Automotive Parts Market to be Worth $824.2 Billion by 2031

In increasingly congested urban environments, the demand for smaller vehicles rises. Compact engines excel in providing fuel efficiency, especially in stop-and-go traffic typical of urban areas. Moreover, their simpler design and smaller size contribute to reduced manufacturing costs, potentially leading to lower vehicle purchase prices for consumers. These factors drive the proliferation of compact engines and bolster the growth of the automotive parts market.