Global Automotive Engine Market 2017-2021
About Automotive Engine
An engine is a device that helps convert the chemical energy of fuel into mechanical energy to produce power. The internal combustion (IC) engine used in the automobiles is fueled by petrol, diesel, propane or natural gas. The growth of the automotive engines is hindered with the rising demand for electric and hybrid vehicles. Among the types of the engine, in-line engines, which accounted for around 73% of the share in 2016 are the widely used engines in automobiles.
Technavio’s analysts forecast the global automotive engine market to grow at a CAGR of 3.00% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive engine market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Engine Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive engine market: Cummins, General Motors, Fiat, Ford Motor Company, Toyota, and Volkswagen.
Other Prominent Vendors in the market are: BMW, Daimler Group, Honda, Hyundai, Mitsubishi Motors, PSA Group, Renault, Suzuki, and Volvo.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is development of multi-fuel engines. Engines capable of running on two or more different fuels with similar effectiveness and emissions are called multi-fuel engines. Usually, multi-fuel engines work on the combination of wide variety of fuels ranges from diesel oil, crude oil to lighter oils such as gasoline. It should have a high compression ratio as gasoline has low cetane numbers.”
According to the report, one driver in the market is increase in engine downsizing. The power of an automobile is determined by its engine size. The number of liters displaced on the car piston with the engine cylinders was the basis of the design of the engine. There was a combination of improvements to the entire engine design to make it more efficient. The downsizing is one of those improvements, and use of turbochargers with compressor blades that reduce the delay in initial acceleration is another. Downsized turbocharged engines increase torque and reduce fuel consumption.
Further, the report states that one challenge in the market is high cost associated with new vehicle development. The development of new vehicle models involves the designing of new chassis and body, suspension, and control systems. The new models must be tested to validate if they meet the expected performance requirements, aerodynamics, and durability standards. Testing procedures incur high costs as they are conducted using prototypes and computers by using specific software. Significant investments are required to provide logistics of human resources and materials required for testing.
Cummins, General Motors, Fiat, Ford Motor Company, Toyota, Volkswagen, BMW, Daimler Group, Honda, Hyundai, Mitsubishi Motors, PSA Group, Renault, Suzuki, and Volvo.
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