DUBAI, United Arab Emirates, Nov. 13, 2022 (GLOBE NEWSWIRE) -- The global automotive engineering services market is anticipated to augment its growth over the projection period by registering a CAGR of around 8.6% from 2022 to 2032. The global market is anticipated to forecast revenue of US$ 166.16 Bn in 2022 and is likely to cross US$ 348 Bn by the end of 2032. The growth of the global automotive engineering services market is predicted by the growth prospects during the forecast period, expanding the automotive engineering services market size.
The automotive engineering services are largely used in servicing and diagnostic of mechanical, electrical, electronics and software systems, developing, fabricating, testing, and designing any component of a vehicle. This helps in giving the best shape, size, and model to the vehicle. The automotive engineering services comprise multiple services such as transmission and engine-related services, including changing the chassis and upgrading multiple components, fueling the sales of automotive engineering services.
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The automotive engineering services combine the concept phase with the use phase, efficiently integrating each component with the other. These components and fittings are also outsourced or done by the vendor themselves, also known as in-house automotive engineering services. This pushes the sales of automotive engineering services.
Key Takeaways
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Competitive Landscape
The key players in the global automotive engineering services market are emphasizing mergers and collaborations that are fueling the sales of Automotive engineering services.
- FEV Group GmbH
- IAV
- Ricardo
- AVL
- ALTEN Group
- Bertrandt
- ALTRAN
- L&T Technology
More Insights into the Automotive Engineering Services Market
Europe is anticipated to dominate the global automotive engineering services market due to the presence of prominent market players within the region. Several European countries are inclined towards reduced emission vehicles which propel the market growth even further in Europe over the forecast period. Germany is the leading country in Europe which is expected to account for the largest market share over the projection period.
Key Segments Profiled in Automotive Engineering Services Market
Service Type:
- Testing & Diagnostic
- System Integration
- Designing
- Prototyping
- Research
Applications:
- ADAS & Safety
- Body & Chassis
- Powertrain & Exhaust
- Interior, Exterior & Body Engineering
- Electrical, Electronics & Body Controls
- Connectivity Services
- Simulation
Location:
- Outsourced Services
- In-house Services
Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
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