Global Motor Vehicle Parts Manufacturing Market, Global Motor Vehicle Parts Manufacturing Market Research Report

Motor Vehicle Parts Manufacturing Global Market Forecast To 2022

Asia Pacific was the largest region in the global motor vehicle parts manufacturing market, accounting for 41% of the market in 2018. Western Europe was the second largest region accounting for 26% of the global motor vehicle parts manufacturing market. Africa was the smallest region in the global motor vehicle parts manufacturing market.

Motor vehicle parts manufacturers are producing engines that offer higher fuel economy and better performance. Efficient combustion engines increase the fuel economy of motor vehicles and also enable motor vehicle manufacturers to meet emission norms of several state and national governments across the world. They are using technologies such as advanced ignition, direct fuel injection, variable valve timing, and advanced transmission to reduce engine size and increase its power. For instance, in December 2016, automotive manufacturer Toyota launched new engines based on its Toyota New Global Architecture (TNGA) for standard gasoline and hybrid vehicles. TNGA-based motor vehicle engines are expected to offer 20% better fuel economy and 10% better power performance, as compared to Toyota’s existing engines.

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