The report segments the global automotive transmission dynamometer market by geography, including the Americas, EMEA, and APAC. It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global automotive transmission dynamometer market, according to Technavio automotive researchers:
- Increasing vehicle population and rapid growth in APAC: a major market driver
- Potential increase in HEV and EV population to impact dynamometer testing
- In 2016, APAC held the largest market share of close to 52%, followed by the Americas and EMEA
- SuperFlow Dynamometers & Flowbenches, Meidensha, HORIBA MIRA, SAKOR Technologies, Taylor Dynamometer, and Power Test are the key vendors
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Market growth analysis
The automotive industry is witnessing favorable conditions across multiple geographies. The vehicle production numbers, which include passenger cars and commercial vehicles, stood at 94.29 million units in 2016. This is one of the major factors driving the global automotive transmission dynamometer market. APAC is the fastest-growing vehicle market in terms of both production and consumption. Therefore, the expansion of existing production facilities and the rapid additions of production facilities in APAC will drive the market for automotive test equipment, such as dynamometers. The rise in demand for automobile restoration, especially in the fast-growing markets like India and China, is expected to further drive the market for engine dynos.
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Technavio researchers anticipate high growth for the global automotive transmission dynamometer market in APAC as the region serves as the largest automotive component-manufacturing hub. 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, driving the need for testing equipment. Technological advancements, in terms of the development of engines, powertrains, alternative fuel technologies, stringent emission norms, in addition to the steady automobile production in the Americas and EMEA are boosting the automotive transmission dynamometer market.
According to Neelam Barua, a lead analyst at Technavio for research on automotive services, “Promising economic growth potential in emerging countries is boosting the number of market opportunities for passenger cars, thereby, attracting global automobile manufacturers to this region. While market players are investing in technology to drive innovation in engines and powertrains, they are also expanding production facilities and setting up new facilities to cater to growing regional demand and beyond. These factors are increasing demand for automotive test equipment, including dynamometers.”
Competitive vendor landscape
The automotive industry increasingly demands continuous innovations in products and manufacturing processes. Consumers highly value the durability and reliability factors of vehicles, and these determine the reputation of the brand. Therefore, automotive test equipment will continue to be critical in delivering and exceeding customers' expectations through the concept of automotive test equipment. The dynamism in the industry is also helping in driving testing requirements and evolving the need for high-performance equipment. This, in turn, is generating several market opportunities for vendors operating in this space.
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