The powertrain of a vehicle is defined by its performance, comfort, and safety, it is undergoing radical change which is driven by the challenges that the global market faces today. The engine and transmission are considered to be the major components of the powertrain, and other key components include the clutch or torque converter, drive shaft or propeller shaft, differential, and axles. The increasing need for less dependence on fossil fuels and improved carbon footprints is driving the growth in the technologies used in all vehicles. The increasing demand for such technologies has a direct impact on approaches to testing of powertrain components and systems all around the globe. Currently, gasoline powertrains are the most widely adopted, and are expected to be replaced by diesel ones as the difference between the prices of gasoline and diesel is increasing. As a result of this, the powertrain systems and components manufacturers have been adopting hybrid powertrains to reduce fuel usage in vehicles.
COVID-19 scenario analysis:
- As the manufacturing units around the world have been shut down, footfalls in the demand due to market shut down with a huge dip in the sales of units have made a huge impact on the market.
- The highest production loss has been listed by the most productive countries around the world since the pandemic, plus the economic trade has also posted a huge impact on the manufacturing companies.
- The shutdown of manufacturing assemblies plants has had a pronounced ripple effect on the rest of the industry, with thousands of suppliers and sub-suppliers being directly impacted.
- The companies have taken various measures during the pandemic and lockdown to maintain sustainability in the market but the small market players will suffer huge losses and will require more time to revive the demand back into the market.
- The global supply chain has been broken staring from China to Europe, manufacturers dependent on raw material and small components are unable to process the production cycle.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Some of the factors such as the growing trend of downsized engines and rising demand for automatic transmissions are expected to drive the demand of the market during the forecast period. However, stringent emission norms and saturation in European markets are anticipated to hamper the growth of the market. Furthermore, increasing car penetration in emerging countries is expected to offer lucrative opportunities for the market in the forecasting period.
The powertrain testing market trends are as follows:
The growing trend of downsized engines
The downsizing of an engine is a practice of improving fuel efficiency in an Internal Combustion Engine (ICE) to utilize smaller combustion engines over larger ones of the same power capacity when manufacturing vehicles. Also, by reducing the frictional loss and weight while turbocharging is used to maintain the peak power from an engine. In addition, the downsizing of the engine can help in reducing fuel consumption and emissions inside the engine. Hence, increasing trend for downsizing the engine has rapidly increased the demand for the powertrain testing market all across the globe.
Rise in demand for automatic transmissions
An automatic transmission in an engine is a type of motor vehicle transmission that automatically changes the gear ratio as the vehicle moves, meaning rather than utilizing a clutch the gear are automatically shifted. In addition, manufacturers in the industry are striving to offer cost-efficient solutions without compromising on the performance of the vehicle through their product offerings. Hence, they are adopting several growth strategies to meet the rising demand for transmission systems across the automotive industry. The increasing demand for the automatic transmission in the industry as they are required to abide by stringent regulations which is expected to grow the powertrain testing market further during the forecast period.
Key benefits of the report:
- This study presents the analytical depiction of the powertrain testing market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the powertrain testing market share.
- The current market is quantitatively analyzed to highlight the powertrain testing market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed powertrain testing market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the powertrain testing market research report:
- Which are the leading market players active in the powertrain testing market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Powertrain Testing Market Report Highlights
By Vehicle Type
Key Market Players
IAV, FEV, Intertek, Applus+ IDIADA, AKKA Technologies, ThyssenKrupp, A&D, Horiba, Atesteo, Ricardo, MAE