Automotive engineering service providers generally offers engineering solutions to several elements and the entire automotive industry value chain. They comprise fabricating, design, development, and testing of elements such as, electrical, mechanical, software, electronics, and safety. They also incorporate services required at every stage of the product lifecycle, right from conceptualization to production.
Market by Top Automotive Engineering Service Companies, this report covers
L&T Technology Services
Surging electrification and vehicle digitization are considered to major factors likely to encourage the automotive engineering service market over the assessment period. Also, the constant development of autonomous vehicles is estimated to propel the market growth of automotive engineering service during the estimated timeframe. Growing demand for connectivity offerings in the automotive sector is further augmenting the market growth across the globe. Moreover, growing focus of the government as well as the manufacturers on the development of safe and lightweight vehicle design will create new doors f opportunities for the automotive engineering service market during the estimated timeframe. Additionally, rising preference of electric vehicles along with their production will bolster the market growth worldwide.
On the contrary, surging cost pressure on OEMs are predicted to pose a major threat to the growth of the global automotive engineering service market during the assessment period.
The global automotive engineering service market has been segmented on the basis of type and application.
By type, the automotive engineering service market is segmented into in-house automotive engineering service and outsourced automotive engineering service. Of these, the in-house services are likely to gain prominence. Chief OEMs keep complex automotive engineering services such as, powertrain design, engine design, and transmission systems for in-house development. The optimizations and designs differ from one OEM to another and need different specialization which can be done in-house in order to obtain better results.
The application segment of the automotive engineering service market comprises commercial vehicles and passenger cars.
Geographically, the automotive engineering service market spans across Europe, North America, and the Asia Pacific.
Considering the global scenario, Europe is estimated to command the largest share across the globe. The surging consumer demand for low emission and refined vehicles has compelled OEMs to redesign the exhaust systems and powertrain. OEMs in the region have planned to launch electric variants to their existing models, which has further propelled the demand for automotive engineering services. Moreover, Germany is likely to emerge as a prominent region in the global automotive engineering service market. The nation is home to several key car manufacturers such as, Daimler, Volkswagen, Continental,
Bosch, and others, which has bolstered the market growth in the region.
Additionally, the rising demand for connected cars is likely to increase in the premium segment. With the automotive industry accounting for more than one-third of the total R&D investments, the regional market is estimated to propel in the coming years.
Asia Pacific, on the other hand, is likely to attain massive gains in the coming years, mainly due to the presence of key software design companies, which has positively impacted the market growth, especially in countries like India.
Table of Contents –Analysis of Key Points
1 Market Overview
2 Manufacturers Profiles
3 Global Automotive Engineering Service Sales, Revenue, Market Share and Competition by Manufacturer (2017-2018)
4 Global Automotive Engineering Service Market Analysis by Regions
5 North America Automotive Engineering Service by Country
6 Europe Automotive Engineering Service by Country
7 Asia-Pacific Automotive Engineering Service by Country
8 South America Automotive Engineering Service by Country
9 Middle East and Africa Automotive Engineering Service by Countries
10 Global Automotive Engineering Service Market Segment by Type
11 Global Automotive Engineering Service Market Segment by Application
12 Automotive Engineering Service Market Forecast (2019-2025)
13 Sales Channel, Distributors, Traders and Dealers
14 Research Findings and Conclusion
List of Tables and Figures
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