Global Vehicle Engine And Engine Parts Market Size and Forecast 2023-2032|Cummins Inc., Toyota Motor Corporation, DENSO Corporation, Delphi Technologies PLC, Federal-Mogul LLC

The Vehicle Engine And Engine Parts Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).

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According to The Business Research Company’s Vehicle Engine And Engine Parts Global Market Report 2024, The vehicle engine and engine parts market size has grown strongly in recent years. It will grow from $427.27 billion in 2023 to $458.54 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to industrial revolution, automobile mass production, environmental regulations, globalization of automotive manufacturing.

The vehicle engine and engine parts market size is expected to see strong growth in the next few years. It will grow to $590.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to electrification of vehicles, autonomous vehicles, lightweighting and fuel efficiency, 5g and connectivity, green energy and hydrogen. Major trends in the forecast period include advanced materials, hybrid powertrains, digitalization and iot, 3d printing and additive manufacturing, circular economy.

The increasing manufacturing of automobiles is expected to drive the vehicle engine and engine parts market. Automobile manufactures use different engine components and engine parts for manufacturing a vehicle. According to statistics from the International Organization of Motor Vehicle Manufacturers, a Paris based international automobile trade association, the total number of vehicles produced globally, from January to September 2021 increased to 57.2 million units from 52.1 million units in 2020, during the same period. Therefore, the increasing production of vehicles around the world is expected to drive the vehicle engine and engine parts market growth.

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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

The vehicle engine and engine parts market report table of contents includes:

1. Executive Summary

2. Vehicle Engine And Engine Parts Market Characteristics

3. Vehicle Engine And Engine Parts Market Trends And Strategies

4. Vehicle Engine And Engine Parts Market – Macro Economic Scenario

5. Global Vehicle Engine And Engine Parts Market Size and Growth