Automotive Engine Market

Automotive Engine Market Size (2023-2028):

The Global Automotive Engine Market was worth US$ 97.71 billion in 2022 and is anticipated to reach a valuation of US$ 115.69 billion by 2028 and is predicted to register a CAGR of 2.83% during 2023-2028.

With the arrival of the latest technological advances, the motor vehicle market should experience substantial growth. Due to factors such as strict regulatory standards for fuel economy and increasing demand for advanced technology engines for the best performance of vehicles. Besides, the increase in disposable income can also be attributed to growth in the car engine market, which will result in consumers spending more on high-end cars and commercial vehicles.

Market Drivers and Restraints:

The growing demand for construction equipment and auxiliary power offers many opportunities for growth in the market. The growth of the diesel engine market is poised to expand due to technological proliferation and rising gas prices. Massive investments in the mining and construction industries are also expected to stimulate market demand over the next few years. Increased penetration in several application areas, including construction, automobiles, energy, gas, etc., is expected to have an additional impact on the growth of the diesel engine market over the forecast period. Problems such as the high-cost diesel engine can hinder market growth over the forecast period.

Market Key Developments:

• In January 2018, the state of Alabama announced that all Alabama auto workers had built nearly 1.6 million engines in 2018 for Hyundai, Honda, Toyota, and Navistar. Hyundai Motor Manufacturing Alabama produced 597,313 engines in 2018, Honda 356,439, and 629,386 engines in 2018.
• On January 19, 2019, General Motors announced that it could invest $ 22 million in its manufacturing facility in Spring Hill, Tennessee to manufacture 6.2-liter V8 engines with Dynamic Management Technology. GM fuel (GMF). DFM, as the industry's first cylinder deactivation technology, allows engines to run on 17 different cylinder models to optimize performance, leaving only the cylinders needed to deliver the desired power.

AUTOMOTIVE ENGINE MARKET REPORT COVERAGE:

Market Segmentation:

Automotive Engine Market -  By Placement:

• In-Line Engine
• V-Type Engine

Automotive Engine Market - By Vehicle Type:

• Passenger
• LCV
• HCV

Automotive Engine Market - By Fuel:

• Gasoline
• Diesel

Market Reginal Analysis:

The Global Automotive Engine Market report includes the segmentation of regions:

• North America - U.S, Canada
• Europe - Norway, Germany, Sweden
• Asia Pacific - China, India, Japan
• Latin America - Brazil, Mexico, Argentina
• Middle East and Africa - Middle East, Africa

Market Key Players:

The leading players in the Automotive Engine Market are

1. AGCO Corporation
2. FAW China Group
3. Bosch, Deere & Company
4. Continental AG
5. Delphi Automotive
6. Mitsubishi Heavy Industries
7. Ford Motors
8. General Motors
9. MAN SE