New York, NY 28 Jan 2020 : The Global Automotive Powertrain System Market is anticipated to reach around USD 892 billion by 2026 according to a new research published by Polaris Market Research. The passenger vehicle segment dominated the global automotive powertrain system market in 2017. In 2017, Asia-Pacific accounted for the majority share in the global Automotive Powertrain System market.
The significant increase in demand for passenger and commercial vehicles, and growth in global automotive industry boosts the demand for automotive powertrain system. The demand for automatic transmission has increased significantly, thereby supporting market growth. The growing trend of downsized engines further boosts the adoption. The introduction of stringent government regulations regarding carbon emissions has encouraged market players to launch efficient and eco-friendly automotive powertrain system. New emerging markets, emerging consumer demographics, and technological advancements would provide growth opportunities for Automotive Powertrain system market in the coming years.
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In 2017, Asia-Pacific accounted for the highest share in the global Automotive Powertrain System market. The governments in the region have introduced stringent regulations regarding vehicular emissions owing to environmental concerns. The growing demand for automobiles in the region, and technological advancements would accelerate the demand for automotive powertrain system systems during the forecast period. The increasing economic growth, and increasing demand from countries such as China and India further increases the adoption of automotive powertrain systems in the region. The high penetration of electric vehicles in the region further promotes the adoption of automotive powertrain systems.
The well-known companies profiled in the Automotive Powertrain Systems market report include Ford Motor Company, Hyundai Motor Company, Volkswagen AG, ZF Friedrichshafen AG, Toyota Motor Corporation, General Motors Company, Aisin SeikiCo., Ltd, Delphi Automobile, Denso Corporation, and GKN PLC. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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