Market Size in 2023 | Market Forecast in 2032 | Growth Rate (in %) | Base Year |
---|---|---|---|
USD 14.89 Billion | USD 23.01 Billion | CAGR at 4.95% | 2023 |
According to the report published by Zion Market Research, the global Automotive Transmission Engineering Services Outsourcing Market size was valued at USD 14.89 Billion in 2023 and is predicted to reach USD 23.01 Billion by the end of 2032. The market is expected to grow with a CAGR of 4.95% during the forecast period. The report analyzes the global Automotive Transmission Engineering Services Outsourcing Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Automotive Transmission Engineering Services Outsourcing Market industry.
There are two types of automotive transmission which are manual and automatic. The automotive transmission engineering is considered as an important process in the manufacturing process of automobiles. The movement of the vehicle is ensured by the transmission which allows the power flow from the engine to the wheels. There are huge developments made in the automatic transmission engineering which includes dual clutch transmission (DCT), automated manual transmission (AMT) and continuously variable transmission (CVT).
The global automotive transmission engineering services outsourcing market is segmented into its transmission type, service type, power train and regions.
On the basis of service type, the global market is segregated into designing, testing, simulation, prototyping, and system engineering and integration.
Based on the transmission type, the market is categorized as the manual transmission and automatic transmission.
On the basis of the power train, the automotive transmission engineering services outsourcing market is classified into hybrid powertrain and conventional powertrain.
The rise in the production of vehicles and the increase in the demand for the hybrid vehicles are some of the reasons that have contributed to the market growth. The rise in concerns for the environment regarding the increasing pollution owing to the emission of harmful gasses from the gasoline and diesel vehicles is a factor that contributes to the market growth. Owing to the rise in the environmental pollution the governments of various regions are compelling the automakers to develop eco-friendly automobiles. Hence, the demand for the hybrid vehicles is increasing which in turn is influencing the growth of the automotive transmission engineering services outsourcing market.
The factor that is restraining the market growth is the high cost involved in the manufacturing of the hybrid transmission system. The research and the development expenditures that are involved in developing the hybrid system technology are expensive as compared to the manufacturing of the conventional vehicles. Thus, these vehicles are costly and are less affordable to the consumers which in turn affect the market growth.
Report Attributes | Report Details |
---|---|
Report Name | Automotive Transmission Engineering Services Outsourcing Market Research Report |
Market Size in 2023 | USD 14.89 Billion |
Market Forecast in 2032 | USD 23.01 Billion |
Growth Rate | CAGR of 4.95% |
Number of Pages | 196 |
Key Companies Covered | AVL, IAV GmbH, Intertek Group Plc., Tata Consultancy Services Limited, Magneti Marelli S.p.A, Horiba, Ltd., FEV GmbH, Ricardo Plc, Porsche Engineering and Magna International Inc. |
Segments Covered | By Transmission Type, By Service Type, By Power train and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The region that dominates the automotive transmission engineering services outsourcing market is Asia Pacific. The factors that contribute to this growth include the presence of the growing economies such as India and China, the growing demand from the population for more advanced passenger cars is compelling the OEMs to invest in the research and development of transmission engineering. The increasing demand for the hybrid vehicles and the low labor cost are other factors that are contributing to the market growth in this region. Automatic transmission is also widely used in the North American region owing to the provision of better fuel efficiency. Manual transmissions are preferred in countries of Europe.
The key market players in the automatic transmission engineering services market include:
By Services Type
By Transmission Type
By Power train
Global Automotive Transmission Engineering Services Outsourcing Market: Regional Segment Analysis
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