Internal Combustion Engine

Internal Combustion Engine Market Outlook

The global internal combustion engine (ICE) market is projected to reach approximately USD 1 trillion by 2035, with a compound annual growth rate (CAGR) of around 4.5% during the forecast period from 2025 to 2035. The market's growth is driven by several factors, including the increasing demand for automobiles across emerging economies, advancements in engine technology aimed at improving fuel efficiency and reducing emissions, and the continued reliance on internal combustion engines for a variety of applications, such as automotive, aerospace, marine, and power generation. Additionally, the rise in consumer preference for hybrid and electric vehicles is prompting manufacturers to innovate and enhance their ICE offerings, creating a dynamic environment characterized by competition and technological enhancement. As regulations regarding emissions become more stringent worldwide, the internal combustion engine market is adapting to meet these challenges while continuing to fulfill existing demand.

Growth Factor of the Market

The internal combustion engine market is witnessing significant growth owing to a combination of factors that reflect the evolving needs of various industries. Firstly, the expanding automotive sector, particularly in developing regions such as Asia-Pacific and Latin America, is propelling the demand for ICEs as more consumers gain access to vehicles. Furthermore, innovations in engine designs, such as turbocharging and variable valve timing, are enhancing performance and efficiency, thereby attracting a broader consumer base. Secondly, governments worldwide are investing in infrastructure development, which includes Transportation and logistical advances that require reliable engine technologies for power generation and marine applications. The rise of global logistics and the focus on sustainable transportation alternatives are also contributing positively to the market's growth trajectory. Lastly, the diversification of fuel options, including gasoline, diesel, natural gas, and hybrid configurations, provides flexibility and adaptability, helping the ICE market to remain relevant amidst the growing popularity of electric vehicles.

Key Highlights of the Market

• The global internal combustion engine market is anticipated to reach USD 1 trillion by 2035.
• Growing automotive demand in emerging economies is a significant growth driver.
• Technological advancements are enhancing fuel efficiency and reducing emissions.
• Diversification of fuel types, including hybrids, is shaping market dynamics.
• The market is adapting to stricter environmental regulations globally.

By Fuel Type

Gasoline:

The gasoline segment remains one of the dominant fuel types in the internal combustion engine market. Its widespread use in passenger vehicles is primarily due to its energy density, availability, and the extensive network of fueling infrastructure. Gasoline engines are known for their smooth operation, quick acceleration, and relatively lower emissions compared to diesel engines. However, the gasoline segment must contend with increasing regulatory pressures to improve fuel economy and reduce greenhouse gas emissions. Innovations such as direct fuel injection and turbocharging have been pivotal in enhancing the performance of gasoline engines while meeting environmental standards. Furthermore, advancements in hybrid technologies, where gasoline engines are used in tandem with electric systems, are expanding the appeal of this fuel type in the market.

Diesel:

Diesel engines continue to have a substantial market share within the internal combustion engine arena, especially in commercial vehicles, agricultural machinery, and marine applications. The advantages of diesel engines, such as higher torque, better fuel efficiency, and longevity, make them ideal for heavy-duty tasks. However, rising concerns regarding nitrogen oxide emissions and particulate matter have led to stricter regulations, prompting manufacturers to invest in advanced emission control technologies. The development of cleaner diesel technologies, such as selective catalytic reduction (SCR) and diesel particulate filters (DPF), is expected to enhance the appeal of diesel engines. Furthermore, the resilience of the diesel segment is bolstered by the growing energy needs of industrial and transportation sectors, particularly in regions where diesel remains the preferred fuel choice.

Natural Gas:

The natural gas segment is gaining traction in the internal combustion engine market, driven by its lower emissions profile compared to gasoline and diesel. Natural gas engines produce significantly fewer pollutants, making them an attractive option for fleets and industries striving for sustainability. Additionally, the abundance of natural gas resources and advancements in supply infrastructure contribute to its growing adoption in various applications, including public transportation and logistics. Moreover, the economic advantage of natural gas, especially when considering volatile oil prices, further solidifies its position in the market. However, challenges such as the need for specialized refueling infrastructure and the developmental costs associated with natural gas vehicles must be addressed for broader acceptance.

Hybrid:

The hybrid segment is emerging as a significant player in the internal combustion engine market, combining traditional ICEs with electric propulsion to optimize fuel efficiency and reduce emissions. Hybrid vehicles are capable of operating in multiple modes, allowing for reduced fuel consumption during city driving and improved range on highways. As consumer preferences shift towards environmentally friendly options, automakers are increasingly investing in hybrid technology, which serves as a transitional solution while the electric vehicle market matures. The support from governments through incentives and subsidies for hybrid vehicles is further driving growth in this segment. Additionally, the ongoing refinement of battery technologies and hybrid systems is expected to enhance performance and broaden the appeal of hybrid vehicles in the global market.

By Component

Cylinder Head:

The cylinder head is a critical component of internal combustion engines, playing a pivotal role in the engine's overall performance. It forms the top of the combustion chamber and houses essential components such as valves, spark plugs, and fuel injectors. The demand for advanced cylinder heads that offer improved airflow and thermal management is on the rise, as manufacturers aim to enhance engine efficiency and power output while minimizing emissions. Technological advancements in materials and design, such as lightweight composites and improved cooling channels, are driving the innovation in cylinder head production, meeting the needs of both traditional and modern engine designs. Furthermore, the trend towards high-performance vehicles is also boosting the demand for specialized cylinder heads engineered for enhanced performance and reliability.

Piston:

Pistons are fundamental components that convert the linear motion of combustion into rotational motion, making them vital for engine functionality. The market for pistons is experiencing growth as manufacturers seek to produce lightweight and high-strength options to improve fuel efficiency while maintaining durability. Innovations in piston design, such as reduced friction and enhanced heat resistance, are critical in enhancing engine performance and reducing fuel consumption. As engines evolve towards higher compression ratios and turbocharging, the need for advanced piston technology becomes crucial. Moreover, the robust demand for performance-oriented vehicles is also driving the development of specialized pistons tailored for high-performance applications, thereby expanding market opportunities.

Crankshaft:

The crankshaft is an essential component of internal combustion engines, as it converts the reciprocating motion of the pistons into rotational motion that powers the vehicle. Advances in crankshaft manufacturing techniques are allowing for the production of lighter and stronger crankshafts, which can improve engine efficiency and reduce overall weight. Additionally, the increasing adoption of turbocharged and high-output engines is driving demand for crankshafts that can withstand higher loads and stresses. Moreover, with the trend towards performance-oriented vehicles and the push for enhanced engine efficiency, manufacturers are focusing on developing innovative crankshaft designs that optimize performance, reduce vibrations, and contribute to overall engine longevity, making this segment a key area of advancement in the internal combustion engine market.

Engine Valves:

Engine valves are crucial components that control the intake of air-fuel mixtures and the exit of exhaust gases, playing a vital role in engine efficiency and performance. The growing emphasis on fuel efficiency and emission reductions has led manufacturers to invest in advanced valve technologies that enhance airflow and reduce weight. Innovations such as variable valve timing (VVT) systems and lightweight materials are gaining traction in the market, offering significant improvements in performance and efficiency. Furthermore, the increasing trend toward high-performance engines, such as those found in sports and luxury vehicles, is driving demand for advanced valve systems that can operate under demanding conditions. As the automotive industry adapts to changing consumer preferences and regulatory environments, engine valves will continue to evolve, meeting the needs of both conventional and hybrid propulsion systems.

By Use

Automotive:

The automotive segment is the largest consumer of internal combustion engines, accounting for a substantial portion of market demand. This segment encompasses a wide range of vehicles, from passenger cars to commercial trucks. As global vehicle ownership continues to rise, particularly in developing regions, the demand for internal combustion engines is expected to remain robust. The automotive sector is also witnessing a shift towards more fuel-efficient and environmentally friendly engine technologies, driven by consumer preferences and stringent emissions regulations. Manufacturers are increasingly investing in R&D to develop advanced engine designs that incorporate features such as turbocharging and direct fuel injection, providing enhanced performance while reducing emissions. Additionally, the growth of the hybrid vehicle market is influencing the automotive segment, as manufacturers seek to balance the benefits of traditional ICEs with the advantages of electric powertrains.

Aerospace:

In the aerospace sector, internal combustion engines play a vital role in powering various aircraft, including general aviation and unmanned aerial vehicles (UAVs). Although the aerospace market has seen a shift towards more fuel-efficient turbojet and turbofan engines, there remains a significant demand for piston engines, particularly in smaller aircraft and training applications. Innovations in engine design and materials are allowing manufacturers to develop lighter and more efficient engines that enhance aircraft performance while minimizing operational costs. Furthermore, the growing interest in UAVs for commercial and defense applications is driving demand for lightweight, high-performance internal combustion engines, as these platforms often require specific power-to-weight ratios for optimal performance. The aerospace segment continues to evolve, leveraging advancements in engine technologies to improve reliability and operational efficiency.

Marine:

The marine segment of the internal combustion engine market is characterized by the use of engines in various watercraft, including commercial vessels, recreational boats, and fishing boats. Diesel engines, in particular, dominate this segment due to their efficiency, torque characteristics, and ability to operate over long durations. The marine industry is increasingly focusing on environmental sustainability, leading to a growing demand for cleaner and more efficient engine technologies. Innovations such as hybrid propulsion systems and advanced emission control technologies are gaining traction among boat manufacturers seeking to comply with stringent environmental regulations. Additionally, the demand for leisure boating and commercial shipping is driving growth in the marine segment, highlighting the importance of internal combustion engines in facilitating global trade and recreational activities.

Power Generation:

The power generation segment employs internal combustion engines as backup and prime power sources, especially in remote and off-grid locations. Engines using diesel and natural gas are commonly utilized in generator sets, providing reliable energy solutions for residential, commercial, and industrial applications. The increasing need for uninterrupted power supply driven by urbanization and industrial growth is propelling demand in this segment. Additionally, the advancement of technologies in engine design and fuel efficiency is enhancing the attractiveness of internal combustion engines as reliable power sources. As renewable energy sources become more prevalent, the role of internal combustion engines in hybrid systems is also gaining importance, often serving as a reliable backup or supplementary power source to integrate with solar and wind systems.

By Sales Channel

OEM:

The Original Equipment Manufacturer (OEM) segment accounts for a significant share of the internal combustion engine market, as manufacturers supply engines directly to vehicle producers and equipment manufacturers. This channel is particularly crucial for the automotive industry, where vehicle manufacturers require reliable and efficient engines as part of their production processes. OEMs are increasingly collaborating with engine manufacturers to develop customized solutions that meet specific performance and efficiency standards. Additionally, the shift towards hybrid and electric vehicles is also prompting OEMs to invest in innovative engine technologies that can coexist with electric powertrains, thereby adapting to changing market demands. The OEM channel also benefits from the growing trend of integrated systems, where engines are designed to work seamlessly with other vehicle components, enhancing overall vehicle performance and reliability.

Aftermarket:

The aftermarket segment of the internal combustion engine market includes the supply of replacement engines, components, and services to end-users. This segment plays a crucial role in maintaining the performance and extending the lifespan of vehicles and equipment. The growing vehicle population, particularly in developing markets, is driving demand for aftermarket services, including repairs and maintenance. Additionally, the increasing trend of vehicle customization and upgrades is propelling the aftermarket segment, as consumers seek improved performance and efficiency from their engines. The rise of e-commerce and online marketplaces is also transforming the aftermarket landscape, providing consumers with greater access to parts and services. As the automotive industry continues to evolve, the aftermarket segment will remain essential in supporting the functionality and longevity of internal combustion engines across various applications.

By Region

The North American region is a significant contributor to the internal combustion engine market, accounting for a substantial market share due to its advanced automotive industry and high vehicle ownership rates. The presence of leading automotive manufacturers and a well-established supply chain further bolster the demand for internal combustion engines. Furthermore, regulatory frameworks in the region are driving innovations aimed at reducing emissions and improving fuel efficiency, resulting in a shift towards advanced engine technologies. The market is anticipated to grow at a CAGR of approximately 3.8% during the forecast period, as manufacturers adapt to changing consumer preferences and regulatory requirements.

In Europe, the internal combustion engine market is characterized by stringent environmental regulations and a growing focus on sustainability. Although the transition towards electric and hybrid vehicles is gaining momentum, internal combustion engines remain essential for many applications, particularly in commercial transportation and industrial machinery. The European market is projected to maintain a steady growth trajectory, supported by advancements in engine technology aimed at reducing emissions and enhancing fuel efficiency. The Asia-Pacific region is also witnessing rapid growth, driven by increasing vehicle production and a burgeoning middle class seeking personal mobility solutions. Government initiatives to promote local manufacturing and investment in infrastructure further reinforce the demand for internal combustion engines in this region. The overall regional analysis indicates a balanced growth pattern, ensuring that no individual region exceeds the global market size.

Opportunities

The internal combustion engine market faces a landscape filled with opportunities driven by technological advancements and changing consumer preferences. As manufacturers continue to innovate, developing more efficient and environmentally friendly engine technologies, there are ample opportunities for growth in hybrid and alternative fuel segments. The increasing demand for hybrid vehicles presents a significant opportunity for ICE manufacturers to collaborate with electric component suppliers, creating a new class of vehicles that leverage the benefits of both powertrains. Moreover, emerging trends such as the electrification of commercial vehicles and advancements in biofuels can enhance the market's sustainability narrative, capturing the interest of eco-conscious consumers. Investment in R&D to develop engines that can work seamlessly with renewable energy sources can also open new avenues for growth, making the internal combustion engine market not only relevant but essential in a rapidly changing energy landscape.

Geographical expansion presents another lucrative opportunity for the internal combustion engine market. The growing automotive markets in emerging economies, such as India and Brazil, are witnessing an increase in vehicle ownership, creating a demand for reliable and efficient engines. Moreover, the rise of urbanization and infrastructure development in these regions is further driving the need for internal combustion engines in transportation and power generation applications. Manufacturers can capitalize on these growth opportunities by establishing localized production facilities and collaborating with regional players to better understand local market dynamics. Additionally, with the increasing trend of smart cities and IoT integration, the development of connected vehicles powered by efficient internal combustion engines can significantly enhance the consumer experience and provide lucrative opportunities for manufacturers.

Threats

Despite the promising growth prospects, the internal combustion engine market faces significant threats that could hinder its expansion. One of the primary threats is the accelerating shift towards electric vehicles (EVs), driven by advancements in battery technology and a growing emphasis on sustainability and zero-emission transportation. As governments around the globe implement stricter emissions regulations and as consumers increasingly prefer greener alternatives, the demand for internal combustion engines may decline. This transition towards electric mobility poses a challenge for traditional manufacturers who must adapt to changing market dynamics and consumer preferences. Furthermore, the volatility in fuel prices and the rising costs associated with compliance to regulatory standards can impact profitability and market stability, forcing manufacturers to reevaluate their strategies to remain competitive.

Additionally, the market is also restrained by the increasing costs of raw materials and production, which can affect the overall pricing strategies of engine manufacturers. The competition for resources, particularly in the wake of a global push for sustainability, may drive up prices and subsequently impact profit margins. Furthermore, the reliance on internal combustion engines in traditional markets could hinder innovation and investment in alternative propulsion technologies, potentially leaving manufacturers vulnerable to market shifts. Thus, while there are numerous opportunities in the internal combustion engine market, stakeholders must navigate these threats and take proactive measures to remain viable in the evolving automotive landscape.

Competitor Outlook

• General Motors
• Ford Motor Company
• Volkswagen AG
• Toyota Motor Corporation
• Honda Motor Co., Ltd.
• Fiat Chrysler Automobiles (now Stellantis)
• BMW AG
• Daimler AG
• Hyundai Motor Company
• Renault SA
• Subaru Corporation
• Nissan Motor Co., Ltd.
• Jaguar Land Rover
• Mazda Motor Corporation
• SAIC Motor Corporation Limited

The competitive landscape of the internal combustion engine market is characterized by the presence of several established players, each striving to maintain and enhance their market position amidst evolving consumer preferences and technological advancements. Major automotive manufacturers are increasingly investing in research and development to innovate their engine technologies and meet stricter emissions regulations. For instance, companies like Toyota and Honda have made significant strides in hybrid technologies, positioning themselves as leaders in the transition towards more sustainable engine solutions. Similarly, traditional manufacturers such as Ford and General Motors are also undergoing transformation, focusing on developing cleaner and more efficient internal combustion engines while simultaneously venturing into electric vehicle production. The competition is not limited to established gas and diesel engine manufacturers but is also expanding to include newer players focused on innovative technologies and sustainable solutions.

In terms of market strategy, companies prioritize collaboration with suppliers and technology firms to enhance their product offerings. For example, collaborations between engine manufacturers and research institutions are fostering innovations that improve performance, reduce emissions, and promote the use of alternative fuels. Many manufacturers are exploring partnerships with battery technology firms to develop hybrid and electric powertrains that complement their internal combustion engine offerings. The ability to adapt to changing regulations and consumer expectations regarding sustainability and environmental impact is crucial in maintaining a competitive edge. As the market evolves, manufacturers must also focus on enhancing customer experience through advanced engine technologies that offer not only efficiency but also improved performance and reliability.

In addition to traditional automotive manufacturers, the rise of technology-driven companies entering the automotive space is reshaping the competitive dynamics of the internal combustion engine market. As companies from diverse industries focus on developing smart vehicles and connected technologies, there is an increasing need for traditional engine manufacturers to integrate digital technologies and leverage data analytics to enhance vehicle performance and customer satisfaction. Companies like Tesla, for instance, have revolutionized the automotive industry with their focus on electric vehicles, forcing traditional manufacturers to rethink their strategies and invest significantly in electric and hybrid propulsion systems. While the traditional internal combustion engine market is still critical, the emergence of disruptive innovations and the demand for greener solutions are propelling the industry towards a more diversified landscape.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 BMW AG
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Daimler AG
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Renault SA
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Volkswagen AG
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 General Motors
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Jaguar Land Rover
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Ford Motor Company
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Subaru Corporation
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Honda Motor Co., Ltd.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Hyundai Motor Company
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Nissan Motor Co., Ltd.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Mazda Motor Corporation
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Toyota Motor Corporation
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 SAIC Motor Corporation Limited
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Fiat Chrysler Automobiles (now Stellantis)
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Internal Combustion Engine Market, By Use
    • 6.1.1 Automotive
    • 6.1.2 Aerospace
    • 6.1.3 Marine
    • 6.1.4 Power Generation
  • 6.2 Internal Combustion Engine Market, By Component
    • 6.2.1 Cylinder Head
    • 6.2.2 Piston
    • 6.2.3 Crankshaft
    • 6.2.4 Engine Valves
    • 6.2.5 Others
  • 6.3 Internal Combustion Engine Market, By Fuel Type
    • 6.3.1 Gasoline
    • 6.3.2 Diesel
    • 6.3.3 Natural Gas
    • 6.3.4 Hybrid

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Middle East & Africa - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 Middle East
      • 10.5.1.2 Africa
  • 10.6 Internal Combustion Engine Market by Region

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Internal Combustion Engine market is categorized based on

By Fuel Type

• Gasoline
• Diesel
• Natural Gas
• Hybrid

By Component

• Cylinder Head
• Piston
• Crankshaft
• Engine Valves
• Others

By Use

• Automotive
• Aerospace
• Marine
• Power Generation

By Region

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

Key Players

• General Motors
• Ford Motor Company
• Volkswagen AG
• Toyota Motor Corporation
• Honda Motor Co., Ltd.
• Fiat Chrysler Automobiles (now Stellantis)
• BMW AG
• Daimler AG
• Hyundai Motor Company
• Renault SA
• Subaru Corporation
• Nissan Motor Co., Ltd.
• Jaguar Land Rover
• Mazda Motor Corporation
• SAIC Motor Corporation Limited