Global Automotive Powertrain Testing Market 2019-2023 | Increasing Demand for Electric and Hybrid Vehicles to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 15, 2019--
The automotive powertrain testing market size is expected to post a CAGR close to 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191015005660/en/
Technavio has announced its latest market research report titled global automotive powertrain testing market 2019-2023. (Graphic: Business Wire)
Strict emissions regulations are being formulated and implemented by several countries worldwide to control existing pollution levels and the resultant effects such as global warming. Such emission control regulations compel automotive manufacturers to improve the efficiency of the engine using different methods. Thus, the demand for testing services will increase as OEMs will have to evolve their technologies based on emission norms.
To learn more about the global trends impacting the future of market research, download free sample: https://www.technavio.com/talk-to-us?report=IRTNTR30826
As per Technavio, the increasing demand for electric and hybrid vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Automotive Powertrain Testing Market: Increasing Demand for Electric and Hybrid Vehicles
Globally, the demand for EVs is rising as they reduce the dependence on gasoline/diesel-based automobiles and help in decarbonizing the transport sector to a great extent. Increasing fuel prices, growing environmental concerns, performance benefits, and low running cost of vehicles is expected to drive the demand for EVs. The fast growth of EVs and hybrid vehicle technology has generated a need for advanced testing and development solutions capable of meeting the unique challenges that vehicle electrification presents. Thus, the growth in demand for EVs and hybrid vehicles will drive the growth of the automotive powertrain testing market during the forecast period.
“Apart from the increasing demand for electric and hybrid vehicles, other factors such as the advancements in high-performance computing, and the development of engine torque pulsation simulation dynamometer will have a significant impact on the growth of the automotive powertrain testing market during the forecast period, ” says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 10,000+ market research reports.
Automotive Powertrain Testing Market: Segmentation Analysis
This market research report segments the automotive powertrain testing market by type (ICE powertrain and hybrid and electric powertrain) and geography (APAC, Europe, MEA, South America, and North America).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA respectively. The growth of the automotive powertrain testing market share in APAC can be attributed to factors such as the rising investments on engines and powertrains, increasing demand for automobiles, and the expansion of production facilities in the region.
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.Request a free sample report
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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 10,000 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.
If you are interested in more information, please contact our media team at [email protected].
View source version on businesswire.com:https://www.businesswire.com/news/home/20191015005660/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 10/15/2019 09:00 AM/DISC: 10/15/2019 09:01 AM