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. 2015 has been considered the base year for the report, and the forecast year is 2021. The growing focus on fuel economy to meet stringent emission norms and the availability of adequate infrastructure and skilled human resources for transmission engineering services are driving the market for the outsourcing of automotive transmission engineering services.
Expansion is the strategy most widely adopted by market players to achieve growth in the automotive transmission engineering services outsourcing market. AVL (Austria), FEV GmbH (Germany), IAV GmbH (Germany), and Magna International Inc. (Canada) are major companies that have adopted this strategy. New product development is the second most commonly adopted strategy; companies employ this strategy to cater to the changing transmission needs of automotive OEMs. AVL (Austria), Ricardo Plc (U.K.), FEV GmbH (Germany), and IAV GmbH (Germany) are some of the companies that have adopted this strategy to gain traction in the automotive transmission engineering services outsourcing market.
AVL is one of the leading players in the global automotive transmission engineering services outsourcing market. The company provides all transmission development services that is, designing, prototyping, testing, system engineering and integration, and simulation. It has an extensive portfolio that covers engineering services for all types of transmission, including manual and automatic. With regard to automatic transmission, the company provides engineering services for automated manual transmission (AMT), dual clutch transmission (DCT), and continuously variable transmission (CVT). AVL is trying to expand its presence in high-growth regions by opening new engineering and research centers in countries such as Germany and China. The company’s focus on bringing technologically advanced products such as future hybrid 8 mode transmission to the market has helped it retain its leading position in the automotive transmission engineering services outsourcing market. It has adopted expansion as a key strategy, and is opening new engineering and research centers in various high-growth countries.
Another important player in the industry is Magna International Inc. The company provides services for transmission engineering across the globe under the brand Magna Powertrain. Magna is a global automotive supplier, with 309 manufacturing facilities and 99 product development, engineering, and sales centers in 29 countries. The company has adopted mergers & acquisitions and expansion as its primary strategies to strengthen its position in the automotive transmission engineering services market. Magna, which was previously providing only transmission engineering services, has recently acquired one of the largest manufacturers of transmission systems for passenger cars, Getrag (Germany). The company also began operations at its new technical center for transmission near Shanghai in China in 2016. It is therefore expected to register substantial growth in the transmission engineering services outsourcing market in the near future.
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
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