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Global Automotive Transmission Engineering Services Outsourcing Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report - Segmented By Service Type (Designing, Prototyping, Testing, and System Engineering & Integration), Transmission Type (Automatic and Manual), Powertrain (Conventional and Hybrid), and Region (North America, Europe, Latin America, Asia-Pacific, Middle East and Africa) - Industry Analysis from 2023 to 2028

Published: March, 2023
ID: 8678
Pages: 150
Formats: report pdf report excel report power bi report ppt

Global Automotive Transmission Engineering Services Outsourcing Market (2023 to 2028)

The global automotive transmission engineering services outsourcing market was worth USD 10.96 billion in 2023 and is anticipated to reach a valuation of USD 14.46 billion by 2028. It is predicted to register a CAGR of 5.70% during the forecast period.

Two main types of automotive transmissions are manual and automatic. Vehicle transmission technology is the most important process in the manufacture of a car. The transmission in vehicles allows the flow of power from the engine to the wheels, which guarantees the movement of the vehicle. Car sales lead to strict emission standards, and the introduction of new technologies, such as hybrid transmissions, is driving the market to outsource vehicle transmission technology. It is estimated that the Asia-Pacific region represents the largest part of the global market for outsourcing vehicle transmission services. However, at the national level, Germany is the largest market for such services due to its advanced technological infrastructure and the presence of luxury vehicle manufacturers such as Mercedes-Benz, BMW, Volkswagen, and Audi.

MARKET DRIVERS:

Growing environmental problems are causing governments in several countries to motivate car manufacturers to develop environmentally friendly vehicles. The governments of several countries are motivating automotive companies with tax exemptions and subsidies to ensure that all vehicles manufactured to meet the strict standards of CO2 emissions. This is driving demand for hybrid vehicles, which in turn drives the growth of the global automotive transmission services market. In addition, the increase in fuel prices is also an important reason for the growth of hybrid vehicles. As a result, automakers are focusing heavily on their R & D capabilities to develop fuel-efficient and environmentally friendly vehicles that drive the growth of the automotive transmission market.

The growing production of vehicles and the growing demand for hybrid vehicles are the main factors driving the growth of the outsourced vehicle transmission market. The concern for the safety of the environment has increased due to the enormous pollution caused by the emission of gasoline and diesel vehicles.

MARKET RESTRAINTS:

One of the main obstacles that inhibit the growth of this market is the high cost associated with hybrid transmission systems. Hybrid vehicle technology is undoubtedly sophisticated and advanced, but the costs of research and development, as well as manufacturing costs for companies, are extremely high compared to the production of conventional vehicles. However, one should also bear in mind that light hybrids and other hybrids (excluding pure hybrid vehicles) with a single engine and less sophisticated clutch system are relatively cheap compared to pure hybrid vehicles. The high costs of manufacturing and development are transferred to the end-users, which makes the vehicles expensive and less accessible for most consumers. In addition to lower affordability, there is also the availability of hybrid vehicles in many parts of the world. Due to the lack of demand for hybrid vehicles, automakers are skeptical about the establishment of new hybrid vehicle production units in new areas. The demand for hybrid vehicles is very low in many countries in the Asia-Pacific region and in Africa.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

CAGR

5.70%

Segments Covered

By Service Type, Transmission Type, Powertrain, and Region.

 

Various Analyses Covered

Global, Regional, and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

 

Market Leaders Profiled

AVL (Austria), FEV GmbH (Germany), IAV GmbH (Germany), Ricardo Plc (U.K.), Intertek Group Plc (U.K.), Porsche Engineering (Germany), Tata Consultancy Services Limited (India), Magna International Inc. (Canada), Magneti Marelli S.p.A (Italy) Horiba, Ltd. (Japan), and Others.

 

This research report on the global automotive transmission engineering services outsourcing market is segmented and sub-segmented into the following categories.

Global Automotive Transmission Engineering Services Outsourcing Market - By Service Type:

  • Designing
  • Prototyping
  • Testing
  • System Engineering and Integration
  • Simulation

Global Automotive Transmission Engineering Services Outsourcing Market - By Transmission Type:

  • Automatic Transmission
  • Manual Transmission

Global Automotive Transmission Engineering Services Outsourcing Market - By Powertrain:

  • Conventional Powertrain
  • Hybrid Powertrain

Global Automotive Transmission Engineering Services Outsourcing Market - By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

In the automotive transmission engineering services outsourcing market, Asia Pacific holds the largest market share in terms of revenue followed by North America, Europe, Latin America, the Middle East, and Africa (MEA). In the Asia Pacific region, countries such as China and India have been witnessing heavy demand and production for passenger vehicles. This, in turn, is motivating the growth of the automotive transmission engineering services outsourcing market in the region. The market in North America and Europe tends to be a bit saturated, but the market is expected to remain stable during the forecast period. By the end of the forecast period, the Middle East Africa, and Latin America are expected to show significant growth, considering the growth in the automotive sector and rising demand for passenger and commercial vehicles in the regions.

KEY MARKET PLAYERS:

The key players in the automotive transmission engineering services outsourcing market include AVL (Austria), FEV GmbH (Germany), IAV GmbH (Germany), Ricardo Plc (U.K.), Intertek Group Plc (U.K.), Porsche Engineering (Germany), Tata Consultancy Services Limited (India), Magna International Inc. (Canada), Magneti Marelli S.p.A (Italy), Horiba, Ltd. (Japan).

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FAQ's

1. What is the current market size of Automotive Transmission Engineering Services Outsourcing?

As of the latest market size of Automotive Transmission Engineering Services Outsourcing in North America is estimated to be USD 10.96 billion in 2023.

2. what segments are covered in the global Automotive Transmission Engineering Services Outsourcing?

It is segmented by Service Type, Transmission Type, and Power Train Type are covered in this market.

3. which is the dominating segment in the Automotive Transmission Engineering Services Outsourcing?

The hybrid Powertrain segment dominates the Transmission Engineering Services Outsourcing. 

4. what is the expected growth value of CAGR in the up coming years?

The Automotive Transmission Engineering Services Outsourcing is expected to grow to a CAGR of 5.68% during the forecast period.

5. what are the key market players involved in the Automotive Transmission Engineering Services Outsourcing market?

AVL (Austria), FEV GmbH (Germany), IAV GmbH (Germany), Ricardo Plc (U.K.), Intertek Group Plc (U.K.), Porsche Engineering (Germany), Tata Consultancy Services Limited (India), Magna International Inc. (Canada), Magneti Marelli S.p.A (Italy), Horiba, Ltd. (Japan).

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