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Automotive Powertrain Systems Market Size - By Powertrain Type (Internal Combustion Engine, Hybrid Powertrain, Electric Powertrain), Vehicle Type (Passenger Cars, LCVS, HCVS, Off-Highway Vehicles), Sales Channels (OEMS, Aftermarket) & Forecast, 2023 – 2032

  • Report ID: GMI6878
  • Published Date: Oct 2023
  • Report Format: PDF

Automotive Powertrain Systems Market Size

Automotive Powertrain Systems Market size was valued at USD 831 billion in 2022 and is estimated to expand at a CAGR of 8.2% between 2023 and 2032.

Automotive Powertrain Systems Market

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The market is undergoing significant transformation as it adapts to the evolving landscape of the automotive industry. These changes are led by various factors including technological advancements, regulatory shifts, and changing consumer preferences. Electrification is revolutionizing the market. Electric powertrains are gaining traction owing to the growing emphasis on reducing greenhouse gas emissions and increasing energy efficiency.

The high cost of powertrain systems remains a significant restraint in the automotive industry, affecting both electric & hybrid vehicles. For instance, in the case of EVs, the cost of the battery pack constitutes up to 30% of the total vehicle cost, presenting a substantial financial barrier for many potential consumers. Several factors drive up the cost of powertrain systems.

COVID-19 Impact

The COVID-19 pandemic significantly disrupted the automotive and transportation market, causing a sharp decline in vehicle sales, production halts, disrupted supply chains, and a shift towards remote work impacting commuter habits. Demand for electric and online vehicle sales surged, prompting a paradigm shift in the industry.

Automotive Powertrain Systems Market Trends

Transformational Trends in the automotive & transport industry electricity reached its crescendo following the growing adoption of electric vehicles which were spurred by environmental concerns and the improvements in battery technology. On the other hand, AI-based autonomy of vehicles also took off which in turn is positively impacting the market growth.

Automotive Powertrain Systems Powertrain Type Market Analysis

Automotive Powertrain Systems Market Size, By Powertrain Type, 2021 - 2032 (USD Billion)

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The automotive powertrain systems market from Internal Combustion Engine (ICE) segment dominated around USD 654 billion revenue in 2022. The market is currently witnessing a dynamic shift in powertrain types, with the convergence of several key trends shaping the future of mobility. The Internal Combustion Engine (ICE) powertrain segment continues to evolve in response to stringent emissions regulations and the demand for increased fuel efficiency.

Automotive Powertrain Systems Market Revenue Share, By Vehicle Type, (2022)

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Passenger Cars segment held over 55% of the automotive powertrain systems market share in 2022, due to undergoing significant changes in response to the evolving consumer preferences, environmental concerns, and technological advancements, with distinct trends emerging across various vehicle types. In the realm of passenger cars, there is a notable shift toward electrification.

The Original Equipment Manufacturers (OEMs) segment accounted for 26% of the automotive powertrain systems market share in 2022. The OEM segment remains the primary distribution channel for powertrain systems. As automakers intensify their efforts to develop Electric Vehicles (EVs) and hybrid models, OEMs are increasingly integrating electric powertrains into their production lines.

U.S Automotive Powertrain Systems Market Revenue, 2021 - 2032 (USD Billion)

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U.S. automotive powertrain systems market size reached USD 97 billion in 2022. The U.S. plays a pivotal role in shaping the North American industry landscape. The market is characterized by a push for cleaner & more efficient powertrain systems. A key driver of this shift is stringent emission regulations, which have pushed automakers to invest heavily in electric & hybrid powertrain technologies.

Automotive Powertrain Systems Market Share

Some of the major companies operating in the automotive powertrain systems Industry are:

  • BorgWarner Inc.
  • Continental AG
  • Magna International Inc.
  • ZF Friedrichshafen AG
  • Allison Transmission Holdings Inc.
  • Aisin Seiki Co., Ltd.
  • Denso Corporation
  • GKN Automotive Limited
  • Valeo SA, Schaeffler AG
  • Hyundai Transys
  • JATCO Ltd.
  • Eaton Corporation
  • AVL List GmbH
  • Ricardo plc

These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.

Automotive Powertrain Systems Industry News:

  • In February 2022, BorgWarner secured multiple supply contracts for Electric Vehicle (EV) & hydrogen powertrain systems. The contract involved the supply of low-emission powertrain technology to a variety of OEMs in the automotive & off-highway markets.
  • In January 2023, Continental developed a new high-voltage Battery Management System (BMS) for EVs. The new BMS is designed to improve the efficiency & performance of EVs, as well as reduce the cost of battery packs.

This automotive powertrain systems market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion & Thousand Units from 2018 to 2032, for the following segments:

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Market, By Powertrain Type

  • Internal Combustion Engine (ICE) 
  • Gasoline
  • Diesel
  • Compressed Natural Gas
  • Hybrid Powertrain 
  • Full Hybrid
  • Mild Hybrid
  • Plug-in Hybrid
  • Electric Powertrain 
  • Battery Electric Vehicle
  • Fuel Cell Electric Vehicle

Market, By Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicles (LCVs)
  • Heavy Commercial Vehicles (HCVs)
  • Off-Highway Vehicles

Market, By Sales Channel

  • Original Equipment Manufacturers (OEMs)
  • Aftermarket

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Indonesia
    • Malaysia 
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE


Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market was of automotive powertrain systems reached USD 831 billion in 2022 and is set to cross USD 1.77 trillion by 2032, propelled by technological advancements, regulatory shifts, and changing consumer preferences.

Passenger Cars segment held a dominant market share of around 55% in 2022, backed by the evolving consumer preferences, environmental concerns, technological advancements, and shift toward electrification.

U.S. market size was valued at USD 97 billion revenue in 2022, characterized by a push for cleaner & more efficient powertrain systems, along with stringent emission regulations.

Allison Transmission Holdings Inc., Aisin Seiki Co., Ltd., Denso Corporation, GKN Automotive Limited, Valeo SA, Schaeffler AG, Hyundai Transys, JATCO Ltd., Eaton Corporation, AVL List GmbH, Ricardo plc.

Automotive Powertrain Systems Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 173
  • Countries covered: 17
  • Pages: 150
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