The Business Research Company’s Vehicle Engine And Engine Parts Global Market Report 2021: COVID 19 Impact And Recovery
LONDON, GREATER LONDON , UK, August 17, 2021 /EINPresswire.com/ — According to the new market research report ‘Vehicle Engine And Engine Parts Global Market Report 2021: COVID-19 Impact And Recovery To 2030’ published by The Business Research Company, the vehicle engine and engine parts market is expected to grow from $2.29 trillion in 2020 to $2.40 trillion in 2021 at a compound annual growth rate (CAGR) of 5%. 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 $3.24 trillion in 2025 at a CAGR of 8%. With the increasing popularity of electric vehicles, the demand for engine operated vehicles is negatively impacted thus causing an overall fall in the demand for vehicle engine and engine parts market.
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The vehicle engine and engine parts market consist of the sales of motor vehicle engine and engine parts and related services used in bikes, passenger cars, racing cars, commercial vehicles, marine, agricultural equipment and earth-moving equipment. The engine parts consist of an engine cylinder head, engine cylinder block, alternator, A/c compressor, power steering pump, flywheel, clutch assembly, clutch housing and transmission. The vehicle engine and engine parts market does not include engines for electric vehicles.
Trends In The Global Vehicle Engine And Engine Parts Market
The companies operating in the vehicle engine and engine parts market are investing towards improving the fuel efficiency in internal combustion engines. Manufacturers are producing engines that delivers higher power and improves fuel economy. Improving the fuel efficiency of vehicle engine serves as an economical solution as well as reduces the emission of harmful pollutants into the air. For instance, to improve the fuel efficiency companies are investing in “direct fuel injection” technology in which the direct injection systems spray a fine mist of fuel directly into the cylinder helps keep the engine’s temperature down and increases the fuel efficiency. Following the trend in 2019, Mazada, a Japanese automaker, launched the Mazda 3 with Mazda’s Skyactiv-X gas-powered Spark-Controlled Compression Ignition engine. Also as reported by the U.S Department of Energy, direct fuel injection can improve engine efficiency by 12%. Thus, with increased concerns for the environment and to provide a better value for money, companies operating in the market are investing more towards improving the fuel efficiency of the engines.
Global Vehicle Engine And Engine Parts Market Segments:
The global vehicle engine and engine parts market is further segmented based on product type, fuel type, placement type and geography.
By Product Type: Vehicle Engines, Vehicle Engine Parts
By Fuel Type: Gasoline (Petrol), Diesel, Gas, Others
By Placement Type: In-line Engine, W Engine and V-Type
By Geography: The global vehicle engine and engine parts market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Vehicle Engine And Engine Parts Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides vehicle engine and engine parts market overviews, analyzes and forecasts market size and growth for the global vehicle engine and engine parts market, vehicle engine and engine parts global market share, vehicle engine and engine parts market players, vehicle engine and engine parts global market segments and geographies, vehicle engine and engine parts market’s leading competitors’ revenues, profiles and market shares. The vehicle engine and engine parts global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Vehicle Engine And Engine Parts Global Market Report 2021 from The Business Research Company for information on the following:
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
Vehicle Engine And Engine Parts Market Organizations Covered: Cummins, Toyota Motor, DENSO Corporation, Delphi Automotive PLC, Federal Mogul Corporation, MAHLE GmbH, BMW AG, General Motors, Volkswagen AG, Fiat Automobiles SpA.
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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