Global Automotive Acoustic Engineering Services Market accounted for US$ 2.54 billion in 2020 and is estimated to be US$ 5.22 billion by 2030 and is anticipated to register a CAGR of 7.50%. Automobile acoustics engineering services are engineering services that are supplied to calibrate the sound and vibration of the engine, transmission system, and other automotive components in order to monitor, manage, and bring internal cabin noise within acceptable limits. Rising demand for automotive acoustic engineering services is a major driver driving growth in the global automotive acoustic engineering services market, owing to increased government rules and regulations regulating vehicle noise management. Furthermore, increased demand for automotive acoustic engineering services in premium and luxury automobiles to improve cabin comfort is another factor driving global market expansion.
The report " Global Automotive Acoustic Engineering Services Market, By Type (Calibration, Simulation, Vibration, and Signal Analysis), By Application (Heavy Duty Vehicles, Light Duty Vehicles, and Electric & Hybrid Vehicles), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2029’’
Key Highlights:
- Due to European-based engineering services providers supply virtual and physical testing and engineering of automotive components and vehicle assembly to meet the need of foreign and regional OEMs and tier-1 suppliers, Europe dominates the automotive acoustic engineering services market. Furthermore, the increased early acceptance of innovative technologies would drive the growth of the region's automotive acoustic engineering services market during the projection period. Because of rising disposable income and government-imposed noise reduction standards, Asia-Pacific is expected to see considerable expansion in the automotive acoustic engineering services market.
Analyst View:
The rise in customer desire for luxury features and better cabin comfort are two main factors projected to drive the growth of the automotive acoustic engineering services market during the forecast period. Furthermore, the increasing demand for premium automobiles is expected to drive the growth of the automotive acoustic engineering services market. Furthermore, increased sales of SUVs and MUVs, as well as government regulations addressing vehicle noise, are expected to dampen the growth of the automotive acoustic engineering services market. On the other hand, the use of rental and used acoustic testing equipment is expected to increase over time.
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Key Market Insights from the report:
Global Automotive Acoustic Engineering Services Market accounted for US$ 2.54 billion in 2020 and is estimated to be US$ 5.22 billion by 2030 and is anticipated to register a CAGR of 7.50%. The global automotive acoustic engineering services market report segments the market on the basis of type, application, and region.
- Based on Type, Global Automotive Acoustic Engineering Services Market is segmented into Calibration, Simulation, Vibration, and Signal Analysis.
- Based on Application, Global Automotive Acoustic Engineering Services Market is segmented into Heavy Duty Vehicles, Light Duty Vehicles, and Electric & Hybrid Vehicles.
- By Region, the Global Automotive Acoustic Engineering Services Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Automotive Acoustic Engineering Services Market:
Key players in the global automotive acoustic engineering services market includes AVL, Siemens PLM Software, Bertrandt, Schaeffler, EDAG Engineering, IAV, Autoneum, FEV, Continental, Head Acoustics and STS Group.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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