Global Powertrain Market- Industry Analysis, Size, Growth and Forecast 2014 - 2020

A report from Transparency Market Research, titled “Global Powertrain Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” 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 2020. In 2013, the global powertrain market was worth around US$365.6 bn and by 2020, the market is projected to be worth US$524.6 bn.

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.

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Broadly, the global powertrain market is segmented by component, vehicle type, and geography. On the basis of component, the global powertrain market is segmented into final drive, differentials, drive shafts, transmission, and engine. By vehicle type, the global powertrain market is divided into farm tractors, defense vehicles, off-road vehicles, HCVs, ICVs, LCVs, cars, and construction equipment.