The global powertrain and powertrain parts market size is expected to grow from $348.3 billion in 2021 to $384.79 billion in 2022 at a compound annual growth rate (CAGR) of 10.5%. The global powertrain and powertrain part market is then expected to grow to $551.13 billion in 2026 at a CAGR of 9.4%.
What is the Global Power Train And Power Train Parts Market?
The powertrain and powertrain parts market consists of sales of powertrain and powertrain parts and related services. The powertrain refers to a system that converts the power of the engine into a vehicle's movement. The powertrain parts include the engine, transmission, driveshaft, differentials, and axles among others. The vehicle's performance and efficiency are defined by its powertrain system and its related parts.
Get a Sample of the global power train and power train parts market report
https://www.thebusinessresearchcompany.com/sample.aspx?id=3874&type=smp
What drives the Global Power Train And Power Train Parts Market?
The powertrain and powertrain parts market is driven by the increasing demand for improved fuel efficiency. The amount of fuel consumed depends on the engine, the type of fuel used, and the efficiency with which the output of the engine is transmitted to the wheels. The powertrain system transmits the engine energy to the wheels of the vehicle and helps in reducing the speed of the engine to save fuel. According to a survey by Consumer Reports, 85% of American adults demanded that automakers should continue to improve fuel economy for all types of vehicles. The need to increase fuel efficiency promotes the development of new powertrain systems that are economical and more fuel-efficient.
Get the full global power train and power train parts industry report here
https://www.thebusinessresearchcompany.com/report/power-train-and-power-train-parts-global-market-report
Global Power Train And Power Train Parts Market Segments
The global power train and power train parts market is segmented:
By Component: Engine, Transmission, Drive Shafts, Differentials, Final Drive
By Technology: Hybrid, Automated
By Vehicle Type: Passenger Car (PC), Commercial Vehicle (CV), Off-Road Vehicles, Construction Equipment, Defence Vehicles, Agricultural Vehicles
By Geography: The regions covered in the power train and power train parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Power Train And Power Train Parts Global Market Report 2022provides market size and growth forecasts for the global power train and power train parts market, global power train and power train parts market share, power train and power train parts market segments and geographies, power train and power train parts market competitive landscape including leading competitors’ revenues, profiles and market shares. The power train and power train parts market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Power Train And Power Train Parts Industry Playersinclude Ford Motor Company, General Motors Company, Volkswagen AG, ZF Friedrichshafen AG, Delphi Technologies, Toyota Motor Corporation, JTEKT Corporation, Allison Transmission, BorgWarner Inc., and Hyundai Motor Company. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
