Automotive Parts Remanufacturing Market and Engineering Services Analysis 2020 | ZF Group, HARMAN, Capgemini, Valmet Automotive, Tech Mahindra Limited

Automotive engineering services can be defined as the accumulation of service offerings that involves mechanical, software, electrical, electronics and safety engineering for the designing of vehicles, for land, marine, aviation applications. These services focus on optimizing the manufacturing process to improve the overall operational cycle of the organization while not compensating on efficacy of the vehicle.Global automotive engineering services market is expected to rise to an estimated value of USD 352.33 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the growing adoption of autonomous vehicles, along with the advent of 5G technology in the industry.

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What Market Data breakdown will be provided by key geographies, Type, Application, End-users:

Global Automotive Engineering Services Market By Service Type (Concept/Research; Designing; Prototyping; System Integration; Testing)

By Application (ADAS & Safety; Electrical, Electronics & Body Controls; Chassis; Connectivity Services; Interior, Exterior & Body Engineering; Powertrain & Exhaust; Simulation; Others)

By Location (In-House; Outsource); Vehicle Type (PC; CV); Geography (North America; Europe; Asia-Pacific; South America; Middle East and Africa) - Industry Trends and Forecast to 2026.

Market Drivers:

o Rising demand for connectivity offerings in automotive; this factor is expected to propel the growth of the market
o Increasing focus of the governments and manufacturers on developing lightweight, safe vehicle designs; this factor is expected to boost the growth of the market
o Growing preference of electric vehicles and their production focus is also expected to propel the growth of the market

Market Restraints:

o Concerns regarding the IP (intellectual property) rights for the product and their ownership are factors restricting the growth of the market
o Transformation of business models by the manufacturers designing the product in-house with their own designing team is also expected to restrict the growth of the market

Segmentation: Global Automotive Engineering Services Market

By Service Type

o Concept/Research
o Designing
o Prototyping
o System Integration
o Testing

By Application

o Advanced Driver-Assistance Systems (ADAS) & Safety
o Electrical, Electronics & Body Controls
o Chassis
o Connectivity Services
o Interior, Exterior & Body Engineering
o Powertrain & Exhaust
o Simulation
o Others

By Location

o In-House
o Outsource

By Vehicle Type

o Passenger Car (PC)
o Commercial Vehicle (CV)

Key Developments in the Market:

o In June 2018, HCL Technologies Limited announced that they had agreed to acquire H&D International Group. This acquisition will increase the presence of service offerings and capabilities of HCL Technologies Limited in the Germany region with a focus on the automotive industry. H&D's delivery center will be transformed into HCL's delivery center providing IT & engineering solutions for their consumers.
o In February 2017, Valmet Automotive announced that they had agreed to acquire Semcon's automotive engineering service operations situated in Germany as well as their testing services business located in Spain. The business consists of 800 employees which are set to be a part of the acquisition, will help Valmet in becoming more than just a contract manufacturer and roof systems provider. They will also be able to provide automotive engineering services throughout Europe focusing on electric vehicles.

Competitive Analysis:

Global automotive engineering services market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive engineering services market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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Key Market Competitors:

Few of the major competitors currently working in the global automotive engineering services market are HARMAN International; Capgemini; AVL; Bertrandt; ALTEN; Valmet Automotive; L&T Technology Services Limited; FEV Europe GmbH; AKKA; HCL Technologies Limited; IAV; ALTRAN; Ricardo; Tech Mahindra Limited; Onward Technologies Ltd.; T-NET JAPAN Co., Ltd.; Kistler Group; Continental AG; EDAG Engineering GmbH; ESI Group; Semcon; GlobalLogic; EPAM Systems, Inc.; Belcan and Robert Bosch GmbH among others.

Research Methodology: Global Automotive Engineering Services Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Key Insights in the report:
o Complete and distinct analysis of the market drivers and restraints
o Key market players involved in this industry
o Detailed analysis of the market segmentation
o Competitive analysis of the key players involved

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