How Will The Automotive Transmission Engineering Services Outsourcing Market Perform in Forecast Period?
The automotive transmission engineering services outsourcing market size has grown steadily in recent years. From $12.64 billion in 2024, it is predicted to escalate to $13.17 billion in 2025 at a compound annual growth rate (CAGR) of 4.2%. The growth drivers for this period include globalization of automotive industry, demand for cost-effective engineering solutions, complexity of modern transmission systems, and increasing demand for fuel-efficient vehicles.
In the forecast period, the market strength is further projected. It is expected to garner a market size of $16.41 billion by 2029 at a CAGR of 5.7%. Accelerators for this growth can be identified as growing demand for hybrid and electric vehicles, increasing demand for advanced driver assistance systems (ADAS), along with a focus on reducing carbon emissions.
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What Are The Key Drivers To The Automotive Transmission Engineering Services Outsourcing Market?
The increase in production of hybrid vehicles has a significant role in propelling the growth of the automotive transmission engineering services outsourcing market. Hybrid cars, with their reduced environmental impact compared to gasoline-run cars, are becoming an increasing preference.
Which Segments Are Covered In The Automotive Transmission Engineering Services Outsourcing Market?
-Service Type: Designing, Prototyping, Testing, System Engineering And Integration, Simulation
-Powertrain: Conventional, Hybrid
-Transmission Type: Automatic, Manual
-Application: Commercial Automotive, Industrial Automotive, Passenger Automotive
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Which Companies Are Major Players in the Automotive Transmission Engineering Services Outsourcing Market?
Central companies in the 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, and P3 Automotive GmbH among others.
Which Market Trends are Affecting the Automotive Transmission Engineering Services Outsourcing Market?
Major companies are opting for strategic partnerships to provide superior propulsion solutions. For instance, Allison Transmission partnered with BAE Systems Hägglunds in 2024. The collaboration was aimed towards attaining further growth and success in their respective domains.
In The Automotive Transmission Engineering Services Outsourcing Market, Which Region occupies the Largest Share?
In 2024, Asia-Pacific had the largest share in the automotive transmission engineering services outsourcing market. The other regions covered in this report are Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What is The Automotive Transmission Engineering Services Outsourcing Market?
Automotive transmission engineering services outsourcing refers to services that provide outsourced development assistance for state-of-the-art powertrain systems. The manufacturing of automobiles relies heavily on automotive transmission engineering to ensure the seamless power flow from the engine to the wheels. The Automotive Transmission Engineering Services Outsourcing Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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