Automotive Wind Tunnel market is expected to grow from US$ US$ 544.8 Mn in 2017 to US$ 1557.5 Mn by 2025 at a CAGR of 14.2% between 2017 and 2025.
The automotive wind tunnel offers two types of testing for the vehicles, which are model scale testing and full-scale testing. Asian countries such as India, China, Japan, and Korea are providing significant opportunities for the growth of the automotive wind tunnel market. Growing urbanization and increasing disposable income of the population is leading to increasing demand for vehicles in several regions. This is leading to high production of the vehicles. For providing a better product in the market, the automobile manufacturers are increasing demanding for automotive wind tunnels for the testing purpose and improving performance and efficiency of the vehicles.
Also, less air resistance help reduce emissions and increase fuel efficiency along with engines’ power output, generally by bringing down the engine size. Various emission standards set up by governments and various organizations, such as EURO 6 in European Union, Environment Protection Agency (EPA) in North America, and Bharat Stage Emission Standards in India, have led toward compliance to these standards by vehicle manufacturers in their respective regions. All these standards focus on lower the emission of carbon dioxide (CO2), nitrogen monoxide (NOx), particulate matter (PM), and nonmethane hydrocarbons (NMHC) among others. The aforementioned standards of emission have led to the invention of new technologies aiming to reduce the emission of these harmful gasses from vehicles’ combustion engine.
The only factor that can act as a restraint in the growth of the Automotive Wind Tunnel Market is the high capital requirement for offering high-end manufacturing capabilities. As the capital required for maintaining such production standards is high, only few players can fulfill the demands of OEMs, restraining the Automotive Wind Tunnel market growth.
The overall Automotive Wind Tunnel market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. It also provides the overview and forecast for the global automotive wind tunnel market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, Middle East and Africa, and South America. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the Automotive Wind Tunnel market.