Understanding Key Drivers and Growth Opportunities in the Vehicle Engine And Engine Parts Market: Trends and Market Size Insights
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Major Innovations Are Driving the Accelerated Growth of the Vehicle Engine And Engine Parts Market?
The increasing manufacturing of automobiles is driving the vehicle engine and engine parts market. Global vehicle production has risen significantly, with a notable increase from 2021 to 2022, leading to higher demand for engine components. This trend is expected to continue as automobile production grows, pushing the market for vehicle engines and parts forward.
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#What is the Growth Potential of the Vehicle Engine And Engine Parts Market, and How Will It Perform by 2034?
The vehicle engine and engine parts market size has grown strongly in recent years. It will grow from $459.63 billion in 2024 to $493.89 billion in 2025 at a compound annual growth rate (CAGR) of 7.5%. This growth is driven by the industrial revolution’s impact on manufacturing, the mass production of automobiles, the imposition of stricter environmental regulations, and the globalization of automotive manufacturing processes.
The vehicle engine and engine parts market is anticipated to grow to $630.69 billion by 2029, at a CAGR of 6.3%. Growth drivers include vehicle electrification, autonomous vehicles, lightweighting, fuel efficiency, 5G connectivity, and green energy. Notable trends include the use of advanced materials, hybrid powertrains, digitalization, 3D printing, and the circular economy.
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How Are Market Trends and Innovations Revolutionizing theVehicle Engine And Engine Parts Industry in Recent Times?
The vehicle engine and engine parts market is facing challenges due to declining automobile sales, which reduce demand for new engines and engine parts. The Society of Indian Automobile Manufacturers reported a decrease in passenger car sales from 1,541,866 units in 2021 to 1,467,056 units in 2022, restricting the growth of the engine parts market.
What Are the Top Market Players Propelling the Growth of theVehicle Engine And Engine Parts Industry?
Major companies operating in the vehicle engine and engine parts market include Cummins Inc., Toyota Motor Corporation, DENSO Corporation, Delphi Technologies PLC, Federal-Mogul LLC, MAHLE GmbH, Bayerische Motoren Werke Aktiengesellschaft, General Motors Company, Volkswagen AG, Fiat Chrysler Automobiles N.V., Volkswagen Group, Daimler AG, Stellantis N.V., Hyundai Motor Group, Nissan Motor Co. Ltd., Subaru Corporation, Volvo Group, Caterpillar Inc., Navistar International Corporation, Deere & Company, MAN Truck & Bus SE, Scania AB, PACCAR Inc., Wärtsilä Corporation, Perkins Engines Company Limited, MTU Friedrichshafen GmbH, Isuzu Motors Limited, CNH Industrial N.V.
Which Primary Segments of the Vehicle Engine And Engine Parts Market Are Driving Growth and Industry Transformations?
The vehicle engine and engine parts market covered in this report is segmented –
1) By Product Type: Vehicle Engines, Vehicle Engine Parts
2) By Fuel Type: Gasoline (Petrol), Diesel, Gas, Other Fuel Types
3) By Placement Type: In-line Engine, W Engine And V-Type
Subsegments:
1) By Vehicle Engines: Internal Combustion Engines (ICE), Electric Vehicle (EV) Motors, Hybrid Vehicle Engines, Gasoline Engines, Diesel Engines, Natural Gas Engines, Hydrogen Engines, Engine Control Units (ECU)
2) By Vehicle Engine Parts: Pistons, Crankshafts, Cylinder Heads, Camshafts, Engine Blocks, Timing Belts Or Chains, Turbochargers, Oil Pumps, Water Pumps, Valve Lifters, Timing Gears, Fuel Injectors, Bearings, Gaskets And Seals
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Which Regions Are Key Players in the Growth of the #What Major Innovations Are Driving the Accelerated Growth of the Vehicle Engine And Engine Parts Market?# Market?
Asia-Pacific was the largest region in the vehicle engine and engine parts market in 2023. Western Europe was the second largest region in the vehicle engine and engine parts market. The regions covered in the vehicle engine and engine parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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