The Business Research Company’s Power Train And Power Train Parts Global Market Report 2021: COVID 19 Impact And Recovery
LONDON, GREATER LONDON, UK, August 16, 2021 /EINPresswire.com/ — According to the new market research report ‘Power Train And Power Train Parts Global Market Report 2021: COVID-19 Impact And Recovery To 2030’ published by The Business Research Company, the power train and power train parts market is expected to grow from $5.78 trillion in 2020 to $6.06 trillion in 2021 at a compound annual growth rate (CAGR) of 4.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $8.12 trillion in 2025 at a CAGR of 8%. The powertrain and powertrain parts market are driven by the increasing demand for improved fuel efficiency.
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The powertrain and powertrain parts market consist of sales of powertrain and powertrain parts and related services. The powertrain refers to a system that converts power of the engine into vehicle’s movement. The powertrain parts include the engine, transmission, the driveshaft, differentials, and axles among others. The vehicle’s performance and efficiency are defined by its powertrain system and its related parts.
Trends In The Global Power Train And Power Train Parts Market
Powertrain and powertrain parts manufacturers are increasingly investing towards the development of new engine management and optimization technology for powertrains. Advance powertrain systems are being developed to increase the efficiency of the engine and reducing fuel combustion. The popularity of electric vehicles has resulted in the manufacturers of powertrain and powertrain parts to invest in powertrains suitable for these electric vehicles. Following the trend, TATA motors in 2019, announced its new powertrain using Ziptron technology to power all its electric cars. The electric vehicles with Ziptron technology will have a range of up to 250kms.TATA plans to launch its first electric car equipped with new powertrain system in Q4FY20.
Global Power Train And Power Train Parts Market Segments:
The global power train and power train parts market is further segmented based on components, technology, vehicle type and geography.
By Components: Engine, Transmission, Drive Shafts, Differentials, Final Drive
By Technology: Hybrid, Automated
By Vehicle Type: Passenger Car (PC), Commercial Vehicle (CV), Off-Road Vehicles, Construction Equipment, Defense Vehicles, Agricultural Vehicles
By Geography: The global power train and power train parts market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Power Train And Power Train Parts Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides power train and power train parts market overviews, analyzes and forecasts market size and growth for the global power train and power train parts market, power train and power train parts market share, power train and power train parts market players, power train and power train parts market segments and geographies, power train and power train parts market’s leading competitors’ revenues, profiles and market shares. The power train and power train parts market report identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Power Train And Power Train Parts Market Organizations Covered: Ford Motor Company, General Motors Company, Volkswagen AG, ZF Friedrichshafen AG, Delphi Technologies, Toyota Motor Corporation, JTEKT Corporation, Allison Transmission, BorgWarner Inc., Hyundai Motor Company, Aisin Seiki, Jtekt Corporation, Aw North Carolina, Dexter Axle Company, Kyklos Bearing International, John Deere Coffeyville Works, Warner Electric, Fabco Automotive Corporation, American Axle & Manufacturing, Cloyes Gear and Products, Powertech America, Reliance Electric Company, Thyssenkrupp Crankshaft Company, Borgwarner Transmission Systems, Capco Automotive Products Corporation, The Gleason Works, Delphi Technologies.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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