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 estimated to be USD 9.81 Billion in 2016, and is projected to grow at a CAGR of 5.66% during the forecast period. The base year for the study is 2015, and the forecast period is 2016 to 2021.
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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.
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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.
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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.
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The Automotive Transmission Engineering Services Outsourcing Market has developed swiftly in recent years and has made a significant contribution to the global financial situation in terms of growth rate, market share, and sales generation.
The report titled Automotive Transmission Engineering Services Outsourcing Market Report is an analytical study that presents a comprehensive explanation of the industry along with information on significant aspects of the market.
This covers market demands, major market players, profitable trading tactics, and a futuristic outlook.The research report has incorporated the analysis of different factors that augment the market’s growth.
It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner.
This section also provides the scope of different segments and applications that can potentially influence the market in the future.Global automotive transmission engineering services outsourcing market is expected to reach USD 17.86 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026.
Rising demand for hybrid vehicles is the major factor for the growth of this market.Get Sample PDF (including COVID19 Impact Analysis) of Market Report @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-automotive-transmission-engineering-services-outsourcing-marketMarket Drivers and Restraints:Rising awareness related to environment due to increasing pollution is driving the growth of this marketIncreasing prevalence for hybrid vehicles is driving the market growthGrowing R capabilities to develop environment friendly will also drive the marketRising government support for eco- friendly vehicles is also accelerating the marketHigh price of these vehicles is restraining the growth of this marketHigh expenses related to the research and development is another factor restraining the market growthUnavailability of hybrid vehicles in many countries will also limit the market growthKey Players: Global Automotive Transmission Engineering Services Outsourcing MarketAVL, Ricardo, Magna International Inc, IAV, HORIBA, Ltd, Intertek Group plc, Magneti Marelli S.p.A., Dr. Ing.
Automotive Transmission Engineering Services Outsourcing Market Automotive transmission is a process used by the production of automobile.
They make sure that the wheel by allowing the power to flow from the engine to the wheels.
They are majorly of two types – manual transmission and automatic transmission.
These outsourcing are widely used in the services like simulation, testing, prototyping, designing etc.
Increasing environmental concern among consumer is major factor fuelling the market growth.Market Drivers:Rising awareness related to environment due to increasing pollution is driving the growth of this marketIncreasing prevalence for hybrid vehicles is driving the market growthGrowing R capabilities to develop environment friendly will also drive the marketRising government support for eco- friendly vehicles is also accelerating the marketMarket Restraints:High price of these vehicles is restraining the growth of this marketHigh expenses related to the research and development is another factor restraining the market growthUnavailability of hybrid vehicles in many countries will also limit the market growthGet Exclusive Sample Report: @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-automotive-transmission-engineering-services-outsourcing-marketSome of the leading key players profiled in this study:is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
The report includes market shares of automotive transmission engineering services outsourcing market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.Key Market Competitors:Few of the major competitors currently working in the automotive transmission engineering services outsourcing market are AVL, Ricardo, Magna International Inc, IAV, HORIBA, Ltd, Intertek Group plc, Magneti Marelli S.p.A., Dr. Ing.
