Transparency Market Research (TMR), a market intelligence and research firm, has recently published a research study on the global powertrain market, estimating its market value by 2020 at US$524.60 billion, developing at a CAGR of 5.3% during the period from 2014 to 2020.The report, titled “Global Powertrain Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, determines the overall value of the global powertrain market in 2013 at US$365.67 billion. It analyzes the global market for powertrains on the basis of the vehicle type, component used, and the regional markets.On the basis of vehicle type, cars, ICV, LCV, HCV, construction equipment, farm tractors, off-road vehicles, and defense vehicles are the major segments of the global powertrain market. The cars market occupied the leading position in the overall market in 2013.
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.
Based on type of vehicle, the market can be sub-divided into cars, LCV’s, ICV’s, HCV”s, Off Road Vehicles, Construction Equipment, Defense Vehicles and Farm Tractors. Increasing demand for cars in Asia Pacific is one of the major factors fueling the demand for powertrain systems. Consumers are becoming more environment conscious which provides an opportunity to develop more fuel efficient and environmental friendly powertrain systems. The increase in demand for petroleum provides an opportunity to develop powertrain which runs on alternative fuel source.
In addition, the demand for cars and construction vehicles are expected to experience exponential growth owing to increasing disposable income and development of new infrastructures in developing countries such as India, China, Japan and among others.
Major market participants profiled in this report include Continental AG, Denso Corporation, Robert Bosch, General Motors Company, Delphi Automotive Plc and Hyundai Mobis Co. Ltd. among others.
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