Prominent Growth of the Electric Vehicle and Shorter Product Development Timeframe Driving the Demand for Simulation Tables
In accordance to latest research estimates, Simulation Tables Market is predicted to witness continuous growth in the tenure of 2021-2031. The demand will surge up post pandemic and will show optimistic growth in the short as well as long run. Demand from 2- wheeler and passenger vehicle will rise slowly yet steadily and the commercial sector is ought to keep the cash flowing at a faster pace.
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What is Driving Demand for Simulation Tables?
Nowadays, automobile designers face a tough challenge caused due to tighter budgets, limited resources, evolving customer requirements and shorter time to the market. Simulation tables can be used continuously for several days to provide a simulation equivalent to thousands of kilometers. The timeframe to bring a new component to the market has significantly decreased from 4 years to a minimum of 18 months. Real simulation technologies advancements to decrease this time interval is a major driver contributing towards the rise of the simulation table market. Automotive market players are leveraging simulation technologies, such as the simulation table to satisfy customer needs, cost and performance targets and increasing compliance towards regulatory demands. These tables serve as an alternative to old and conventional single physics simulation, which covers only a sole physical effect on a component. These conventional techniques would not recognize potential failure modes in different environments. It would compromise on product quality, development time and potential warranty issues hence driving the demand of the simulation table market. The tables control the cost of testing across various operating environments while requiring a lower lab space.
As the electric vehicle market continues to grow at a faster rate, the number of parameters towards the simulation have also increased. Coolant flows, temperature modulation and its effect on the electromagnetics affect efficiency as well as the structural performance of the components which ultimately result in noise. Simulation tables, with detailed models to assess and optimize key vehicle components and systems would boost the growth of the market. Increasing growth of ADAS (Advanced Driving Assistance Systems) in vehicles, is increasing the demand for calibration equipment and advanced testing aiding towards the growth of the simulation table market. Automotive manufacturers are using these advanced equipment to develop smarter vehicles. These factors are subsequently aiding towards the growth of the market. Hydraulic Simulation tables however require additional technologies to cool hydraulic oils and therefore are high in cost, which hinder the growth of the market. The ongoing crisis caused by the COVID – 19 pandemic, brought the global automotive industry to an abrupt halt, with sales plummeting in most markets. Leading players in the automotive industry suffered a difficult 2020 first half, with slightly improved Q3. However, the second wave of the COVID -19 pandemic, has led to United States of America and United Kingdom governments to re-impose lockdowns further compromising sales in 2021 Q1. In spite of severe cost cuttings by OEMs and promising roll – out of vaccines, the rebound of the automotive industry seems challenging. The pandemic, although gave automobile industry players an opportunity to relocate themselves by focusing on connectivity and electrification. With stringent carbon dioxide emissions goals in play by various countries, the electric vehicle market is expected to tremendously grow. Increasing investments towards EV’s and digital technologies in the automotive industry for sustainability and customer experience is expected to increase the demand for the market despite harsh situations in the parent market.
What makes China the Biggest Consumer?
China’s apparent commitment to renewable energy is encouraging as the country with the biggest population and carbon impact. In 2020, according to the IEA Global Electric Vehicle Outlook, China registered 1.2 million electric vehicles, which was the second highest in the world.
Moreover, from January to May 2021, China sold 10.88 million vehicles, up 36% from the same period a year earlier, data from the China Association of Automobile Manufacturers (CAAM). The high sales of conventional as well as electric vehicles in China makes it the biggest consumer of these tables.
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Germany Simulation Tables Market Growth Outlook
Germany has brought about almost 395,000 new electric vehicle registrations in the year 2020, which was the highest in Europe region, resulting in a total of 1.4 million of electric vehicle registrations in Europe making it the highest in the world. Germany is the manufacturing hub of Europe and home to many of the renowned automakers, making Germany leading consumer of Simulation Tables in Europe. There are numerous independent testing facilities in the country wherein automakers test their vehicles before launching them into the market. These facilities ensure that the high quality standards of automotive manufacturers and their suppliers are met, increasingly sophisticated and complex testing procedures are becoming the order of the day.
Who are the Key Manufacturers and Suppliers of Simulation Tables?
Some of the key manufacturers of Simulation Tables are
- Moog Inc.
- Mitsubishi Heavy Industries Machineries Systems Ltd
- Weiss Technik
- MTS System Corporation
- IMV Corporation
- Bosch Rexroth AG
- CFM Schiller
- DONGLING Technologies
- Team Corporation etc.
Companies around the world are focusing on providing engineering, procurement, construction (EPCs). EPCs include pure-players companies and general construction companies offering services for installing PV mounting systems. Integrated PV developers sometimes conduct EPC together with operation and maintenance (O&M) services by themselves. This benefits the end user as a major chunk of maintenance gets released from them.
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