Press release
Automotive Transmission Engineering Services Outsourcing Global Market Report 2024 - By Share, Size, Industry Trends, Outlook By 2033
Automotive Transmission Engineering Services Outsourcing Market
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.
Market Overview -
The automotive transmission engineering services outsourcing refer to services that provide outsourced development assistance for cutting-edge powertrain systems. Automotive transmission engineering is an important process in the manufacturing of automobiles, and it is done to make sure that the power flow from the engine to the wheels for ensuring the movement of the vehicle.
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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
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.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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