Automotive Engine Components Market Size to Boost USD 130.46 Bn by 2034 | Towards Automotive Research Report

According to Towards Automotive, the global automotive engine components market size is calculated at USD 87.48 billion in 2025 and is expected to reach around USD 130.46 billion by 2034, growing at a CAGR of 4.54% from 2024 to 2034.

/EIN News/ -- Ottawa, May 06, 2025 (GLOBE NEWSWIRE) -- The global automotive engine components market size was valued at USD 83.68 billion in 2024 and is predicted to hit around USD 130.46 billion by 2034, a study published by Towards Automotive a sister firm of Precedence Research.

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Market Overview:

Automotive engine components are crucial for maintaining the performance, efficiency, and durability of internal combustion engines. These components encompass essential parts like pistons, crankshafts, camshafts, valves, and timing belts, all of which work together to facilitate power generation, fuel combustion, and emissions control. Despite the rise of electrification trends, the market is on a steady upward trajectory, driven by the ongoing global production of internal combustion engine (ICE) vehicles. Growing demand for fuel-efficient and high-performance engines and heightened consumer awareness regarding vehicle maintenance are further driving market growth.

Recent Product Innovations by Top Market Companies

Sr. No.	Name of the Company	Name of the Model	Name of the Brand	Usage
1.	Robert Bosch GmbH	EV14 Fuel Injector	Bosch	Precision fuel delivery in internal combustion engines
		Engine Management System (EMS)	Bosch	Engine control and optimization
2.	DENSO Corporation	Iridium TT Spark Plug	DENSO	Ignition component for gasoline engines
		EGR Valve	DENSO	Emission control in combustion engines
3.	MAHLE GmbH	Lightweight Pistons	MAHLE	Engine performance and weight reduction
		Cylinder Components with Nanocoating	MAHLE	Durability and heat resistance in combustion engines

Advancements such as lightweight materials and precise manufacturing methods are enhancing component reliability and vehicle efficiency. Moreover, regulatory requirements aimed at lowering emissions are compelling automakers to innovate engine designs, consequently increasing the demand for advanced components. Even with the expansion of the electric vehicle industry, ICE vehicles remain predominant in many areas, creating the need for engine components for both passenger and commercial vehicles.

Major Trends in the Automotive Engine Components Market:

• Adoption of Lightweight Materials: Manufacturers are progressively utilizing aluminum alloys, composites, and high-strength plastics in engine components to decrease vehicle weight and improve fuel efficiency without sacrificing structural integrity.
• Precision Engineering & 3D Printing: The emergence of sophisticated manufacturing techniques like 3D printing allows for the creation of highly customized and efficient engine parts, enhancing performance while lowering production costs.
• Demand for Hybrid Engines: The increase in hybrid vehicles is spurring the need for dual-function engine components that work harmoniously with electric motors and conventional ICE systems, ensuring optimized performance and fuel efficiency.
  

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Limitations & Challenges in the Automotive Engine Components Market:

• Growth of the EV Industry: The global transition toward electric vehicles poses a threat to the long-term demand for traditional engine components, as EVs do not require internal combustion engines or associated components.
• High Research and Development Costs: Creating advanced engine components that achieve lower emissions and higher efficiency necessitates significant investments in R&D, which can burden smaller manufacturers and diminish profit margins.
• Stringent Emission Regulations: Adhering to varying emission standards across different countries necessitates frequent redesigns and adjustments of engine components, leading to operational and regulatory challenges for manufacturers worldwide.
  

Opportunity In the Automotive Engine Components Market

One of the most significant opportunities in the automotive engine components market lies in the creation of advanced engine parts for hybrid and low-emission vehicles. As governments impose stricter emission regulations globally, automakers are in search of innovative engine solutions that ensure a balance between power, fuel efficiency, and reduced environmental impact. This trend presents a substantial opportunity for component manufacturers to provide turbochargers, start-stop systems, exhaust gas recirculation units, and lightweight, durable materials. Additionally, the expanding automotive industry in the Asia Pacific and Latin America present considerable growth opportunities, especially within the commercial and heavy-duty vehicle segments, where internal combustion engines are expected to remain prevalent.

Regional Analysis:

Asia Pacific: Leader in the Automotive Engine Components Market

Asia Pacific dominated the market with the largest share in 2024, owing to its extensive automotive manufacturing infrastructure, particularly in nations such as China, Japan, and India. This region enjoys robust domestic demand, low labor costs, and supportive government policies that promote automotive production. The growth in vehicle ownership, urbanization, and increasing income levels are all factors contributing to the region's ongoing expansion.

Top Asia Pacific Countries for Automotive Engine Components Production

• China: China holds the title of the largest automotive producer in the world, accompanied by an expansive network of component manufacturers and significant government backing for internal combustion engine vehicle production and advancements in high-performance engine technologies.
• Japan: Japan excels in precision-engineered engine components, fueled by its globally recognized automotive brands and ongoing advancements in hybrid engine systems along with enhancements in internal combustion engine fuel efficiency. 
• India: India is experiencing substantial growth due to a surge in vehicle demand, a vibrant aftermarket sector, and increasing investments in locally manufactured, durable, and cost-effective engine components.
  

Local manufacturers are swiftly embracing advanced technologies and materials to boost engine efficiency while complying with emission regulations. The presence of major original automotive equipment manufacturers (OEMs) and a well-established supply chain further reinforces Asia Pacific's dominance in the market.

• In February 2025, ENEOS India unveiled its X-Series of synthetic engine oils at the Auto Expo Components Show 2025. These lubricants cater to petrol, diesel, and hybrid engines, aimed at enhancing fuel efficiency and extending engine longevity while adhering to strict emission standards. This launch highlights ENEOS’s commitment to performance and environmentally friendly automotive solutions.
  

North America’s Significant growth in the Automotive Engine Components Market

North America is expected to witness significant growth during the forecast period, driven by a revival in vehicle manufacturing, a growing consumer preference for fuel-efficient engines, and investments in cutting-edge technologies. The region's strict emission regulations are motivating original equipment manufacturers to adopt lightweight and high-performance components.

Major Factors for the Market’s Expansion in North America:

• Increasing EPA regulations in the U.S. are prompting the adoption of advanced engine components that enhance combustion efficiency, lower emissions, and support cleaner technologies in internal combustion engines.
• The growing interest in hybrid vehicles in North America is driving the need for dual-compatible engine components, fostering market growth for innovative systems that work with electric propulsion.
• A well-established vehicle maintenance and repair market in the region guarantees ongoing demand for replacement engine components, especially for light-duty trucks and performance vehicles.
• The rising popularity of hybrid vehicles, particularly in the U.S. and Canada, is further boosting the demand for precision engine parts.
• The presence of major automotive manufacturers and advanced research and development facilities also encourages innovation in engine design and materials.
  

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Segment Outlook

Vehicle Type Insights

The passenger cars segment dominated the market with the largest share in 2024 due to their increased production volume. Rapid increase in personal vehicle ownership, particularly in developing countries, drives the demand for high-performance and efficient engine components. Furthermore, advancements in passenger car engines focused on improving fuel efficiency and lowering emissions have spurred the need for precisely engineered engine parts, reinforcing this segment's position.

The light commercial vehicles segment is likely to expand at a notable CAGR during the upcoming period, driven by the growth of logistics, e-commerce, and delivery services. The rising need for effective urban mobility and fleet management is boosting LCV sales. As businesses are increasingly investing in light-duty transport options, there is a high demand for engine components that prioritize durability, fuel efficiency, and minimal maintenance, which fosters the segment’s growth.

Fuel Type Insights

The gasoline segment led the market with the largest share in 2024 due to the widespread adoption of gasoline engines, particularly in passenger vehicles. Their relatively lower initial costs, refined performance, and cleaner combustion compared to diesel power engines contribute to their popularity among consumers in both advanced and developing markets. This leading position is evident through the continued demand for engine components designed for gasoline engines, such as advanced intake and exhaust systems, as well as ignition systems that enhance power and efficiency.

The diesel segment is projected to grow at the fastest rate in the coming years. The growth of the segment can be attributed to the rising need for greater torque and fuel efficiency in trucks and light commercial vehicles. Components for diesel engines are becoming increasingly popular due to improvements in emission control technologies and the robustness of diesel systems. This segment's growth is further bolstered by strong demand in areas with a robust logistics and transportation industry, where diesel vehicles are essential for long-distance transport and heavy-duty tasks.

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Competitive Landscape

• Bosch
• Continental AG
• Denso Corporation
• Delphi Automotive (Aptiv)
• Magna International
• Mahle GmbH
• Valeo
• Aisin Seiki Co., Ltd.
• Schaeffler AG
• Eaton Corporation

Recent Breakthroughs in the Global Automotive Engine Components Market:

• In February 2025, Greaves Engineering unveiled cutting-edge engine technologies at Auto Expo 2025, including a Bi-Fuel Engine (running on gasoline and CNG), a Euro V+ compliant diesel engine, and a Hydrogen Internal Combustion Engine. These innovations highlight Greaves' dedication to sustainability and next-generation mobility solutions that promote cleaner and more efficient vehicle performance.
• In January 2025, American Axle & Manufacturing acquired the UK-based company Dowlais for USD 1.35 billion. This strategic move aims to enhance AAM’s global presence and bolster its capabilities in powertrain and drivetrain technologies, particularly within the electric vehicle domain. The acquisition is anticipated to create operational synergies and foster innovation in engine component technologies.
• In January 2025, MAHLE North America unveiled new innovations in electrification and thermal management at CES 2025, featuring a bionic battery cooling plate and owl-inspired noise-reducing fan. These technologies aim to improve the performance of electric and hybrid engines, showcasing MAHLE’s dedication to sustainable automotive solutions and enhancing component efficiency in the evolving North American vehicle market.
  

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Segments Covered in the Report

By Component Type

• Pistons
• Valves
• Crankshaft
• Camshaft
• Connecting Rods
• Others

By Vehicle Type

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Others

By Fuel Type

• Gasoline
• Diesel
• Electric
• Hybrid

By Sales Channel

• OEM
• Aftermarket

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
  

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