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 2023 to 2030.

"Asia Pacific: 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, P3 Automotive GmbH, ITK Engineering GmbH, Kistler Instrumente AG, M Plan GmbH, EDAG Engineering GmbH, Bertrandt, and MBtech Group GmbH among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automotive Engineering Services Outsourcing (ESO) market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Automotive Engineering Services Outsourcing (ESO) market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Automotive Engineering Services Outsourcing (ESO) 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 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Automotive Engineering Services Outsourcing (ESO) market?
• Which is the largest regional market for Automotive Engineering Services Outsourcing (ESO) market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Automotive Engineering Services Outsourcing (ESO) market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive Engineering Services Outsourcing (ESO) market worldwide?