Global Automotive Engine Market 2019-2023 | Increasing Investment in Building Better Emission Control Equipment to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Dec 12, 2019--
The automotive engine market size is poised to grow at a CAGR of over 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global automotive engine market 2019-2023. (Graphic: Business Wire)
The increasing demand for higher fuel efficiency and better performance has led to the development of new types of engines. Some of these engines are hybrid engines and variable displacement engines (VDEs). Although hybrid engines have been more widely used in the automotive industry, VDEs are expected to become more popular during the forecast period. This is because hybrid engines are fuel efficient only in heavy traffic conditions and have no effect on the fuel consumption on highways. VDEs on the other hand, deactivates half of the engine’s cylinders in light load conditions and reactivates them in case more power is required. The development of such engine technologies will drive the automotive engine market growth.
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As per Technavio, increasing investments in building better emission control equipment will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Automotive Engine Market: Increasing Investment in Building Better Emission Control Equipment
Vehicle engines are being downsized by OEMs to decrease the overall curb weight of the vehicle and reduce emissions. However, most of the OEMs that have aggressively downsized vehicle engines will revert to increasing engine size to add emission control equipment so as to comply with the real-world emission testing standards. Companies such as Volkswagen, Renault, and General Motors plan to eliminate certain compact passenger models from their product portfolio in 2019 to maintain a fleet that complies with the latest emissions and testing procedures. Many companies are critically evaluating the levels of emissions produced by their downsized compact vehicles. Thus, the increasing investment in building better emission control equipment will drive the growth of the automotive engine market.
“The development of camless engine technology and horizontally opposed flat engines with direct and port injection system, along with the increasing global automobile sales will have a significant impact on the growth of the automotive engine market value during the forecast period,” says a senior analyst at Technavio.
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Automotive Engine Market: Segmentation Analysis
This market research report segments the automotive engine market by fuel type (gasoline engine and diesel engine) and arrangement of cylinder (in-line engine, v-type engine, and flat engine), and geography (the Americas, APAC, and EMEA).
The APAC region led the market in 2018, followed by EMEA and Americas respectively. The growth of the automotive engine market share in APAC can be attributed to several factors such as the advancements in infrastructure and industrial developments, and the rapid economic growth in the region. These developments have led to an increased demand for commercial vehicles, which in turn, will lead to the growth of the market.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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PUB: 12/12/2019 09:30 AM/DISC: 12/12/2019 09:30 AM