Press release
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.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/industry-analysis/automotive-engineering-services-market/request-for-sample
๐๐ซ๐จ๐ฆ๐ข๐ง๐๐ง๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
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.
๐๐ฆ๐จ๐ง๐ ๐ญ๐ก๐ ๐ค๐๐ฒ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ฉ๐๐ซ๐ญ๐ข๐๐ข๐ฉ๐๐ง๐ญ๐ฌ ๐ข๐ง๐๐ฅ๐ฎ๐๐:
โข Capgemini
โข IAV Automotive Engineering
โข Bertrandt AG
โข L&T Technology Services
โข ALTRAN
โข Ricardo
โข Continental AG
โข EDAG Engineering GmbH
โข Semcon
โข Tech Mahindra
โข AKKA Technologies and HCL Technologies
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/buy/2236/2
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ
โข The market is primarily segmented based on vehicle type, location, application, service, propulsion, nature type, and region.
โข By application analysis, the electrical, electronics, and body controls segment dominated the market owing to the increased demand for sophisticated electrical system architecture.
โข 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.
๐๐๐ซ๐ค๐๐ญ ๐๐ง๐ญ๐ซ๐จ๐๐ฎ๐๐ญ๐ข๐จ๐ง
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.
๐๐ฅ๐ข๐๐ค ๐ก๐๐ซ๐ ๐ญ๐จ ๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/industry-analysis/automotive-engineering-services-market
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ
โข North America (U.S., Canada)
โข Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
โข Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
โข Latin America (Brazil, Mexico, Argentina)
โข Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ง๐ ๐ข๐ง๐๐๐ซ๐ข๐ง๐ ๐๐๐ซ๐ฏ๐ข๐๐๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ
โข 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
โข 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.
โข 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.
โข Prominent players include Altran Technologies, IAV GmBH, L&T Technology Services Limited and AKKA Technologies.
๐๐ข๐ฌ๐๐จ๐ฏ๐๐ซ ๐๐๐๐ข๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ฒ ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ข๐ง๐ ๐๐๐ฅ๐๐ญ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
๐๐จ๐จ๐๐ฐ๐จ๐ซ๐ค๐ข๐ง๐ ๐๐๐๐ก๐ข๐ง๐๐ซ๐ฒ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/woodworking-machinery-market
๐๐จ๐ญ๐จ๐ซ ๐๐ซ๐๐๐๐ซ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/motor-grader-market
๐๐๐ญ๐๐ฅ๐ฅ๐ข๐ญ๐ ๐๐ซ๐จ๐ฎ๐ง๐ ๐๐ญ๐๐ญ๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/satellite-ground-station-market
๐ ๐ข๐ซ๐ ๐๐ซ๐ฎ๐๐ค๐ฌ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/fire-trucks-market
๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐๐ซ๐ญ๐ฆ๐๐ง๐ญ ๐๐ฑ๐ฉ๐ฅ๐จ๐ฌ๐ข๐ฏ๐๐ฌ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/research-department-explosives-market
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ง๐๐จ:
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Email: sales@polarismarketresearch.com
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
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.
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