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Market Snapshot

CAGR:7.45

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	7.45

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Report Overview

Automotive Engineering Services Market Analysis Report 2023-2032

The Automotive Engineering Services Market is set to experience a Compound Annual Growth Rate (CAGR) of 7.95% between 2022 and 2032, leading to a significant market size increase of USD 4,237.82 million over this period. Several factors contribute to this growth, including the automotive industry's ever-increasing complexity, the need for innovative solutions in vehicle design and development, and the drive toward sustainability and technological advancement.

Automotive Engineering Services Market Overview

Drivers

A key driver behind the expansion of the Automotive Engineering Services Market is the escalating complexity of the automotive industry. As vehicles become more technologically advanced, interconnected, and environmentally conscious, manufacturers require specialized engineering services to design and develop innovative solutions.

Moreover, the growing emphasis on sustainable mobility and the integration of electric and autonomous technologies into vehicles are compelling automotive companies to seek engineering expertise that can propel their products into the future.

Trends

A notable trend shaping the Automotive Engineering Services Market is the adoption of cutting-edge technologies. Engineering services encompass areas such as vehicle electrification, connectivity, and autonomous driving, and companies are increasingly relying on engineering partners to help them stay at the forefront of technological advancements.

Furthermore, the rise of electric vehicles (EVs) and hybrid powertrains is pushing the demand for services related to battery technology, charging infrastructure, and energy management.

Restraints

The costs associated with advanced engineering services can be a limitation for market growth. While the benefits of innovative design and development are substantial, some companies may find the initial investment required for engineering expertise challenging to manage.

Additionally, the competition among engineering service providers can lead to margin pressures, affecting the profitability of companies operating in this sector.

Automotive Engineering Services Market Segmentation By Service Type

Product engineering services are expected to be a leading growth sector in the Automotive Engineering Services Market. These services encompass the development of vehicle components and systems, including powertrains, chassis, and electronics, catering to the demand for cutting-edge vehicle technologies.

Another significant segment is connected and autonomous vehicle (CAV) engineering services. The development of self-driving vehicles and the integration of connectivity features are driving the need for engineering expertise in this domain.

Automotive Engineering Services Market Segmentation By Application

The automotive OEMs segment is projected to experience substantial growth during the forecast period. Original Equipment Manufacturers (OEMs) require comprehensive engineering support to design and produce vehicles that meet the evolving market demands, regulatory standards, and consumer preferences.

Another key application segment is automotive suppliers. These companies depend on engineering services for developing and optimizing components, systems, and technologies that they provide to OEMs.

Regional Overview:

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North America is anticipated to be a key driver of global Automotive Engineering Services Market growth. The region has a strong presence of automotive manufacturers and a growing focus on electric and autonomous vehicle development, driving the need for specialized engineering services.

The market experienced temporary disruptions during the COVID-19 pandemic due to supply chain challenges and economic uncertainties. However, as the industry adapts to new market demands and sustainability goals, the Automotive Engineering Services Market is poised to witness renewed growth, driven by innovation and technological advancement.

Automotive Engineering Services Market Customer Landscape

The Automotive Engineering Services Market report offers insights into adoption patterns, ranging from early adopters to laggards. The report examines adoption rates across different regions based on penetration levels. Moreover, the report delves into key criteria influencing purchase decisions and factors affecting price sensitivity, aiding companies in devising effective strategies for market entry and growth.

Major Automotive Engineering Services Market Companies

Prominent players in the Automotive Engineering Services Market are implementing diverse strategies to bolster their market presence. These strategies include strategic collaborations, mergers and acquisitions, expanding service portfolios, geographic expansion, and technological innovations.

Sample list of major companies in the market:

AutoTech Innovations
InnovateDrive Engineering
VehicleSolutions Engineering
FutureWheels Automotive Engineering
AdvanMotorix Solutions

Qualitative and quantitative analyses of these companies provide valuable insights into the competitive landscape, enabling stakeholders to comprehend market dynamics and assess the strengths and weaknesses of key players.

Segment Overview

The Automotive Engineering Services Market report provides revenue forecasts on a global, regional, and country level, along with an analysis of emerging trends and growth opportunities spanning from 2019 to 2032.

Service Type Outlook (USD Million, 2019 - 2032)

Product Engineering Services
Connected and Autonomous Vehicle (CAV) Engineering Services
Others

Application Outlook (USD Million, 2019 - 2032)

Automotive OEMs
Automotive Suppliers
Others

Geography Outlook (USD Million, 2019 - 2032)

North America

United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

APAC

China
Japan
India
Rest of APAC

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

United Arab Emirates
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Automotive Engineering Services MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Automotive Engineering Services MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Automotive Engineering Services Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Automotive Engineering Services MARKET BY Location SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 In-house

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Outsource

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Automotive Engineering Services MARKET BY Vehicle type INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 Passenger Car

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 Commercial Vehicle

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Automotive Engineering Services MARKET REGIONAL OUTLOOK

7.1. Automotive Engineering Services Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Automotive Engineering Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Automotive Engineering Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Automotive Engineering Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Automotive Engineering Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Automotive Engineering Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Automotive Engineering Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Automotive Engineering Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Automotive Engineering Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Automotive Engineering Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Automotive Engineering Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Automotive Engineering Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Automotive Engineering Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Automotive Engineering Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Automotive Engineering Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Automotive Engineering Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Automotive Engineering Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Automotive Engineering Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Automotive Engineering Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Automotive Engineering Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Automotive Engineering Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Automotive Engineering Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Automotive Engineering Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Automotive Engineering Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Automotive Engineering Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Automotive Engineering Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Automotive Engineering Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Automotive Engineering Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Automotive Engineering Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Automotive Engineering Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Automotive Engineering Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Automotive Engineering Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Automotive Engineering Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Automotive Engineering Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Automotive Engineering Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Automotive Engineering Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Automotive Engineering Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Automotive Engineering Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Automotive Engineering Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Automotive Engineering Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Automotive Engineering Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Automotive Engineering Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Automotive Engineering Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Automotive Engineering Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Automotive Engineering Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Automotive Engineering Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Automotive Engineering Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Automotive Engineering Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Automotive Engineering Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Automotive Engineering Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Automotive Engineering Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Automotive Engineering Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Automotive Engineering Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Automotive Engineering Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Automotive Engineering Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Automotive Engineering Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Automotive Engineering Services Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Automotive Engineering Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 FEV (Germany)

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 IAV Automotive Engineering (Germany)

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 Ricardo (UK)

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 AVL (Austria)

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 Alten (France)

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 Bertrandt AG (Germany)

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Altran (France)

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 L&T Technology Services (India)

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Company 9

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiativesn

9.10 Company 10

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Automotive Engineering Services Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032