New York, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The global Automotive Acoustic Engineering Services market size is expected to expand at ~ 7 % CAGR from 2023 to 2035. The market is anticipated to garner a revenue of USD 6 billion by the end of 2035, up from a revenue of ~USD 3 billion in the year 2022. The growth of the market can primarily be attributed to the tremendously increasing volume of automobiles along with rising stringent vehicular noise regulatory norms owing to the growing concern about noise pollution worldwide. According to the Environment Protection Rules of 1986 (EPR), the optimal permissible range for all passenger and commercial vehicles at the manufacturing stage ranges between 81 dB and 90 dB of noise.
Request Free Sample Copy of this Report @
https://www.researchnester.com/sample-request- 4485
Global Automotive Acoustic Engineering Services Market: Key Takeaways
- Market in Asia Pacific to propel the highest growth
- Electric segment to garner the highest growth
- Market in Europe to grow at the highest rate
Growth in Volume of Automotive to Boost Market Growth
The automotive acoustic engineering services market is estimated to grow over the forecast period owing to the expeditiously growing automotive sector with the tremendously rising demand & production of automobiles globally. For instance, global motor vehicle production increased by almost 1.3% in 2021 compared to 2020. Moreover, about 30 percent of new diesel-powered passenger cars were registered in the European Union in the same year. Furthermore, the increase in mid-sized & premium vehicles with interior cabin comfort & luxury features worldwide, along with rising concern about the ill effects of noise pollution on the environment and people’s health, has led market players to develop soundproofing solutions to lower engine noise, which in turn is expected to boost the demand for automotive acoustic engineering services to minimize and control the level of noise in the vehicles, propelling market growth.
Global Automotive Acoustic Engineering Services Market: Regional Overview
The global automotive acoustic engineering services market is briefly segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Flourishing Automobile Industry to Drive Growth in the Asia Pacific Region
The automotive acoustic engineering services market in the Asia Pacific region is estimated to garner the largest revenue by the end of 2033. The exponentially growing automobile industry in the region, as well as the presence of giant automobile manufacturers and the rapidly rising car manufacturing industry, together with the growing production of vehicles, are responsible for boosting market growth. Moreover, the rising business value of auto parts manufacturers with rapid expansion, collaboration, ventures, and mergers among prominent players and the development of technologies to measure and develop the in-range pass-by noise and stationary noise of vehicles produced in the region is expected to elevate regional market growth in the Asia Pacific. It was found that the production volume of vehicles in China reached more than 2.4 million units in June 2022. Moreover, Japan and South Korea boast impressive car manufacturing industries.
Growing Investment in Automotive Innovation to Drive Growth in the European Region
The automotive acoustic engineering services market in Europe is estimated to garner the highest CAGR by the end of 2033. The region's market growth over the forecast period can be attributed to increased investment in research and development (R&D) in automotive innovations. Additionally, increased sales of automotive acoustic engineering services by entities such as manufacturers, sole traders, and others for noise cancellation that may emerge from any vehicle's components so that it does not affect the vehicle's inner as well as outer environment are responsible for the market growth. The European Union's automotive sector was found to spend approximately USD 71 million per year on research and development (R&D) on automobiles and part innovation.
Make an Inquiry Before Buying this Report @
https://www.researchnester.com/inquiries-before-buying- 4485
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Automotive Acoustic Engineering Services Market, Segmentation by Application
- Internal Combustion Engine
- Electric
The electric segment is anticipated to hold the largest revenue by the end of 2033. The increasing demand for passenger vehicles as well as commercial vehicles across the globe, along with the growing electrification in the automotive sector and the increasing battery demand besides heightening electric mobility owing to the massively rising greenhouse gas (GHG) emissions, has led to the rising sale of electric vehicles globally, which in turn is expected to boost the segment growth in the upcoming years. Owing to the 2030 agenda and the Net Zero Emissions by 2050 Scenario, the global EV stock across all transport modes (excluding two- and three-wheelers) is estimated to expand to nearly 145 million vehicles by 2030, with an annual average growth rate of ~30%.
Global Automotive Acoustic Engineering Services, Segmentation by Process
- Design
- Development
- Test
The design segment is anticipated to hold the largest revenue by the end of 2033. The factors applicable to the growth of the segment include the rapidly increasing demand for multi-utility vehicles (MUVs), sport utility vehicles (SUVs), luxury cars, and other premium cars with the rising disposable income of the middle class owing to the rising GDP per capita of the populace globally. It was found that in 2021, out of the total light vehicles sold in the United States, luxury brands accounted for almost 14%. Moreover, with the rising demand for high-end vehicles, there is an increase in spending on automotive engineering & acoustics to design, develop, fabricate, and test vehicle components from the concept stage to the production stage and reduce the noise, if any, arising from different vehicular components. This, as a result, is further expected to boost segment growth.
Request for Customization of this Report @
https://www.researchnester.com/customized-reports- 4485
Global Automotive Acoustic Engineering Services, Segmentation by Software
- Calibration
- Signal Analysis
- Simulation
- Vibration
Global Automotive Acoustic Engineering Services, Segmentation by Offering
- Physical
- Virtual
A few of the well-known market leaders in the global automotive acoustic engineering services are profiled by Research Nester are Schaeffler Group, Harman International, Robert Bosch GmbH, Brüel & Kjær Vibro GmbH, FEV Group Gmbh, EDAG Engineering GmbH, Head acoustics GmbH, Bertrandt AG, AVL List GmbH, Siemens Aktiengesellschaft, and other key market players.
Recent Development in the Global Automotive Acoustic Engineering Services Market
- Schaeffler Group, a company with over 20 years of experience in the acoustic development of vehicle components developed a new sound using real-time sound synthesis and has revealed the new sound of the DTM Electric, the car sound of the future.
- HARMAN International which is a wholly-owned subsidiary of Samsung Electronics Co. Ltd., launched the Fiat New 500 “La Prima by Bocelli”. This premium sound is engineered and designed by JBL together in partnership with Andrea Bocelli.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
