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(USGovernment-News.Com, August 14, 2018 ) Motor vehicle engine, power train, & parts industry includes establishments that manufacture and rebuild gasoline, electric engines and engine parts of motor vehicles. These engines may or may not be used in vehicles. Motor vehicle transmission and power train parts manufacturing companies manufacture and rebuild motor vehicle transmission and power train parts. Motor vehicle brake system manufacturing industry includes establishments manufacturing motor vehicle brake systems and related components.
The global motor vehicle engine, power train, & parts market was valued at $775 billion in 2017, and is expected to grow because of the positive economic outlook, increasing demand for transportation services owing to rapid urbanization, policy makers’ green energy funding initiative, advancements in technology and increasing consumer demand for fuel efficient vehicles.
Asia Pacific was the largest geographic region in the market, accounting for two-fifth of the global market share, due to the presence of a large number of motor vehicle manufacturing companies and train and component manufacturing companies in countries such as China, India and Japan. The market is split into the following segments: vehicle engine and engine parts and power train and power train parts.
China was the largest country in the market, accounting for one-fourth of the global market share, due to the presence of a large number of motor vehicle, aircraft and train manufacturing companies owing to strong demand from the domestic market. The country was also a hub to many motor vehicle, aircraft and ship component manufacturing companies. China was followed by India and Japan as the next largest countries in the market.
The major competitors in the market are Honda, BMW, Toyota, Mercedes-Benz, and Ford. Honda Motor Company, Ltd. is a Japanese public multinational conglomerate corporation primarily known as a manufacturer of automobiles, aircraft, motorcycles, and power equipment.
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