Automotive Powertrain Market was valued at 386.42 billion in 2016, exhibiting a CAGR of 8% during 2016-2024![Automotive Powertrain Market Automotive Powertrain Market](https://www.maximizemarketresearch.com/wp-content/uploads/2018/07/Automotive-Powertrain-Market.png)
Powertrain contains of all key components of an automobile engine where combustion of fuel takes place. These components consist of engine, transmission, differentials, drive shafts, and final drive. Powertrain can be defined as the sum of entire components which is essential for the vehicle to convert stored energy into kinetic energy. This kinetic energy is produced by the powertrain used to move the vehicle.
Automotive Powertrain Market industry can be segmented by vehicle type into light commercial vehicle (LCV), passenger car and heavy commercial vehicle (HCV). By position, industry can be categorized into, all-wheel drive (AWD), front-wheel drive (FWD) and rear-wheel drive (RWD). The AWD vehicles industry is expected to proliferate owing to the varied benefits provided by AWD over FWD and RWD.
The Asia-Pacific (APAC) region profiled under the scope of the report Automotive Powertrain Market includes nations such as China, Japan, South Korea, and India. Growing demand for automated transmission and growing vehicle sales drive the Automotive Powertrain Market in this region. Tier 1 suppliers have a strong presence in this region. Likewise, vehicle manufacturers such as Toyota, Hyundai, and Honda also belong to this region that is the Automotive Powertrain Market leaders in the automotive segment globally. With emission rules becoming stricter in countries such as China, Japan, and India, OEMs in this region are trying to decrease the overall weight of the vehicle. As a result of the above factors, APAC region is expected to show highest growth rate overestimated period further boosting the Automotive Powertrain Market.
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