[Latest] Global Powertrain Machinery Market Size, Forecast, Analysis & Share Surpass US$ 287.3 Bn By 2032, At 7.1% CAGR

Global Powertrain Machinery Market was at US$ 112.5 Bn in 2022 and is growing to approx US$ 287.3 Bn by 2032, with a CAGR growth of 7.1% between 2023 and 2032.

AUSTIN, TEXAS, UNITED STATES, September 12, 2023/EINPresswire.com/ -- According to the study, The Global Powertrain Machinery Market¹ was estimated at USD 112.5 Billion in 2022 and is anticipated to reach around USD 287.3 Billion by 2032, growing at a CAGR of roughly 7.1% between 2023 and 2032.

Report URL: https://www.custommarketinsights.com/report/powertrain-machinery-market/

Global Powertrain Machinery Market²: Overview

The powertrain machinery market encompasses the global industry involved in designing, manufacturing, and distributing machinery and equipment used for producing powertrain components like engines, transmissions, and electric powertrains in automotive and transportation applications.

The powertrain machinery market is dynamic and technology-driven, characterized by continuous innovations in precision machining, automation, and smart manufacturing solutions. It caters to the evolving demands of the automotive industry, which is transitioning towards electric and hybrid vehicles, thus requiring advanced electric powertrain machinery.

Key trends include the integration of Industry 4.0 concepts, the adoption of IoT for smart and connected manufacturing processes, and advancements in electric powertrain machinery to meet the rising demand for sustainable transportation solutions.

Global Powertrain Machinery Market: Growth Drivers

Powertrain Machinery Market: Growth Factors and Dynamics

Technological Advancements: Ongoing innovations in powertrain machinery have led to the development of more efficient and automated manufacturing processes. Advancements in robotics, CNC (Computer Numerical Control) technology, and precision machining techniques have improved productivity and quality, driving market growth.

Stringent Emission Regulations: The implementation of strict emission regulations worldwide has compelled automotive manufacturers to adopt advanced powertrain technologies. Powertrain machinery plays a vital role in producing eco-friendly engines and components, meeting emission standards, and complying with environmental regulations.

Electric Vehicle (EV) Revolution: The transition towards electric vehicles has impacted the powertrain machinery market. The demand for powertrain machinery for the production of electric motors, batteries, and related components has surged, driven by the global shift towards sustainable transportation.

Growing Investment in Industrial Automation: The trend towards industrial automation, including the integration of Industry 4.0 concepts, has influenced the powertrain machinery market. Automated manufacturing processes, data analytics, and real-time monitoring enhance production efficiency and reduce operational costs, contributing to market growth.

Focus on Research and Development: Continuous research and development efforts in the powertrain machinery market drive innovation and the introduction of cutting-edge technologies. Manufacturers are investing in R&D to enhance machinery capabilities, optimize energy efficiency, and improve manufacturing processes, leading to higher-quality powertrain components and systems. These advancements boost market growth and maintain competitiveness in the industry.

Emphasis on Cost-Effectiveness and Operational Efficiency: In a competitive market environment, automotive manufacturers seek cost-effective solutions without compromising on quality and productivity. Powertrain machinery suppliers are responding by offering cost-efficient equipment that streamlines production processes, reduces material wastage, and improves overall operational efficiency. Meeting these demands contributes to the sustained growth of the powertrain machinery market, as manufacturers strive to optimize their operations and remain competitive in the industry.

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Key Insights:

A) As per the analysis shared by our research analyst, the Global Powertrain Machinery Market is estimated to grow annually at a CAGR of around 7.1% over the forecast period (2023-2032).
B) In terms of revenue, the Global Powertrain Machinery Market size was valued at around USD 112.5 Billion in 2023 and is projected to reach USD 287.3 Billion by 2032. Due to a variety of driving factors, the Market is predicted to rise at a significant rate.
C) ZF Friedrichshafen AG and WABCO Holdings Inc.: In 2020, ZF Friedrichshafen AG, a leading global technology company, completed the acquisition of WABCO Holdings Inc., a renowned supplier of commercial vehicle control systems.
D) Schaeffler Technologies AG & Co. KG and Elmotec Statomat Holding GmbH: In 2018, Schaeffler Technologies AG & Co. KG acquired Elmotec Statomat Holding GmbH, a specialized manufacturer of winding machines and automation systems, to enhance its production capabilities for electric powertrain components.
E) Health and Comfort Awareness: The pandemic has heightened consumer awareness of health and hygiene, leading to a greater emphasis on comfortable and breathable clothing, including socks. Multiple toe socks, known for their unique design and enhanced foot comfort, have gained popularity as people prioritize their overall well-being and seek comfortable apparel to support their daily activities. This health-conscious trend has contributed to the recovery of the multiple toe socks market as consumers opt for these specialized socks for their functional benefits.
F) E-commerce Growth: The recovery in the multiple toe socks market is driven by the growth of e-commerce platforms. Online shopping became the preferred choice for consumers during the pandemic, enabling sock manufacturers and retailers to reach a wider audience and cater to changing consumer preferences effectively.

Press Release For Global Powertrain Machinery Market: https://www.custommarketinsights.com/press-releases/powertrain-machinery-market-size/

Regional Landscape

North America: Growing demand for electric powertrain machinery, driven by the adoption of electric and hybrid vehicles. Strong emphasis on advanced automation and smart manufacturing technologies to meet emission regulations. Dominating players: BorgWarner Inc., Dana Incorporated, General Motors Company.

Europe: Significant focus on R&D for powertrain performance and eco-friendliness amid automotive shift to electric mobility. Dominating players: Continental AG, Schaeffler AG, ZF Friedrichshafen AG.

Asia-Pacific: Key player with a focus on expanding manufacturing capabilities, adopting automation for cost-effective solutions. Dominating players: Toyota Industries Corporation, Mitsubishi Electric Corporation, Hyundai Mobis Co., Ltd.

LAMEA: Rising investment in powertrain manufacturing infrastructure, and advanced machining technologies to cater to growing automotive demand. Dominating players: Cummins Inc., GKN Automotive Limited, Bosch Rexroth AG.

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Key Players

Siemens AG
Bosch Rexroth AG
ABB Ltd.
Schaeffler Technologies AG & Co. KG
Mitsubishi Electric Corporation
ZF Friedrichshafen AG
JTEKT Corporation
NSK Ltd.
MAG IAS GmbH
GKN Automotive Limited
Others

The Global Powertrain Machinery Market is segmented as follows:

By Component

Engine Machinery
Transmission Machinery
Drivetrain Machinery
Electric Powertrain Machinery

By Type

CNC Machining Equipment
Casting and Forging Machinery
Welding and Joining Machinery
Cutting and Grinding Equipment

By Application

Automotive Industry
Off-Highway Vehicles
Electric Vehicles
Aerospace and Defence

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
Global India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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¹ https://www.custommarketinsights.com/report/powertrain-machinery-market/
² https://www.custommarketinsights.com/press-releases/powertrain-machinery-market-size/
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