Press release
Automotive Transmission Engineering Services Outsourcing Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033
Automotive Transmission Engineering Services
The Business Research Company offers in-depth market insights through Automotive Transmission Engineering Services Outsourcing Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The automotive transmission engineering services outsourcing market size has grown steadily in recent years. It will grow from $12.19 billion in 2023 to $12.7 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to globalization of automotive industry, demand for cost-effective engineering solutions, complexity of modern transmission systems, focus on core competencies by automotive companies, increasing demand for fuel-efficient vehicles.
The automotive transmission engineering services outsourcing market size is expected to see steady growth in the next few years. It will grow to $15.41 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to growing demand for hybrid and electric vehicles, increasing demand for advanced driver assistance systems (adas), growing demand for connected cars and autonomous vehicles, increasing focus on reducing carbon emissions, growing demand for advanced materials in automotive manufacturing. Major trends in the forecast period include advancements in transmission technology, outsourcing of transmission software development, collaboration between automotive manufacturers and engineering service providers, adoption of digital twin technology in transmission engineering services, shift towards virtual testing and simulation in transmission design.
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Market Segmentation:
The automotive transmission engineering services outsourcing market covered in this report is segmented -
1) By Service Type: Designing, Prototyping, Testing, System Engineering and Integration, Simulation
2) By Powertrain: Conventional, Hybrid
3) By Transmission Type: Automatic, Manual
4) By Application: Commercial Automotive, Indstrial Automotive, Passenger Automotive
Major Driver - Rising Hybrid Car Demand Boost Automotive Transmission Engineering Services Outsourcing Market
The increasing production of hybrid vehicles will propel the growth of the automotive transmission engineering services outsourcing market during the forecast period. A hybrid automobile has two or more engines, one of which is an electric motor and the other is a traditional engine either petrol or diesel. The benefit of a hybrid car over a gasoline-powered car is leading an increase in automotive vehicles, resulting in the growth of the automotive transmission engineering services outsourcing across the globe. For instance, in 2021, hybrid vehicles accounted for 19.6% of all new passenger cars sold in The EU region. This is increased from the 11.9 % market share that was held in 2020. The environmentally friendly nature of hybrid vehicles has increased the demand for hybrid vehicles and it is driving the automotive transmission engineering services outsourcing market.
Competitive Landscape:
Major companies operating in the automotive transmission engineering services outsourcing market report are AVL List GmbH, FEV Group GmbH, IAV GmbH, Ricardo plc, Intertek Group plc, Bertrandt AG, EDAG Engineering GmbH, Tata Consultancy Services Limited, Marelli Europe SpA, Horiba Ltd., Porsche Engineering Group GmbH, Alten SA, P3 Automotive GmbH, Altair Engineering Inc., RLE International Group, ASAP Holding GmbH, Kistler Holding AG, M Plan GmbH, P+Z Engineering GmbH, Magna International Inc., Robert Bosch GmbH, Akka Technologies India Private Limited, ESG Group Pty Ltd., ITK Engineering GmbH, ZF Friedrichshafen AG, Jatco Ltd., Aisin Seiki Co. Ltd., Infosys Limited, Wipro Limited, HCL Technologies Limited, Tech Mahindra Limited, Capgemini SE
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Top Trend - Technological Advancements Revolutionize Automotive Transmission Engineering Services Outsourcing Market
The technological advancements in automotive transmission are a key trend followed in the automotive transmission engineering services outsourcing market. Adaptation of new technological advancements by companies is resulting in a major growth opportunity in the automotive transmission engineering services outsourcing market. For instance, in June 2021, IAV and the Massachusetts Institute of Technology (MIT) initiated a cooperative research project for alternative propulsion systems in June 2021, analysing and assessing various drive types in heavy-duty vehicles based on hydrogen, electrification, hybridization, and methane combustion.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Transmission Engineering Services Outsourcing Market Characteristics
3. Automotive Transmission Engineering Services Outsourcing Market Trends And Strategies
4. Automotive Transmission Engineering Services Outsourcing Market - Macro Economic Scenario
5. Automotive Transmission Engineering Services Outsourcing Market Size And Growth
…..
27. Automotive Transmission Engineering Services Outsourcing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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