Automotive Powertrain Systems Market Size - By Powertrain Type (Internal Combustion Engine, Hybrid Powertrain, Electric Powertrain), Vehicle Type (Passenger Cars, LCVS, HCVS, Off-Highway Vehicles), Sales Channels (OEMS, Aftermarket) & Forecast, 2023 - 203

Automotive Powertrain Systems Market Size - By Powertrain Type (Internal Combustion Engine, Hybrid Powertrain, Electric Powertrain), Vehicle Type (Passenger Cars, LCVS, HCVS, Off-Highway Vehicles), Sales Channels (OEMS, Aftermarket) & Forecast, 2023 - 2032

Global Automotive Powertrain Systems Market will witness 8.2% CAGR between 2023 and 2032, propelled by strategic collaborations and deals among industry giants. These partnerships drive innovation, accelerating the development of efficient, eco-friendly powertrain solutions. For instance, in November 2023, Mahindra & Mahindra (M&M), a top SUV manufacturer in India, selected Valeo, a mobility technology leader specializing in electrification, to supply the electric powertrain for a segment of their Born Electric passenger vehicle range. Additionally, Valeo will provide the on-board charger combo for their electric utility vehicles. The substantial order, reaching nearly 1 billion dollars, was accounted for in Valeo's Q3 results under their high voltage powertrain orders.

Leading companies leverage joint ventures and agreements to advance electric vehicle technology, enhance fuel efficiency, and optimize performance. The automotive powertrain systems market outlook reflects a collective push for sustainable mobility solutions, underlining a transformative era in automotive powertrain systems shaped by strategic alliances and collaborations fostering technological advancements.

The overall Automotive Powertrain Systems Market is classified based on powertrain type, vehicle type, and region.

Gasoline segment will undergo significant development from 2023 to 2032. Gasoline-based powertrains will gain prominence due to their established infrastructure and affordability. Their efficiency and performance continue to cater to a global consumer base. As advancements enhance fuel efficiency and reduce emissions, gasoline-powered systems maintain a substantial automotive powertrain systems market share, representing a balance between traditional combustion engines and evolving eco-friendly alternatives within the automotive powertrain systems domain.

Light commercial vehicles (LCVs) segment will register a noteworthy CAGR from 2023 to 2032. LCVs rely on efficient powertrain systems for cargo transportation, balancing performance and fuel economy. Innovations in powertrain technology cater specifically to LCVs, optimizing load capacity and enhancing maneuverability. As logistics and e-commerce thrive, the demand for agile and fuel-efficient LCVs continues to surge, marking them as pivotal contributors to the automotive powertrain systems market growth and evolution.

Asia Pacific automotive powertrain systems industry will showcase a commendable CAGR from 2023 to 2032. Rapid industrialization and urbanization drive demand for efficient powertrains across various vehicle segments. Embracing hybrid and electric technologies, the region emphasizes eco-friendly solutions.

Robust economic growth and a burgeoning middle class propel the market, shaping innovations in powertrain systems. The Asia Pacific stands as a dynamic hub, dictating trends and driving advancements in automotive powertrains, meeting the evolving demands of this diverse and vast market. For instance, in November 2023, Isuzu's Fujisawa plant announced that it is underway creating a new facility dedicated to developing and testing powertrain systems and components for commercial Electric Vehicles (EVs). This facility will focus on various elements, such as batteries, motors, and thermal management systems, contributing to the advancement of EV technology in the commercial sector.