APAC to Dominate the Global Automotive Powertrain Testing Services Market 2018-2022| Technavio
LONDON--(BUSINESS WIRE)--May 14, 2018-- projects the to post a CAGR of close to 10% during the forecast period. The increasing vehicle population is one of the factors that will drive market growth. The automotive industry is witnessing favorable conditions across multiple geographies. The vehicle production numbers, which include passenger cars and commercial vehicles, currently stand at more than 97 million units and are expected to reach an estimated 112 million units by 2022.
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Technavio has published a new market research report on the global automotive powertrain testing services market from 2018-2022. (Graphic: Business Wire)
In this report, Technavio highlights the development of computer and IT-enabled powertrain testing systems as one of the key emerging trends in the global automotive powertrain testing services market:
Development of computer and IT-enabled powertrain testing systems
Advanced systems with the potential to transform the future of powertrain testing are being developed with the increasing use of Internet-based technologies, IT skills, and engineering expertise. One such development is Ricardo’s Global Test Environment (GTE), which differentiates the company from the rest of the companies in the market. The system employs some of the latest secure networking and Internet-based technologies to develop a remote access system that provides everything that the test and development engineers require when they visit a powertrain test cell. It offers the ability to cross-examine test parameters, alter test conditions, monitor results, investigate problems, look around the cell, and examine individual components. The engineer can connect to the test cell from any location through his or her computer system. Aston Martin was one of the earliest adopters of this GTE technology for powertrain testing. The automaker used this technology for its Aston Martin Vantage V8 engine testing.
According to a senior analyst at Technavio for research , “The system has resulted in a significant reduction in test development time and costs. There are ongoing developments to further upgrade the GTE technology to offer it as a package, including the software, equipment, and support that can be implemented at the test facilities of OEMs or suppliers.”
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Market segmentation and analysis through 2022
This market research report segments the global automotive powertrain testing services market based on powertrain type (ICE powertrain and hybrid and electric powertrain) and key regions (the Americas, APAC, and EMEA).
In 2017, APAC dominated the with a share of over 51%, followed by EMEA and the Americas. APAC is leading the market for automotive powertrain testing services, as it is the largest and fastest-growing vehicle market and has the most consumers in the world and hence holds a large testing market. APAC also serves as the largest automotive component-manufacturing hub. The rising demand for vehicles from countries, such as China, South Korea, and India, is attracting global automotive manufacturers to invest in and operate from these countries, thus driving the need for testing equipment.
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SOURCE: Technavio Research
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PUB: 05/14/2018 10:11 AM/DISC: 05/14/2018 10:11 AM