Automotive Engine Market - Growth, Trends, COVID-19 Impact and Forecasts (2021 - 2026)

The Automotive Engine Market has been segmented by Placement Type (In-line Engine, W Engine, and V-Type), Vehicle Type (Passenger Car and Commercial Vehicle), Fuel Type (Gasoline, Diesel, and Others), and Geography( North America, Europe, Asia-Pacific and Rest of the world). The Report offers market size and forecast for Automotive Engine Market in Value (USD billion) for all the above segments.

Market Snapshot

Automotive Engine Market Overview
Study Period:

2018 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

>4 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The Automotive Engine Market was valued at over USD 350 billion in 2020 and is expected to reach over USD 460 billion by 2026 registering a CAGR of more than 4% during the forecast period (2021 - 2026).

The COVID-19 pandemic had a swift and negative impact on the globally integrated automotive industry. Automobile Engine and component manufacturing plants are being shuttered and consumer footfalls in showrooms have fallen sharply because of lockdowns and travel restrictions across the world.

However, the Automotive Engine Market is expected to witness significant growth during the forecast period as manufacturers are focusing on new technologies like replacement of engine control unit to increase average life of vehicles thereby improving lifecycle of engines. The growing demand for fuel-efficient and lightweight vehicles likely to create lucrative opportunities to players in market during forecast period.

Factors such as rigid fuel economy ,regulatory norms and growing demand for technologically advanced powered engines for the better performance of vehicles expected to augment demand in the market . Recently the automobile giant Audi, has developed a TFSI 4-cylinder engine which the company claims to be the most efficient 2-litre gasoline engine on par. Such technological developments will certainly boost the market growth which will pave the way for better fuel-efficient vehicles.

The Asia-Pacific region is anticipated to continue as a major market for automotive engines throughout the forecasted period. It is anticipated that about 40% of the hybrid and electric vehicles sales reported by the year 2025 in the Asia-pacific region. North America and Asia-Pacific, both regions dominate the global automotive engine market as several environmental norms being employed in both North America ,Europe and Asia pacific.

Scope of the Report

The automotive Engine is one of the most integral parts of any vehicle. It enables the vehicle to function efficiently and run smoothly without any trouble. Overall performance, Vehicle emission, and efficiency of every vehicle depend on the condition of an automotive engine. The Automotive Engine Market report covers the latest trends, covid-19 impact followed by technological developments in the market. The scope of the report covers segmentation based on Placement Type, Vehicle Type, Fuel Type, and Geography.

By Placement Type, the market is segmented into In-line Engine, W Engine, and V-Type. By Vehicle Type, the market is segmented into Passenger cars and Commercial Vehicles. By Fuel Type, the market is segmented into Gasoline (Petrol), Diesel, Ethanol, and others and By Geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the world. For each segment, the market sizing and forecast have been done on basis of value (USD billion).

Placement Type
In-line Engine
W Engine
V-Type
Vehicle Type
Passenger Car
Commercial Vehicle
Fuel Type
Gasoline
Diesel
Others
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
South America
Middle East &Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Increasing Investment in Building Better Emission Control Equipment

A key factor driving the growth of the global automotive engine market is the development of new engine technologies such as variable displacement engines (VDEs) and Hybrids. Automotive manufacturers are developing new types of engines such as hybrid engines and variable displacement engines (VDEs) which deliver high performance and fuel efficiency.

Although hybrid engines are the most widely used engine in the automotive industry, the demand for VDEs is expected to increase considerably during the forecast period. This is because hybrid engines are expensive and the presence of various electrical components in its powertrain makes it less reliable. Moreover, hybrid engines are fuel efficient in heavy traffic conditions only.

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.

Most of the OEMs have downsized vehicle engines for complying with the real-world emission testing standards as well as the emission standards.Companies such as Volkswagen, Renault, and General Motors plan to eliminate certain compact passenger models from their product portfolio in 2019 to maintain a fleet that complies with the latest emissions and testing procedures. Many companies are in process of evaluating the levels of emissions produced by their downsized compact vehicles.

Automotive Engine Market Key Trends

To understand key trends, Download Sample Report

Asia-Pacific Region Expected To Lead The Market

The Asia-Pacific region is expected to dominate the automotive engine market followed by Europe and North America during the forecast period.The developments in the field of engine technology is increasing significantly, along with the rising emission norms across the globe. Large amount of OEMs profit is likely to come from developing economies like India and China.

The Asia pacific region likely to attract major players in the market as customers preference towards electric vehicles is increasing significantly. However, as switching to electric mobility is associated with high cost ,electrification of vehicle & adoption of electric vehicles at local level will continue to maintain the relevance of IC engines. A large number of electric vehicles are hybrid electric vehicles therefore IC engines will be produced until electric car market see full electrification of vehicles.

Europe and North America expected to be active regions in market after Asia pacific due to the presence of long established original equipment manufacturers which provide strong base for the robust development and growth of automotive engine market in the region.

The OEM’s have been focusing on developing technologically advanced powered engines to gain high torque and performance. The emergence of multi-fuel engine technology is expected to provide lucrative opportunities to the active market players in the automotive engine market. For example, Volvo multi-fuel car has 2.0 liter engine which runs on 5 different fuels namely, hythane, methane, bioethane, CNG, and petrol.

Automotive Engine Market Share

To understand geography trends, Download Sample Report

Competitive Landscape

The automotive engine market is fairly fragmented due to the presence of numerous players in market. The companies are launching more technologically advanced products in the market for gaining competitive edge over other players. For instance;

  • In January 2019, Cummins Inc. launched its next-generation 6.7L turbo diesel engine, with a first-in-class 1,000 pound-feet of torque. It also has the higher horsepower output, taking the 2500 and 3500 heavy-duty RAM pickup truck customers to the next level of performance.
  • In May 2019, MAN Energy Solutions has added variable turbine area (VTA) technology to its TCA turbochargers for the MAN 51/60 engine type. VTA has nozzle rings with adjustable vanes that adjusts the air flow amount with injected fuel at different loads. This makes the engine more responsive and fuel efficient.
  • Audi has developed a first turbocharged direct injection engine TFSI 4-cylinder engine which is claimed to be the most efficient 2-liter engine. This engine has improved responsiveness and Active Noise Control and Engine Mounts suppress vibrations and noise.

Some of the key players in the market include Cummins Inc.,Toyota Motor Corporation, Fiat Automobiles SpA,Volkswagen AG,MAN Energy Solutions,General Motors.

Recent Developments

  • In April 2021, MAN Energy Solutions has begun the ‘AmmoniaMot’ project in association with Research Institutes University of Munich, Neptun Ship Design, WTZ and Woodward L’Orange supported by German Federal Ministry of Economics and Technology (BMWi).The project aims to define the steps necessary to produce a dual-fuel, medium-speed engine capable of running on diesel-fuel and ammonia.
  • In September 2020, Clean flame Engine Technologies developed a novel way to get diesel style engines to operate on renewable fuels like ethanol. The technology essentially combines the performance benefits of the diesel engine design with the low costs and the low emissions associated with these alternative fuels paving way for new trends in market.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.3.1 Bargaining power of suppliers

      2. 4.3.2 Bargaining Power of Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Placement Type

      1. 5.1.1 In-line Engine

      2. 5.1.2 W Engine

      3. 5.1.3 V-Type

    2. 5.2 Vehicle Type

      1. 5.2.1 Passenger Car

      2. 5.2.2 Commercial Vehicle

    3. 5.3 Fuel Type

      1. 5.3.1 Gasoline

      2. 5.3.2 Diesel

      3. 5.3.3 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 India

        2. 5.4.3.2 China

        3. 5.4.3.3 Japan

        4. 5.4.3.4 South Korea

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 South America

        2. 5.4.4.2 Middle East &Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles*

      1. 6.2.1 Mercedes-Benz

      2. 6.2.2 Cummins Inc.

      3. 6.2.3 Toyota Motor Corporation

      4. 6.2.4 BMW

      5. 6.2.5 General Motors

      6. 6.2.6 Honda Motor Company Ltd

      7. 6.2.7 Hyundai Motor Company

      8. 6.2.8 Scania AB

      9. 6.2.9 Suzuki Motor Corporation

      10. 6.2.10 Mazda Motor Corporation

      11. 6.2.11 Volkswagen AG

      12. 6.2.12 Eicher Motors Limited

      13. 6.2.13 Yamaha Corporation

      14. 6.2.14 Fiat Automobiles SpA

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Automotive Engine Market market is studied from 2018 - 2026.

The Automotive Engine Market is growing at a CAGR of 5.23% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

  • Cummins Inc.
  • Toyota Motor Corporation
  • General Motors
  • Volkswagen AG
  • Fiat Automobiles SpA

Are the major companies operating in Automotive Engine Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!