Future Perspective: Key Trends Shaping the Vehicle Engine and Engine Parts Market Up to 2030

The vehicle engine and engine parts market is on track for substantial growth, driven by evolving automotive technologies and increasing demand for efficient, low-emission powertrains. With advancements in materials and smart systems, this sector is set to experience significant changes and opportunities over the coming years. Let's explore the market size, leading players, key trends, and segment insights shaping this industry.

Projected Growth and Market Size of the Vehicle Engine and Engine Parts Market
The vehicle engine and engine parts market is expected to expand significantly, reaching a value of $581.64 billion by 2030. This growth reflects a compound annual growth rate (CAGR) of 6.0%. The acceleration in electric vehicle (EV) adoption, demand for low-emission engines, development of hydrogen engines, integration of smart engine control systems, and use of advanced materials are key factors propelling this market forward. Noteworthy trends include a shift towards hybrid and electric powertrains, increased use of lightweight engine components, rising popularity of turbocharged engines, advanced electronic control units (ECUs), and enhanced focus on fuel efficiency.

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Top Companies Leading the Vehicle Engine and Engine Parts Market
The market features a diverse group of major players, including Cummins Inc., Toyota Motor Corporation, DENSO Corporation, Delphi Technologies PLC, Federal-Mogul LLC, MAHLE GmbH, Bayerische Motoren Werke Aktiengesellschaft (BMW), 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, and CNH Industrial N.V.

Strategic Acquisition Expands LKQ Europe's Reach
In February 2023, LKQ Europe, recognized as Europe's largest provider of vehicle parts and services, acquired the Dutch automotive firm Rhenoy Group. This strategic move enables LKQ Europe to enhance its accessibility and commitment to sustainable mobility throughout European markets. Leveraging its expertise and remanufacturing capabilities, LKQ Europe aligns this acquisition with its broader European strategy. Rhenoy Group is well-established within the automotive sector, specializing in repairing damage to new, remanufactured, and used vehicle parts.

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Technological Advancements Driving the Vehicle Engine and Engine Parts Market
Leading companies in this market are heavily focused on automotive engineering innovations that increase power and torque, particularly for heavy-duty trucks requiring superior performance and towing ability. High power and torque describe an engine's capacity to produce substantial horsepower and rotational force to handle demanding loads. For example, in January 2025, Cummins Inc., a global leader based in the U.S., introduced the 2025 6.7L Turbo Diesel Pickup engine designed for Ram Heavy Duty Trucks. This engine boasts up to 430 horsepower and 1,075 lb.-ft. of torque and features a variable-geometry turbocharger, high-pressure fuel injection, and optimized airflow. These enhancements improve drivability, fuel efficiency, and reliability.

Segment Analysis within the Vehicle Engine and Engine Parts Market
This market is broken down into several segments to provide detailed insights:
1) By Product Type: Vehicle Engines and Vehicle Engine Parts
2) By Fuel Type: Gasoline (Petrol), Diesel, Gas, and Other Fuel Types
3) By Placement Type: In-line Engines, W Engines, and V-Type Engines

Further subdivisions include:
- Vehicle Engines: Internal Combustion Engines (ICE), Hybrid Vehicle Engines, Gasoline Engines, Diesel Engines, Natural Gas Engines, and Hydrogen Engines
- 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

This comprehensive breakdown offers a clear view of the complex components and fuel types that constitute the vehicle engine and engine parts industry, highlighting the breadth of the market and its ongoing innovation.

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This release was published on openPR.