Automotive Powertrain Market Updates

Automotive Powertrain Market size was valued at USD 808.4 Billion in 2023 and is poised to grow from USD 879.54 Billion in 2024 to USD 1726.98 Billion by 2032, growing at a CAGR of 8.8% during the forecast period (2025-2032).

For both ICE and electric vehicles, these players provide a wide selection of automobile powertrains. The businesses' main goal is to expand their product offers by supplying cutting-edge, technologically advanced goods. These top suppliers are also concentrating on strategic activities including regional expansions, acquisitions, mergers, partnerships, and collaborations to boost their market positions 'Aisin Seiki Co., Ltd. (Japan) ', 'American Axle & Manufacturing Holdings, Inc. (United States) ', 'AVL List GmbH (Austria) ', 'BorgWarner Inc. (United States) ', 'Continental AG (Germany) ', 'Dana Incorporated (United States) ', 'BorgWarner Inc (United States) ', 'DENSO Corporation (Japan) ', 'Eaton Corporation plc (Ireland) ', 'FORVIA (France) ', 'Melrose Industries (United Kingdom) ', 'JATCO Ltd. (Japan) ', 'Magna International Inc. (Canada) ', 'MAHLE GmbH (Germany) ', 'Mitsubishi Electric Corporation (Japan) ', 'Ricardo plc (United Kingdom) ', 'Robert Bosch GmbH (Germany) ', 'Schaeffler AG (Germany) ', 'Tenneco Inc. (United States) ', 'Valeo SA (France) ', 'ZF Friedrichshafen AG (Germany)'

With the rising cost of fuel and concerns about environmental sustainability, there is a growing demand for vehicles that are more fuel-efficient and emit fewer emissions. Powertrain technologies such as hybrid powertrains, electric powertrains, and turbocharged engines are becoming increasingly popular as they offer improved fuel economy and reduced emissions.

In terms of market share among the key market regions, the Asia Pacific region is expected to have the biggest share, at 60.0%, in 2023. among the main markets and countries for the manufacture of automobiles, along with Japan, China, and India. The Asia Pacific area's expansion is mostly attributed to rising disposable income, accelerating urbanization, and a fiercely competitive market that encourages car ownership throughout the region.