Automotive Transmission Engineering Services Outsourcing Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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How has the automotive transmission engineering services outsourcing market grown in recent years?
The consistent growth of the automotive transmission engineering services outsourcing market can be observed in recent years. The market value is predicted to rise from $12.64 billion in 2024 to $13.17 billion in 2025, marking a compound annual growth rate (CAGR) of 4.2%. This growth during the historical period is the result of several contributing factors including globalization of the automobile industry, a need for cost-efficient engineering solutions, the complexity involved in modern transmission systems, the focus of automobile companies on their core competencies, and a surge in demand for fuel-efficient vehicles.
How is the automotive transmission engineering services outsourcing market size expected to evolve during the forecast period?
Expectations are high for the automotive transmission engineering services outsourcing market, as it is predicted to see robust expansion in the upcoming years. By 2029, it is projected to reach $16.41 billion, boasting a compound annual growth rate (CAGR) of 5.7%. This growth trajectory can be associated with various factors, such as the increasing popularity of hybrid and electric vehicles, the rising demand for advanced driver-assistance systems (ADAS), the burgeoning need for connected and self-driving cars, a heightened emphasis on reducing carbon emissions, and an increasing demand for advanced materials in automotive production. Other pertinent trends that will shape the market in the forecast period include advancements in transmission technology, the outsourcing of transmission software development, enhanced collaboration between car manufacturers and engineering service providers, the adoption of digital twin technology in transmission engineering services, and a shift towards virtual testing and simulation in transmission design.
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Which key drivers are propelling the automotive transmission engineering services outsourcing market’s growth?
Expectations are high for the automotive transmission engineering services outsourcing market, as it is predicted to see robust expansion in the upcoming years. By 2029, it is projected to reach $16.41 billion, boasting a compound annual growth rate (CAGR) of 5.7%. This growth trajectory can be associated with various factors, such as the increasing popularity of hybrid and electric vehicles, the rising demand for advanced driver-assistance systems (ADAS), the burgeoning need for connected and self-driving cars, a heightened emphasis on reducing carbon emissions, and an increasing demand for advanced materials in automotive production. Other pertinent trends that will shape the market in the forecast period include advancements in transmission technology, the outsourcing of transmission software development, enhanced collaboration between car manufacturers and engineering service providers, the adoption of digital twin technology in transmission engineering services, and a shift towards virtual testing and simulation in transmission design.
What are the market segments in the automotive transmission engineering services outsourcing industry?
The automotive transmission engineering services outsourcing market covered in this report is segmented – _x000D_
_x000D_
1) By Service Type: Designing, Prototyping, Testing, System Engineering And Integration, Simulation_x000D_
2) By Powertrain: Conventional, Hybrid_x000D_
3) By Transmission Type: Automatic, Manual_x000D_
4) By Application: Commercial Automotive, Industrial Automotive, Passenger Automotive_x000D_
_x000D_
Subsegments:_x000D_
1) By Designing: Transmission System Design, Gear Design, Component Design, CAD Modeling And Simulation_x000D_
2) By Prototyping: Prototype Development, Rapid Prototyping, Functional Prototyping, Prototype Testing_x000D_
3) By Testing: Performance Testing, Durability Testing, Noise, Vibration, And Harshness (NVH) Testing, Reliability Testing_x000D_
4) By System Engineering And Integration: Requirements Analysis, System Architecture Development, Integration Of Transmission Systems, Software And Hardware Integration_x000D_
5) By Simulation: Multi-Body Dynamics Simulation, Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD), Virtual Prototyping And Testing
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Which leading companies are shaping the growth of the automotive transmission engineering services outsourcing market?
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
What key trends are currently impacting the automotive transmission engineering services outsourcing market’s development?
Significant entities in the automotive transmission engineering services outsourcing market are gravitating towards a strategic partnership strategy to deliver propulsion solutions. Strategic partnerships involve companies tapping into each other’s capabilities and resources to gain shared advantages and success. For example, in July 2024, Allison Transmission, an American firm specializing in the design, development, manufacturing, and distribution of transmissions and hybrid propulsion systems, formed a partnership with BAE Systems Hägglunds, a Sweden-based vehicle systems service provider. This latest collaboration underscores the ongoing connection between BAE Systems Hägglunds and Allison. The partnership offer Allison the potential for further expansion in its Defense end market, with several programs expected to bring in an extra $100 million in yearly revenue.
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Which geographic areas are influencing the growth of the automotive transmission engineering services outsourcing market?
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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