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COVID-19 Impact On Power Train Components Market Outlook: Ken Research
January 2021

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The Automobile power train is principally accountable for the power assignment from the transmission to the wheels. The automotive power train is created up of several components involving drive shafts, discrepancies, CV joints, U joints, and shafts with axles. All such are well-known as the vehicle's power train when straddling. The choice of the type of portion for the automotive power train reliant on the form of vehicle and the engine power output. Also, the form of automotive power train components to be chosen also reliant on the drive configuration whether it is a rear-wheel drive, front-wheel drive, four-wheel drive, or the fewer common eight-wheel or six-wheel drive. To decrease the weight of such automotive power train components, several lightweight materials have been produced, and aluminum is one such material that is obtaining popularity in the automotive power train components industry. Components of the Automotive Power train are contrived to accommodate a wide variety of operating temperatures, great shock resistance and vibration strength, high trustworthiness, and long-term stability. Frequently, these components are marketed through two distribution channels, comprising OEM and Aftermarket.

According to the report analysis, ‘COVID-19 Impact on Global Power Train Components Market by Vehicle Type (Light Commercial Vehicle (LCV), Passenger Car, and Heavy Commercial Vehicle (HCV)); By Engine Type (Gasoline and Diesel) and Region –Analysis of Market Size, Share and Trends for 2014 – 2019 and Forecasts to 2030’ states that the effective augment in the demand for automatic transmission and an augmenting trend for engine downsizing that decreases the fuel emissions and consumption is predicted to accentuate the growth of the market for automotive power trains. The prominent growth in the need for enhanced traction, great towing capability, and enhanced vehicle acceleration for safe driving to pass uncomplimentary terrain and bad weather situations are expected to drive requirement over the forecast period.

Strict government regulations for decreasing carbon dioxide emissions are also predicted to boost sales to prevent worldwide warming. With the aid of turbochargers, car producers are diverting to engine downsizing owing to strict fuel efficiency and emission norms. The effective growth in consumer spending, high requirement for cars, and advancement of the automotive system is also projected to be the noteworthy drivers for growth in the industry.

The worldwide pandemic COVID-19 has become worldwide stress, not just for human lives, but also for industries around dissimilar industry verticals. The COVID-19 syndrome has infected numerous million people globally, with an augmenting number of active cases daily, the duration of the pandemic is still problematic to predict. In the space of only a few months, there has been a foremost decrease in vehicle sales, leading to shutdowns around regions as well as precariousness in oil prices. The Renowned car OEMs is pursuing several strategies to decrease the pandemic's detrimental effect on their companies by appraising their dealerships to reestablish services.

Moreover, across the automotive sector, the short-term effect of COVID-19 has led to the shutdown of assemblage plants across the United States, manufacturing interruptions around Europe, and cessation of exports of Chinese parts, in the face of the lockdown condition. On the bright side, the automotive industry will persist strongly until a COVID-19 breakthrough is completed, thanks to ongoing endeavors by leading companies to curb sales losses through the enactment of turnaround strategies such as fusions and acquisitions and many more. Despite the foremost impact the innovative coronavirus has on the automotive industry, the online vehicle sales may appear as one of the growth promoters in the market. Moreover, the developing security and safety concerns amongst individuals and New Car Assessment Programs launched by corporates around the globe are other aspects that are propelling the market of the Power train Components Market.

For More Information on the Research Report, refer to below links: -

Global Power Train Components Market Analysis

Related Report:-

Automotive Composites Market by Type (Metal Matrix Composite, Polymer Matrix Composite and Ceramic Matrix Composite) for Interior, Exterior, Chassis & Powertrain Components and Others Applications: Global industry Perspective, Comprehensive Analysis and Forecast, 2015 - 2021

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