Automotive Engineering Services Market

Automotive Engineering Services Market worth $253.9 billion by 2027

The report "Automotive Engineering Services Market by Application (ADAS & Safety, Body Electrical & Electronics, Chassis, Connectivity, Interior/Exterior, Powertrain & Exhaust, Battery, Motor, Charger Test, Simulation), Service, Location & Vehicle - Forecast to 2027", is projected to grow at a CAGR of 8.8% from USD  153.3 billion in 2021 to USD  253.9 billion by 2027. The growth of the automotive engineering services market is driven by the rising sales of electric vehicles, increasing R&D investments in the automotive industry, the advent of autonomous vehicles, and the high implementation of connectivity services.

Browse 140 market data Tables and 70 Figures spread through 271 Pages and in-depth TOC on "Automotive Engineering Services Market by Application (ADAS & Safety, Body Electrical & Electronics, Chassis, Connectivity, Interior/Exterior, Powertrain & Exhaust, Battery, Motor, Charger Test, Simulation), Service, Location & Vehicle - Forecast to 2027"
View detailed Table of Content here -

Europe is expected to be the largest automotive engineering services market in the forecast

Europe is estimated to account for a share of 43.0% of the global market in 2021, and the market in this region is projected to register a CAGR of 8.9% during the forecast period.

For the market analysis, Europe includes Germany, France, Spain, the UK, Italy, Russia, and the Rest of Europe. The presence of OEMs such as VDL Groep (Netherlands) and AB Volvo (Sweden) offers growth opportunities for the market in the region. European automotive enterprises dominate the global landscape, accounting for almost 50% of the R&D spending led by firms such as BMW, Continental, and Daimler. The increasingly stringent regulations related to environmental issues are encouraging market players to test and develop advanced vehicles, further boosting the market for automotive engineering services. For example, in March 2017, L&T Technology Services unveiled a new delivery center for a German OEM in Munich. The center would cater to engineering and R&D services for the company’s suite of infotainment consoles and its family of hybrid electric vehicles. In October 2018, Siemens Mobility launched a field test for autonomous driving at the Siemens campus in Munich-Perlach, Germany, in partnership with IAV GmbH (IAV Automotive Engineering), Institute for Climate Protection, Energy and Mobility (IKEM), Emm Solutions GmbH, UTB Projektmanagement GmbH, and the Technical University of Munich (TUM). The project was established for testing the interaction between roadside infrastructure, cloud-based software services, and autonomous electric vehicles.

Electrical, electronics, and body controls is expected to lead the automotive engineering services market

Automotive electrical, electronics, and body controls have a high value-added proportion in vehicle development.  Electronics and electrical systems play a crucial role in handling all functions dedicated to passenger comfort and convenience. Services in automotive electrical and electronics include power management module, climate control, power window, body control module, and smart mirror and wipers. The trend is expected to grow due to the adoption of electric vehicles and complex electronic components for a safer and functional driving experience. Service providers such as L&T Technology Services and FEV have invested huge resources to develop electrical, electronics, and body control solutions in automotive engineering services.

Designing segment is expected to be the fastest service type in the forecast

The design process is used in the final sketching of the product. The 2D rendering process is crucial to visualize whether the design is feasible or not. Once the design seems practical and feasible, computer-aided design (CAD) is used to make a 3D model. Clay modeling then helps achieve a physical model of the design. The designing of the car can either be done by the internal team of automotive manufacturers or the manufacturer can outsource it.

The automotive engineering services market is dominated by global players such as Capgemini (France), IAV Automotive Engineering (Germany), Tech Mahindra (India), AKKA Technologies (Belgium), and Bertrandt AG (Germany). The key strategies adopted by these companies to sustain their market position are new product developments, mergers & acquisitions, supply contracts, partnerships, expansions, collaborations, acquisitions, and contracts & agreements.

Don’t miss out on business opportunities in Automotive Engineering Services Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Automotive Engineering Services Market Size,  Share & Growth Report
Report Code
AT 7228
PR Published ON
Choose License Type

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2022 MarketsandMarkets Research Private Ltd. All rights reserved Protection Status

Digital Virtual Assistant - MarketsandMarkets