LONDON--(BUSINESS WIRE)--The global automotive engine market is expected to post a CAGR of over 4% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global automotive engine market is the engine downsizing regulations. With the growing emphasis on reducing carbon dioxide emissions and boosting fuel efficiency, OEMs have started focusing on downsizing internal combustion engines. Downsizing is adopted to reduce fuel consumption, which can be achieved by reducing engine displacement while increasing the power/displacement ratio. As a result, there has been a production shift to three-cylinder combustion engines from the conventional four-cylinder combustion engines. This, in turn, will fuel the growth of the global automotive engines market.
This market research report on the global automotive engine market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing investment in building better emission control equipment as one of the key emerging trends in the global automotive engine market:
Global automotive engine market: Increasing investment in building better emission control equipment
Car manufacturers try to stay ahead of the competition by building the most compact engines that are lightweight, have greater power output, and higher fuel economy. Vehicle engines are downsized by OEMs to decrease the overall curb weight of the vehicle and reduce emissions. Rising levels of air pollution, which lead to regular upgrades to existing vehicular emission regulations, compel OEMs to downsize engines without affecting their performance. Most of the OEMs that have aggressively downsized vehicle engines will revert to increasing engine size to add emission control equipment for complying with the real-world emission testing standards as well as the emission standards.
“Apart from the engine downsizing regulations, factors such as the development of new engine technologies such as VDEs and Hybrids, along with the increasing global automobile sales are likely to positively impact the global automotive engine market during the forecast period,” says a senior analyst at Technavio for research on automotive components.
Global automotive engine market: Segmentation analysis
This market research report segments the global automotive engine market by fuel type (gasoline engine and diesel engine), by arrangement of cylinder (in-line engine, v-type engine, and flat engine) and geographical regions (APAC, EMEA, and the Americas).
The APAC region led the market in 2018 with a market share of over 54%, followed by EMEA and the Americas respectively. Although the Americas held the smallest share of the market in 2018, it is expected to register the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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