Product Code: RP-ID-10347545 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Automotive & Transportation |
Report ID: 10347545
Market Overview:
Global Automotive Engineering Services Market Size study, by Application (ADAS & Safety, Body Electrical & Electronics, Chassis, Connectivity, Interior/Exterior, Powertrain & Exhaust, Battery, Motor, Charger Test, Simulation), Location (In-House, Outsource), Service (Concept/Research, Designing, Prototyping, System Integration, Testing), Vehicle (Passenger Car, Commercial Vehicle) and Regional Forecasts 2020-2027
Global Automotive Engineering Services Market is valued approximately USD 140.9 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 8.8 % over the forecast period 2021-2027. Automotive engineering services are referred to the engineering solutions to different parts of the vehicles including mechanical, safety, software, electrical and electronics engineering services and solutions to design vehicles for land, aviation and marine applications. Apart from this, these services are focused on improving the manufacturing process and maintaining vehicle efficiency. Increasing demand for advanced connectivity solutions is expected to drive the market growth. Automotive OEMs and Tier 1 partners have been investing huge resources in innovating developing next generation vehicles, ultrasonic sensors, IoT devices, and high definition cameras. These elements create an eco-system for connecting to the outside world and exchange data to enhance the car experience. However, concerns related to the intellectual property rights and patent rights for the developers and owners are the factor that impede the growth of the market over the forecast period of 2021-2027. Also, the growing adoption of electric and hybrid vehicles is increasing the production of these vehicles which is likely to increase the market growth during the forecast period.
The regional analysis of global Automotive Engineering Services market is based on the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. In terms of market share, Europe is the leading region due to increased demand for low emission vehicles and development of new solutions related to powertrain, thermal and exhaust systems. Moreover, the highest CAGR is expected from the Asia-Pacific region over the forecast period 2021-2027. Factors such as adoption of electric vehicle, strict safety standards and growing passenger’s car to increase the sales in the region is contributing to the market growth across the Asia-Pacific region.
Major market player included in this report are:
Capgemini (France)
IAV Automotive Engineering (Germany)
Tech Mahindra (India)
AKKA Technologies (Belgium),
Bertrandt AG (Germany)
HARMAN International
Valmet Automotive
FEV Europe GmbH
HCL Technologies Limited
ESI Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application:
ADAS & Safety
Body Electrical & Electronics
Chassis
Connectivity, Interior/Exterior
Powertrain & Exhaust
Battery, Motor, Charger Test, Simulation
By Location:
In-House
Outsource
By Service:
Concept/Research
Designing
Prototyping
System Integration
Testing
By Vehicle:
Passenger cars
Commercial vehicles
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Automotive Engineering Services Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Capgemini (France)
IAV Automotive Engineering (Germany)
Tech Mahindra (India)
AKKA Technologies (Belgium),
Bertrandt AG (Germany)
HARMAN International
Valmet Automotive
FEV Europe GmbH
HCL Technologies Limited
ESI Group
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