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Automotive Powertrain Systems Market Size
- 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.
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Automotive Powertrain Systems Market Size in 2022: | USD 831 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 8.2% |
| 2032 Value Projection: | USD 1.77 Trillion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 173 |
| Segments covered: | Powertrain type, Vehicle type, Sales Channel, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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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.
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Automotive Powertrain Systems Market Scope
