openPR Logo
Press release

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

Automotive Engineering Services Market

Automotive Engineering Services Market

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.

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐…๐ซ๐ž๐ž ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐ƒ๐… ๐‘๐ž๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/industry-analysis/automotive-engineering-services-market/request-for-sample

๐๐ซ๐จ๐ฆ๐ข๐ง๐ž๐ง๐ญ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ

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.

๐€๐ฆ๐จ๐ง๐  ๐ญ๐ก๐ž ๐ค๐ž๐ฒ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ฉ๐š๐ซ๐ญ๐ข๐œ๐ข๐ฉ๐š๐ง๐ญ๐ฌ ๐ข๐ง๐œ๐ฅ๐ฎ๐๐ž:

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

๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐ž๐ฆ๐ข๐ฎ๐ฆ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/buy/2236/2

๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ฅ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ

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

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

โ€ข 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.

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ˆ๐ง๐ญ๐ซ๐จ๐๐ฎ๐œ๐ญ๐ข๐จ๐ง

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.

๐‚๐ฅ๐ข๐œ๐ค ๐ก๐ž๐ซ๐ž ๐ญ๐จ ๐€๐œ๐œ๐ž๐ฌ๐ฌ ๐ญ๐ก๐ž ๐…๐ฎ๐ฅ๐ฅ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/industry-analysis/automotive-engineering-services-market

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ

โ€ข North America (U.S., Canada)

โ€ข Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)

โ€ข Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)

โ€ข Latin America (Brazil, Mexico, Argentina)

โ€ข Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

๐€๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ž ๐„๐ง๐ ๐ข๐ง๐ž๐ž๐ซ๐ข๐ง๐  ๐’๐ž๐ซ๐ฏ๐ข๐œ๐ž๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐‡๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ

โ€ข 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

โ€ข 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.

โ€ข 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.

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

๐ƒ๐ข๐ฌ๐œ๐จ๐ฏ๐ž๐ซ ๐€๐๐๐ข๐ญ๐ข๐จ๐ง๐š๐ฅ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐›๐ฒ ๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ข๐ง๐  ๐‘๐ž๐ฅ๐š๐ญ๐ž๐ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ:

๐–๐จ๐จ๐๐ฐ๐จ๐ซ๐ค๐ข๐ง๐  ๐Œ๐š๐œ๐ก๐ข๐ง๐ž๐ซ๐ฒ ๐Œ๐š๐ซ๐ค๐ž๐ญ: https://www.polarismarketresearch.com/industry-analysis/woodworking-machinery-market

๐Œ๐จ๐ญ๐จ๐ซ ๐†๐ซ๐š๐๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ: https://www.polarismarketresearch.com/industry-analysis/motor-grader-market

๐’๐š๐ญ๐ž๐ฅ๐ฅ๐ข๐ญ๐ž ๐†๐ซ๐จ๐ฎ๐ง๐ ๐’๐ญ๐š๐ญ๐ข๐จ๐ง ๐Œ๐š๐ซ๐ค๐ž๐ญ: https://www.polarismarketresearch.com/industry-analysis/satellite-ground-station-market

๐…๐ข๐ซ๐ž ๐“๐ซ๐ฎ๐œ๐ค๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ: https://www.polarismarketresearch.com/industry-analysis/fire-trucks-market

๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐ƒ๐ž๐ฉ๐š๐ซ๐ญ๐ฆ๐ž๐ง๐ญ ๐„๐ฑ๐ฉ๐ฅ๐จ๐ฌ๐ข๐ฏ๐ž๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ: https://www.polarismarketresearch.com/industry-analysis/research-department-explosives-market

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐ˆ๐ง๐Ÿ๐จ:

Polaris Market Research
30 Wall Street, 8th Floor,
New York City, NY 10005,
United States
Phone:+1-929 297-9727
Email: sales@polarismarketresearch.com

๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ:

Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defence, among different ventures present globally.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Automotive Engineering Services Market is Estimated to Cross a Worth of 35.21 Billion & Expand at CAGR of 5.6% through 2032 here

News-ID: 3478759 • Views: โ€ฆ

More Releases from Polaris Market Research & Consulting

Population Health Management Market Predicted to Reach US$ 74.91 Billion by 2030 | CAGR: 13.5%
Population Health Management Market Predicted to Reach US$ 74.91 Billion by 2030 โ€ฆ
๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ: Population health management is a sub-branch of the healthcare industry that helps in tracking the wellbeing of patients across the global population. It aims to subjugate any risks or problems that might arise during the care of a patient in and out of healthcare settings. It is a solution centric approach to patient care, mitigating any obstacles that might arise during the health care of the patient. Population healthโ€ฆ
Bio-lubricants Market Growth to Hit US$ 3.05 Billion by 2030 with an Impressive CAGR: 4.1%
Bio-lubricants Market Growth to Hit US$ 3.05 Billion by 2030 with an Impressive โ€ฆ
๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ž๐Ÿ๐ข๐ง๐ข๐ญ๐ข๐จ๐ง: Bio-lubricants are lubricants sourced from renewable, biodegradable materials like vegetable oils, animal fats, or synthetic esters. Compared to conventional petroleum-based lubricants, bio-lubricants are eco-friendly and present lower toxicity and biodegradability, reducing environmental harm in the event of spills. Bio lubricants are frequently utilized in vehicles, industrial machines, and farming equipment. They offer efficient lubrication and foster sustainability while decreasing dependence on fossil fuels. They also help minimize wear andโ€ฆ
Advanced Lead Acid Battery Market Size to Grow to US$ 37.72 Billion by 2030 with a CAGR of 6.5%
Advanced Lead Acid Battery Market Size to Grow to US$ 37.72 Billion by 2030 with โ€ฆ
๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ž๐Ÿ๐ข๐ง๐ข๐ญ๐ข๐จ๐ง: An improved lead-acid battery is a rechargeable battery that enhances conventional lead-acid technology. It includes advancements like refined plate design, superior electrolyte formulation, and enhanced battery management systems to boost efficiency, lifespan, and performance. These batteries provide increased energy density, quicker charging periods, and enhanced reliability compared to traditional lead-acid batteries. They are frequently utilized in automotive, renewable energy storage, and backup power scenarios. ๐€๐๐ฏ๐š๐ง๐œ๐ž๐ ๐‹๐ž๐š๐ ๐€๐œ๐ข๐ ๐๐š๐ญ๐ญ๐ž๐ซ๐ฒ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ,โ€ฆ
Active Electronic Components Market Predicted to Hit US$ 708.54 Billion Growing at 6.9% CAGR Forecast by 2025-2034
Active Electronic Components Market Predicted to Hit US$ 708.54 Billion Growing โ€ฆ
๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ˆ๐ง๐ญ๐ซ๐จ๐๐ฎ๐œ๐ญ๐ข๐จ๐ง: Active electronic components are devices that require an external power source to work. They can amplify signals, control the flow of current, or switch the flow of electricity when active components are used in applications that require signal amplification, applications that require switching, and applications that require modulation. Active components require an external power source to operate. They can control the flow of electricity in a circuit, amplify signalsโ€ฆ

All 5 Releases


More Releases for Automotive

KSA Automotive Market | KSA Automotive Industry | KSA Automotive Industry Resear โ€ฆ
Saudi Arabiaโ€™s automotive market faced a decline in new car sales due to tripling of value-added tax (VAT) rates. Effective in July 1, 2020, Saudi Arabia hiked its VAT from 5% to 15%. Vision 2030 trying to attract foreign investment to kick start Dammam manufacturing city to aid re-exports & fulfill domestic demand Surge in Domestic Manufacturing to gain independence of Imports: With Vision 2030, KSA is trying to gain impendence ofโ€ฆ
Automotive Fuel Injectors Market: Growing Automotive Sales Fueling Automotive Fu โ€ฆ
Automotive fuel injectors marketย is likely to grow at a steady pace in the long run, according to a new report by Fact.MR. The demand for automotive fuel injectors continues to remain influenced with a multitude of industry-specific and macroeconomic factors. Significant growth in the automotive sector, coupled with increasing vehicle fleet remain instrumental in driving the demand for automotive fuel injectors worldwide. Fact.MR estimates that theย salesย of automotive fuel injectors areย expectedโ€ฆ
Automotive Gearbox Market,Automotive Gearbox Industry, Global Automotive Gearbox โ€ฆ
Latest industry research report on: Global Automotive Gearbox Market : Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts This industry study presents the global Automotive Gearbox market size, historical breakdown data (2013-2018) and forecast (2018-2025). The Automotive Gearbox production, revenue and market share by manufacturers, key regions and type; The consumption of Automotive Gearbox in volume terms are also provided for major countries (or regions), and for eachโ€ฆ
Automotive Windscreen Sales Market โ€“ Analysis of Automotive Windscreen Sales G โ€ฆ
Automotive Windscreen Market report provides an in detail study of Manufactures in the market which is based on the various objectives associated with an organization such as Analysis, Market Share, Regional Market Performance, Product Specification, and the Company Introduction. The latest market intelligence study on Automotive Windscreen Sales market relies on statistics derived from the application of both primary and secondary research to present insights pertaining to the operational model, opportunitiesโ€ฆ
Global Automotive Windshield Pumps Market 2018- SHW AG, TRW Automotive, Delphi A โ€ฆ
Apex Market Reports, recently published a detailed market research study focused on the "Global Automotive Windshield Pumps Market" across the global, regional and country level. The report provides 360ยฐ analysis of "Global Automotive Windshield Pumps Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the Global Automotive Windshield Pumps industry, and estimates the futureโ€ฆ
Automotive Steering System Market Players: Mitsubishi Electric, TRW Automotive H โ€ฆ
Automotive steering system market is expected to grow with the CAGR of about 6% from 2016 to 2022. Due to increasing demand for the driving comfort & fuel efficient vehicle as well as increasing vehicle production globally will drive the Automotive steering system market. Market Scenario Steering is the connection point between car and driver. It provides control and the feel of the road and plays a key role in the vehicleโ€™sโ€ฆ