Global Vehicle Engine And Engine Parts Market Report 2024

Vehicle Engine And Engine Parts Global Market Report 2023 – By Product Type (Vehicle Engines, Vehicle Engine Parts), By Fuel Type (Gasoline (Petrol), Diesel, Gas, Other Fuel Types), By Placement Type (Inline Engine, W Engine and VType) – Market Size, Trends, And Global Forecast 2023-2032

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The vehicle engine and engine parts are components that generate the power needed to propel a car or other vehicle.

The main types of vehicle engines and engine parts are vehicle engines and vehicle engine parts. Vehicle engines are referred to as the engines that are used for vehicles, and there are many engine propulsion systems involving the parts of the vehicle. The various placement types are in-line engines, W engines, and V-types. The various fuel types are gasoline (petrol), diesel, gas, and other fuel types.

The global vehicle engine and engine parts market 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

The global vehicle engine and engine parts market size will grow from $401.40 billion in 2022 to $438.55 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global vehicle engine and engine parts is expected to grow to $600.27 billion in 2027 at a CAGR of 8.2%.

The increasing manufacturing of automobiles is expected to drive the vehicle engine and engine parts market. Automobile manufactures use different engine components and engine parts for manufacturing a vehicle. According to statistics from the International Organization of Motor Vehicle Manufacturers, a Paris based international automobile trade association, the total number of vehicles produced globally, from January to September 2021 increased to 57.2 million units from 52.1 million units in 2020, during the same period. Therefore, the increasing production of vehicles around the world is expected to drive the vehicle engine and engine parts market growth.

Major players in the vehicle engine and engine parts market are Cummins, Toyota Motor, Denso Corporation, Delphi Automotive PLC., Federal-Mogul Corporation, Mahle GmbH, BMW AG, General Motors, Volkswagen AG, and Fiat Automobiles SpA.

The growth of the vehicle engine and engine parts market is restricted by the growing popularity of electric vehicles all over the world. These battery-operated cars are not only easier to maintain but also do not contribute to air pollution. The popularity of the electric car market is backed up by several government initiatives, such as in Norway, where the drivers of zero-emissions cars are not only exempted from road tax but also exempted from 25% VAT on sales, reduced road and ferry tolls and parking costs, and access to bus lanes. the number of electric cars employed on the road reached 10 million in 2020. In 2021, According to mobi.com, China remained the world's largest car market. According to reports by the International Energy Agency (IEA), in 2021, electric car sales were more than doubled reaching 6.6 million, representing close to 9% of the global car market. With the increasing popularity of electric vehicles, the demand for engine-operated vehicles is negatively impacted, thus causing an overall fall in demand for the vehicle engine and engine parts market growth.

Declining sales in the automobile sector restrict the growth of the vehicle engine and engine parts market. The decline in demand for automobiles in various economies causes lower demand for new engines and engine parts manufacturers. According to the International Organization of Motor Vehicle Manufacturers, global car production fell by 16% in 2020. In India, the Society of Indian Automobile Manufacturers said, there was decline in passenger car sales from 1,541,866 in 2021 to 1,467,056 units in 2022.

The companies operating in the vehicle engine and engine parts market are investing in improving the fuel efficiency of internal combustion engines. Manufacturers are producing engines that deliver more power and improve fuel economy. Improving the fuel efficiency of vehicle engines serves as an economical solution as well as reduces the emission of harmful pollutants into the air. For instance, to improve fuel efficiency, companies are investing in ' direct fuel injection' technology in which the direct injection systems spray a fine mist of fuel directly into the cylinder, helping keep the engine's temperature down and increasing fuel efficiency. Also, as reported by the U.S Department of Energy, direct fuel injection can improve engine efficiency by 12%. Thus, with increased concerns for the environment and to provide a better value for money, companies operating in the market are investing more towards improving the fuel efficiency of the engines.

In May 2022, Melling Engine Parts, a US-based manufacturer of aftermarket oil pumps and related products, acquired Sigma Engineering for an undisclosed amount. Through this acquisition, Melling Engine Parts will focus on controlling their supply and quality. Sigma Engineering is a US-based diesel and gas engine parts company.

Asia-Pacific was the largest region in the vehicle engine and engine parts market in 2022. Western Europe was the second largest market in the global vehicle engine and engine parts market analysis. The regions covered in the global vehicle engine and engine parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the vehicle engine and engine parts include Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, USA, and Australia.

The vehicle engine and engine parts market consist of sales of engine, transmission, driveshaft, axles, head, block, oil sump and differential. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The vehicle engine and engine parts market research report is one of a series of new reports from The Business Research Company that provides vehicle engine and engine parts market statistics, including global market size, regional shares, competitors with a vehicle engine and engine parts market share, detailed vehicle engine and engine parts market segments, market trends and opportunities, and any further data you may need to thrive in the vehicle engine and engine parts industry. This vehicle engine and engine parts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

    Table Of Contents

    1. Executive Summary

    2. Vehicle Engine And Engine Parts Market Characteristics

    3. Vehicle Engine And Engine Parts Market Trends And Strategies

    4. Vehicle Engine And Engine Parts Market – Macro Economic Scenario

    4.1 COVID-19 Impact On Vehicle Engine And Engine Parts Market

    4.2 Ukraine-Russia War Impact On Vehicle Engine And Engine Parts Market

    4.3 Impact Of High Inflation On Vehicle Engine And Engine Parts Market

    5. Vehicle Engine And Engine Parts Market Size And Growth

    5.1. Global Vehicle Engine And Engine Parts Historic Market, 2017-2022, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Vehicle Engine And Engine Parts Forecast Market, 2022-2027F, 2032F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Vehicle Engine And Engine Parts Market Segmentation

    6.1. Global Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Vehicle Engines

    Vehicle Engine Parts

    6.2. Global Vehicle Engine And Engine Parts Market, Segmentation By Fuel Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Gasoline (Petrol)

    Diesel

    Gas

    Other Fuel Types

    6.3. Global Vehicle Engine And Engine Parts Market, Segmentation By Placement Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    In-line Engine

    W Engine

    V-Type

    7. Vehicle Engine And Engine Parts Market Regional And Country Analysis

    7.1. Global Vehicle Engine And Engine Parts Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    7.2. Global Vehicle Engine And Engine Parts Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    8. Asia-Pacific Vehicle Engine And Engine Parts Market

    8.1. Asia-Pacific Vehicle Engine And Engine Parts Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    9. China Vehicle Engine And Engine Parts Market

    9.1. China Vehicle Engine And Engine Parts Market Overview

    9.2. China Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

    10. India Vehicle Engine And Engine Parts Market

    10.1. India Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    11. Japan Vehicle Engine And Engine Parts Market

    11.1. Japan Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    12. Australia Vehicle Engine And Engine Parts Market

    12.1. Australia Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    13. Indonesia Vehicle Engine And Engine Parts Market

    13.1. Indonesia Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    14. South Korea Vehicle Engine And Engine Parts Market

    14.1. South Korea Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    15. Western Europe Vehicle Engine And Engine Parts Market

    15.1. Western Europe Vehicle Engine And Engine Parts Market Overview

    15.2. Western Europe Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    16. UK Vehicle Engine And Engine Parts Market

    16.1. UK Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    17. Germany Vehicle Engine And Engine Parts Market

    17.1. Germany Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    18. France Vehicle Engine And Engine Parts Market

    18.3. France Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    19. Eastern Europe Vehicle Engine And Engine Parts Market

    19.1. Eastern Europe Vehicle Engine And Engine Parts Market Overview

    19.2. Eastern Europe Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    20. Russia Vehicle Engine And Engine Parts Market

    20.1. Russia Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    21. North America Vehicle Engine And Engine Parts Market

    21.1. North America Vehicle Engine And Engine Parts Market Overview

    21.2. North America Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    22. USA Vehicle Engine And Engine Parts Market

    22.1. USA Vehicle Engine And Engine Parts Market Overview

    22.2. USA Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    23. South America Vehicle Engine And Engine Parts Market

    23.1. South America Vehicle Engine And Engine Parts Market Overview

    23.2. South America Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    24. Brazil Vehicle Engine And Engine Parts Market

    24.1. Brazil Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    25. Middle East Vehicle Engine And Engine Parts Market

    25.1. Middle East Vehicle Engine And Engine Parts Market Overview

    25.2. Middle East Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    26. Africa Vehicle Engine And Engine Parts Market

    26.1. Africa Vehicle Engine And Engine Parts Market Overview

    26.2. Africa Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    27. Vehicle Engine And Engine Parts Market Competitive Landscape And Company Profiles

    27.1. Vehicle Engine And Engine Parts Market Competitive Landscape

    27.2. Vehicle Engine And Engine Parts Market Company Profiles

    27.2.1. Cummins

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. Toyota Motor

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. DENSO Corporation

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Delphi Automotive PLC

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. Federal Mogul Corporation

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    29. Key Mergers And Acquisitions In The Vehicle Engine And Engine Parts Market

    29. Vehicle Engine And Engine Parts Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Table 3: Global Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 4: Global Vehicle Engine And Engine Parts Market, Segmentation By Fuel Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 5: Global Vehicle Engine And Engine Parts Market, Segmentation By Placement Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 6: Global Vehicle Engine And Engine Parts Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 7: Global Vehicle Engine And Engine Parts Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 8: Asia-Pacific, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 9: China, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 10: India, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 11: Japan, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 12: Australia, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 13: Indonesia, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 14: South Korea, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 15: Western Europe, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 16: UK, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 17: Germany, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 18: France, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 19: Eastern Europe, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 20: Russia, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 21: North America, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 22: USA, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 23: South America, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 24: Brazil, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 25: Middle East, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 26: Africa, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 27: Cummins Financial Performance
  • Table 28: Toyota Motor Financial Performance
  • Table 29: DENSO Corporation Financial Performance
  • Table 30: Delphi Automotive PLC Financial Performance
  • Table 31: Federal Mogul Corporation Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Figure 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Figure 3: Global Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 4: Global Vehicle Engine And Engine Parts Market, Segmentation By Fuel Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 5: Global Vehicle Engine And Engine Parts Market, Segmentation By Placement Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 6: Global Vehicle Engine And Engine Parts Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 7: Global Vehicle Engine And Engine Parts Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 8: Asia-Pacific, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 9: China, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 10: India, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 11: Japan, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 12: Australia, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 13: Indonesia, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 14: South Korea, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 15: Western Europe, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 16: UK, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 17: Germany, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 18: France, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 19: Eastern Europe, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 20: Russia, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 21: North America, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 22: USA, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 23: South America, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 24: Brazil, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 25: Middle East, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 26: Africa, Vehicle Engine And Engine Parts Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 27: Cummins Financial Performance
  • Figure 28: Toyota Motor Financial Performance
  • Figure 29: DENSO Corporation Financial Performance
  • Figure 30: Delphi Automotive PLC Financial Performance
  • Figure 31: Federal Mogul Corporation Financial Performance
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