Global Automotive Engineering Market – Industry Trends and Forecast to 2029

Market Analysis and Insights : Global Automotive Engineering Market

Data Bridge Market Research analyses that the automotive engineering market would exhibit a CAGR of 28.03% for the forecast period of 2022-2029.

Automotive engineering refers to engineering services and solutions for various parts of cars, such as mechanical, safety, software, electrical, and electronics engineering services and solutions for land, air, and marine applications. These technical solutions are utilised to optimise the production process in order to improve the company's operational cycle without sacrificing the vehicle's quality.

The market is growing due to increased awareness and demand for technological solutions in automotive, such as connection and collision avoidance sensors, among other things. The automotive engineering services market is being driven by rising requirements for lightweight vehicles as the government and manufacturers focus on designing and developing lightweight vehicles to make vehicles more fuel-efficient, as well as rising requirements for safety-related systems as a result of government regulations. In addition, as the usage of electric and hybrid vehicles grows, so does the production of these vehicles, which is likely to drive market expansion over the forecast period.

However, concerns about intellectual property rights and patent rights for developers and owners are one aspect that is impeding the market's expansion. The market's growth is also being hampered by manufacturers' constant shifts in business models to design solutions in-house.

This automotive engineering market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on automotive engineering market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Automotive Engineering Market Scope and Market Size

The automotive engineering market is segmented on the basis of application type, location type, vehicle type and propulsion type. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.

• On the basis of application type, the automotive engineering market has been segmented into Designing, Prototyping, System Integration, and Testing
• On the basis of location type, the automotive engineering market is segmented into On-shore and Off-shore
• On the basis of vehicle type, the automotive engineering market is segmented into Passenger Vehicle and Commercial Vehicle
• On the basis of propulsion type, the automotive engineering market is segmented into IC engine, Hybrid Vehicles, and Electric Vehicles

Automotive Engineering Market Country Level Analysis

The global automotive engineering market is analysed and market size insights and trends are provided by country, application type, location type, vehicle type and propulsion type as referenced above.

The countries covered in the automotive engineering market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

Increased demand for low-emission vehicles is forcing OEMs to redesign and create new powertrain, thermal, and exhaust systems, and Europe is expected to grow and lead the market over the projection period. Germany has the largest market for automotive engineering services in Europe, thanks to the presence of major automakers such as Continental AG and Robert Bosch GmbH.

The country section of the automotive engineering market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

Competitive Landscape and Automotive Engineering Market Share Analysis

The automotive engineering market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive engineering market.

Some of the major players operating in the automotive engineering market are HARMAN International, Capgemini, AVL, Bertrandt, ALTEN, Valmet Automotive, L&T Technology Services Limited, FEV Europe GmbH, AKKA, HCL Technologies Limited, IAV, ALTRAN, Ricardo, Tech Mahindra Limited, Onward Technologies Ltd., T-NET JAPAN Co., Ltd., Kistler Group, Continental AG, EDAG Engineering GmbH, ESI Group, Semcon, GlobalLogic, EPAM Systems, Inc., Belcan and Robert Bosch GmbH among others.

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