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Nephrology And Urology Devices Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Nephrology And Urology Devices
What Is the Projected Growth of the Motor Vehicle Engine, Power Train & Parts Market?
The motor vehicle engine, power train & parts market size has experienced strong growth in recent years. It will rise from $915.15 billion in 2024 to $990.5 billion in 2025 at a CAGR of 8.2%. The growth is driven by economic conditions, regulatory changes, consumer preferences, and the global trade environment.
The motor vehicle engine, power train & parts market size is expected to grow strongly in the next few years. It will increase to $1308.98 billion by 2029, with a compound annual growth rate (CAGR) of 7.2%. This growth is due to trends such as electrification, sustainability and emissions reduction, connectivity, IoT, urbanization, and mobility services. Major trends include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, and increased collaboration and partnerships.
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What Are the Different Motor Vehicle Engine, Power Train & Parts Market Segments?
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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What Are the Primary Drivers Shaping the Motor Vehicle Engine, Power Train & Parts Market?
The rising demand for electric vehicles (EVs) is anticipated to drive the motor vehicle engines, power trains, and parts market. EVs use one or more electric motors powered by batteries or energy storage systems, requiring advanced engines, powertrains, and specialized parts for enhanced efficiency and performance. According to the International Energy Agency, EV sales reached 10 million in 2022 and are projected to grow to 14 million in 2023, thereby fueling the growth of this market.
Which Companies Are Leading in 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 Trends Are Expected to Dominate the Motor Vehicle Engine, Power Train & Parts Market in the Next 5 Years?
IoT continues to transform operations in the motor vehicle parts manufacturing market, enabling reduced downtimes and enhanced operational efficiency. Robert Bosch's collaboration with SAP exemplifies how connected systems using SAP HANA can monitor and support parts production. With automotive IoT expected to hit $106.32 billion by 2023, the majority of manufacturers are relying on analytics from IoT-linked devices for process improvement.
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What Are the Top Revenue-Generating Geographies in 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Motor Vehicle Engine, Power Train & Parts Market?
2. What is the CAGR expected in the Motor Vehicle Engine, Power Train & Parts Market?
3. What Are the Key Innovations Transforming the Motor Vehicle Engine, Power Train & Parts Industry?
4. Which Region Is Leading the Motor Vehicle Engine, Power Train & Parts Market?
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