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Vehicle Engine And Engine Parts Market Revenue Outlook: What CAGR Lies Ahead Through 2030?
The vehicle engine and engine parts market size has grown strongly in recent years. It will grow from $437.46 billion in 2025 to $460.53 billion in 2026 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to global vehicle production growth, dominance of ICE engines, demand for engine performance, aftermarket parts demand, automotive manufacturing expansion.
The vehicle engine and engine parts market size is expected to see strong growth in the next few years. It will grow to $581.64 billion in 2030 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to ev transition acceleration, demand for low-emission engines, hydrogen engine development, smart engine control systems, advanced materials adoption. Major trends in the forecast period include shift toward hybrid and ev powertrains, adoption of lightweight engine components, growth of turbocharged engines, integration of advanced ecus, focus on fuel efficiency.
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Vehicle Engine And Engine Parts Market Growth Factors Behind Sustained Expansion
The increasing manufacturing of automobiles is expected to propel the growth of the vehicle engine and engine parts market going forward. Automobiles refer to motor vehicles designed for transporting passengers and goods, including passenger cars, commercial vehicles, and electric vehicles. The rise in automobile manufacturing is fueled by growing global demand for vehicles, driven by economic recovery, rising consumer income, and technological advancements in the automotive sector. Vehicle engine and engine parts enable the production and performance of automobiles, ensuring efficient power delivery, durability, and compliance with emission standards. For instance, in April 2024, according to the Serbian Association of Vehicle and Parts Importers, a Serbia-based professional automotive organization, the association reported that in 2023, 93,546,599 vehicles (including 67,133,570 passenger vehicles) were produced worldwide, up from 84,830,376 vehicles in 2022, highlighting a significant increase in global automotive output. Therefore, the increasing manufacturing of automobiles is driving the growth of the vehicle engine and engine parts market.
Vehicle Engine And Engine Parts Market Segments: Where Is Growth Concentrated?
The vehicle engine and engine parts market covered in this report is segmented –
1) By Product Type: Vehicle Engines, Vehicle Engine Parts
2) By Fuel Type: Gasoline (Petrol), Diesel, Gas, Other Fuel Types
3) By Placement Type: In-line Engine, W Engine And V-Type
Subsegments:
1) By Vehicle Engines: Internal Combustion Engines (ICE), Hybrid Vehicle Engines, Gasoline Engines, Diesel Engines, Natural Gas Engines, Hydrogen Engines
2) By Vehicle Engine Parts: Pistons, Crankshafts, Cylinder Heads, Camshafts, Engine Blocks, Timing Belts Or Chains, Turbochargers, Oil Pumps, Water Pumps, Valve Lifters, Timing Gears, Fuel Injectors, Bearings, Gaskets And Seals
Vehicle Engine And Engine Parts Market Industry Trends Fueling Future Revenue Growth
Major companies operating in the vehicle engine and engine parts market are focusing on technological advancement in automotive engineering, such as high power & torque to deliver superior performance and towing capability in heavy-duty trucks. High power & torque refers to an engine’s ability to generate substantial horsepower and rotational force for heavy loads. For instance, in January 2025, Cummins Inc., a U.S.-based global leader in diesel and alternative-fuel engines, launched the 2025 6.7L Turbo Diesel Pickup engine system for Ram Heavy Duty Trucks. This engine delivers up to 430 horsepower and 1,075 lb.-ft. of torque, featuring a variable-geometry turbocharger, high-pressure fuel injection, and optimized airflow, enhancing drivability, fuel efficiency, and reliability.
Vehicle Engine And Engine Parts Market Key Participants And Competitive Landscape
Major companies operating in the vehicle engine and engine parts market report include Cummins Inc., Toyota Motor Corporation, DENSO Corporation, Delphi Technologies PLC, Federal-Mogul LLC, MAHLE GmbH, Bayerische Motoren Werke Aktiengesellschaft, General Motors Company, Volkswagen AG, Fiat Chrysler Automobiles N.V., Volkswagen Group, Daimler AG, Stellantis N.V., Hyundai Motor Group, Nissan Motor Co. Ltd., Subaru Corporation, Volvo Group, Caterpillar Inc., Navistar International Corporation, Deere & Company, MAN Truck & Bus SE, Scania AB, PACCAR Inc., Wärtsilä Corporation, Perkins Engines Company Limited, MTU Friedrichshafen GmbH, Isuzu Motors Limited, CNH Industrial N.V.
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Vehicle Engine And Engine Parts Market Geographic Analysis: Where Is Demand Rising Fastest?
Asia-Pacific was the largest region in the vehicle engine and engine parts market in 2025. Western Europe was the second largest region in the vehicle engine and engine parts market. The regions covered in the vehicle engine and engine parts market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
