The report "Automotive Transmission Engineering Services Outsourcing Market by Service Type (Designing, Prototyping, Testing, and System Engineering & Integration), Transmission Type (Automatic and Manual), Powertrain (Conventional and Hybrid), and by Region - Global Forecast to 2021", The global automotive transmission engineering services outsourcing market is projected to grow at a CAGR of 5.66% during the forecast period, to reach USD 12.92 Billion by 2021, from an estimated USD 9.81 Billion in 2016.
Browse 70 market data Tables and 58 Figures spread through 154 Pages and in-depth TOC on "Automotive Transmission Engineering Services Outsourcing Market by Service Type (Designing, Prototyping, Testing, and System Engineering & Integration), Transmission Type (Automatic and Manual), Powertrain (Conventional and Hybrid), and Region - Global Forecast to 2021"
Early buyers will receive 10% customization on reports.
The growth of the global automotive transmission engineering services outsourcing market can be attributed to factors such as the growing demand for fuel-efficient vehicles and the increasingly stringent emission norms imposed in different countries.
Designing to be the largest market, by service type
The designing services segment is estimated to constitute the largest market, owing to the increasing demand for fuel-efficient vehicles and rising demand for better transmission among consumers. Designing is the longest and most crucial phase in transmission development, and automotive OEMs are continuously developing new kinds of automotive transmission to adapt to changing consumer behavior. Given the new government regulations related to emission norms and subsidies and tax rebates on hybrid cars, OEMs are also attempting to design advanced transmission that can meet these norms and adapt to the changing buying patterns of customers.
Automatic transmission engineering services: Expected to witness high growth in developing countries
Automatic transmission is widely used in North American countries; however, given its better fuel efficiency and lower cost, manual transmission is preferred in Asia-Pacific and European countries. Nevertheless, the development of advanced automatic transmission such as automated manual transmission (AMT), dual clutch transmission (DCT), and continuously variable transmission (CVT), which is fuel efficient as well as economical, has led to automatic transmission gaining popularity among customers in developing countries. Automatic transmission systems are projected to witness higher growth than manual transmission systems in Asia-Pacific and Europe, while North America will remain a favorable market for these transmission systems. The high rate of technological adoption in these regions is also projected to drive the growth of automatic transmission systems.
Asia-Pacific to be the largest market
Asia-Pacific is projected to be the largest market for the outsourcing of transmission engineering services by 2021, due to the presence of growing economies such as China and India. The sizeable populations in these counties has led to a rising demand for more advanced passenger cars in terms of smooth gear shifting; this would compel automotive OEMs to conduct more research on transmission. The availability of low-cost labor, coupled with the increasing demand for hybrid vehicles, is set to drive the market for the outsourcing of transmission engineering services in this region.
Major market players, such as AVL (Austria), Ricardo Plc (U.K.), FEV GmbH (Germany), and IAV GmbH (Germany), have established R&D centers in this region to cater to the growing demand for transmission engineering services.
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Email: [email protected]