Industry Background:
Engine is the predominant automobile factor for any automobile. It works as a coronary heart of automobile. The engine can be segregated into three key parts, the block, the head and the oil sump. A lot of lookup has been made to enhance overall performance of car engine by way of enhancing engine components. Some very essential engine factors in modern-day car engines are engine block, flywheel, crankshaft, piston, etc.This growth is primarily driven by Increasing production and Sales of Vehicles
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Auto Parts & Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Cummins Inc. (United States), General Motors (United States), Scania AB (Sweden), Suzuki Motor Corporation (Japan), Volkswagen AG (Germany), Eicher Motors Limited (India), Yamaha Corporation (Japan), Toyota Motor (Japan), Denso Corporation (Japan) and Delphi Automotive PLC (Ireland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In April 2022, Cummins Inc. acquired Jacobs Vehicle Systems (JVS) from Altra Industrial Motion Corp. Jacobs Vehicle Systems is a supplier of engine braking, cylinder deactivation, start and stop, and thermal management technologies. The addition of JVS brings new technologies that will provide growth opportunities for Cummins’ current and future advanced engine platforms. The acquisition of JVS also secures critical USMCA-qualified engine components for current and aftermarket products and expands Cummins’ offerings to customers globally.
In April 2021, MAN Energy Solutions started the ‘AmmoniaMot’ project in association with the Research Institutes University of Munich, Neptun Ship Design, WTZ, and Woodward L’Orange, supported by the 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.The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies.
Influencing Trend:
Increasing Introduction of Environmentally Sustainable Automobile Products
Market Growth Drivers:
Increasing production and Sales of Vehicles, Growing Digitisation of Distribution Systems and Increasing Technological Advancements and Innovations
Challenges:
High R&D Expenditures
Restraints:
Increasing demand for Electric Cars
Opportunities:
Increasing demand for fuel-efficient and lightweight cars and Manufacturers focus on Innovative Technologies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Automobile Engine Parts Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Automobile Engine Parts Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Automobile Engine Parts players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Automobile Engine Parts Study Sheds Light on
The Automobile Engine Parts Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automobile Engine Parts industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automobile Engine Parts industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.