Automotive Engine Market to Grow by USD 14.23 Million (2023-2027), Driven by Rising Demand for Premium Vehicles, AI-Powered Report Highlights Market Trends - Technavio

NEW YORK , Nov. 12, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global automotive engine market size is estimated to grow by USD 14.23 million from 2023-2027, according to Technavio.

The market is estimated to grow at a CAGR of 3.43% during the forecast period. High growth volume for premium vehicle segment is driving market growth, with a trend towards increasing demand for fuel efficiency.



However, increasing popularity of electric vehicles poses a challenge.Key market players include AB Volvo, BMW AG, Cummins Inc., Dr.

Ing. H.c.

F. Porsche AG, Eicher Motors Ltd., Ford Motor Co.

, General Motors Co, Honda Motor Co. Ltd, Hyundai Motor Co., MAHLE GmbH, Maruti Suzuki India Ltd.

, Mazda Motor Corp., Mercedes Benz Group AG, Mitsubishi Motors Corp., Renault SAS, Stellantis NV, Toyota Motor Corp.

, Trelleborg AB, and Yamaha Motor Co. Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF Automotive Engine Market Scope Report Coverage Details Base year 2022 Historic period 2017 - 2021 Forecast period 2023-2027 Growth momentum & CAGR Accelerate at a CAGR of 3.43% Market growth 2023-2027 14.

23 mn units Market structure Fragmented YoY growth 2022-2023 (%) 3.69 Regional analysis APAC, North America, Europe, South America, and Middle East and Africa Performing market contribution APAC at 38% Key countries US, China, Japan, India, and Germany Key companies profiled AB Volvo, BMW AG, Cummins Inc., Dr.

Ing. H.c.

F. Porsche AG, Eicher Motors Ltd., Ford Motor Co.

, General Motors Co, Honda Motor Co. Ltd, Hyundai Motor Co., MAHLE GmbH, Maruti Suzuki India Ltd.

, Mazda Motor Corp., Mercedes Benz Group AG, Mitsubishi Motors Corp., Renault SAS, Stellantis NV, Toyota Motor Corp.

, Trelleborg AB, and Yamaha Motor Co. Ltd. Market Driver The automotive engine market is experiencing significant trends due to various factors.

Automobile industries have faced challenges from lockdowns and travel restrictions, leading to a decline in vehicle production. However, there's a growing focus on engine control units, lifecycle of engines, and lightweight vehicles. Zero emissions, hybrids, compact engines, and electrification are key areas of investment.

Neptune Ship and ammonia are emerging as potential fuels for engines, while stringent emission norms and fuel efficiency remain top priorities. Legislation drives the shift towards environment-friendly engines, with a focus on reducing greenhouse gas emissions. Diesel fuel consumption is decreasing, and legislative bodies are targeting harmful vehicle pollutants.

Companies like Renault and General Motors are investing in fuel injection technology, electric buses, and complex components for longer vehicle life. Simulink models and control strategies offer flexibility in engine performance simulations. The replacement cycle for engines is increasing, creating a revenue pocket for engine production.

Fuel type, vehicle segments, and engine production all impact engine performance and vehicle emissions. Aluminum alloys are popular for lightweight components, and the torque curve and engine cycle are critical factors in engine design. Electricity is the future, and car pollutants are being addressed through emission testing and advanced engine technology.

The automotive industry is experiencing a growing focus on fuel efficiency, safety, and reduced emissions to enhance consumer driving experience. This trend increases the operational efficiency of automotive engines, resulting in lower fuel costs for Original Equipment Manufacturers (OEMs). Consequently, efficient automotive engine suppliers are favored due to their high-performance features and low fuel usage.

For instance, Volvo Buses introduced a new premium coach platform in June 2022 , saving approximately 9% on fuel costs. The increasing demand for fuel-efficient vehicles will boost the automotive engine market, improving vehicle efficiency and driving market growth throughout the forecast period. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This automotive engine market report extensively covers market segmentation by 1.

1 In-line engine- In-line engines, also known as straight engines, are the most widely used engine configuration in the automotive industry. The primary factors fueling their popularity are engine downsizing and the increasing adoption of turbochargers. In-line engines offer improved fuel efficiency through downsizing, while turbochargers amplify engine performance.

Notable automakers, including BMW, Mercedes-Benz, Toyota Motor, and Volkswagen, are integrating downsized in-line engines to enhance vehicle performance. These engines are lightweight and compact, making them ideal for front-wheel drive vehicles, which are the most commonly produced in the industry. In-line engines are economical to manufacture and maintain.

The most common configurations are the 4-cylinder or in-line four engines, but some manufacturers also use 6- and 8-cylinder configurations, such as straight-6 and straight-8 engines. Mercedes-Benz, for instance, is reconfiguring its engines from V-6 to straight-6 layouts, offering smoother engine performance and lower emissions. BMW, Ford Motor, Chevrolet, Toyota, Suzuki, and Volvo are among the carmakers using straight-6 engines in their models.

In 2018, BMW introduced a new 3.0-liter six-cylinder (straight-6) engine for the 2020 BMW M340i, featuring an aluminum crankcase and cylinder head, and lighter impellers for engine downsizing and enhanced performance. As advanced engine technologies like turbocharging and direct injection gain traction in the automotive sector, OEMs are transitioning from V6 engines to more fuel-efficient in-line four-cylinder engines.

Cars like the Maruti Alto 800, Maruti Celerio , Tata Tiago , Honda City, Toyota Corolla, Hyundai Elantra, Hyundai Verna, and Chevrolet Cruise are some examples of vehicles featuring in-line engines. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis The automotive engine market is experiencing significant changes due to various factors. The automobile industry has been heavily impacted by lockdowns and travel restrictions caused by the global pandemic.

This has led to a decrease in demand for traditional internal combustion engines. However, the focus on reducing car pollutants and improving fuel efficiency has accelerated the adoption of advanced engine technologies. Engine control units play a crucial role in optimizing engine performance and reducing emissions.

The lifecycle of engines is being extended through the use of lightweight materials like aluminum alloys and the development of compact engines. Zero emissions and hybrid vehicles are becoming increasingly popular, with hybrid electric engines offering the benefits of both internal combustion and electric power. The electrification of vehicles is gaining momentum, with electric engines offering significant reductions in fuel consumption and emissions.

Simulation tools like Simulink are being used to develop control strategies and optimize engine performance through simulations of engine cycles and torque curves. Neptun Ship , a leading provider of engine control units, offers flexible solutions for meeting emission standards and improving engine efficiency. Engine production is evolving to meet the demands of the changing market, with a focus on reducing weight, improving efficiency, and reducing emissions.

The future of the automotive engine market lies in the development of advanced engine technologies and the integration of electricity into the powertrain. Market Research Overview The automotive engine market is experiencing significant shifts due to various factors including the impact of lockdowns and travel restrictions caused by the pandemic. The focus on engine control units and lifecycle of engines is becoming increasingly important as automakers strive for improved fuel efficiency and stringent emission standards.

The trend towards lightweight vehicles and zero emissions is driving the demand for compact engines, hybrids, and electrification. Neptun Ship and other alternative fuels like ammonia are gaining attention as potential replacements for conventional fuel. The electrification of vehicle segments, from passenger cars to electric buses, is leading to the production of complex components with longer longevity characteristics.

The flexibility of control strategies, simulated using tools like Simulink, is essential for optimizing engine performance and reducing vehicle emissions. Car pollutants such as greenhouse gases and harmful vehicle emissions are under scrutiny from legislative bodies, pushing the industry towards environment-friendly solutions. Fuel consumption, engine production, and vehicle segments continue to evolve, with a record high focus on fuel injection technology and torque curve optimization.

Aluminum alloys and other lightweight components are essential in reducing vehicle weight and improving fuel efficiency. The replacement cycle for engines is becoming longer, creating a revenue pocket for engine manufacturers. The future of the automotive engine market lies in the balance between engine performance, fuel consumption, and environmental sustainability.

Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries.

Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.

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