Authored By: Sarah
25 Jun 2024

 Automotive Engine Market Size to grow by 14.23 mn units between 2023-2027

According to a research report “ Automotive Engine Market” by Type (In-line engine, V-type engine, Flat engine) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by 14.23 mn units, at a CAGR of  3.43% during the forecast period. The automotive engine market is poised for growth, with a notable increase in demand for high-performance, premium, and sports utility vehicles. This shift in consumer preference is driven by the desire for comfortable, feature-rich vehicles. The SUV segment, which has seen consistent growth for the past four years, is expected to remain a significant contributor to this trend. SUVs typically feature engines with four or more cylinders, resulting in an average of 16 valves per vehicle. High-end luxury SUVs from brands like Porsche and Bentley may even include up to 32 valves for enhanced performance. This market dynamic is expected to shape engine design language throughout the next decade.

Browse market data tables, figures, and in-depth TOC on “Automotive Engine Market” by Type (In-line engine, V-type engine, Flat engine) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2027. Download Free Sample

 

By Type, the In-line engine segment is projected to dominate the market size in 2024

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By Geography, APAC  segment is expected to hold the largest market size for the year 2024

In the automotive industry, gasoline-powered engines hold a significant market share in the passenger car segment due to several factors. Their lower emission levels, reduced vibration and noise, and lighter weight make them a preferred choice. Moreover, engine downsizing, which results in smaller gasoline engines compared to diesel, is another key driver. The price disparity between diesel and gasoline engines has diminished in emerging markets like India and China, thereby limiting the growth of diesel engines. Given equal displacement and engine weight, gasoline engines generate more horsepower through higher RPM than their diesel counterparts, making them a more efficient option for consumers.

APAC is forecasted to hold the largest market size by region in 2024

In the Asia Pacific (APAC) automotive engine market, China and India hold the largest production shares due to their substantial automotive manufacturing bases. The region's market is anticipated to attract more low-cost manufacturers, particularly in China, due to the cost reduction of components and the availability of advanced and stable systems during the forecast period. Factors such as rising disposable income and improvements in living standards are fueling the demand for automobiles in APAC. Consequently, Original Equipment Manufacturers (OEMs) are establishing regional manufacturing plants to cater to this burgeoning market.

The Automotive Engine Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • 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
  • Yamaha Motor Co. Ltd.
.

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Research Analysis Overview

The automotive engine market is undergoing significant transformations with the focus shifting towards hybrid engines and zero emissions vehicles in response to increasing vehicle emissions and stricter emission standards. Hybrid engines, which combine traditional internal combustion engines with electric motors, offer flexibility and control through advanced engine control units and torque curves. These engines use aluminum alloys to reduce weight and improve fuel efficiency. The engine cycle is being optimized through simulations using tools like Simulink models and control strategies to minimize car pollutants and improve fuel consumption. The Neptun Ship project is a prime example of how electrification and hybrid electric engines are revolutionizing engine production. Compact engines and lightweight vehicles are also gaining popularity as travel restrictions and lockdowns continue to impact the automobile industry. The lifecycle of engines is becoming more important as sustainability and circular economy principles are integrated into engine design and manufacturing.

Market Research Overview

The automotive engine market is witnessing significant changes as passenger vehicles shift towards more environmentally-friendly options. Fuel type is a crucial factor in this transition, with hybrid engines gaining popularity due to their flexibility and control over vehicle emissions. General Motors and Renault are leading the charge in this area, producing innovative engines that meet stringent emission standards and offer improved fuel efficiency. The engine cycle, torque curve, and vehicle life are key considerations in engine design. Car pollutants, such as carbon monoxide, nitrogen oxides, and greenhouse gases, are under scrutiny as legislative bodies impose stricter regulations. To address these challenges, automakers are exploring the use of alternative fuels like electricity and ammonia, as well as lightweight components made of aluminum alloys. Simulation tools like Simulink are essential in designing and optimizing engine control strategies. These simulations help in understanding the performance of various control units and their impact on fuel consumption and emissions. The replacement cycle of engines is also becoming a revenue pocket for automakers, as consumers seek longer-lasting, high-performance engines. The electrification of vehicles, including electric buses and hybrid electric cars, is another trend shaping the automotive engine market. Diesel vehicles, once a staple in the industry, are facing increased scrutiny due to their harmful emissions. The lifecycle of engines, from production to travel restrictions and lockdowns, is a complex process that requires continuous innovation and adaptation. In conclusion, the automotive engine market is undergoing a significant transformation, driven by the need for more environmentally-friendly, fuel-efficient, and long-lasting engines. The use of advanced technologies, alternative fuels, and lightweight components is key to meeting emission standards and reducing greenhouse gas emissions. The future of the automotive engine market lies in the development of zero-emission engines and the production of lightweight, high-performance vehicles.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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