Global Car Powertrain Market Analysis & Trends - Industry Forecast to 2030

Global Car Powertrain Market Analysis & Trends - Industry Forecast to 2030

Car Powertrain: Market Size

From $933.71 billion in 2024, the global Car Powertrain Market is projected to reach $1,457.15 billion by 2030. Based on our analysis the market is expected to grow at a CAGR of 7.7% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include growing inclination toward electric vehicles, increasing demand for adoption of automation in vehicle manufacturing and increasing car penetration in emerging countries.

Global Car Powertrain Market: Market Dynamics

Digitization of the automotive industry and adoption of ML and Big Data analysis tools in the supply chain of the automotive industry, and the growing popularity of electric vehicles for long-term cost savings and to curb CO2 emissions are some of the factors driving the market.

On the other hand, the local governments of majority high population urban areas across the globe are emphasizing on the adoption of public transport is likely to obstruct the profit boundaries. In addition, integrated digitization will further boost the Car Powertrain market.

Impact of COVID-19 on Car Powertrain

The wide spread of the pandemic across the globe has led to a sharp decline of production and delivery of motorcycles, globally, due to a full or partial closing of manufacturing and distribution facilities. The COVID-19 pandemic has caused a majority of businesses across the globe to crumble owing to the forced shutdown of production and manufacturing activities, which negatively affect major companies in the automotive industry. Since the start of the COVID-19 crisis, the global automotive industry has witnessed a series of blows and surprises. However, mass inoculation programs and a significant drop in coronavirus cases are anticipated to revive the growth of the automotive industry and car powertrain market. Together with integrated digitization and surging interest in electric vehicles (EVs) is anticipated to generate future revenue opportunities for stakeholders in the car powertrain market.

By Car Type

Compact Segment Dominate the Market in 2024

The compact segment made huge revenue in 2024 and growing its prominence during the forecast period. As they provide better fuel efficiency and are easy to drive and park on roads comprising of high traffic. There is a variety of cars that are available in the market as per consumer buying patterns. Compact cars are small cars that offer a different set of features such as larger space relative to economy cars at the expense of fuel efficiency expected to register notable growth in terms of sales volume. Demand for compact vehicles across the globe is increasing, as they are more fuel-efficient and easy to maneuver.

By Geography

Europe Region is Leading in the Global Market Place

Europe region is likely to have a huge demand in the forecast period; owing to the presence of a highly developed auto industry in the area, with a high rate of adoption of advanced automotive technologies for the design and development of new vehicle models, is creating the demand for powertrain components. In addition, stringent emission regulations in countries of the region that have set permissible levels of CO2 emissions and a strict ban on internal combustion technology are paving the way for the popularity of electric vehicles. This, in turn, is creating opportunities in the car powertrain market of the province. The major presence of original equipment manufacturers and tier-1 suppliers across Europe, who have advanced research and development facilities for powertrain, is likely to boost the market in the region. The rise in demand for electric vehicles across Europe is also estimated to drive the market across Europe.

List of the Key Players Profiled in the Market Include:

• American Axle & Manufacturing
• Art Metal Mfg. Co., Ltd
• Bharat Forge
• Bridgestone Corporation
• Clarios
• Continental AG
• Denso Corporation
• Faurecia
• Linamar
• Magna International Inc.
• Mahle GmbH
• Michelin
• Rheinmetall AG
• Robert Bosch GmbH
• Sanjo Machine Works
• Tenneco Inc.
• ThyssenKrupp
• Valeo SA
• Yasunaga
• ZF Friedrichshafen AG

List of the Regions/Countries Profiled in the Market Include:

North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others