SANTA CLARA, California, July 9, 2020
Though electric and hybrid vehicles have gained traction in developed nations, they have yet to do so in niche markets like India, Eastern Europe, and Asia-Pacific
SANTA CLARA, California, July 9, 2020 /PRNewswire/ -- Frost & Sullivan's recent analysis, Global Powertrain Outlook, 2020, finds that global automotive sales are expected to decline by more than 14.2% due to COVID-19 by the end of 2020 as manufacturing facilities and supply chains are affected by worldwide lockdowns. However, this slowdown is not expected to have an impact on consumer purchase trends. Demand for diesel engines is expected to decline in Europe by 30% by the end of 2020 as Worldwide Harmonised Light Vehicles Test Procedure (WLPT) commences, while global electric vehicle (EV) sales are forecast to increase by about 3.4%, spurring demand for gasoline-hybrid and fully-electric powertrains.
For further information on this analysis, please visit: http://frost.ly/456
"OEMs will focus on hybridizing existing internal combustion engine (ICE) vehicles as full hybrids have proven to help comply with stricter regulations and have also enjoyed consumer success in recent times," said Naga Karthik Voruganti, Research Analyst, Automotive & Transportation at Frost & Sullivan. "Engine downsizing will continue, while the highly efficient gasoline direct injection (GDI) engines will continue seeing an increase in adoption. The integration of gasoline particulate filters (GPFs) and three-way catalytic converters (3WCs) is expected to increase substantially in 2020 with more OEMs seeking to get their gasoline-powered vehicles certified under the new WLTP regulations."
Voruganti also said mild-hybrid powertrains and the standardization of exhaust after-treatment technologies, such as selective catalytic reduction (SCR) and coated GPF, are major technology trends that could impact the powertrain industry in 2020.
The growth opportunities in the key regional markets will vary considerably. The main trends and growth opportunities in each key region are presented below:
Global Powertrain Outlook, 2020 is part of Frost & Sullivan's global Automotive and Transportation Growth Partnership Service program.
About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Global Powertrain Outlook, 2020