Global Vehicle Engine And Engine Parts Market Strategies 2024, Forecast To 2033
22 Jan, 2024
The market for vehicle engines and parts has shown robust growth, increasing from $427.27 billion in 2023 to $458.54 billion in 2024, marking a 7.3% CAGR. Historical growth is attributed to the industrial revolution, mass production of automobiles, environmental regulations, and global automotive manufacturing. Projections anticipate continued strong growth to $590.78 billion in 2028, with a 6.5% CAGR. Growth is associated with vehicle electrification, autonomous vehicles, lightweighting, fuel efficiency, 5G connectivity, and green energy. Major trends involve advanced materials, hybrid powertrains, digitalization, IoT, 3D printing, additive manufacturing, and circular economy.
Global Vehicle Engine And Engine Parts Market Key Driver
The growing manufacturing of automobiles globally stimulates the vehicle engine and engine parts market. With over 57.2 million vehicles produced globally from January to September 2021, the demand for various engine components and parts continues to rise, driving market growth.
Get A Free Sample Of The Global Vehicle Engine And Engine Parts Market ReportGlobal Vehicle Engine And Engine Parts Market Segments
The vehicle engine and engine parts market covered in this report 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
By Geography: The regions covered in the vehicle engine and engine parts market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the vehicle engine and engine parts market in 2023. Western Europe was the second largest region in the vehicle engine and engine parts market. The regions covered in the vehicle engine and engine parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Vehicle Engine And Engine Parts Industry Players
Cummins Inc., Toyota Motor Corporation, DENSO Corporation, Delphi Technologies PLC, Federal-Mogul LLC, MAHLE GmbH, Bayerische Motoren Werke Aktiengesellschaft, 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, CNH Industrial N.V.
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Vehicle Engine And Engine Parts Market Overview
The vehicle engine and engine parts are components that generate the power needed to propel a car or other vehicle.
Vehicle Engine And Engine Parts Global Market Report 2023 provides data on the global vehicle engine and engine parts market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The vehicle engine and engine parts market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.