Automotive Engine Market Key Drivers, Size, Share, Trends, Growth, Analysis and Forecast To 2025
Automotive Engine Market Overview
Automotive Engine enables a vehicle to function efficiently and run smoothly without any trouble. Therefore, it is an important market. Market Research Future (MRFR) has published and released a research report about the global automotive engine market that anticipates growth for this market during the forecast period that would end in 2022. Analyzing the market structure, this report assays the future growth potential of the market. It observes the strategies of the key players in the market and follows the competitive developments like joint ventures, new product developments, mergers and acquisitions, research and developments (R & D) in the market.
The most important factors enriching the growth of global automotive engine market include growing demand for technologically advanced powered engines for the better performance of vehicles, rigid fuel economy regulatory norms, and rising disposable income. The global automotive engine market has been segmented on the basis of fuel, placement, vehicle type, and lastly, region. The fuel-based segmentation segments this market into diesel, gasoline, and others. On the basis of placement, the market has been segmented into the in-line engine and V-type engine. By vehicle type, the market has been segmented into passenger vehicles, light commercial vehicle (LCV), heavy commercial vehicle (HCV). Passenger vehicles are owned by citizens and are for personal use. Commercial vehicles are used for business purposes.
The regional segmentation of the global automotive engine market segments the market into regional markets known as North America, Europe, Asia Pacific, and rest of the world. According to the report, Asia Pacific is the leading market and estimated to grow during the forecast period. Holding the biggest share in the global market, it is growing with good speed. The reasons for the market growth in this region include rapid expansion in the automotive industry of the developing nations, and original equipment manufacturer (OEM) developing technologically advanced powered engines to gain high torque and performance. The most important country-specific markets in this region are China, India, and Japan, followed by the rest of the Asia Pacific region.
Markets in North America and Europe are expected to show limited growth because the presence of long-established original equipment manufacturers has already been established in these regions. Therefore, a strong base for the robust development and growth of the automotive engine market can be seen. Many key players of this market are based in Europe and North America. In North America, the most important country-specific markets are the United States of America (USA) and Canada, followed by the rest of North America. The USA is the strongest economy in North America. In Europe, the significant country-specific markets are France, Germany, Italy, and the United Kingdom (UK), followed by the rest Of Europe.
The key players in the global automotive engine market include AB Volvo (Sweden), Cummins Inc. (USA), Fiat S.PA. (Italy), Ford Motor Company (USA), General Motors (USA), Honda (Japan), Hyundai Motor Company (South Korea), Mitsubishi Heavy Industries (Japan), Scania AB (Sweden), and Volkswagen Group (Germany).
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