Europe Automotive Powertrain Market

Europe Automotive Powertrain Market Size (2022-2027):

The Europe Automotive Powertrain Market was estimated at US$ 289 billion in 2021 and is expected to register a compound annual growth rate (CAGR) of 12.87% over the forecast period 2022-2027.

The powertrain of any vehicle defines its performance, comfort, and safety. The engine and transmission are considered the main components of the powertrain, and other key elements include the clutch/torque converter, the drive shaft/propeller shaft, the differential, and the axles. 

Market Drivers:

One of the main drivers of the automotive engine market is the expansion of the electric and hybrid vehicle market. The electric vehicle market has grown considerably around the world. Sales of electric vehicles are expected to increase due to lower battery costs and technological improvements, such as increased storage capacity which has led to greater consumer adoption. As global temperatures rise at an alarming rate, governments and industries around the region are committed to reducing greenhouse gas emissions.

The transport sector was one of the main areas of intervention since transport and mobility represent the second share in terms of emissions after the production of electricity. The production and sales of electric vehicles in Europe have increased at a high rate due to a favorable regulatory environment, such as subsidies and tax exemptions for industry and consumers in Europe and the Asia-Pacific regions.

Market Restraints:

Customers' reluctance to pay more for a sustainable transmission system and the high investment costs associated with the system are presumed to hamper the automotive powertrain market. In addition, strict emission standards in several countries can be a challenge for demand.

Market Opportunities:

Growing demand for automated transmissions and the growing trend to reduce engine size, which reduces emissions and fuel consumption, are expected to drive growth in the powertrain market. The increasing need for better traction, higher towing capacity, and increased vehicle acceleration for safe driving in order to navigate adverse terrain and inclement weather are expected to stimulate demand during the forecast period.

The increased development of advanced automotive features should provide lucrative opportunities for market growth.

Market Recent Developments:

• In September 2017: Bosch and Nikola established a partnership to develop an electric powertrain, using Bosch e-Axle technology which transmits the engine transmission. These electric powertrains are designed for long-distance trucks.
• In August 2017, Bosch launched electronic axle transmission for electric cars. The engine, power electronics, and drive transmission that are essential in the movement of the car shaft are recorded to improve the efficiency of the electric drive.

EUROPE AUTOMOTIVE POWERTRAIN MARKET REPORT COVERAGE:

Market Segmentation:

Europe Automotive Powertrain Market - By Vehicle Type:

• Light Commercial Vehicles
• Passenger Cars
• Heavy Commercial Vehicles

Based on the vehicle type, passenger cars held a prominent share in the European market due to increasing production, rising consumer demand and disposable income, and government support initiatives.

Europe Automotive Powertrain Market - By Engine:

• Gasoline
• Diesel

Depending on the type of engine, gasoline engines have more demand; however, they are predicted to be substituted by diesel engines due to the growing difference between prices. To overcome such issues, component manufacturers are concentrating on the development of hybrid powertrains to reduce fuel consumption in vehicles.

Market Regional Analysis:

• Germany
• UK
• France
• Italy
• Spain
• Rest of Europe

The Europe Automotive Powertrain Market is anticipated to experience a stable growth rate during the forecast period after the economic recession in 2009. Germany is the largest automotive powertrain market in Europe, which is also expected to be the fastest-growing market in this region over the estimated period. The presence of the leading industry players in the area has dramatically stimulated the growth of the industry.

Market Key Players:

1. Nissan
2. Toyota Motor Corporation
3. General Motors Company
4. Ford Motor Company
5. Sling
6. BMW
7. Hyundai Motor
8. ZF Friedrichshafen AG
9. GKN plc
10. Volkswagen AG
11. Borgwarner Inc
12. Aisin Seiki Co. Ltd
13. Jtekt Corporation

The Research Report Highlights:

• A full context analysis, which includes an evaluation of the parent market
• Significant changes in market dynamics.
• Market segmentation in the second or third level.
• Historical market size, current and projected in terms of value and volume.
• Reports and evaluations of recent industry developments.
• Market shares and strategies of the main actors.
• Niche of emerging segments and regional markets.
• An objective evaluation of the market trajectory.
• Recommendations to companies to strengthen their presence in the market.