Albany, NY, Aug. 05, 2016 (GLOBE NEWSWIRE) -- The global powertrain market is slated to expand at a 5.30% CAGR from 2014 to 2020, growing from a value of US$365.6 bn in 2013 to US$524.6 bn by 2020. This growth can be attributed to the rising demand for environment-friendly vehicles, need for fuel efficiency and reduction in harmful emissions, implementation of strict government norms, and technological developments in recent years. Trends such as powertrain systems working on alternative fuels, hybrid powertrains, and noise-free, environment-friendly technologies hold ample opportunities for vehicle manufacturers. However, the oligopolistic nature of powertrain supplier landscape and high cost of powertrain systems impedes the growth of the global market.
The report highlights ongoing economic, consumer, geo-political, and social trends impacting the powertrain market and provides clients with accurate forecast for the period 2014 to 2020. The study also offers readers insight into future market trends that will affect the demand over the next four years. A competitive evaluation of different market segments based on module, type, as well as a detailed cross-sectional assessment of the global powertrain market across various geographical segments has also been included in the research study.
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The automotive sector is one of the booming sectors currently and is expected to witness considerable growth during the forecast period. The powertrain market is presently more inclined towards fuel economy by downsizing the engines and reduction in emissions to make the vehicles environmental friendly with improved performance.
Powertrain system is one of the primary components of the vehicle. It consists of all the components that generates power for the vehicle and enables it to move. The powertrain system includes engine, drive shafts, transmission, differentials and final drive. The fuel economy, emissions or in short the overall performance of the vehicle depends on the total powertrain system.
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Asia Pacific is one of the most attractive regions in automotive powertrains market. High demand for automobiles, increasing consumption expenditure and up gradation of automobile powertrain system is the major factors fueling the demand in the automotive powertrain market. A lot of infrastructure development is also taking place in the Asia-Pacific; this is also driving the automotive market as a whole and in the process the powertrain market. Moreover, the developing countries such as India, Japan and China are further boosting the market with the production of huge number of vehicles in the Asia Pacific. Rest of the world (ROW) followed Asia Pacific in terms of market attractiveness. Presence of countries like Brazil and UAE has lead to the considerable growth in the powertrain market due to increased demand of automobiles. However, Europe is the largest market for powertrains. The substantial number of regulations to monitor environmental pollution and presence of elite automobile brands like BMW, Mercedes, and Volkswagen etc are boosting the growth of this market in Europe.
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The Porter’s Five Forces analysis and market attractiveness analysis included in the report provide insight into market dynamics and industry competition.
The report also provides company market share analysis of the various industry participants along with company overview, financial overview, business strategies and recent developments in the field of powertrain market. Major market participants profiled in this report include Continental AG, Denso Corporation, General Motors Company, Delphi Automotive Plc, Hyundai Motor Co. Ltd., and Magna Powertrain among others.
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