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Vehicle Engine And Engine Parts Global Market Report 2024 - By Demand, Size, Share And Key Drivers, Forecast To 2033
Vehicle Engine And Engine Parts Market
As per the report, the vehicle engine and engine parts market size has grown strongly in recent years. It will grow from $427.27 billion in 2023 to $458.54 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The vehicle engine and engine parts market size is expected to see strong growth in the next few years. It will grow to $590.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
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Global Vehicle Production Drives Growth In Vehicle Engine And Engine Parts Market
The increasing manufacturing of automobiles is expected to drive the vehicle engine and engine parts market. Automobile manufactures use different engine components and engine parts for manufacturing a vehicle. According to statistics from the International Organization of Motor Vehicle Manufacturers, a Paris based international automobile trade association, the total number of vehicles produced globally, from January to September 2021 increased to 57.2 million units from 52.1 million units in 2020, during the same period. Therefore, the increasing production of vehicles around the world is expected to drive the vehicle engine and engine parts market growth.
Declining Automobile Sales Restrict Growth In Vehicle Engine And Engine Parts Market
Declining sales in the automobile sector restrict the growth of the vehicle engine and engine parts market. The decline in demand for automobiles in various economies causes lower demand for new engines and engine parts manufacturers. According to the International Organization of Motor Vehicle Manufacturers, global car production fell by 16% in 2020. In India, the Society of Indian Automobile Manufacturers said, there was decline in passenger car sales from 1,541,866 in 2021 to 1,467,056 units in 2022.
The vehicle engine and engine parts market covered in this report is segmented -
1) By Product Type: Vehicle Engines, Vehicle Engine Parts
2) By Fuel Type: Gasoline (Petrol), Diesel, Gas, Other Fuel Types
3) By Placement Type : In-line Engine, W Engine and V-Type
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Major companies operating in the vehicle engine and engine parts market include Cummins Inc., Toyota Motor Corporation, DENSO Corporation, Delphi Technologies PLC, Federal-Mogul LLC, MAHLE GmbH, Bayerische Motoren Werke Aktiengesellschaft, General Motors Company, Volkswagen AG, Fiat Chrysler Automobiles N.V., Volkswagen Group, Daimler AG, Stellantis N.V., Hyundai Motor Group, Nissan Motor Co. Ltd., Subaru Corporation, Volvo Group, Caterpillar Inc., Navistar International Corporation, Deere & Company, MAN Truck & Bus SE, Scania AB, PACCAR Inc., Wärtsilä Corporation, Perkins Engines Company Limited, MTU Friedrichshafen GmbH, Isuzu Motors Limited, CNH Industrial N.V.
Contents of the report:
1. Executive Summary
2. Vehicle Engine And Engine Parts Market Report Structure
3. Vehicle Engine And Engine Parts Market Trends And Strategies
4. Vehicle Engine And Engine Parts Market - Macro Economic Scenario
5. Vehicle Engine And Engine Parts Market Size And Growth
…..
27. Vehicle Engine And Engine Parts Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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