Automotive Engine Market: Size, Share, Trends & Forecast (2024-2029) 

The market report presents a thorough analysis segmented by Placement Type (In-Line Engine, V-Type Engine, W Engine); by Fuel Type (Gasoline, Diesel, Others); by Vehicle Type (Passengers Car, Commercial Vehicle); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).

Outlook 

• The automotive engine market is estimated to be at USD 399.76 Bn in 2024 and is anticipated to reach USD 543.57 Bn in 2029. 

• The automotive engine market is registering a CAGR of 6.34% during the forecast period 2024-2029. 

• The global automotive engine market is driven by advancements in engine technology, including a shift toward more fuel-efficient and low-emission engines. The market is undergoing a significant transition, with automakers increasingly focusing on electric and hybrid powertrains. 

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Ecosystem

• The participants in the global automotive engine industry invest heavily in improving Internal Combustion Engine (ICE) efficiency while navigating emissions regulations. 

• These companies primarily focus significantly on R&D to develop innovative engine technologies, along with forming strategic partnerships among other engine manufacturers to advance innovation and maintain a competitive edge in the market. 

• Several important entities in the automotive engine market include Cummins Inc.; Toyota Motor Corp.; General Motors Co.; Volkswagen AG; Fiat Automobiles SpA; and others. 

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Findings 

Attributes	Values
Historical Period	2018-2022
Base Year	2023
Forecast Period	2024-2029
Market Size (2024)	USD 399.76 Bn
Market Size (2029)	USD 543.57 Bn
Growth Rate	6.34% CAGR from 2024 to 2029
Key Segments	Placement Type (In-Line Engine, V-Type Engine, W Engine); Fuel Type (Gasoline, Diesel, Others); Vehicle Type (Passengers Car, Commercial Vehicle); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa)
Key Vendors	Cummins Inc.; Toyota Motor Corp.; General Motors Co.; Volkswagen AG; Fiat Automobiles SpA
Key Countries	The US; Canada; Mexico; Brazil; Argentina; Colombia; Chile; China; India; Japan; South Korea; The UK; Germany; Italy; France; Spain; Turkey; UAE; Saudi Arabia; Egypt; South Africa
Largest Market	Asia Pacific

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Trends  

• Use of Lightweight Materials: To improve engine performance and fuel efficiency, manufacturers are increasingly utilizing lightweight materials such as aluminum and carbon fiber in engine components. In 2023, Ford introduced engines with advanced aluminum alloys, reducing overall vehicle weight. 

• Focus on Thermal Efficiency: Thermal efficiency is becoming a key focus for engine manufacturers to maximize power output and reduce fuel consumption. In 2023, Mazda introduced a new engine with Skyactiv-X technology, which uses compression ignition to improve thermal efficiency and reduce emissions. 

• Focus on Engine Downsizing: To meet stricter emission standards and improve fuel efficiency, manufacturers are focusing on engine downsizing. For example, Ford has popularized turbocharged 3-cylinder engines, like the EcoBoost series, which offer the power of larger engines while maintaining lower fuel consumption. 

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Catalysts 

• Stringent Emission Regulations: Stricter emission regulations are pushing manufacturers to innovate in ICE technologies, meeting the requirements favoring emission control. In 2023, the U.S. Environmental Protection Agency (EPA) introduced updated fuel efficiency standards, leading to advancements in cleaner and more efficient ICE engines from companies like General Motors and Fiat Chrysler. 

• Increasing Vehicle Production: Emerging markets like India, Brazil, and Indonesia are witnessing robust growth in vehicle production, which drives demand for conventional gasoline and diesel engines. In 2023, Maruti Suzuki reported a 15% increase in vehicle production in India, contributing to the rising demand for gasoline-powered engines. 

• Rising Demand for High-Performance Engines: Consumers are increasingly seeking vehicles with high-performance engines, particularly in the luxury and sports car segments. In 2023, Mercedes-Benz launched its AMG engine lineup, which emphasizes power and performance, targeting high-end customers looking for top-tier engine capabilities. 

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Restraints 

• Increasing Demand for Electric Vehicles: The rising popularity of electric vehicles is significantly impacting the demand for traditional internal combustion engine (ICE) vehicles. As governments introduce stricter emissions regulations and provide incentives for EV adoption, consumer preferences are shifting towards cleaner alternatives. 

• Supply Chain Disruptions: The automotive industry has been grappling with significant supply chain disruptions, particularly affecting the availability of essential components such as semiconductors, steel, and engine parts. In 2023, Ford faced delays in engine production due to the global semiconductor shortage, leading to extended delivery times for several vehicle models. 

• Tightening Emission Standards: Stricter emission regulations are making it challenging for manufacturers to comply while maintaining performance. In 2023, BMW faced challenges meeting the stringent Euro 7 emission standards with its ICE engines, leading to increased R&D expenses to develop compliant technologies. 

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Table of Contents 

1.       Introduction         1.1.    Research Methodology         1.2.    Scope of the Study  2.       Market Overview / Executive Summary         2.1.    Global Automotive Engine Market (2018 – 2022)         2.2.    Global Automotive Engine Market (2023 – 2029)  3.       Market Segmentation         3.1.    Global Automotive Engine Market by Placement Type                3.1.1.    In-Line Engine                3.1.2.    V-Type Engine                3.1.3.    W Engine         3.2.    Global Automotive Engine Market by Fuel Type                3.2.1.    Gasoline                3.2.2.    Diesel                3.2.3.    Others         3.3.    Global Automotive Engine Market by Vehicle Type                3.3.1.    Passengers Car                3.3.2.    Commercial Vehicle  4.       Regional Segmentation         4.1.    North America                4.1.1.    The US                4.1.2.    Canada                4.1.3.    Mexico         4.2.    South America                4.2.1.    Brazil                4.2.2.    Argentina                4.2.3.    Colombia                4.2.4.    Chile                4.2.5.    Rest of South America         4.3.    Asia Pacific                4.3.1.    China                4.3.2.    India                4.3.3.    Japan                4.3.4.    South Korea                4.3.5.    Rest of Asia Pacific         4.4.    Europe                4.4.1.    The UK                 4.4.2.    Germany                4.4.3.    Italy                4.4.4.    France                4.4.5.    Spain                4.4.6.    Rest of Europe         4.5.    The Middle East                4.5.1.    Turkey                4.5.2.    UAE                4.5.3.    Saudi Arabia                4.5.4.    Rest of the Middle East         4.6.    Africa                4.6.1.    Egypt                4.6.2.    South Africa                4.6.3.    Rest of Africa  5.       Value Chain Analysis of the Global Automotive Engine Market  6.       Porter Five Forces Analysis         6.1.    Threats of New Entrants         6.2.    Threats of Substitutes         6.3.    Bargaining Power of Buyers         6.4.    Bargaining Power of Suppliers         6.5.    Competition in the Industry  7.       Trends, Drivers and Challenges Analysis         7.1.    Market Trends         7.1.1.    Market Trend 1         7.1.2.    Market Trend 2         7.1.3.    Market Trend 3         7.2.    Market Drivers         7.2.1.    Market Driver 1         7.2.2.    Market Driver 2         7.2.3.    Market Driver 3         7.3.    Market Challenges         7.3.1.    Market Challenge 1         7.3.2.    Market Challenge 2         7.3.3.    Market Challenge 3  8.       Opportunities Analysis         8.1.    Market Opportunity 1         8.2.    Market Opportunity 2         8.3.    Market Opportunity 3  9.       Competitive Landscape         9.1.    Cummins Inc.         9.2.    Toyota Motor Corp.         9.3.    General Motors Co.         9.4.    Volkswagen AG         9.5.    Fiat Automobiles SpA         9.6.    Company 6         9.7.    Company 7         9.8.    Company 8         9.9.    Company 9         9.10.  Company 10

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Automotive Engine Market – FAQs 

1.  What is the current size of the automotive engine market? 

Ans. In 2024, the automotive engine market size is USD 399.76 Bn. 

2.  Who are the major vendors in the automotive engine market?  

Ans. The major vendors in the automotive engine market are Cummins Inc.; Toyota Motor Corp.; General Motors Co.; Volkswagen AG; Fiat Automobiles SpA 

3.  Which segments are covered under the automotive engine market segments analysis?  

Ans. The automotive engine market report offers in-depth insights into Placement Type, Fuel Type, Vehicle Type, and Geography.