Market Overview:
The global automotive engineering service market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for passenger cars and commercial vehicles, and the growing need for advanced automotive engineering services. The global automotive engineering service market is segmented on the basis of type into outsourced automotive engineering service and in-house automotive engineering service. The outsourced automotive engineering services segment is expected to grow at a higher CAGR than the in-house automotive engineering services segment during the forecast period from 2018 to 2030. This can be attributed to the growing trend of outsourcing various functions by Original Equipment Manufacturers (OEMs) in order to reduce costs and focus on their core competencies.
Product Definition:
The term automotive engineering service refers to the professional engineering services that are used to design, develop, test and manufacture automobiles. The importance of automotive engineering services is that they help to ensure that automobiles are safe and reliable.
Outsourced Automotive Engineering Service:
Outsourced automotive engineering service is the part of professional services that allows companies to outsource their core competencies in various fields such as mechanical, electrical and electronics, software design and testing, etc. The growth factor in this market is increasing outsourcing trend for cost-saving purposes by OEMs (automobile manufacturers).
The global Outsourced Automotive Engineering Service market size was valued at USD 28.5 billion in 2015.
In-house Automotive Engineering Service:
In-house automotive engineering service is a type of project management service that supports the OEM in managing its projects within the organization. It helps to streamline work processes, improve quality and productivity while reducing cost and time. The main objective of these services is to provide high value with low risk which leads to an optimal return on investment for the client company.
Application Insights:
The passenger car application segment accounted for the largest revenue share of over 60% in 2017. The demand for passenger cars is generally higher in urban areas as compared to rural areas. Moreover, consumer preference is shifting towards mid-sized cars with enhanced features as compared to compact or basic feature-based cars. This trend is expected to continue over the forecast period, thereby driving the demand for automotive engineering services across regions.
Commercial vehicle application segment was estimated at USD 3,233.6 million in 2017 and is projected to grow at a CAGR of XX% from 2018 to 2030 owing to increasing utilization of commercial vehicles such as trucks, buses and coaches by companies providing goods/services on a contract basis or on an irregular basis throughout the year under various contracts with different carriers including road haulage firms and logistics companies among others.
Regional Analysis:
Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The growth of this region can be attributed to increasing production and sales of passenger cars and commercial vehicles in countries, such as China, India, Japan, South Korea & Taiwan. In addition, rising disposable income levels in emerging economies are anticipated to promote automobile demand over the coming years.
The European region accounted for a significant share owing to stringent regulations by various regulatory bodies pertaining to automotive safety standards. Europe has been at the forefront of promoting vehicle safety through technological innovations across all categories of vehicles including heavy commercial vehicles (HCVs), light commercial Vehicles (LCVs) and passenger cars among others since decades now which is also likely contribute towards future industry growth in this region.
The North American regional market captured a revenue share exceeding 20% in 2017 owing to growing emphasis on fuel economy with every new car launch from manufacturers based within U.S.
Growth Factors:
- Increasing demand for automotive engineering services from the developing countries owing to the growth of the automotive industry in these regions.
- Rising demand for lightweight vehicles to reduce fuel consumption and emissions, which is expected to drive the need for advanced engineering services.
- Growing popularity of electric and hybrid vehicles, which require sophisticated engineering solutions.
- Proliferation of autonomous and connected cars, which are increasing the complexity of automotive systems and driving up demand for advanced engineering services.
Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive Engineering Service Market Research Report
By Type
Outsourced Automotive Engineering Service, In-house Automotive Engineering Service
By Application
Passenger Car, Commercial Vehicle
By Companies
FEV Group, IAV, Ricardo, ALTEN Group, Bertrandt, ALTRAN, L&T Technology Services
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
164
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global Automotive Engineering Service Market Report Segments:
The global Automotive Engineering Service market is segmented on the basis of:
Types
Outsourced Automotive Engineering Service, In-house Automotive Engineering Service
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Car, Commercial Vehicle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- FEV Group
- IAV
- Ricardo
- ALTEN Group
- Bertrandt
- ALTRAN
- L&T Technology Services
Highlights of The Automotive Engineering Service Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Outsourced Automotive Engineering Service
- In-house Automotive Engineering Service
- By Application:
- Passenger Car
- Commercial Vehicle
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Automotive Engineering Service Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Automotive engineering service is a type of professional engineering service that provides technical assistance and support to automotive manufacturers. Automotive engineers typically work with design teams, manufacturing plants, and other suppliers to help create new vehicles or improve existing ones. They may also work on safety issues or develop new technologies for the automotive industry.
Some of the major companies in the automotive engineering service market are FEV Group, IAV, Ricardo, ALTEN Group, Bertrandt, ALTRAN, L&T Technology Services.
The automotive engineering service market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Automotive Engineering Service Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Automotive Engineering Service Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Automotive Engineering Service Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Automotive Engineering Service Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Automotive Engineering Service Market Size & Forecast, 2018-2028
4.5.1 Automotive Engineering Service Market Size and Y-o-Y Growth
4.5.2 Automotive Engineering Service Market Absolute $ Opportunity
Chapter 5 Global Automotive Engineering Service Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Automotive Engineering Service Market Size Forecast by Type
5.2.1 Outsourced Automotive Engineering Service
5.2.2 In-house Automotive Engineering Service
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Automotive Engineering Service Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Automotive Engineering Service Market Size Forecast by Applications
6.2.1 Passenger Car
6.2.2 Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Automotive Engineering Service Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Automotive Engineering Service Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Automotive Engineering Service Analysis and Forecast
9.1 Introduction
9.2 North America Automotive Engineering Service Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Automotive Engineering Service Market Size Forecast by Type
9.6.1 Outsourced Automotive Engineering Service
9.6.2 In-house Automotive Engineering Service
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Automotive Engineering Service Market Size Forecast by Applications
9.10.1 Passenger Car
9.10.2 Commercial Vehicle
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Automotive Engineering Service Analysis and Forecast
10.1 Introduction
10.2 Europe Automotive Engineering Service Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Automotive Engineering Service Market Size Forecast by Type
10.6.1 Outsourced Automotive Engineering Service
10.6.2 In-house Automotive Engineering Service
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Automotive Engineering Service Market Size Forecast by Applications
10.10.1 Passenger Car
10.10.2 Commercial Vehicle
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Automotive Engineering Service Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Automotive Engineering Service Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Automotive Engineering Service Market Size Forecast by Type
11.6.1 Outsourced Automotive Engineering Service
11.6.2 In-house Automotive Engineering Service
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Automotive Engineering Service Market Size Forecast by Applications
11.10.1 Passenger Car
11.10.2 Commercial Vehicle
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Automotive Engineering Service Analysis and Forecast
12.1 Introduction
12.2 Latin America Automotive Engineering Service Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Automotive Engineering Service Market Size Forecast by Type
12.6.1 Outsourced Automotive Engineering Service
12.6.2 In-house Automotive Engineering Service
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Automotive Engineering Service Market Size Forecast by Applications
12.10.1 Passenger Car
12.10.2 Commercial Vehicle
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Automotive Engineering Service Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Automotive Engineering Service Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Automotive Engineering Service Market Size Forecast by Type
13.6.1 Outsourced Automotive Engineering Service
13.6.2 In-house Automotive Engineering Service
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Automotive Engineering Service Market Size Forecast by Applications
13.10.1 Passenger Car
13.10.2 Commercial Vehicle
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Automotive Engineering Service Market: Competitive Dashboard
14.2 Global Automotive Engineering Service Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 FEV Group
14.3.2 IAV
14.3.3 Ricardo
14.3.4 ALTEN Group
14.3.5 Bertrandt
14.3.6 ALTRAN
14.3.7 L&T Technology Services
