The development of turbo charged rotary engine to drive market growth. The developments in the field of the automotive rotary engine have increased considerably over the past few years. Leading automakers have been investing in the research and development on their version of the rotary engine to make it commercially viable in the automotive market. The automotive industry is also witnessing potential developments wherein the automakers are integrating forced induction system with the conventional engine setup. analysts have predicted that the automotive engine cylinder block market will register a CAGR of close to 4% by 2023.
Prominent automotive OEMs preferring engine downsizing
The growing demand to make automotive engines more efficient and powerful is leading automotive OEMs to adopt engine downsizing technique. The downsized turbocharged engines increase torque and reduce fuel consumption. The trend of engine downsizing became prominent due to stringent regulations incorporated to curb emissions. A growing emphasis to curb carbon dioxide emissions and boost fuel efficiency has encouraged the OEMs to downsize the internal combustion engine.
Availability of public transportation
The increasing concerns about emissions have led various regulatory bodies, government organizations to focus on the shift toward enhancing the public transportation network of the region. The public vehicles are also using alternative sources of fuel from the use of conventional diesel or gasoline. As the transportation sector is one of the crucial contributors to the emissions, aggressive steps are called for to curb the same. The concerns mentioned above directed the focus on increasing the buses and coaches that operate on alternative fuels.
For the detailed list of factors that will drive and challenge the growth of the automotive engine cylinder block market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Martinrea International and Volkswagen the competitive environment is quite intense. Factors such as the prominent automotive OEMs preferring engine downsizing and the development of turbo charged rotary engine, will provide considerable growth opportunities to automotive engine cylinder block manufactures. Cooper, Cummins, Fiat Chrysler Automobiles, General Motors, Martinrea International, and Volkswagen are some of the major companies covered in this report.
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