Global Engine Component
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Engine Component Market size will be XX million by 2030, whereas its compound annual growth rate (CAGR) will be XX% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Market Drivers:
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Market Restrains:
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Market Trends:
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Market Split by Component Type |
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Market Split by Engine type |
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Market Split by End-Use Industry |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Engine Component Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The essential parts that comprise an internal combustion engine in an automobile or other kind of machinery are called engine components, which function together to transform fuel into mechanical energy. The engine block, spark plugs, fuel injectors, valves, crankshaft, camshaft, and auxiliary parts are examples of common components. In a variety of applications, these assist with power generation, fuel efficiency, and pollution control.
The emergence of 3D printing technology has improved the designing of engine components, such as the screw tap assembly, valve tappet, and retainer, among others. The growing emphasis on energy-efficient engine components and the growing demand for lightweight automobiles, along with the growing concerns of government bodies and environmental activists for reducing the emissions from vehicles to comply with international norms and standards, are some of the major and vital factors that are likely to augment the growth of the engine component market.
The need to lower vehicle emissions and increase fuel efficiency are the main factors driving the massive global upswing in the engine components market. Governments across the globe are implementing strict policies to tackle environmental issues, which is forcing manufacturers to make significant investments in cutting-edge engine technologies. Engine component suppliers are innovating in areas including precision engineering, lightweight materials, and combustion efficiency in response to the increased need for fuel-efficient solutions. The engine components market is expanding at a remarkable pace as automakers work to comply with increasingly stringent pollution regulations. There are businesses dedicated to creating products that not only fulfill legal specifications but also enhance the overall sustainability and performance of vehicles. Because of this changing environment, engine component makers are better positioned to satisfy the changing demands of the automobile industry and tackle important environmental issues.
• For Instance: Intending to cut CO2 emissions from cars and vans, the European Union has set high goals. Automakers have been told that by 2030, new vehicles should emit 37.5% less CO2 on average than they did in 2021, and new vans should emit 31% less CO2 on average.
https://www.transportpolicy.net/standard/eu-light-duty-ghg-emissions/
The market for engine components has benefited as a result of automakers being forced to make significant investments in new engine technologies.
Government measures to reduce vehicle emissions and growing environmental concerns are driving strict emission limits. Manufacturers of engine components are being compelled by these laws to reconsider their efforts to create engine components and other environmentally friendly components that use less fuel. Consequently, there is a noticeable emphasis on technology like enhanced fuel injection systems, sophisticated catalytic converters, and hybrid or electric powertrains that lower hazardous emissions. Manufacturers are spending more money on R&D to achieve these strict requirements and continue to comply with ever-changing regulatory frameworks.
Automotive manufacturers are incorporating cutting-edge technologies into their engine component designs to improve fuel efficiency and lower emissions due to these rules. This includes refining the combustion process, utilizing lightweight materials to increase vehicle economy, and investigating hydrogen and biofuels as alternative fuels.
The market for engine components is facing significant challenges due to the rapid uptake of electric vehicles (EVs). The demand for conventional internal combustion engine components is being threatened by the automotive industry's radical shift toward sustainable mobility. Manufacturers of engine components must strategically reevaluate their long-term viability in the context of the widespread shift towards electric vehicles and consider diversifying into electric propulsion systems. Even though hybrid solutions offer potential, businesses that are firmly rooted in the production of traditional engine components face a significant challenge as a result of the overall shift toward electric mobility. Manufacturers must move quickly to adapt to this paradigm shift to remain competitive and relevant in the quickly changing automotive industry, which is driven by electrification.
In addition, governments worldwide are encouraging the use of electric vehicles (EVs) to lower emissions and enhance air quality. Numerous incentives, including tax breaks, subsidies, and access to HOV lanes, are being used to achieve this.
• For Instance: In Apr 2024 - The US government granted a federal tax credit of up to USD 7,500, for the purchase of a new electric vehicle. Additionally, many states provided incentives, such as tax credits and rebates.
https://www.edmunds.com/fuel-economy/the-ins-and-outs-of-electric-vehicle-tax-credits.html
For manufacturers of engine component materials, the COVID-19 pandemic outbreak resulted in unstable markets, a decline in consumer trust, and challenges with import and export trade. The global supply chain includes the sourcing of raw materials, packaging, and distribution. Moving goods, labels, and other materials has grown harder as a result of lockdowns. It had immediate effects on supply chains, demand and supply, and marketplaces, along with all of these additional factors. It also had a financial impact on the automobile markets. The pandemic changed the industry's dynamics. forcing businesses to entirely reconsider their business strategies to maintain stability despite disruptions. Along with that, the outbreak has impacted the companies' business operations, impacting the engine component sector as a whole. The market for engine components has been impacted in part by this.
Despite the challenges posed by the increasing prevalence of electric vehicles (EVs), the market for engine components recognizes a strategic window of opportunity presented by the ongoing advancement of engine technology, particularly concerning hybrid solutions. Hybrid cars, which combine electric and internal combustion engines, are a significant market opportunity. Manufacturers of engine components are in an excellent position to take advantage of this trend by focusing their efforts on creating components that work seamlessly with hybrid systems, increasing the overall efficiency of vehicles. In addition to addressing the realities of the market currently, the pursuit of hybridization puts businesses in a position to adapt to changing consumer preferences and provide a feasible path for long-term growth in the rapidly changing automotive industry.
By focusing on hybrid solutions, engine component producers may serve a transitional market and provide customers with the advantages of both electric and conventional power sources. Companies may maintain their leadership position in advancements in technology within the automotive industry and play an essential role in shaping the next generation of automobile transportation by promoting innovation in components that maximize the synergy between internal combustion engines and electric systems.
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The market for engine components is extremely competitive worldwide, with plenty of large and medium-sized businesses controlling a sizable portion of the income. Both new and existing joint venture enterprises influence the global engine components market. Leading businesses can propel international trade by implementing cutting-edge technologies and utilizing lightweight materials. These major participants are using a range of tactics, such as strategic contracts and agreements, mergers and acquisitions, and the development, testing, and launch of more potent products.
Top Companies Market Share in Engine Component Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
Global Engine Component Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Engine Component Industry growth. Engine Component market has been segmented with the help of its Component Type, Engine type End-Use Industry , and others. Engine Component market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on the Component Type, the global Engine Component market is divided into Internal Components and External Components.
The internal components category holds a dominant position in the global market. Its vital significance in the fundamental operation of internal combustion engines accounts for its dominance. Pistons, crankshafts, and camshafts are examples of internal parts that are essential to the combustion process and have a direct effect on the engine's output, efficiency, and performance. Innovations in internal components remain in high demand as engine technology continues to focus on improving combustion efficiency and lowering emissions. The internal components segment is further propelled by the growing focus on precise engineering and lightweight materials, which solidifies its present market leadership.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Engine Component Industry. Request a Free Sample PDF!
Based on the Engine Type, the global Engine Component market is segmented into Gasoline Engines, Diesel Engines, and Hybrid Engines
The global industry's largest shareholding section is of gasoline engines. Numerous factors contribute to this supremacy. First off, passenger cars, which comprise a significant portion of the automobile market, have historically relied mostly on gasoline engines. Their prevailing market share is a result of the widespread use of gasoline engines in automobiles and light-duty trucks. Furthermore, their appeal has been maintained by developments in gasoline engine technology, such as increased fuel efficiency and decreased emissions. Furthermore, the global focus on environmental regulations and the growing inclination of consumers towards gasoline-powered vehicles, especially in Asia-Pacific regions, further strengthen the demand for gasoline engine components and establish the sector as the market leader.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Engine Component market report 2024 Edition by contacting our team.
Based on the End Use Industry, the global Engine Component market is categorized into Automotive, Aerospace, Marine, and Industrial & Machinery.
The global market's leading shareholder segment is automotive. The widespread use of internal combustion engines in both passenger and commercial vehicles is the primary factor driving this. The significance of the automotive sector is shown by the vast number of cars on the road and the ongoing developments in automotive technology. Engine components are essential to ensuring the effectiveness, efficiency, and adherence to strict emissions regulations of automobiles. The automotive industry's need for engine components is further boosted by the continued emphasis on sustainable transportation on a global scale, solidifying its position as the market leader.
According to Cognitive Market Research, the Asia Pacific market dominated the worldwide engine components owing to strong economic growth, rising industrialization, and a rapidly expanding automobile industry. Due to the region's fast urbanization and growing disposable income, there is a significant increase in demand for automobiles, which puts a significant focus on engine components. Additionally, Asia Pacific is a major hub for manufacturing, drawing in major global automakers to set up shop and increasing demand for engine components. The engine component market in Asia Pacific is growing rapidly as nations like China, India, and Japan continue to see significant improvements in technology and automotive development. This solidifies the region's position as a major supplier to the global automotive industry. Furthermore, the region is in line with the worldwide trend towards sustainable transportation due to its proactive stance towards embracing and investing in green technologies. Asia-Pacific governments are enforcing stricter emission regulations, which is creating a need for sophisticated engine components that improve fuel economy and lessen environmental effects.
Intending to encourage the growth of the engine component industry, the Japanese government has put in place a range of initiatives. These initiatives include funding for the development of new engine technologies, tax breaks for businesses investing in environmental protection measures, and the establishment of industry-academia collaboration programs aimed at fostering the creation of creative engine solutions.
The Chinese government has set up a variety of measures to encourage the expansion of the automobile sector, such as tax breaks for the manufacture of electric vehicles, industrial parks built especially for the automotive sector, and subsidies for the purchase of new cars.
• For Instance: According to the government's "Made in China 2025" strategy, China aimed to become a global leader in high-tech manufacturing, including the manufacture of cutting-edge engine components.
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://merics.org/sites/default/files/2020-04/MPOC_8_MadeinChina_2025_final_3.pdf
According to Cognitive Market Research,North America is expected to have the largest engine component market in the globe. This region is home to several of the largest automakers globally, with a thriving automotive industry. The need for automobiles with high performance and low fuel consumption is increasing the need for advanced engine components. The stringent pollution regulations in the region are driving up demand for modern engine components like fuel injection, exhaust, and turbocharger systems. The rising demand for electric vehicles additionally drives up demand for components like electric motors and batteries. With these features in mind, it is predicted that during the estimated period, the North American engine component market will grow steadily.
The current report Scope analyzes Engine Component Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Senior Research Analyst at Cognitive Market Research
An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile & Transportation vertical.
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
The essential parts that comprise an internal combustion engine in an automobile or other kind of machinery are called engine components. The need to lower vehicle emissions and increase fuel efficiency are the main factors driving the massive global upswing in the engine components market. Government measures to reduce vehicle emissions and growing environmental concerns are driving strict emission limits. Hybrid cars, which combine electric and internal combustion engines, are a significant market opportunity. The Asia Pacific market dominated the worldwide engine components owing to strong economic growth, rising industrialization, and a rapidly expanding automobile industry
• For Instance: In May 2023 – A new engine-bearing component type from Schaeffler was intended to lower friction and boost fuel economy. According to the manufacturer, the improved bearing could cut fuel usage by up to 2%.
https://www.schaeffler.co.in/en/news-media/press_releases/press_releases_detail.jsp?id=87909696
Table of Content differs accordign to the user License selction. Current Displayed TOC is for the Corporate User License Report Edition. TOC Customization options: Add or Remove section's Or chapter's from the report. Specific section's of report can be ordered at a discounted price. If applicable; On Request Volume Data will also be provided (at an Additional Cost).
Component Type | Internal Components, External Components |
Engine type | Gasoline Engines, Diesel Engines, Hybrid Engines |
End-Use Industry | Automotive, Aerospace, Marine, Industrial & Machinery |
List of Competitors | Bosch, Valeo SA, Continental AG, Denso Corporation, Eaton Corporation, Magna International, Schaeffler AG, Delphi Automotive, Mahle GmbH, General Motors, GT Technologies, Tenneco Inc., Cummins Inc., Aisin Seiki Co. Ltd., Others |
This chapter will help you gain GLOBAL Market Analysis of Engine Component. Further deep in this chapter, you will be able to review Global Engine Component Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Chapter 2 North America Market Analysis
Executive Summary North America Market (2019 vs 2024 vs 2031)
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Engine Component Market Trends North America Engine Component Technological Road Map North America Engine Component Market Drivers North America Engine Component Market Restraints North America Engine Component Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia-Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Component Type Analysis 2019 -2031, will provide market size split by Component Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Component Type Analysis 2019 -2031
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Chapter 11 Market Split by Engine type Analysis 2019 -2031
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Chapter 12 Market Split by End-Use Industry Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Engine Component market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Internal Components have a significant impact on Engine Component market? |
What are the key factors affecting the Internal Components and External Components of Engine Component Market? |
What is the CAGR/Growth Rate of Gasoline Engines during the forecast period? |
By type, which segment accounted for largest share of the global Engine Component Market? |
Which region is expected to dominate the global Engine Component Market within the forecast period? |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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