Transforming the Motor Vehicle Engine, Power Train & Parts Market in 2025: Rising Electric Vehicles Fuels Growth In The Motor Vehicle Engine, Power Train, And Parts Market

What Is the Expected Size and Growth Rate of the Motor Vehicle Engine, Power Train & Parts Market?
The market size for motor vehicle engine, power train & parts has experienced robust growth in the past few years. The market, which was worth $915.15 billion in 2024, is projected to increase to $990.5 billion in 2025, with a compound annual growth rate (CAGR) of 8.2%. Economic conditions, regulatory policies, consumer tastes, and global trade have all contributed to this growth during the historic period.

The market size of the motor vehicle engine, power train & parts is anticipated to witness robust growth in the upcoming years. It is projected to expand to $1308.98 billion by 2029, with a compound annual growth rate (CAGR) of 7.2%. The growth during the predicted period is credited to factors such as electrification, sustainability and emissions reduction, connectivity and IoT, urbanization, and mobility services. Key trends to look out for in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, and collaboration and partnerships.

What Factors Are Fueling Growth in the Motor Vehicle Engine, Power Train & Parts Market?
The motor vehicle engines, power trains, and parts market is anticipated to experience robust growth fueled by the rising demand for Electric Vehicles (EVs). An electric vehicle is primarily powered by one or more electric motors which utilize electricity to operate from either batteries or other energy storage devices. These EVs' rely on advanced engine technologies, electric powertrains, and specialized components for a superior performance, efficiency, and sustainability, supporting a major transformation in the automotive industry. A notable example is the International Energy Agency's report. This France-based intergovernmental organization reported that EV sales were 10 million in 2022, with an expected rise to 14 million by 2023. This accentuates how the surge in demand for electric vehicles is catalyzing the expansion of the motor vehicle engines, power trains, and parts market.

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Which Leading Companies Are Shaping the Growth of the Motor Vehicle Engine, Power Train & Parts Market?
Major companies operating in the motor vehicle engine, power train & parts market include 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, Magna International Inc., ZF Friedrichshafen AG, Hyundai Motor Company, GKN Ltd., BorgWarner Inc., Valeo SA, JTEKT Corporation, Mahle GmbH, Autoliv Inc., Hitachi Automotive Systems Ltd., Nexteer Automotive Group Limited, American Axle & Manufacturing Holdings Inc., Tenneco Inc., Lear Corporation, Faurecia SA, Benteler Automotive Corporation, Linamar Corporation, Rheinmetall Automotive AG, Mando Corporation, WABCO Holdings Inc., Allison Transmission Holdings Inc., Cummins Inc., Eaton Corporation plc.

What Are the Major Trends Shaping the Motor Vehicle Engine, Power Train & Parts Market?
Manufacturers of motor vehicle parts are leveraging Internet of Things (IoT) technology to minimize unexpected downtime and boost operational efficiency. IoT is a network-connected system that allows for seamless data collection and exchange between devices sans human intervention. It offers real-time insights into production processes, enabling motor vehicle parts manufacturers to enhance their efficiency. Moreover, IoT enables these manufacturers to gather data on wear and tear, which aids in averting equipment breakdowns. One such case is the German automobile parts manufacturer, Robert Bosch, which entered into a partnership with software firm SAP to link its manufacturing equipment, tools, and vehicles to SAP's backend software. The IoT technology they employ, which is powered by SAP's real-time database HANA, supports and monitors the production of car parts. Projections indicate that by 2023, the global automotive IoT industry would be worth 106.32 billion. IDC and SAP also report that 60% of global manufacturers utilize analytic data from IoT-connected devices to scrutinize their manufacturing procedures.

What Are the Key Segments of the Motor Vehicle Engine, Power Train & Parts Market?
The motor vehicle engine, power train & parts market covered in this report 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, After market

Subsegments:
1) By Vehicle Engine And Engine Parts: Internal Combustion Engines (ICE), Electric Vehicle Engines, Hybrid Vehicle Engines, Engine Parts (Pistons, Crankshafts, Cylinder Heads, Timing Belts)
2) By Power Train And Power Train Parts: Transmission Systems, Drivetrain Components (Axles, Differential, Drive Shafts), Clutch Systems, Gearboxes, Propeller Shafts, Couplings

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Which Region Dominates the Motor Vehicle Engine, Power Train & Parts Market?
Asia-Pacific was the largest region in the motor vehicle engines, power trains, & parts market in 2023. Western Europe was the second largest market in motor vehicle engines, power trains, & parts market. The regions covered in the motor vehicle engine, power train, & parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.

What Is Covered In The Motor Vehicle Engine, Power Train & Parts Global Market Report?

- Market Size Analysis: Analyze the Motor Vehicle Engine, Power Train & Parts Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Motor Vehicle Engine, Power Train & Parts Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Motor Vehicle Engine, Power Train & Parts Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Motor Vehicle Engine, Power Train & Parts Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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