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Automotive Engineering Services Market 2023 - Latest Trends, Industry Size, Top Players, Revenue And Forecast 2032
Automotive Engineering Services Market
Automotive Engineering Services Market Size, Growth Rate, And Forecast
The global automotive engineering services market size grew from $219.97 billion in 2022 to $243.34 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive engineering services market size is expected to grow to $359.07 billion in 2027 at a CAGR of 10.2%.
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Automotive Engineering Services Market Drivers
The rising demand for emission-less transportation is expected to propel the growth of the automotive engineering services market. The usage of fossil fuels like diesel and gasoline releases greenhouse gases such as carbon dioxide, methane, hydrofluorocarbons, and nitrous oxide into the atmosphere, resulting in changes to the climate and thus increasing demand for emission-less transport mediums such as electric vehicles.
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Automotive Engineering Services Market Segments
• By Vehicle Type: Passenger Cars, Commercial Vehicles
• By Service Type: Concept/Research, Designing, Prototyping, System Integration, Testing
• By Location Type: On-Shore, Off-Shore
• By Application: Electrical, Electronics and Body Controls, ADAS and Safety, Chassis, Connectivity Services, Powertrain and Exhaust, Interior, Exterior, and Body Engineering, Simulation
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Automotive Engineering Services market.
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Automotive Engineering Services Market Key Players
Major competitors in the Automotive Engineering Services market include Capgemini Se, IAV GmbH, Tech Mahindra Limited, AKKA Technologies, Bertrandt AG, Harman International Industries, Inc.
The Business Research Company's "Global Automotive Engineering Services Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Automotive Engineering Services Market Include:
1. Executive Summary
2. Automotive Engineering Services Market Characteristics
3. Automotive Engineering Services Market Trends And Strategies
4. Automotive Engineering Services Market - Macro Economic Scenario
5. Automotive Engineering Services Market Size And Growth
......................
26. Africa Automotive Engineering Services Market
27. Automotive Engineering Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Engineering Services Market
29. Automotive Engineering Services Market Future Outlook and Potential Analysis
30. Appendix
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