The Business Research Company’s report on the Automotive Engineering Services Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How have key drivers contributed to the rapid growth of the automotive engineering services market?
The rising demand for emission-less transportation is expected to propel the growth of the automotive engineering services market. The usage of fossil fuels like diesel and gasoline releases greenhouse gases such as carbon dioxide, methane, hydrofluorocarbons, and nitrous oxide into the atmosphere, resulting in changes to the climate and thus increasing demand for emission-less transport mediums such as electric vehicles. For instance, in January 2024, according to Department for Transport, a UK-based government department, reported that 80% of new cars and 70% of new vans sold in Great Britain will now be zero emission by 2030, increasing to 100% by 2035. The demand for emission-less transportation, coupled with increased awareness of emission-less transportation, is expected to propel the automotive engineering services market
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How has the automotive engineering services market size evolved, and what are the latest forecasts for its expansion?
The automotive engineering services market size has grown rapidly in recent years. It will grow from $266.62 billion in 2024 to $294.7 billion in 2025 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to globalization of automotive industry, increased complexity of vehicle systems, emphasis on fuel efficiency and emissions reduction, growth in automotive electronics and software, demand for innovative vehicle designs and features.
The automotive engineering services market size is expected to see rapid growth in the next few years. It will grow to $439.65 billion in 2029 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to rise of electric and autonomous vehicles, accelerated adoption of connected car technologies, increasing focus on sustainability and green engineering, integration of advanced driver-assistance systems (ADAS), demand for personalized and user-centric automotive experiences. Major trends in the forecast period include use of advanced technology, embrace of digital twin technology for simulation and testing, collaboration for research and development in autonomous driving, growing importance of cybersecurity in automotive engineering, use of artificial intelligence in design optimization and manufacturing.
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Which major companies dominate the automotive engineering services market?
Major companies operating in the automotive engineering services market include Capgemini SE, IAV GmbH, Tech Mahindra Limited, AKKA Technologies Group, Bertrandt AG, Harman International Industries Inc., ALTEN Cresttek Engineering Solutions Pvt Ltd., L&T Technology Services Ltd., Fev Europe GmbH, AVL List GmbH, Ricardo plc, EDAG Engineering GmbH, Valmet Automotive Oyj, Onward Technologies Ltd., T-Net Japan Co. Ltd., Kistler Holding AG, Continental AG, semcon engineering uk limited, Robert Bosch GmbH, Altran India Pvt. Ltd., Tata Technologies Ltd., Altair Engineering Inc., HORIBA Ltd, MBtech Group GmbH, P3 Automotive GmbH, ASAP Holding GmbH, Link Engineering Company, Ansys Inc., EPAM Systems Inc., GlobalLogic, Hunter Engineering Company
What trends will shape the future of the automotive engine oil market?
Major companies operating in the automotive engineering services market are developing technologically advanced solutions, such as parking development solutions, to enhance efficiency, maximize space utilization, and improve user experience. A parking development solution is a comprehensive system designed to optimize the planning, construction, and management of parking facilities, improving space utilization, traffic flow, and user convenience in urban or commercial environments. For instance, in March 2024, Applied Intuition, a US-based software company, launched automated parking development solution for advanced driver-assistance systems (ADAS) and automated driving (AD). The solution will allow ADAS and AD development teams to develop, test, and deploy ML-based or classical automated parking systems (APS) up to 12 times faster with improved safety and reliability.
Which region dominates the automotive engineering services market, and what factors contribute to its leadership?
Asia-Pacific was the largest region in the automotive engineering services market in 2024. The regions covered in the automotive engineering services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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How is the automotive engineering services market segmented, and which segment holds the largest share?
The automotive engineering services market covered in this report is segmented –
1) By Vehicle Type: Passenger Cars, Commercial Vehicles
2) By Service Type: Concept Or Research, Designing, Prototyping, System Integration, Testing
3) By Location Type: On-Shore, Off-Shore
4) By Application: Electrical, Electronics and Body Controls, ADAS and Safety, Chassis, Connectivity Services, Powertrain and Exhaust, Interior, Exterior, and Body Engineering, Simulation
Subsegments:
1) By Passenger Cars: Compact Cars, Sedans, SUVs (Sport Utility Vehicles), Hatchbacks, Luxury Cars
2) By Commercial Vehicles: Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), Buses, Trucks, Vans
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What defines the structure and scope of the automotive engineering services market?
Automotive engineering services refer to design services that optimize the manufacturing process to improve the overall operational efficiency of the vehicle. Automotive engineering services offer advanced and innovative features in comfort, infotainment, and safety through the integration of advanced electronics into vehicles.
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