The global automotive powertrain market was valued at USD 792.25 billion in 2023 and is estimated to reach approximately USD 3095.75 billion by 2032, at a CAGR of 16.3% from 2024 to 2032.
The market for automotive powertrains includes all of the essential parts that drive cars, such as engines, transmissions, and related technologies. Acting as the vehicle's nervous system, it transforms energy into motion and sets performance parameters. Advances have caused a significant shift in powertrain technology over time. Hybrid systems, electric motors, and fuel cells have been added...
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