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2025 Automotive Transmission Engineering Services Outsourcing Market Outlook: Key Indicators Shaping Growth Through 2034
Automotive Transmission Engineering Services Outsourcing
What Will the Automotive Transmission Engineering Services Outsourcing Industry Market Size Be by 2025?
There has been a consistent increase in the market size of outsourcing services for automotive transmission engineering in the past few years. Its progression is projected from $12.64 billion in 2024 to $13.17 billion in 2025, with a compound annual growth rate (CAGR) of 4.2%. Factors contributing to this growth during the historic period include the international expansion of the automotive industry, the need for economical engineering solutions, the intricate nature of contemporary transmission systems, the emphasis of automotive firms on core skills, and the rising demand for vehicles with high fuel efficiency.
What's the Long-Term Growth Forecast for the Automotive Transmission Engineering Services Outsourcing Market Size Through 2029?
Strong expansion is anticipated in the automotive transmission engineering services outsourcing market in the coming years. By 2029, the sector is projected to reach $16.41 billion, experiencing a compound annual growth rate (CAGR) of 5.7%. The positive forecast for this period can be credited to an increasing demand for hybrid and electric vehicles, growth in the need for advanced driver assistance systems (ADAS), and the prevalence of connected and autonomous vehicles. The industry will also benefit from a greater focus on lowering carbon emissions, as well as escalating demands for advanced materials used in automobile manufacturing. Future trends to look out for include technological advancements in transmission, transmission software development outsourcing, increased collaboration between auto manufacturers and engineering service providers, the application of digital twin technology in transmission engineering services, and a shift towards virtual testing and simulation in transmission design.
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What Are the Key Growth Drivers Fueling the Automotive Transmission Engineering Services Outsourcing Market Expansion?
The rise in manufacturing of hybrid vehicles is predicted to accelerate the expansion of the automotive transmission engineering services outsourcing market in the forecast period. A hybrid vehicle is equipped with two or more engines - an electric motor and a conventional engine that could be either petrol or diesel. The advantages of a hybrid car over a gasoline-powered car are contributing to an increase in automotive vehicles, resulting in the expansion of the automotive transmission engineering services outsourcing worldwide. For instance, a report released by the US Department of Energy, a US-based agency overseeing nuclear infrastructure and energy policies, stated that in January 2023, the monthly sales of new plug-in electric cars (PEV), composed of all-electric vehicles (EV) and plug-in hybrid electric vehicles (PHEV), hit 7.4%, surpassing 7% for the first time in September 2022. Of those, 1.2% were PHEVs. The eco-friendly attribute of hybrid vehicles has spiked the demand for such vehicles, serving as a driving force for the automotive transmission engineering services outsourcing market.
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What Are the Key Trends Driving Automotive Transmission Engineering Services Outsourcing Market Growth?
Leading companies in the automotive transmission engineering services outsourcing market are employing strategic partnerships as a key approach to deliver propulsion solutions. Such partnerships involve companies leveraging each other's capabilities and resources for mutual benefit and success. For instance, in July 2024, Allison Transmission, a leading US company specializing in the design, development, manufacturing, and distribution of transmissions and hybrid propulsion systems, entered into a partnership with BAE Systems Hägglunds, a Sweden-based company known for developing, providing, and upgrading vehicle systems. This recent joint venture serves as proof of the ongoing strong relationship between BAE Systems Hägglunds and Allison. It also offers Allison a chance to expand further in its Defense end market, with several programs expected to contribute an additional $100 million to its annual revenue.
How Is the Automotive Transmission Engineering Services Outsourcing Market Segmented?
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, Industrial Automotive, Passenger Automotive
Subsegments:
1) By Designing: Transmission System Design, Gear Design, Component Design, CAD Modeling And Simulation
2) By Prototyping: Prototype Development, Rapid Prototyping, Functional Prototyping, Prototype Testing
3) By Testing: Performance Testing, Durability Testing, Noise, Vibration, And Harshness (NVH) Testing, Reliability Testing
4) By System Engineering And Integration: Requirements Analysis, System Architecture Development, Integration Of Transmission Systems, Software And Hardware Integration
5) By Simulation: Multi-Body Dynamics Simulation, Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD), Virtual Prototyping And Testing
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Which Companies Are Leading the Charge in Automotive Transmission Engineering Services Outsourcing Market Innovation?
Major companies operating in the automotive transmission engineering services outsourcing market include 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
Which Regions Are Leading the Global Automotive Transmission Engineering Services Outsourcing Market in Revenue?
Asia-Pacific was the largest region in the automotive transmission engineering services outsourcing market share in 2024. The regions covered in the automotive transmission engineering services outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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