Dublin, Oct. 03, 2024 (GLOBE NEWSWIRE) -- The "Automotive Engineering Services - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Automotive Engineering Services is estimated at US$202.5 Billion in 2023 and is projected to reach US$349.3 Billion by 2030, growing at a CAGR of 8.1% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the automotive engineering services market is driven by several factors. Firstly, the accelerating development and adoption of electric vehicles (EVs) and autonomous vehicles (AVs) are major drivers, necessitating advanced engineering expertise. Secondly, the continuous innovation in ADAS and vehicle safety technologies is boosting the demand for specialized engineering services. Thirdly, regulatory pressures to reduce emissions and enhance vehicle safety are encouraging automakers to seek external engineering support.
Additionally, the rise of connected vehicles and the integration of IoT technologies are creating new opportunities for engineering services. Furthermore, the increasing complexity of automotive systems and the need for rapid prototyping and testing are driving the demand for comprehensive engineering solutions. Lastly, the trend towards digitalization and the use of simulation and virtual testing tools are enhancing the capabilities and efficiency of automotive engineering services.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the In-House Services segment, which is expected to reach US$230.4 Billion by 2030 with a CAGR of a 8.4%. The Outsourced Services segment is also set to grow at 7.5% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $27.3 Billion in 2023, and China, forecasted to grow at an impressive 10.6% CAGR to reach $67.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Automotive Engineering Services Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Automotive Engineering Services Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as AKKA Technologies, ALTEN Group, AVL List GmbH, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Questions Answered:
- How is the Global Automotive Engineering Services Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 549 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $202.5 Billion |
| Forecasted Market Value (USD) by 2030 | $349.3 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Automotive Engineering Services Market: A Prelude
- Competition
- Automotive Engineering Services - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Engineering Services Grow in Demand with EV Production on a Fast Track as Countries Vie to Become Carbon Negative
- World Electric Vehicles (EVs) Annual Sales in '000 Units for Years 2020 through 2027
- More Number of People Are Aware About the Benefits EVs Bring to the Table: % Global Consumers Preferring to Buy EVs (Fully Electric/Plug-in/Hybrid) for the Years 2020, 2021 and 2022
- Transportation Sector Emissions Breakdown by Type as of the Year 2023
- Autonomous Cars: A Landmine of Growth Opportunity for Automotive Engineering Services
- World Autonomous Vehicles Market Analysis of Annual Sales in '000 Units for Years 2020 through 2027
- Levels of Automation
- Global Autonomous Vehicle Sales Distribution by Level Typefor Years 2020, 2025 & 2030
- Increasing Demand for Advanced Connectivity Solutions Pushes the Need for Engineering Services
- Global Connected Cars Market (In US$ Billion) for the Years 2021, 2023 and 2025 % of New Vehicles with In-Built Connectivity for 2023 and 2030
- Automotive Engineering Services for Tapping Connectivity
- Rise in Integration of ADAS by OEMs into Latest Models Augers Well for Engineering Services Market
- Global Advanced Driver Assistance System (ADAS) Market Size in US$ Billion for the Years 2021, 2023, 2025 & 2027
- Select ADAS Technologies
- Rise in Vehicle Electronification Drives Demand
- With Advanced Technologies Making a Big Impact on Automotive Sector, Automotive Engineering Services Grow in Importance
- Rising Industry Focus on Engineering of Light Weight Vehicles Pushes Demand for Advanced Engineering Capabilities
- Breakdown of Automotive Material Mix: 2023
- Industry Witnesses Continued Preference of OEMs toward Outsourcing Services for Cost Savings
- Engineering Services Gain as Automaker Strengthen R&D Spending
- Automotive R&D Spending in US$ Billion for 2020, 2025, and 2030
- Automotive R&D Spending Breakdown by Segment : 2025
- R&D Focus Shifts from Hardware to Software Engineering
- Upside Potential of Vehicle Testing for Automotive Engineering Services
- Powertrain Engineering Services Gain Significance
- What Kind of an Automobile is on the Radar of Consumers Wanting to Own One: Powertrain Preference of Consumers (In %) as of the Year 2023
- Emissions & Vehicle Safety Regulations Rev Up Automotive Engineering Services Market
- Safety Regulations Step-Up the Pressure on Software
FOCUS ON SELECT PLAYERS(Total 106 Featured)
- AKKA Technologies
- ALTEN Group
- AVL List GmbH
- Bertrandt AG
- Continental AG
- EDAG Engineering Group AG
- ESI Group
- FEV Europe GmbH
- HARMAN International
- HCL Technologies Limited
- IAV Automotive Engineering Inc.
- Kistler Group
- L&T Technology Services Limited
- Onward Technologies Ltd.
- Ricardo PLC
- Semcon
- SOLIZE Corporation
- Tech Mahindra Limited
- T-NET JAPAN Co., Ltd.
- Valmet Automotive
For more information about this report visit https://www.researchandmarkets.com/r/gdp5ez
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