New Analysis from Global Industry Analysts Reveals Steady Growth for Automotive Engineering Services, with the Market to Reach $314.5 Billion Worldwide by 2026

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Jun 29, 2022, 08:35 ET

SAN FRANCISCO, June 29, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Automotive Engineering Services - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
What's New for 2022?

New Analysis from Global Industry Analysts Reveals Steady Growth for Automotive Engineering Services, with the Market to Reach $314.5 Billion Worldwide by 2026

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Edition: 6; Released: January 2022
Executive Pool: 674
Companies: 41 - Players covered include Akka Technologies; Alten Cresttek; Altran; AVL; Bertrandt AG; Capgemini; FEV; Harman; HCL Technologies; IAV Automotive Engineering and Others.
Coverage: All major geographies and key segments
Segments: Location (In-House, Outsource); Application (Electrical, Electronics & Body Controls, ADAS & Safety, Chassis, Connectivity Services, Other Applications); End-Use (Passenger Cars, Commercial Vehicles)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Automotive Engineering Services Market to Reach $314.5 Billion by 2026
Amid the COVID-19 crisis, the global market for Automotive Engineering Services estimated at US$167.3 Billion, is projected to reach a revised size of US$314.5 Billion by 2026, growing at a CAGR of 10.8% over the analysis period. In-House, one of the segments analyzed in the report, is projected to record a 11.2% CAGR and reach US$230.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Outsource segment is readjusted to a revised 10.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $50.3 Billion in 2021, While China is Forecast to Reach $65.5 Billion by 2026
The Automotive Engineering Services market in the U.S. is estimated at US$50.3 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$65.5 Billion by the year 2026 trailing a CAGR of 14.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.5% and 9.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.5% CAGR. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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