Automotive Engineering Services Market is Estimated to Cross a Worth of 35.21 Billion & Expand at CAGR of 5.6% through 2032

Polaris Market Research has recently published its latest research report titled "Automotive Engineering Services Market by Vehicle Type (Passenger, Commercial), Location, Application, Service, Propulsion, Nature Type, Region - Global Forecast to 2032." The rising advances in technology and shifting consumer preferences are the primary factors driving the industry forward. Besides, the increasing demand for electrical system design services is having a favorable impact on the market expansion.

The global market for automotive engineering services was valued at USD 21.65 billion in 2023 and is expected to grow to USD 35.21 billion by 2032, exhibiting a CAGR of 5.6% during the forecast period from 2024 to 2032.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/industry-analysis/automotive-engineering-services-market/request-for-sample

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

The automotive engineering services market has the presence of both new participants and established players. These players focus on strategic development to maintain their competitive edge and gain a larger revenue share.

𝐀𝐦𝐨𝐧𝐠 𝐭𝐡𝐞 𝐤𝐞𝐲 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐩𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐧𝐭𝐬 𝐢𝐧𝐜𝐥𝐮𝐝𝐞:

• Capgemini
• IAV Automotive Engineering
• Bertrandt AG
• L&T Technology Services
• ALTRAN
• Ricardo
• Continental AG
• EDAG Engineering GmbH
• Semcon
• Tech Mahindra
• AKKA Technologies and HCL Technologies

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/buy/2236/2

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

• The market is primarily segmented based on vehicle type, location, application, service, propulsion, nature type, and region.

• By application analysis, the electrical, electronics, and body controls segment dominated the market owing to the increased demand for sophisticated electrical system architecture.

• By propulsion analysis, the ICE segment is expected to grow at the highest CAGR during the forecast period as they're a primary propulsion technology for automobiles.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧

Automotive engineering services refer to services utilized in designing, developing, and prototyping automotive components. Also, system integration and production of passenger cars fall under these services. Automotive engineering services primarily aim at improving manufacturing and reducing additional expenditure. They combine three main functions, which include production, development, and manufacturing. Automotive engineering services may be related to software, hardware, electronics, and interior/exterior of automobiles. These services enhance the manufacturing process to improve the firm's operational cycle without compromising on its quality.

𝐂𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/industry-analysis/automotive-engineering-services-market

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

• North America (U.S., Canada)

• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)

• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)

• Latin America (Brazil, Mexico, Argentina)

• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐢𝐧𝐠 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

• Electrical, Electronics and Body Control segment accounted for the largest market share in 2022 owing to the advancements in automotive technologies and increasing Focus on Safety and Comfort

• Electrical Vehicle segment is anticipated to grow at a high CAGR during the forecast period. This can be attributed to stringent government regulations around emissions.

• Asia Pacific region held the highest market share in 2022 as this region is home to some of the largest automotive markets in the world.

• Prominent players include Altran Technologies, IAV GmBH, L&T Technology Services Limited and AKKA Technologies.

𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫 𝐀𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐛𝐲 𝐄𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

𝐖𝐨𝐨𝐝𝐰𝐨𝐫𝐤𝐢𝐧𝐠 𝐌𝐚𝐜𝐡𝐢𝐧𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/woodworking-machinery-market

𝐌𝐨𝐭𝐨𝐫 𝐆𝐫𝐚𝐝𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/motor-grader-market

𝐒𝐚𝐭𝐞𝐥𝐥𝐢𝐭𝐞 𝐆𝐫𝐨𝐮𝐧𝐝 𝐒𝐭𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/satellite-ground-station-market

𝐅𝐢𝐫𝐞 𝐓𝐫𝐮𝐜𝐤𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/fire-trucks-market

𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐃𝐞𝐩𝐚𝐫𝐭𝐦𝐞𝐧𝐭 𝐄𝐱𝐩𝐥𝐨𝐬𝐢𝐯𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/research-department-explosives-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐈𝐧𝐟𝐨:

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