A report from Transparency Market Research, titled “Global Powertrain Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2024,” provides the latest market intelligence. According to the report, the global powertrain market is projected to expand at a CAGR of 5.30% during the forecast period from 2014 to 2024. In 2013, the global powertrain market was worth around US$365.6 bn and by 2024, the market is projected to be worth US$524.6 bn.
Major Key Players of the Powertrain Market are:
Valeo, Magna International Inc., Denso Corporation, General Motors Company, and Ford Motor Company.
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It is worthy of noting here some of the factors that are shaping up the future of the global powertrain market. These include the following:
- Engine downsizing and automated transmission are the next big things in the market because for reasons of environmental conservation, need for reducing fuel emission is only going to increase in the coming few years. Besides government across the globe are trying to cut down carbon dioxide emission, helping the growth of global powertrain market over the forecast period.
- Demand for high traction, towing capacity and acceleration is also underscoring growth of global powertrain market over the forecast period from 2014 to 2024. The reason behind this growth is the need to address challenges posed by rugged terrains and poor weather conditions.
A powertrain system forms one of the key, primary components of a vehicle. The powertrain features all of the components that generate power for the vehicle and transmit the same to the wheels, allowing the vehicle to move. The components of a powertrain system include transmission, drive shafts, engine, final drive, and differentials. Furthermore, the overall performance of the vehicle and its fuel economy depend on the attributes of the powertrain system.
The global powertrain market is driven by the growing demand for environment-friendly vehicles, stringent government regulations, and the technological advancement in powertrain systems to improve fuel efficiency. On the other hand, the global powertrain system market is suppressed by the elevated cost of powertrain systems. Moreover, the global powertrain system market will also be challenged by the trend of oligopolistic powertrain suppliers.
Key segments of the global powertrain market
Global Powertrain Market: By Components
- Drive Shafts
- Final Drive
Global Powertrain Market: By Type of Vehicle
- Off Road Vehicles
- Construction Equipment
- Defence Vehicles
- Farm tractors
– To study and analyze the global Powertrain consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Powertrain market by identifying its various sub-segments.
– Focuses on the key global Powertrain manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Powertrain with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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