Automotive Engine Market Trends and Revolutionizing Mobility
Automotive Engine Industry Overview The global automotive engine market size was worth USD 94.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.5% from 2022 to 2030. The demand for the automotive engine is directly dependent on automotive production. Thus, increasing sales of passenger cars & commercial vehicles and emerging economies are driving the demand in the market. Factors such as the stringent regulatory standards for fuel efficiency and growing demand for technologically advanced powered engines for improved vehicle performance are driving the market growth. Consumer inclination for high-performance and fuel-efficient vehicles and extensive developments and prototypes from major automakers and OEMs are also propelling the growth. The COVID-19 outbreak hampered various industries in 2020. The economy is anticipated to continue experiencing the aftermath of the pandemic over the forecast period. Production was tempor...