The global market for vehicle engines and engine parts manufacturing reached $261.3 billion in 2016. This market is estimated to reach $323.7 billion in 2020 at a compound annual growth rate (CAGR) of 5.5% for 2016-2020.
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– 93 data tables and 9 additional tables
– An overview of the global market for vehicle engines and engine parts manufacturing
– Analyses of global market trends, with data from 2012-2016, estimates for 2017 and projections of compound annual growth rates (CAGRs) through 2020
– Coverage about the manufacturing characteristics of vehicle engines and engine parts, and regional and country analysis
– Analysis of factors driving the growth of the industry, including technological advancements in engine manufacturing and rapid urbanization.
– A look at the latest market trends and restraints impacting the market and detailed comparison of the market with macro-economic factors and industry indicators
– Profiles of major players in the industry, including: Cummins Inc., MAHLE GmbH, Denso Corporation, Delphi Automotive PLC, Federal-Mogul Holdings LLC, General Motors Company, BMW AG
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Global vehicle engine and engine parts manufacturing market is currently in a very crucial phase of transformation. Low oil prices and increased economic activity because of a rise in disposable income drove the vehicle engine and engine parts manufacturing market. This trend was mainly driven by countries in Asia, South America, and Africa where a drastic growth in the automotive manufacturing sector led to increased demand for vehicle engine and engine parts. At the same time, rise in emission control regulations and automobile recalls affected growth of the vehicle engine and engine parts manufacturing market. In addition, expanding automotive industry in emerging countries, rising global population, and technological advancements will continue to help generate demand for vehicle engine and engine parts market in the future.
The market for vehicle engine and engine parts manufacturing reached a value of nearly $261 billion in 2016 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% to reach $324 billion by 2020.
The market for vehicle engine and engine parts manufacturing is marginally fragmented with a few large players and a number of smaller companies. Major players in the market are Cummins, MAHLE, DENSO Corporation, Delphi Automotive PLC, Federal Mogul Corporation, among others.
Vehicle engine parts accounted for the largest share of the market for vehicle engine and engine parts manufacturing in 2016 at REDACTED. The highest growth is projected to come from vehicle engines market,which is forecast to grow at a CAGR of REDACTED.
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Asia Pacific is the largest market for vehicle engine and engine parts manufacturing, accounting for REDACTED of the global market. It was followed by North America and Western Europe. Going forward, the Middle East is expected to witness the fastest growth in the vehicle engine and engine parts manufacturing market, estimated at a CAGR of REDACTED, followed by Asia Pacific, expected to grow at a CAGR of REDACTED.
China is the largest market in terms of value for vehicle engine and engine parts manufacturing. India and China are expected to have the fastest growth, growing at a CAGR of REDACTED and REDACTED, respectively.
The market is challenged by increasing environmental concern regarding the use of fossil fuel, reduction in free trade, and narrowing cost price gap over the forecast period.