Automotive Engine MarketOverview:
Automobile engine are referred to as fuel-consuming device ormachine that is used for driving automobiles, tractors, buses, airplanes, twowheelers, cars etc. Electric engines and internal combustion & steamengines are used in automotive vehicles. Most automotive engines are pistoninternal combustion engines.
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The automotive engines compriseof hydraulic and complex mechanical processes into the vehicle’s engine. Thevariable valve timing engines are different from a manufacturer to another butfollows certain principles that regulate the functioning of the engine. Thegrowing demand for high-power engines for racing and the increasing demand forluxury cars are some of the key drivers fueling the growth of the globalautomotive engine market.
The development of multi-fuelengines is expected to be the major trend which will gain traction in theautomotive engine market during the forecast period. To avoid knocking andimproving the efficiency, the automotive engines such as multi-fuel engineshave higher compression ratios and higher-octane ratings.
The major drivers of the marketare growing demand for fuel-efficient and lightweight vehicles, due to theincreasing industrialization and urbanization, majorly in emerging countries,increasing automotive production, strict government regulations to reducecarbon emission from vehicles and improved vehicle performance.
AutomotiveEngine Market – Competitive Analysis
Key players have economicallyinvested heavily in R&D activities to develop advanced products to caterthe requirements of the automotive engine market. The key players adoptedvarious strategies to retain and/or expand their market share. The key strategyfollowed by most companies within the global automotive engine market was thatof expansion and entering into merger & acquisition. This strategy iswidely adopted to spread their geographical presence and achieve operationalefficiencies. The market demands regular product innovation and increasedinvestment in R&D.
AutomotiveEngine Market – Segmentation
The Automotive Enginemarket can be segmented in to three keydynamics for the convenience of the report and enhanced understanding;
Segmentation by placement -In-Line Engine and V-Type Engine
Segmentation by Vehicle type -Passenger, LCV, HCV
Segmentation by Fuel -Gasoline, Diesel and Others
Segmentation by Regions: NorthAmerica, Europe, APAC and Rest of the World.
AutomotiveEngine Market – Regional Analysis
In North America automotiveengine market share, US will grow with the highest annual growth duringthe forecast period. US demand for automotive engine is projected to increasesubstantially for lubricants with performance and environmental advantages. Theincreasing number and age of vehicles in use will also fuel gains.
The growth of Asia-Pacificregion is dominated by developing countries such as India and China, where theautomotive industry is growing at a significant rate. The rise in the averagelifespan of vehicles in operation, the growing demand for light passengervehicles, and the increasing number of vehicle manufacturing facilities owingto the low cost of production in these countries has led to an increasedproduction capacity.
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KeyPlayers:
Cummins Inc., Fiat S.PA.,Volkswagen Group, Ford Motor Company, Mitsubishi Heavy Industries, AB Volvo,General Motors, Honda, Hyundai Motor Company and Scania AB are some of theprominent players profiled in MRFR Analysis and are at the forefront ofcompetition in the Global Automotive Engine Market.
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