The Global Automotive Engine Market was worth US$ 97.71 billion in 2022 and is anticipated to reach a valuation of US$ 115.69 billion by 2028 and is predicted to register a CAGR of 2.83% during 2023-2028.

The motor vehicle market should expand significantly with the entrance of the newest technical advancements. due to a number of variables, including tight government regulations on fuel efficiency and rising demand for high-technology engines for the greatest performance of automobiles. The expansion of the auto engine industry is another factor contributing to the rise in disposable income; as a result, customers will spend more on luxury automobiles and commercial vehicles.

Market Drivers and Restraints

There are numerous chances for market expansion given the rising need for auxiliary power and construction equipment. Due to the development of new technologies and rising gas prices, the market for diesel engines is anticipated to grow. Over the next few years, it is also anticipated that significant investments will boost market demand in the mining and construction sectors. Over the course of the forecast period, increased penetration in a number of application sectors, including as transportation, energy, gas, and others, is anticipated to have an additional effect on the growth of the diesel engine market. Over the course of the forecast period, issues including the expensive diesel engine may impede the market growth.

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The report is segmented as follows:

The Automotive Engine Market is segmented by Placement; the Market is segmented by Vehicle Type; the Market is segmented by Fuel:

By Placement (In-Line Engine and V-Type Engine)

By Vehicle Type (Passenger, LCV, HCV)

By Fuel (Gasoline, Diesel, and Others)

Market Regional Segmentation:

During the forecast period, the Asia-Pacific region is expected to remain a major market for automotive engines. This is because both the North American and Asia-Pacific regions currently have a strong presence in the global automotive engine market, largely due to the implementation of environmental regulations in these regions, as well as in Europe.

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Impact of the COVID-19 pandemic on the market:

The globally integrated automotive industry was quickly and negatively impacted by the COVID-19 epidemic. Because of lockdowns and travel restrictions around the world, auto engine and component manufacturing sites have been closed, and consumer traffic in showrooms has dramatically decreased.

However, manufacturers are concentrating on new technologies such as the replacement of engine control units to increase the average life of cars, consequently enhancing the lifecycle of engines, hence the automotive engine market is anticipated to experience considerable growth throughout the forecast period. During the anticipated period, the market's players will likely benefit from the rising need for lightweight, fuel-efficient vehicles.

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