- In May 2024, Toyota Motor North America (TMNA) has officially named its California R&D office as the North American Hydrogen Headquarters (H2HQ) to advance its hydrogen fuel cell initiatives. The renovated facility will support research, development, and commercialization of hydrogen-related products, with future plans for a flexible microgrid and a customer education center. President and CEO Ted Ogawa emphasized Toyota's commitment to zero-emission technology.
- In May 2021, Ford Motor Company announced a comprehensive plan to invest $22 billion in electrification by 2025, focusing on electrifying iconic models such as the Mustang, F-150, and Transit. The company aims to enhance performance and capability while delivering zero-emission versions of its popular vehicles. Ford is also expanding its electric vehicle infrastructure, boasting North America’s largest public charging network and a dedicated global battery center in Michigan. This strategy aligns with Ford’s commitment to achieving carbon neutrality by 2050 and supporting the transition to electric vehicle ownership.
Frequently Asked Questions
The market is segmented based on Segmentation, By Engine Type (Internal Combustion Engines (ICE), Electric Engines, and Alternative Fuel Engines), Vehicle Type (Passenger Cars, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), Two-wheelers, and Buses and Coaches), Displacement Capacity (Below 1.0L, 1.0L to 2.0L, 2.0L to 3.0L, and Above 3.0L), Fuel Type (Gasoline, Diesel, Electric, Hybrid, and Alternative Fuels) - Industry Trends and Forecast to 2031
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The Global Automotive Engine Market size was valued at USD 93.80 USD Billion in 2024.
The Global Automotive Engine Market is projected to grow at a CAGR of 2.3% during the forecast period of 2025 to 2032.
The market report covers data from the U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, Rest of South America.
