Sector to Grow at 8.3% Annually Through 2030

Sector to Grow at 8.3% Annually Through 2030
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Dublin, Jan 6, 2023 (GLOBE NEWSWIRE) — 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 offering.

The global automotive engineering services outsourcing market was valued at US$50.28 billion in 2020 and is expected to register a growth of 8.3% CAGR during the forecast period of 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 are strong investment and growth opportunities in markets such as India, China and Southeast Asia. The prevailing growth opportunity in these economies reflects the huge automotive market. Also, with the increasing trend towards offshoring, automakers in developed economies such as Europe are relocating their manufacturing facilities to low-cost Asia Pacific countries. Consequently, the outsourcing of automotive engineering services has increased in these countries. The trend is expected to continue and the region is poised to remain one of the top markets for automotive engineering services throughout the forecast period.

The value contribution of the design and prototyping services segment will remain the highest during the forecast period

In 2020, the demand for design and prototyping services was the highest in the global automotive engineering services outsourcing market. The value contribution of the mechanical design and prototyping services segment was around 35% of the global market value in the base year 2020. Since mechanical design development and prototyping are expensive and time-consuming processes , OEMs often prefer to fully outsource to ESPs (Engineering Service Providers) or work closely with them for product development.

Key players. Main players:

Some of the major vendors profiled in the research study include Onward Technologies Ltd., Alten SA, Altran Technologies Limited, AVL, ESG Elektroniksystem- und Logistik-GmbH, P3 Automotive GmbH, ITK Engineering GmbH, Kistler Instrumente AG, M Plan GmbH, EDAG Engineering GmbH, Bertrandt and MBtech Group GmbH, among others.

Market segmentation
Application

service model

Vehicle

Key questions answered in this report

  • What are the key micro and macro environmental factors affecting the growth of the Automotive Engineering Services (ESO) Outsourcing market?

  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?

  • Estimated forecast and market projections up to 2030.

  • Which segment represents the fastest CAGR during the forecast period?

  • Which market segment has the largest market share and why?

  • Are low- and middle-income economies investing in the automotive engineering services (ESO) outsourcing market?

  • Which is the largest regional market for the Automotive Engineering Services (ESO) Outsourcing Market?

  • What are the market trends and dynamics in emerging markets like Asia Pacific, Latin America, and the Middle East and Africa?

  • What are the key trends driving the growth of the Automotive Engineering Services Outsourcing (ESO) market?

  • Who are the key competitors and what are their key strategies to improve their presence in the global Automotive Engineering Services (ESO) Outsourcing market?

Key topics covered:

1. Preface

2. Executive summary

3. Automotive Engineering Services (ESO) Outsourcing Market – Competitive Analysis

4. Automotive Engineering Services (ESO) Outsourcing Market – Macro Analysis and Market Dynamics

5. Automotive Engineering Services (ESO) Outsourcing Market: By Application, 2020-2030, USD (Millions)

6. Automotive Engineering Services (ESO) Outsourcing Market: By Service Model, 2020-2030, USD (Millions)

7. Automotive Engineering Services (ESO) Outsourcing Market: By Vehicle, 2020-2030, USD (Millions)

8. North America Automotive Engineering Services Outsourcing (ESO) Market, 2020-2030, USD (Million)

9. UK and EU Automotive Engineering Services Outsourcing (ESO) Market, 2020-2030, USD (Millions)

10. Asia Pacific Automotive Engineering Services (ESO) Outsourcing Market, 2020-2030, USD (Million)

11. Latin America Automotive Engineering Services (ESO) Outsourcing Market, 2020-2030, USD (Millions)

12. Middle East and Africa Automotive Engineering Services Outsourcing (ESO) Market, 2020-2030, USD (Million)

13. Company profile

Mentioned companies

For more information on this report, visit https://www.researchandmarkets.com/r/t4n9dk

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