This Power Train and Power Train Parts market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.
The power train and power train parts market size has grown strongly in recent years. It will grow from $455.51 billion in 2024 to $496.6 billion in 2025 at a compound annual growth rate (CAGR) of 9%. The growth in the historic period can be attributed to stringent emission regulations, rising demand for automated transmission, growing trend of engine downsizing, rising demand for hybrid powertrains, increasing demand for passenger cars.
The power train and power train parts market size is expected to see strong growth in the next few years. It will grow to $678.29 billion in 2029 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to electrification and hybridization, autonomous vehicles, energy efficiency, connectivity and iot, green energy and hydrogen. Major trends in the forecast period include lightweighting, advanced materials and composites, digitalization and ai, remanufacturing and circular economy, modular powertrain systems.
The powertrain and powertrain parts market is being fueled by the growing demand for enhanced fuel efficiency in vehicles. Fuel consumption is inherently tied to factors such as engine performance, fuel type, and the efficiency of energy transfer to the wheels. The powertrain system serves as the conduit for transmitting engine power to the vehicle's wheels while optimizing engine speed to conserve fuel. Consumer demand for improved fuel economy is strong, with an impressive 85% of American adults, according to a Consumer Reports survey, advocating for continuous advancements in fuel efficiency across all vehicle types. This drive for increased fuel efficiency encourages the development of innovative and economical powertrain systems.
The surging interest in electric vehicles (EVs) is poised to be a significant driver for the powertrain and powertrain parts market. Electric vehicles, powered primarily by electric motors, rely on electric powertrains comprising components like electric motors, power electronics, and battery systems. The growth of the powertrain parts market is intrinsically linked to the development and production of these essential components, including electric motors, inverters, and other EV-specific parts. Notably, in January 2024, the U.S. Energy Information Administration (EIA), a U.S.-based agency, reported that combined sales of hybrid vehicles, plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs) in the United States represented 16.3% of all new light-duty vehicle (LDV) sales in 2023, an increase from 12.9% in 2022. This escalating demand for electric vehicles is propelling the expansion of the powertrain and powertrain parts market.
Key players in the powertrain and powertrain parts market are focusing on the development of PowerLine transmissions to enhance fuel efficiency, reduce emissions, improve performance, and address the increasing demand for advanced automatic transmission systems in vehicles. PowerLine transmission refers to a cutting-edge automatic transmission system designed primarily for commercial vehicles, offering improved fuel efficiency, better driving comfort, and superior performance. This new 8-speed automatic transmission is tailored to boost fuel efficiency and performance in medium-heavy trucks, pickups, and buses. For example, in February 2024, ZF Friedrichshafen AG, a Germany-based company, introduced PowerLine CV transmissions, an advanced automatic transmission. The PowerLine transmission can reduce fuel consumption by up to 10% compared to existing systems. This is achieved through a consumption-reducing overall ratio spread of 7.64 and an early closing of the torque converter, which optimizes power delivery and efficiency. It is designed to support engines with torque outputs of up to 1200 Nm, making it suitable for vehicles with a gross vehicle weight of up to 26 tons.
Major companies operating in the power train and power train parts market focus on developing hybrid transmissions to improve fuel efficiency, reduce emissions, and enhance overall vehicle performance by seamlessly integrating electric and internal combustion power sources. Hybrid transmission refers to a type of vehicle transmission system designed for hybrid vehicles, which combine an internal combustion engine (ICE) with one or more electric motors. This new transmission is designed to enhance decarbonization efforts while retaining the performance benefits of traditional combustion engines. For instance, in July 2024, ZF Friedrichshafen AG, a Germany-based company, launched TraXon 2 Hybrid transmission, a hybrid transmission. This hybrid transmission can be seamlessly integrated into existing vehicle platforms, allowing manufacturers to adopt hybrid technology with minimal disruption to their current designs. This flexibility supports both full-hybrid and plug-in hybrid configurations, enhancing its applicability across various commercial vehicle types.
In 2022, Cummins Inc. further solidified its market presence by acquiring Meritor for an undisclosed amount. This strategic acquisition positions Cummins as a leading provider of integrated powertrain solutions, encompassing both internal combustion engines and electric motors. Meritor, a supplier of drivetrain, mobility, braking, aftermarket, and electric powertrain solutions for commercial vehicles and industrial applications, strengthens Cummins' capabilities in delivering comprehensive powertrain solutions.
The powertrain and its components collectively constitute the set of elements responsible for propelling a vehicle forward. The powertrain within a vehicle harnesses the force generated by the engine and transmits it to the wheels in contact with the ground.
The primary categories of powertrain and powertrain components encompass passenger cars (PC), commercial vehicles (CV), off-road vehicles, construction equipment, defense vehicles, and agricultural vehicles. Commercial vehicles are those intended for commercial purposes, and the technologies involved often include hybrid and automated systems. Key components of the powertrain and its parts include the engine, transmission, driveshafts, differentials, and the final drive.
The power train and power train parts market research report is one of a series of new reports that provides power train and power train parts market statistics, including power train and power train parts industry global market size, regional shares, competitors with a power train and power train parts market share, detailed power train and power train parts market segments, market trends and opportunities, and any further data you may need to thrive in the power train and power train parts industry. This power train and power train parts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
Major companies operating in the power train and power train parts market include Ford Motor Company, General Motors Company, Volkswagen AG, ZF Friedrichshafen AG, Delphi Technologies Inc., Toyota Motor Corporation, JTEKT Corporation, Allison Transmission Holdings Inc., BorgWarner Inc., Hyundai Motor Company, Aisin Seiki Co. Ltd., JTEKT North America Corporation, AW North Carolina Inc., Dexter Axle Company, Kyklos Bearing International LLC, Deere & Company (John Deere Coffeyville Works), Altra Industrial Motion Corp. (Warner Electric LLC), Fabco Automotive Corporation, American Axle & Manufacturing Holdings Inc., Cloyes Gear and Products Inc., Powertech America Inc., Reliance Electric Company LLC, thyssenkrupp Crankshaft Company LLC, BorgWarner Transmission Systems Inc., Capco Automotive Products Corporation, The Gleason Works, MAHLE GmbH, AVL List GmbH, American Axle & Manufacturing Inc.
Asia-Pacific was the largest region in the power train and power train parts market in 2024. Western Europe was the second largest region in the power train and power train parts market. The regions covered in the power train and power train parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the power train and power train parts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The power train and power train parts market consist of sales of CV joints and the wheels. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The power train and power train parts market size has grown strongly in recent years. It will grow from $455.51 billion in 2024 to $496.6 billion in 2025 at a compound annual growth rate (CAGR) of 9%. The growth in the historic period can be attributed to stringent emission regulations, rising demand for automated transmission, growing trend of engine downsizing, rising demand for hybrid powertrains, increasing demand for passenger cars.
The power train and power train parts market size is expected to see strong growth in the next few years. It will grow to $678.29 billion in 2029 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to electrification and hybridization, autonomous vehicles, energy efficiency, connectivity and iot, green energy and hydrogen. Major trends in the forecast period include lightweighting, advanced materials and composites, digitalization and ai, remanufacturing and circular economy, modular powertrain systems.
The powertrain and powertrain parts market is being fueled by the growing demand for enhanced fuel efficiency in vehicles. Fuel consumption is inherently tied to factors such as engine performance, fuel type, and the efficiency of energy transfer to the wheels. The powertrain system serves as the conduit for transmitting engine power to the vehicle's wheels while optimizing engine speed to conserve fuel. Consumer demand for improved fuel economy is strong, with an impressive 85% of American adults, according to a Consumer Reports survey, advocating for continuous advancements in fuel efficiency across all vehicle types. This drive for increased fuel efficiency encourages the development of innovative and economical powertrain systems.
The surging interest in electric vehicles (EVs) is poised to be a significant driver for the powertrain and powertrain parts market. Electric vehicles, powered primarily by electric motors, rely on electric powertrains comprising components like electric motors, power electronics, and battery systems. The growth of the powertrain parts market is intrinsically linked to the development and production of these essential components, including electric motors, inverters, and other EV-specific parts. Notably, in January 2024, the U.S. Energy Information Administration (EIA), a U.S.-based agency, reported that combined sales of hybrid vehicles, plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs) in the United States represented 16.3% of all new light-duty vehicle (LDV) sales in 2023, an increase from 12.9% in 2022. This escalating demand for electric vehicles is propelling the expansion of the powertrain and powertrain parts market.
Key players in the powertrain and powertrain parts market are focusing on the development of PowerLine transmissions to enhance fuel efficiency, reduce emissions, improve performance, and address the increasing demand for advanced automatic transmission systems in vehicles. PowerLine transmission refers to a cutting-edge automatic transmission system designed primarily for commercial vehicles, offering improved fuel efficiency, better driving comfort, and superior performance. This new 8-speed automatic transmission is tailored to boost fuel efficiency and performance in medium-heavy trucks, pickups, and buses. For example, in February 2024, ZF Friedrichshafen AG, a Germany-based company, introduced PowerLine CV transmissions, an advanced automatic transmission. The PowerLine transmission can reduce fuel consumption by up to 10% compared to existing systems. This is achieved through a consumption-reducing overall ratio spread of 7.64 and an early closing of the torque converter, which optimizes power delivery and efficiency. It is designed to support engines with torque outputs of up to 1200 Nm, making it suitable for vehicles with a gross vehicle weight of up to 26 tons.
Major companies operating in the power train and power train parts market focus on developing hybrid transmissions to improve fuel efficiency, reduce emissions, and enhance overall vehicle performance by seamlessly integrating electric and internal combustion power sources. Hybrid transmission refers to a type of vehicle transmission system designed for hybrid vehicles, which combine an internal combustion engine (ICE) with one or more electric motors. This new transmission is designed to enhance decarbonization efforts while retaining the performance benefits of traditional combustion engines. For instance, in July 2024, ZF Friedrichshafen AG, a Germany-based company, launched TraXon 2 Hybrid transmission, a hybrid transmission. This hybrid transmission can be seamlessly integrated into existing vehicle platforms, allowing manufacturers to adopt hybrid technology with minimal disruption to their current designs. This flexibility supports both full-hybrid and plug-in hybrid configurations, enhancing its applicability across various commercial vehicle types.
In 2022, Cummins Inc. further solidified its market presence by acquiring Meritor for an undisclosed amount. This strategic acquisition positions Cummins as a leading provider of integrated powertrain solutions, encompassing both internal combustion engines and electric motors. Meritor, a supplier of drivetrain, mobility, braking, aftermarket, and electric powertrain solutions for commercial vehicles and industrial applications, strengthens Cummins' capabilities in delivering comprehensive powertrain solutions.
The powertrain and its components collectively constitute the set of elements responsible for propelling a vehicle forward. The powertrain within a vehicle harnesses the force generated by the engine and transmits it to the wheels in contact with the ground.
The primary categories of powertrain and powertrain components encompass passenger cars (PC), commercial vehicles (CV), off-road vehicles, construction equipment, defense vehicles, and agricultural vehicles. Commercial vehicles are those intended for commercial purposes, and the technologies involved often include hybrid and automated systems. Key components of the powertrain and its parts include the engine, transmission, driveshafts, differentials, and the final drive.
The power train and power train parts market research report is one of a series of new reports that provides power train and power train parts market statistics, including power train and power train parts industry global market size, regional shares, competitors with a power train and power train parts market share, detailed power train and power train parts market segments, market trends and opportunities, and any further data you may need to thrive in the power train and power train parts industry. This power train and power train parts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
Major companies operating in the power train and power train parts market include Ford Motor Company, General Motors Company, Volkswagen AG, ZF Friedrichshafen AG, Delphi Technologies Inc., Toyota Motor Corporation, JTEKT Corporation, Allison Transmission Holdings Inc., BorgWarner Inc., Hyundai Motor Company, Aisin Seiki Co. Ltd., JTEKT North America Corporation, AW North Carolina Inc., Dexter Axle Company, Kyklos Bearing International LLC, Deere & Company (John Deere Coffeyville Works), Altra Industrial Motion Corp. (Warner Electric LLC), Fabco Automotive Corporation, American Axle & Manufacturing Holdings Inc., Cloyes Gear and Products Inc., Powertech America Inc., Reliance Electric Company LLC, thyssenkrupp Crankshaft Company LLC, BorgWarner Transmission Systems Inc., Capco Automotive Products Corporation, The Gleason Works, MAHLE GmbH, AVL List GmbH, American Axle & Manufacturing Inc.
Asia-Pacific was the largest region in the power train and power train parts market in 2024. Western Europe was the second largest region in the power train and power train parts market. The regions covered in the power train and power train parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the power train and power train parts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The power train and power train parts market consist of sales of CV joints and the wheels. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Power Train and Power Train Parts Market Characteristics3. Power Train and Power Train Parts Market Trends and Strategies4. Power Train and Power Train Parts Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, and the Recovery from COVID-19 on the Market32. Global Power Train and Power Train Parts Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Power Train and Power Train Parts Market34. Recent Developments in the Power Train and Power Train Parts Market
5. Global Power Train and Power Train Parts Growth Analysis and Strategic Analysis Framework
6. Power Train and Power Train Parts Market Segmentation
7. Power Train and Power Train Parts Market Regional and Country Analysis
8. Asia-Pacific Power Train and Power Train Parts Market
9. China Power Train and Power Train Parts Market
10. India Power Train and Power Train Parts Market
11. Japan Power Train and Power Train Parts Market
12. Australia Power Train and Power Train Parts Market
13. Indonesia Power Train and Power Train Parts Market
14. South Korea Power Train and Power Train Parts Market
15. Western Europe Power Train and Power Train Parts Market
16. UK Power Train and Power Train Parts Market
17. Germany Power Train and Power Train Parts Market
18. France Power Train and Power Train Parts Market
19. Italy Power Train and Power Train Parts Market
20. Spain Power Train and Power Train Parts Market
21. Eastern Europe Power Train and Power Train Parts Market
22. Russia Power Train and Power Train Parts Market
23. North America Power Train and Power Train Parts Market
24. USA Power Train and Power Train Parts Market
25. Canada Power Train and Power Train Parts Market
26. South America Power Train and Power Train Parts Market
27. Brazil Power Train and Power Train Parts Market
28. Middle East Power Train and Power Train Parts Market
29. Africa Power Train and Power Train Parts Market
30. Power Train and Power Train Parts Market Competitive Landscape and Company Profiles
31. Power Train and Power Train Parts Market Other Major and Innovative Companies
35. Power Train and Power Train Parts Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Power Train and Power Train Parts Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on power train and power train parts market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for power train and power train parts ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The power train and power train parts market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include: the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Components: Engine; Transmission; Drive Shafts; Differentials; Final Drive2) By Technology: Hybrid; Automated
3) By Vehicle Type: Passenger Car (PC); Commercial Vehicle (CV); Off-Road Vehicles; Construction Equipment; Defense Vehicles; Agricultural Vehicles
Subsegments:
1) By Engine: Internal Combustion Engine (ICE); Electric Motor; Hybrid Engine (Combination of ICE and Electric Motor); Fuel Cell Engine2) By Transmission: Manual Transmission (MT); Automatic Transmission (AT); Continuously Variable Transmission (CVT); Dual-Clutch Transmission (DCT); Semi-Automatic Transmission
3) By Drive Shafts: Front Drive Shafts; Rear Drive Shafts; Propeller Shafts; Half Shafts
4) By Differentials: Open Differential; Limited-Slip Differential (LSD); Locking Differential; Electronic Differential
5) By Final Drive: Front Final Drive; Rear Final Drive; All-Wheel Drive (AWD) Final Drive; Four-Wheel Drive (4WD) Final Drive
Key Companies Mentioned: Ford Motor Company; General Motors Company; Volkswagen AG; ZF Friedrichshafen AG; Delphi Technologies Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
The major companies featured in this Power Train and Power Train Parts market report include:- Ford Motor Company
- General Motors Company
- Volkswagen AG
- ZF Friedrichshafen AG
- Delphi Technologies Inc.
- Toyota Motor Corporation
- JTEKT Corporation
- Allison Transmission Holdings Inc.
- BorgWarner Inc.
- Hyundai Motor Company
- Aisin Seiki Co. Ltd.
- JTEKT North America Corporation
- AW North Carolina Inc.
- Dexter Axle Company
- Kyklos Bearing International LLC
- Deere & Company (John Deere Coffeyville Works)
- Altra Industrial Motion Corp. (Warner Electric LLC)
- Fabco Automotive Corporation
- American Axle & Manufacturing Holdings Inc.
- Cloyes Gear and Products Inc.
- Powertech America Inc.
- Reliance Electric Company LLC
- thyssenkrupp Crankshaft Company LLC
- BorgWarner Transmission Systems Inc.
- Capco Automotive Products Corporation
- The Gleason Works
- MAHLE GmbH
- AVL List GmbH
- American Axle & Manufacturing Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | April 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 496.6 Billion |
| Forecasted Market Value ( USD | $ 678.29 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
