Global Automotive Engineering Service Provider Market, By Module Type (Intelligent Power Module (IPM), Power Integrated Module (PIM)), Vehicle Type (Passenger Cars, Commercial Vehicle, Two Wheeler), Services (Engine, Transmission, Chassis, Car and BIW, Cooling and HVAC, Interior and Exterior Trims, Seating Systems, Other), Application (Mechanical, Software, Electrical and Electronics, Safety) – Industry Trends and Forecast to 2029
Market Analysis and Size
The engineering service provider provides various engineering solutions to various industries, one of which is automotive. Engineering solutions are available for a variety of elements such as mechanical, electrical, electronics, software, and others. These elements are used in a variety of automotive applications. Automotive engineering solutions assist OEMs and their suppliers in digitising the product value chain, lowering product development costs and shortening time to market. Vehicle engineering, vehicle electronics, manufacturing IT, and product lifecycle management are examples of automotive engineering solutions (PLM).
Data Bridge Market Research analyses that the Automotive Engineering Service Provider market was valued at USD 7.45 billion in 2021 and is likely to reach USD 12.24 billion by 2029, and is expected to grow at a CAGR of 6.40% during the forecast period. Data Bridge Market Research report on automotive engineering service provider market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
Market Definition
Automotive engineering is a subset of vehicle engineering that encompasses electrical, mechanical, software, electronics, and advanced safety features. Automobile and commercial vehicle engineering services are used in the design, development, manufacturing, and operation of automobiles and commercial vehicles. Furthermore, these services are aimed at improving the manufacturing process and preserving vehicle economy.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Module Type (Intelligent Power Module (IPM), Power Integrated Module (PIM)), Vehicle Type (Passenger Cars, Commercial Vehicle, Two Wheeler), Services (Engine, Transmission, Chassis, Car and BIW, Cooling and HVAC, Interior and Exterior Trims, Seating Systems, Other), Application (Mechanical, Software, Electrical and Electronics, Safety)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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CONTINENTAL ENGINEERING SERVICES (U.S), Robert Bosch GmbH (GERMANY), AVL (China), Bertrandt AG (France), EDAG Engineering GmbH (GERMANY), HARMAN International. (U.S), IAV (Brazil), IPROMPT AUTO TECH PVT LTD (Italy), Magna International Inc. (U.S), Contechs (RUSSIA), AKKA (Japan), Capgemini. (U.S), HCL Technologies Limited (INDIA), Ricardo. (France), Tech Mahindra Limited (India)
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Market Opportunities
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Automotive Engineering Service Provider Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Growth in infrastructural activities as well as rising preference for electric vehicle
Rising preference for electric vehicles, adoption of emission standards, rising trend of vehicle electrification and digitization will likely boost the growth of the automotive engineering service provider market.
- High demand for advanced connectivity solutions.
Automotive OEMs and Tier 1 partners have poured millions of dollars into developing next-generation connected vehicles. In premium sedans and SUVs, IoT devices, ultrasonic sensors, and high-definition cameras are common. All of these elements combine to form an eco-system that can communicate with the outside world and exchange data to improve the in-car experience. An on-board computer processes the data to provide features such as smooth navigation and personalised infotainment systems. The data can also be used to analyse the vehicle's condition/health in order to schedule maintenance, which can help to avoid unexpected engine failures.
Restraints
- Design complexities as well as high service cost will pose a major threat to market growth.
Design complexities, as well as high service costs and a lack of standard protocols, are acting as market restraints for automotive engineering service providers during the forecasted period. Concerns about intellectual property and patent rights for developers and owners are one factor impeding market growth. Manufacturers' constant shifts in business models to design solutions in-house also stifle market growth. Standardization of safety features could be a great opportunity for this company.
Opportunities
The improving economy along with rapid development of autonomous and semi-autonomous vehicles will cater various opportunities for the growth of the automotive engineering service provider market in the above mentioned forecast period.
This automotive engineering service provider market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized 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 the automotive engineering service provider market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Automotive Engineering Service Provider Market
The COVID-19 outbreak has had a global impact on many industries. Many countries imposed a complete lockdown for several months due to the COVID-19 pandemic, which hampered vehicle production. Vehicle sales have suffered as a result of the closure of manufacturing plants around the world. The pandemic had a minor impact on the automotive engineering services market. Most automakers, however, have resumed vehicle production with limited capacity and safety measures in place. The market is expected to expand positively during the forecast period as economies slowly recover from the pandemic.
Global Automotive Engineering Service Provider Market Scope
The automotive engineering service provider market is segmented on the basis of module type, vehicle type, services, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Module type
- Intelligent Power Module (IPM)
- Power Integrated Module (PIM)
Vehicle Type
- Passenger Cars
- Commercial Vehicle
- Two Wheeler
Services
- Engine
- Transmission
- Chassis
- Car and BIW
- Cooling and HVAC
- Interior and Exterior Trims
- Seating Systems
- Other
Application
- Mechanical
- Software
- Electrical and Electronics
- Safety
Automotive Engineering Service Provider Market Regional Analysis/Insights
The automotive engineering service provider market is analyzed and market size insights and trends are provided by country, module type, vehicle type, services, and application as referenced above.
The countries covered in the automotive engineering service provider market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific will dominate the automotive engineering service provider market due to the region's improved infrastructure and rising preferences for electric vehicles, which will aid in the sale of electric vehicles and the adoption of advanced technology such as artificial intelligence, internet of things, and others. Japan accounts for the largest share of the automotive engineering service provider market in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Engineering Service Provider Market Share Analysis
The automotive engineering service provider 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 service provider market.
Some of the major players operating in the automotive engineering service provider market are:
- CONTINENTAL ENGINEERING SERVICES (U.S)
- Robert Bosch GmbH (GERMANY)
- AVL (CHINA)
- Bertrandt AG (FRANCE)
- EDAG Engineering GmbH (GERMANY)
- HARMAN International. (U.S)
- IAV (BRAZIL)
- IPROMPT AUTO TECH PVT LTD (ITALY)
- Magna International Inc. (U.S)
- Contechs (RUSSIA)
- AKKA (JAPAN)
- Capgemini. (U.S)
- HCL Technologies Limited(INDIA)
- Ricardo. (FRANCE)
- Tech Mahindra Limited.(INDIA)
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