Tuesday, July 16, 2024

Auto Powertrain Testing Svcs Mkt to Grow USD 2.74B 2024-2028: Demand & Emission Norms Drive Growth – Technavio

The global automotive powertrain testing services market is set to experience significant growth, with a projected increase of USD 2.74 billion from 2024 to 2028. This growth is fueled by a growing consumer base and government regulations pushing for newer emission norms. Key players in the market include A and D HOLON Holdings Co. Ltd., Akkodis, ATS Automation Tooling Systems Inc., and more. The market is also witnessing advancements in computer and IT-enabled powertrain testing systems.

The Automotive Powertrain Testing Services Market is witnessing a surge in demand, driven by the integration of Internet-based technologies and IT skills into engineering expertise. Ricardo’s Global Test Environment (GTE) offers remote access to powertrain test cells, reducing test development time and costs. The market is experiencing growth due to the increasing demand for efficient and eco-friendly powertrains.

However, the market faces challenges due to the high cost of powertrain testing machines and facilities. Setting up a testing facility can be a substantial investment, particularly for modern powertrains that require advanced testing equipment. The need for driving dynamic and realistic testing conditions and regulatory requirements also add to the challenges faced by the market.

The market is segmented into ICE powertrain, hybrid and electric powertrain, passenger vehicle, and commercial vehicle, with the APAC, North America, Europe, South America, and Middle East and Africa regions covered. The growth of the ICE powertrain segment is driven by stricter emission regulations, fuel efficiency demands, and CAFE regulation norms in the US.

Overall, the Automotive Powertrain Testing Services Market is expected to continue growing as automakers prioritize innovation and compliance with regulations. The increasing demand for electric and hybrid vehicles, advancements in testing technologies, and the integration of various powertrain components are further fueling the market’s growth.

For more in-depth insights and analysis on the Automotive Powertrain Testing Services Market, download a sample report from Technavio. Technavio is a leading global technology research and advisory company, providing comprehensive coverage, extensive research, and actionable market insights to help businesses optimize their market positions.

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