Global Automotive Powertrain Market is projected to grow at a CAGR of 12.5% By 2032: Visiongain Research Inc
Visiongain Ltd
9 min read
Visiongain has published a new report entitled the Automotive Powertrain Market Report 2022-2032. It includes profiles of Automotive Powertrain and Forecasts Market Segment by , Value (USD Million), Volume (Thousand Units) Market Segment by Drive Type, (Front-Wheel Drive (FWD), Rear-Wheel Drive (RWD), All-Wheel Drive (AWD)) Market Segment by Fuel Type, (Gasoline, Diesel, Electric, Hybrid, Other Fuel Types) , Market Segment by Application, (Sports, Entertainment, Agriculture, Military & Defense, Hunting & Forestry, Other Application) Market Segment by Vehicle Type, (Passenger Cars (PCS), Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), Other Vehicle Type) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
The global automotive powertrain market was valued at US$4187 million in 2021 and is projected to grow at a CAGR of 12.5% during the forecast period 2022-2032.
The Hybrid Revolution Is Expected to Accelerate in The Coming Years
The hybrid revolution is expected to accelerate in the coming years. Here are three reasons why this is beneficial to everyone. Hybrid vehicles are all the rage right now, and for good reason. As customers demand more economy and automakers strive to increase the number of eco-mobility alternatives available, hybrid powertrains are the ideal solution. They're growing increasingly popular across Europe, and with the EU requiring 95 grammes of CO2 per kilometer for all new cars purchased after 2020, the hybrid revolution is here to stay. Everyone wins since the hybrid's combination of a normal combustion engine, an electric motor, and a battery pack gives improved fuel economy, reduced operating costs, and cleaner air. Hybrid Vehicle Powertrain Systems integrate traditional powertrain components, such as an internal combustion engine and transmission, with innovative electric components, such as an electric motor, power electronics, and high voltage energy storage, such as a battery. AVL's Hybrid Powertrain System development efficiently combines experience in the various single components with ability to integrate these components into a system geared to achieve CO2/fuel consumption reduction objectives.
How has COVID-19 had a significant negative impact on the Automotive Powertrain Market?
The automotive industry has shown tremendous resilience over the past few months. New car sales in China, Europe, and the US have increased year-over-year over the past few months, after rebounding after experiencing an economic downturn in the spring of 2020. However, despite encouraging reports of vaccine progress, numerous risks remain and we continue to predict that sales in Europe and the United States will not return to pre-COVID-19 levels until as early as 2023. Meanwhile, China's recovery continues to accelerate, with around 30 million new cars expected to be sold by 2025.
Automakers that build their vehicles on a just-in-time (JIT) basis and rely on uninterrupted supplies of materials and components on a timely basis have felt the impact greatly. When it comes to production, with just one missing part, the production line is shut down, and the catastrophic ramifications of a material or part shortage spread quickly throughout the supply chain. Looking back a year later, this article identifies five major impacts of COVID-19 on the automotive industry.
How this Report Will Benefit you?
Visiongain’s 800+ page report provides 540 tables and 524 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global automotive powertrain market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Automotive Powertrain. Get the financial analysis of the overall market and different segments including drive type, vehicle type, fuel type, application and capture higher market share. We believe that high opportunity remains in this fast-growing automotive powertrain market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the current market drivers?
Consumer Spending On EVs Continues to Rise, While Government Support Stabilizes
In 2020, consumers spent USD 120 billion on electric vehicle purchases, a 50 percent increase over 2019, which translates to a 41 percent increase in sales and a 6 percent increase in average costs. The increase in average pricing reflects the fact that Europe, where prices are higher on average than in Asia, accounted for a larger share of new electric car registrations. In 2020, the global average BEV price was approximately USD 40 000, while the PHEV price was around USD 50 000. In 2020, governments throughout the world spent USD 14 billion on direct purchase incentives and tax breaks for electric vehicles, a 25% increase year on year. Despite this, the percentage of government incentives in overall EV investment has been declining, from around 20% in 2015 to 10% in 2020.
Vehicle Market Requirements for More Fuel-Efficient Vehicles Are Driving All Automotive Companies
Today's car market demands for more fuel-efficient automobiles force all automotive businesses to seek cost-effective new solutions. The standards for reducing fuel usage vary per country, but the common criterion is less. This has increased the urgency with which avl must collaborate with car manufacturers and suppliers to develop these solutions. It is very much in line with avl's aim to bring to market novel electrified powertrain solutions by using core knowledge in the system optimization of the internal combustion engine, transmission, battery, controls, and electric motor technology.
Vehicles with ICE Powertrains Are Far Cheaper to Buy
ICE will not go away any time soon. Vehicles using ICE powertrains are far less expensive to purchase and are expected to remain so in the future, making them the realistic alternative in emerging nations. Furthermore, ICE vehicles are more adaptable—ICE powertrains are seen in everything from bikes to tractors and semis. They operate in all terrains, at all elevations, and in all weather conditions; as the temperature decreases, so does battery life. Meanwhile, ICE technology is advancing. Gas-powered automobiles may be cleaner and use less fuel with innovative engine designs and technology. Average estimated real-world CO2 emissions are expected to decline 12 grammes per mile (g/mi) to 344 g/mi for the 2020 model year, while fuel efficiency is expected to climb 0.8 miles per gallon (mpg) to 25.7 mpg. There are also "green" ICE variants, such as natural-gas-powered city buses.
Development of Next Generation Coolants for Meeting Future Cooling Challenges in EV/Hybrid Vehicle Applications
Water has the maximum heat capacity by weight and volume, as well as the highest thermal conductivity among fluids, followed by glycols for anhydrous fluids. As a result, water-glycol mixtures, as demonstrated in engine coolant circuits, are the state-of-the-art for cooling batteries. Thermal management advances in EV/Hybrid cars aim to boost the heat capacity of fluids by spreading nanosized particles into the fluid. Global nanofluid research initiatives have the scientific breadth and great potential payback to usher in a cooling technology revolution. Nanofluid is a new type of thermal cooling fluid developed by dispersing solid particles ranging in size from 20 to 60 nm in typical water or oil-based fluids. The nano particles have a higher surface area and contribute to the fluid's thermal cooling capabilities. Furthermore, the suspended nanoparticles greatly increase thermal cooling, and the nanofluid has significantly greater heat conductivity and heat transfer coefficient than the standard coolant utilised in traditional vehicle cooling systems.
Competitive Landscape
The major players operating in the automotive powertrain market are Aisin Seiki Co. Ltd, Borgwarner Inc, General Motor, JTEKT Corporation, GKN Plc, Hella KGaA Hueck and Co, Yamaha Motors, Toyota Motors, Polaris Industries, Suzuki Motors Corpoartion, AVTEC, Textron Industries, Hisun Motors Corporation, Valeo SA, Magna International Inc., These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
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About Visiongain
Visiongain is one of the fastest growing and most innovative, independent, market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports mean that you can have a bespoke piece of market intelligence customized to your very own business needs.
