Automotive Engine Market, 38% of Growth to Originate from APAC, Technavio

News provided by

Apr 29, 2024, 15:30 ET

NEW YORK, April 29, 2024 /PRNewswire/ -- The global automotive engine market size is estimated to grow by 14.23 million units from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 3.43% during the forecast period. APAC is estimated to contribute 38%. to the growth of the global market.

Get region specific data - Download a FREE Sample

Technavio has announced its latest market research report titled Global Automotive Engine Market 2023-2027

The Automotive Engine Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027.

Region Outlook

North America
Europe
APAC
South America
Middle East & Africa

3. APAC - Researchers predict that the Asia-Pacific (APAC) region will contribute about 38% to the global market's growth in the upcoming period. They've explained how trends and factors in this area will shape the market.

China and India produce the most in APAC, mainly because they have lots of car factories. As component prices drop and better systems become available, more companies might start making things in APAC, especially in China.

For detailed insights on the market share of rest of the regions and countries- Buy This Report Now

Research Analysis

In the current automotive landscape, the engine market is undergoing significant transformations due to lockdowns and travel restrictions. Traditional internal combustion engines, including those used in heavy automobiles, face increasing scrutiny as emission standards tighten. However, innovations such as engine control units, compact engines, and hybrid engines offer solutions. Hybrid electric vehicles, with their zero emissions and flexibility, are gaining popularity.

Simulink models and control strategies facilitate simulations of engine production and electrification processes. Lightweight vehicles made from materials like aluminum alloys contribute to reduced fuel consumption and vehicle emissions. The lifecycle of engines is evolving, with a focus on engine control units, torque curves, and engine cycles. Hybrid engines, including those used in the Neptun Ship, are becoming increasingly common. As the industry moves towards electrification, the role of control units in managing electricity and car pollutants becomes crucial.

Market Overview

The Automotive Engine Market encompasses a comprehensive range of vehicles' powertrains, including conventional internal combustion engines and emerging electric and hybrid models. The market's growth is driven by factors such as increasing consumer preference for fuel-efficient and eco-friendly vehicles, stringent emission regulations, and technological advancements in engine design.

Components like cylinder blocks, cylinder heads, pistons, connecting rods, crankshafts, camshafts, valves, fuel systems, and exhaust systems are integral to engine production. The market's future outlook is promising, with a shift towards electric and hybrid vehicles and the continuous development of more efficient internal combustion engines.

To understand more about this market- Download a FREE Sample Report in minutes!

Key Topics Covered:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio