Automotive engineering

Automotive Engineering Services Market Size Will Reach US Dollar

London, March 25, 2022 (GLOBE NEWSWIRE) — The world Automotive Engineering Services Market Size was estimated to be worth US$170.25 billion in 2021. The automotive engineering services market is expected to be driven by growing technological proficiency of engineering service providers to offer research and development and product innovation in their solutions for connected automobiles, vehicle positioning and guidance systems. . In addition, the overall growth of the automotive engineering services market is expected to benefit from the rapid shift of original equipment manufacturers towards digital solutions over mechanical and main support.

However, due to the depth and complexity of powertrain, transmission, and engine designs, manufacturers prefer to design these components in-house rather than outsourcing them to engineering service providers.

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In addition, the growing issues of intellectual property and design exposure are prompting original equipment manufacturers to establish their own manufacturing facilities. As a result, the growth of the automotive engineering services market is expected to be hampered by the growing emphasis of manufacturers on in-house design production.

Automotive Engineering Services Market Scope

Report attributes Details
Market size by 2029 $330.48 billion
Year of reference 2021
Forecast data 2022 to 2030
Biggest earner Europe
Fastest growing region APAC
Companies covered Tech Mahindra Limited, IAV Automotive Engineering, L&T Technology Services, HCL Technologies, Fev Europe GmbH, Harman International Industries Inc., AltenCresttek Company, Akka Technologies, Capgemini SE, Bertrandt AG

Report Highlights

  • On the basis of service, the prototyping segment is the fastest growing segment in the global automotive engineering services market. Shorter manufacturing times and lower production costs are achieved through prototyping approaches, as are easier product innovation and supply chain transformation as well as cleaner, safer and more efficient part designs. lighter.
  • Europe is the largest automotive engineering services market segment in terms of region. Europe is home to one of the largest car manufacturing centers in the world and car manufacturers represent a significant part of the European economy. The government provides subsidies and encourages the availability of energy-efficient automobiles, which has led to an increase in the demand for electric vehicles.
  • Asia-Pacific is the fastest growing region in the automotive engineering services market. Many governments in the region intend to replace their current public fleets with electric vehicles. The rapid expansion of the logistics sector is also driving the demand for commercial electric automobiles, which in turn is driving the demand for automotive engineering services.

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Market dynamics

Drivers: Standardization of safety devices

Several governments around the world have imposed safety features in new vehicles to reduce speeding and fatal accidents. Advanced safety features include advanced emergency braking, emergency lane keeping systems and enhanced crash testing. All of these requirements are essential to overall road safety. To improve passenger safety, car manufacturers must comply with the new regulations. Over the next few years, all of these mandates will have a significant impact on vehicle safety. Initiatives by OEMs to implement these features early will result in strong demand for engineering service providers to deliver these solutions.

Constraints

Ssecurity threats

Automotive engineering services play an important role in advanced vehicle driver assistance system technologies. The majority of advanced safety features of driver assistance systems include sensors such as radars, ultrasonic sensors, cameras, infrared, and various actuators. The precision of the safety techniques could endanger the safety of the occupants. Thus, safety is very important for the occupant. Hence, this factor might hinder the growth of the global automotive engineering services market during the forecast period.

Opportunities

Increase in sales of electric vehicles

The global electric vehicle industry is booming. Electric vehicles, like any transformative disruptive technology, enable many influential new economic developments, challenges and opportunities. Global sales of electric vehicles are driven by the increase in vehicle range, the increased availability of charging infrastructure and the proactive participation of automotive OEMs. Additionally, the growing sensitivity of various governments towards a cleaner environment has increased the demand for zero-emission vehicles, which is supporting the growth of the electric vehicle market. Developed countries are actively promoting the use of electric vehicles to reduce emissions, which has led to an increase in electric vehicle sales. Accordingly, rising electric vehicle sales are creating lucrative opportunities for the growth of the automotive engineering services market.

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Challenges

Intellectual property rights

Outsourcing is now widely used by OEMs and system integrators in the automotive industry. A typical engineering service begins with research and progresses through the design and testing phases before reaching the final stage of production. In some cases, the original equipment manufacturer owns the intellectual property of the new technology or new processes developed throughout the process. However, service providers may work with multiple original equipment manufacturers for similar requirements or specifications, with the limitation of using existing technology patented by various original equipment manufacturers. Therefore, service providers should exercise extreme caution regarding intellectual property infringement laws. Intellectual property laws prohibit service providers from repeatedly using the same technology, which may limit the use of their engineering service technology.

Marlet Segmentation

By location

By department

  • Design
  • Prototyping
  • Integration system
  • Test
  • Others

By request

  • Autonomous driving
  • Body and chassis
  • Powertrain and Aftertreatment
  • Infotainment and Connectivity
  • Others

By type of vehicle

  • Particular Cars
  • Commercial vehicles

By nature

By geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)

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