DUBLIN--(BUSINESS WIRE)--The "Global Automotive Engine Market - Growth, Trends and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
Extensive innovations and prototypes from major automakers & OEMs, coupled with consumer preference for high-performance and fuel-efficient automobiles, are expected to drive the global market for automotive engines at a CAGR of 6.75% by 2023.
Automotive emissions, which accounted for over 25% of the overall greenhouse emissions, rang alarms globally in the past few years. This resulted in regulations requiring the automakers to cut down emissions. Further, EPA, Cop Hengan Climate Council and CAFE standards became more stringent, levying heavy fines on automakers that do not reach the standard mpg levels. Together, these factors forced automakers to develop better automobiles with lesser emissions and better fuel efficiency. This acted as a major propellant for the global automotive engine market.
High costs, long durations for R&D of new concepts and economic crises acted as major barriers to market growth. However, on the bright side, growing automotive sector in developing countries, increasing vehicle owing households and advancements in tensile alloys are a few of the major factors opening up new prospects for the automotive engine market.
Engine downsizing trends are on the rise, with automakers developing smaller engines with better fuel injection systems. L4 and V6 engines dominated the automotive engine market by placement type in 2015. Passenger cars are presumed to continue their dominance as the major vehicle type in the market. Gasoline and diesel engines accounted for over 60% of the overall market by fuel type. However, due to fluctuating global oil prices and growing environmental concerns among the public and governments, the market for other engines such as hybrid and Compressed Natural Gas (CNG) is expected to witness a higher growth rate by 2020.
Key Topics Covered
2. Research Methodology
3. Executive Summary
3. Market Overview and Technology Trends
4. Market Dynamics
5. Global Automotive Engine Market Segmentation, by Placement Type
6. Global Automotive Engine Market Segmentation, by Vehicle Type
7. Global Automotive Engine Market Segmentation, by Fuel Type
8. Global Automotive Engine Market, by Geography
9. Competitive Landscape
10. Company Profile
- AB Volvo
- Cummins Inc.
- Fiat S.P.A
- Ford Motor Company
- General Motors
- Hyundai Motor Company
- Jaguar Cars
- Mahle Powertrain Ltd
- Mazda Speed
- Mitsubishi Heavy Industries
- Scania AB
- Volkswagen Group
- Yamaha Corporation
- Eicher Motors
11. Future Outlook of the Market
For more information about this report visit https://www.researchandmarkets.com/research/28bgfp/global_automotive?w=4