Automotive Engineering Services Outsourcing (ESO) Market Report 2022: Asia Pacific Remains The Most Attractive Business Destination for Service Providers – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Automotive Engineering Services Outsourcing (ESO) Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030” report has been added to ResearchAndMarkets.com’s offering.

The global automotive engineering services outsourcing market was valued US$ 50.28 Bn in 2020 and is expected to register growth at 8.3% CAGR during the forecast period from 2022 to 2030.

Asia Pacific Remains The Most Attractive Business Destination for Service Providers

Asia Pacific represents the most lucrative business destination for automotive engineering service providers. There exists sound investment & growth opportunities in markets including India, China, and South-east Asia. The prevailing growth opportunity in these economies is reflective of the huge automotive market. In addition, with the growing trend towards off-shoring, the automotive manufacturers in developed economies like Europe are relocating their manufacturing facilities to low-cost Asia Pacific countries. Consequently, outsourcing of automotive engineering services has surged in these countries. The trend is expected to continue and the region is poised to remain one of the major automotive engineering services markets throughout the forecast period.

Value Contribution from Design & Prototyping Service Segment to Remain Highest throughout the Forecast Period

In 2020, the demand for design & prototyping service was highest in the global automotive engineering services outsourcing market. The value contribution from mechanical design & prototyping service segment was around 35% of the global market value in the base year 2020. Since developing the mechanical design and prototype is time-consuming and expensive processes, Original Equipment Manufacturers usually prefer either completely outsourcing these to ESPs (Engineering Service Providers) or work in close association with them for product development.

Key Players:

Some of the leading vendors profiled in the research study include Onward Technologies Ltd., Alten SA, Altran Technologies Limited, AVL, ESG Elektroniksystem- und Logistik-GmbH,

Read the rest

Automotive Engineering Service Market worth $243.9 billion by 2028

CHICAGO, Jan. 30, 2023 /PRNewswire/ — Automotive Engineering Services Market is projected to grow from 153.2 billion in 2022 to 243.9 billion by 2028, registering a CAGR of 8.1%, during the forecast period, according to a new report by MarketsandMarkets™. 

MarketsandMarkets_Logo

MarketsandMarkets_Logo

Browse and in-depth TOC on “Automotive Engineering Services Market” 
254 – Tables
62 – Figures       
267 – Pages.

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id= 151284922

The growing demand of zero-emission vehicles, advancements in technologies such as ADAS, battery management, connectivity, among others, and rising commercial transport are expected to increase the demand for automotive engineering services around the world. For instance, the demand for automotive engineering services for electric vehicles such as battery development & management, charger testing, motor control, among others, is increasing due to the increased demand for electric passenger cars and commercial vehicles due to their lower operating noise and lower emissions as compared to their ICE counterparts. At present, major global automotive OEMs outsource processes such as designing, prototyping, system integration, and testing to an external source. The demand for outsourcing automotive engineering services has been increased from last few years. The outsourcing of automotive engineering services can help automotive OEMs by integrating product development with related operations such as engineering and warranty management.

Prototyping segment to be the largest market by value during forecast period.

Prototyping is estimated to be the largest service type segment of the Automotive Engineering Services Market during the forecast period. Prototyping enables industry professionals to create functional models of a new part design in a short time. In addition, the adoption of 3D printing technology has significantly reduced the time it takes to manufacture the functional model. In the automotive industry, 3D printing has created opportunities for the creation of new designs (making products safer, cleaner, and lighter) and other

Read the rest

Automotive Engineering Service Provider Market to See Rapid Growth by 2032 | Leading Players: Continental AG, AVL LIST GmbH, Robert Bosch GmbH

The global Automotive Engineering Service Provider market research study provides a thorough analysis of the state of the industry today and market projections through 2023-2032. The report may be the ideal combination of qualitative and quantitative data, highlighting significant market developments, challenges, competition industry analyses, and new opportunities available and trends within the Automotive Engineering Service Provider Market. This report also provides market size, recent trends, growth, share, development status, market dynamics, cost structure, and competitive landscape for the Automotive Engineering Service Provider market. The research report also discusses the current market and its potential for growth during the forecasted time frame. Professionals in the industry have conducted a thorough analysis of the worldwide Automotive Engineering Service Provider market report, which has been meticulously compiled to include just the information that is most important. The most up-to-date information on the global market is the report’s primary focus.

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.

Some of the Major Key players profiled in the study are Continental AG, AVL LIST GmbH, Robert Bosch GmbH, Bertrandt, HARMAN International, EDAG Engineering GmbH. and others.

The research study contains essential market data such as growth-influencing variables, barriers, opportunities, and strategies for overcoming them. The analysis also offers industry statistics, such as market value, share, CAGR, size, and so on, to help new entrants with market research. The study also looks at the economics, politics, technology, society, law, and the environment.

Key Drivers of the Market:

  • Increasing advancement in automobiles are accelerating
  • increasing power density
  • maximizing power savings

Market Segmentation:

Read the rest

Engineering Plastics Market is expected to grow from USD

Pune India, Jan. 25, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the engineering plastics market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the engineering plastics market are present across various countries in the above-mentioned regions.

Get Sample Copy of This Report @

The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as product type, application, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global engineering plastics market are Arkema Group, Asahi Kasei Corporation, BASF SE, Celanese Corporation, Covestro, DSM N.V., Dupont, Lanxess, LG Chem., Mitsubishi Engineering-Plastics Corporation, Saudi Basic Industries Corporation (Sabic), Solvay SA, Teijin, Toray, Victrex Plc. among others. To achieve a substantial market share in the worldwide engineering plastics market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
There is a group of plastic materials called engineering plastics that offer superior mechanical and thermal properties compared to commodity plastics, which are more commonly used. Because of current environmental and economic concerns, the market for lightweight engineering plastic is expected to grow faster. According to a recent study, every 10% reduction in vehicle weight reduces fuel consumption by 6-8%. As a result, automobile manufacturers are now using more advanced plastic materials to reduce weight and make their vehicles more fuel efficient. It is expected that the market growth of engineering plastics will be hampered by high costs associated with raw material

Read the rest

Insights Into The Global Automotive Engineering Services Market 2022-2031 Forecast Period

Automotive Engineering Services Global Market Report 2022– Market Size, Trends, And Global Forecast To 2026

Automotive Engineering Services Global Market Report 2022– Market Size, Trends, And Global Forecast To 2026

The Business Research Company’s Automotive Engineering Services Global Market Report 2022: Market Size, Trends, And Forecast To 2026

Avail a limited period discount of 33% on our uniquely designed Opportunities and Strategies market research reports. Contact us today and make winning strategies!”

— The Business Research Company

LONDON, GREATER LONDON, UNITED KINGDOM, December 30, 2022 /EINPresswire.com/ — Avail a limited period discount of 33% on our uniquely designed Opportunities and Strategies market research reports. Contact us today and make winning strategies!

As per The Business Research Company’s “Automotive Engineering Services Global Market Report 2022”, the automotive engineering services market is predicted to reach a value of $220.9 billion in 2022 at a compound annual growth rate (CAGR) of 10.96%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The automotive engineering services market is expected to reach $336.0 billion in 2026 at a CAGR of 11.06%. The rising demand for emission-less transportation is expected to propel the growth of the automotive engineering services global market.

Request A Free Sample Now To Gain A Better Understanding Of Automotive Engineering Services Market:

Key Trends In The Automotive Engineering Services Market
The use of artificial intelligence (AI) in automotive engineering is a key trend gaining popularity. Helpful AI algorithms and controllers aid in providing a realistic driving-range estimation and optimising energy conservation in electric vehicles, allowing for the addition of additional driving range. Artificial intelligence is also at the core of self-driving cars, which are becoming

Read the rest