Automotive Engineering Services Market Update Report 2024 | Industry Trends, Demand, Leading Companies and Segmentation till 2032

Automotive engineering services market is anticipated to grow at a significant CAGR of 13.7% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as increasing interest in electric vehicles, increased emphasis on R&D in the automotive industry, and strict government laws designed to reduce vehicle emissions. According to the Alliance for Automotive Innovation (AAI), in November 2022, the combined automotive ecosystem drives more than $1.0 trillion into the US economy each year – 4.9% of GDP. More than $220.0 billion in federal and state revenue is generated annually by the manufacturing, sale, and maintenance of automobiles in the US.

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Autonomous vehicles help execute software and provide transit service without requiring human input. The vehicle is combined with a variety of sensors, actuators, a machine learning system, and sophisticated and potent algorithms. An autonomous car integrates a variety of services, including body electronics, electrical, ADAS, and artificial intelligence-based networking services. Therefore, the market expansion for automotive engineering services is anticipated to be fueled by the development and deployment of autonomous vehicles.

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  • Market Coverage

  • Market number available for – 2024-2031

  • Base year- 2024

  • Forecast period- 2024-2031

  • Segment Covered- By Source, By Product Type, By Applications

  • Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill

  • , and others


Global Automotive Engine Market Report Segment

By Component

  • Electronic Control Unit (ECU)

  • Sensors


By Sensor Type

  • Oxygen Sensor

  • Temperature Sensor

  • Position Sensor

  • Knock Sensor

  • Others (Tyre Pressure Monitoring Sensor, Vehicle Speed Sensor, and Air Bag Sensor)


By Fuel Type

  • Gasoline

  • Diesel


By Communication Technology

  • Controller Area network (CAN)

  • LIN (Local Interconnect Network (LIN)

  • Media Oriented Systems Transport (MOST)

  • Flexray  Automotive Communication Bus


By Vehicle Type

  • Passenger Car

  • Light Commercial Vehicle (LCV)

  • Heavy Commercial Vehicle (HCV)


Global Automotive Engine Market Report Segment by Region

North America

  • United States

  • copyright


Europe

  • UK

  • Germany

  • Italy

  • Spain

  • France

  • Rest of Europe


Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Rest of Asia-Pacific


Rest of the World

  • Latin America

  • Middle East & Africa


The Report Covers

  • Market value data analysis of 2023 and forecast to 2031.

  • Annualized market revenues ($ million) for each market segment.

  • Country-wise analysis of major geographical regions.

  • Key companies operating in the automotive engineering services market. Based on the availability of data, information related to new service deployment, and relevant news is also available in the report.

  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

  • Analysis of market-entry and market expansion strategies.

  • Competitive strategies by identifying ‘who-stands-where’ in the market.


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