Westford,USA, July 26, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the Automotive Engineering Services market, increasing focus on electric vehicle (EV) engineering services to support the development of EV platforms, battery technologies, and charging infrastructure, growing demand for software engineering services to cater to the rising complexity of in-vehicle software, connected car solutions, and autonomous driving systems, the adoption of advanced simulation and virtual testing tools to accelerate product development and reduce time-to-market, rising interest in additive manufacturing and 3D printing for rapid prototyping and manufacturing of automotive components, are the trends that aid in the market's growth.
Browse in-depth TOC on "Automotive Engineering Services Market"
- Pages - 265
- Tables - 71
- Figures - 75
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Prominent Players in Automotive Engineering Services Market
- AKKA Technologies
- Altran
- Aptiv
- Bosch Engineering
- Continental Engineering Services
- Delphi Technologies
- FEV
- Magna International
- MTU Aero Engines
- Ricardo
- Robert Bosch Engineering
- Siemens
- SGS
- SMMT
- Tata Technologies
- Valeo
- Visteon
- WABCO
- ZF Friedrichshafen
Electric Vehicle Engineering Demand to Grow Substantially in the Forecast Period
Electric vehicle engineering dominated the global online market as there is a global shift towards sustainable transportation and the increasing adoption of electric vehicles (EVs), electric vehicle engineering services are witnessing high demand. EV engineering services encompass various aspects, such as battery technology, electric powertrains, charging infrastructure, and vehicle design optimization for improved range and performance.
OEMs (Original Equipment Manufacturers) are the Leading Application Segment
In terms of application, the OEMs (Original Equipment Manufacturers) are the leading segment because global automotive production continues to increase, and the demand for engineering services from OEMs also rises. OEMs require various engineering support to develop and produce vehicles with the latest technologies and features.
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North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The region has several well-established automotive manufacturers and suppliers, creating a strong demand for engineering services to support their product development and innovation efforts.
A recent report thoroughly analyzes the major players operating within the Automotive Engineering Services market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Automotive Engineering Services.
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Key Developments in Automotive Engineering Services Market
- In January 2023, Aptiv acquired AKKA Technologies. This acquisition will help Aptiv to expand its engineering services capabilities and meet the growing demand for automotive electronics.
- In February 2023, Robert Bosch Engineering acquired AVL List GmbH. This acquisition will help Bosch to expand its engineering services capabilities and meet the growing demand for powertrain and safety technologies.
Key Questions Answered in Automotive Engineering Services Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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