Automotive Powertrain Testing Services Market, 60% of Growth to Originate from APAC, Technavio
NEW YORK, April 17, 2024 /PRNewswire/ -- The global automotive powertrain testing services market size is estimated to grow by USD 2434.53 mn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of almost 7.86% during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 60%.
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APAC is expected to play a pivotal role in propelling the global automotive powertrain testing services market
Geographic Landscape:
The Automotive Powertrain Testing Services Market in APAC is experiencing significant growth due to the promising economic potential in emerging countries like China, India, Japan, and South Korea. Sustainability is a key focus in the automotive industry, leading to the development of downsized engines, automatic transmissions, and turbocharging for improved fuel efficiency and reduced emissions. Regulations on frictional loss, gear ratio, and vehicle emissions are driving the need for advanced engine and transmission testing. OEMs are expanding their manufacturing units to cater to regional demand and beyond, incorporating ICE powertrains, hybrid powertrains, and electric powertrains in vehicles. The global supply chain for automotive components, including drive shafts, differentials, and driving wheels, is also undergoing transformation. Electric powertrains in commercial trucks are gaining popularity, reducing reliance on fossil fuels and decreasing carbon footprints. Overall, the market for automotive powertrain testing services is expected to grow substantially, with a focus on innovation, efficiency, and regulatory compliance.
Research Analysis
The Automotive Powertrain Testing Services Market encompasses the testing of various components in Passenger Cars and Commercial Vehicles, including Engines, Transmissions, Clutches, Torque converters, Drive shafts, Propeller shafts, Differentials, Electric Powertrains, and Driving Wheels. OEMs (Original Equipment Manufacturers) in the ICE (Internal Combustion Engine) powertrain sector, as well as those specializing in Hybrid and Electric powertrains, rely on these services to ensure the optimal performance and efficiency of their Fossil fuel-based Gasoline and Diesel powertrains. Manufacturing units undergo rigorous Engine Testing, Transmission Testing, Drive Shafts Testing, and Axles testing to minimize Carbon footprints and adhere to stringent industry standards. Downsized engines are a growing trend in the market, necessitating advanced testing technologies to maintain power and torque output.
Market Drivers
The Automotive Powertrain Testing Services Market is experiencing significant growth due to the competitive pricing pressures in the automotive industry and the need for emission-compliant vehicles. OEMs are experimenting with downsized engines, automatic transmissions, turbocharging, and supercharging to enhance power output and improve fuel efficiency. Sustainability is a key focus, with reductions in frictional loss, gear ratio adjustments, and the adoption of electric powertrains. Regulations enforcing upgrades to better emission-compliant vehicles or newer models are also driving market demand. This includes testing for engines, transmissions, clutch, torque converter, drive shafts, propeller shafts, axles, and electric powertrains in passenger cars and commercial vehicles. The global supply chain is impacted by the manufacturing of ICE powertrains, hybrid powertrains, and electric powertrains, with economic trade playing a role in the availability of fossil fuels and the carbon footprints of gasoline powertrains and diesel powertrains.
Market Overview
The Automotive Powertrain Testing Services market encompasses various technologies and processes aimed at ensuring the efficiency, reliability, and durability of powertrains in vehicles. These services include dynamic and durability testing, drivability analysis, emission testing, and calibration of powertrains. The use of advanced technologies such as simulation tools, test benches, and data analytics enables automotive powertrain testing services to deliver accurate and precise results. The market is driven by stringent regulations, increasing demand for fuel-efficient and eco-friendly vehicles, and the need for continuous innovation in powertrain technology. Companies offering automotive powertrain testing services include Eaton, Vehicle Hydraulic & Engine, Engines and Transmissions Services, Clutch Technology, and Drive Systems Technology. These players focus on expanding their service offerings, enhancing their technology capabilities, and collaborating with OEMs to stay competitive in the market.
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About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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