Evolving Market Trends In The Vehicle Engine And Engine Parts Industry: Declining Automobile Sales Restrict Growth In Vehicle Engine And Engine Parts Market

The Vehicle Engine And Engine Parts Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Vehicle Engine And Engine Parts Market Size During the Forecast Period?
The vehicle engine and engine parts market has experienced substantial growth in recent years. It is expected to increase from $459.63 billion in 2024 to $493.89 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%. This growth can be attributed to the industrial revolution, the mass production of automobiles, environmental regulations, and the globalization of automotive manufacturing.

The vehicle engine and engine parts market is projected to grow steadily, reaching $630.69 billion by 2029 at a CAGR of 6.3%. Growth is fueled by the electrification of vehicles, advancements in autonomous vehicles, fuel efficiency, and the integration of 5G and green energy solutions. Key trends include the use of advanced materials, hybrid powertrains, digitalization and IoT, 3D printing, and the promotion of a circular economy.

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What Are the High-Growth Segments in the Vehicle Engine And Engine Parts Market?
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

Subsegments:
1) By Vehicle Engines: Internal Combustion Engines (ICE), Electric Vehicle (EV) Motors, Hybrid Vehicle Engines, Gasoline Engines, Diesel Engines, Natural Gas Engines, Hydrogen Engines, Engine Control Units (ECU)
2) By Vehicle Engine Parts: Pistons, Crankshafts, Cylinder Heads, Camshafts, Engine Blocks, Timing Belts Or Chains, Turbochargers, Oil Pumps, Water Pumps, Valve Lifters, Timing Gears, Fuel Injectors, Bearings, Gaskets And Seals

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What Key Drivers Are Expected to Influence Future Vehicle Engine And Engine Parts Market Growth?
The growing production of automobiles is boosting the vehicle engine and engine parts market. Different engine components are essential for vehicle manufacturing. According to the International Organization of Motor Vehicle Manufacturers, global vehicle production rose to 57.2 million units from January to September 2022, up from 52.1 million in the same period in 2021, thus supporting market growth.

Which Companies Hold the Largest Share Across Different Vehicle Engine And Engine Parts Market Segments?
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.

What Are the Latest Developing Trends in the Vehicle Engine And Engine Parts Market?
Declining sales in the automobile market are affecting the growth of the vehicle engine and engine parts market. Lower demand for automobiles globally results in reduced demand for new engines and engine parts. According to the Society of Indian Automobile Manufacturers, passenger car sales dropped from 1,541,866 in 2021 to 1,467,056 units in 2022, reflecting this decline.

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What Are the Emerging Geographies for The Vehicle Engine And Engine Parts Market Growth?
Asia-Pacific was the largest region in the vehicle engine and engine parts market in 2023. Western Europe was the second largest region in the vehicle engine and engine parts market. The regions covered in the vehicle engine and engine parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Vehicle Engine And Engine Parts Market?
2. What is the CAGR expected in the Vehicle Engine And Engine Parts Market?
3. What Are the Key Innovations Transforming the Vehicle Engine And Engine Parts Industry?
4. Which Region Is Leading the Vehicle Engine And Engine Parts Market?

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