Promising market for automotive engines

The global automotive engine market is projected to grow from US$63.36 billion in 2015 to US$ 84.91 billion by 2020, at a CAGR of 6.03%, reports Markets and Markets. Meanwhile, the global automotive engine mounts market is projected to grow from US$3.62 billion in 2015 to US$4.93 billion by 2020, registering a CAGR of 6.38% from 2015 to 2020. The growing demand for high-power engines for racing and the increasing demand for luxury cars are some of the key drivers fuelling the growth of the global Automotive Engine Market.

Asia Pacific is estimated to account for the largest share of the global automotive engine market in 2015. OEMs in Asia-Pacific have been focusing on developing technologically advanced automotive engines to produce high power and torque. The Asia Pacific engine mounts market, in terms of value, is projected to grow at a promising CAGR during the forecast period. The North American region has been segmented into the U.S., Canada, and Mexico. North America is estimated to account for the second-largest share in the global Automotive Engine Market in 2015.