ALBANY, N.Y.--(BUSINESS WIRE)--The global powertrain market is studied in great depth in a research report published by Transparency Market Research. The report states that the market, which had a net worth of US$365.67 billion in 2013, will grow at a 5.3% CAGR between the years 2014 and 2020 and reach US$524.60 billion by 2020.
The report is titled “Global Powertrain Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”. The report states that the exponential rise in demand for automobiles from across the globe, rising disposable incomes of the populace in emerging economies and increased fuel efficiency provided by modern powertrains are the chief drivers of the global powertrain market.
The report segments the market according to three key criteria: components, type of vehicle and key regional markets.
According to the type of component, the market is segmented into drive shafts, final drive, transmission, differentials, and engines. According to the type of vehicle, the market is segmented into ICV (infantry carrier vehicles), LCV (light commercial vehicles), off-road vehicles, HCV (heavy commercial vehicles), defense vehicles, cars, farm tractors and construction equipment.
Among the various types of components studied in the report, the market for engines led to the highest demand for powertrain systems in 2013. Of the various types of vehicles, the segment of cars led to the highest demand for powertrain systems in 2013.
The report includes a thorough analysis of the competitive landscape of the global powertrain market. Detailed business and financial profiles of key powertrain manufacturing companies, including Magna International Inc., BorgWArner Inc., Valeo SA, ZF Friedrischshafen, Continental AG, Denso Corporation, Magneti Marelli SPA and Hitachi Automotive Systems Ltd. are included in the report.
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About Transparency Market Research
Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.