growth of this segment. The increasing need for fuel efficiency, and growing preferences of consumers towards comfortable and enhanced driving experience would increase the demand of automotive powertrain systems from this segment.

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Key Statistics of the Market:

● The global automotive powertrain systems market size was valued at USD 904.60 billion in 2023 and is expected to grow to USD 1748.91 billion by 2032.

● The industry is expected to expand at a CAGR of 7.6% during the forecast period.

● The market is mainly segmented on the basis of drive type, vehicle type, fuel type, and geography.

● Asia-Pacific dominated the worldwide automotive powertrain systems industry, owing to rising passenger car demand and technological developments.

Growth Factors:

The growing automotive industry and increasing demand for automatic transmissions drive the growth of the automotive powertrain systems market. The introduction of government regulations regarding carbon emissions and fuel efficiency increases the demand for automotive powertrain systems worldwide. The rising popularity of downsized engines and increasing demand for passenger cars from emerging economies have accelerated the adoption of automotive powertrain systems.

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