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Global Automotive Acoustic Engineering Services Market to Grow at a CAGR of 6.70% During 2022-2027, Aided by the Growing Focus on Acoustic Management

According to a new report by EMR titled, ‘Global Automotive Acoustic Engineering Services Market Report and Forecast 2022-2027’, the global market for automotive acoustic engineering services is estimated to grow at a CAGR of 6.70% in the forecast period of 2022-2027.

The introduction of various government regulations regarding emissions is prompting automobile manufacturers to focus on acoustic management, which is driving the market for automotive acoustic engineering. As consumers are increasingly seeking vehicles with enhanced reliability, cost-effectiveness, and feasibility, among others, the growing demand for efficient acoustics is augmenting the growth of the market. Various automotive OEMs are increasingly leveraging innovative services to optimise the comfort of vehicles, which is propelling the market growth. The market growth can also be attributed to the development of innovative services that enables the analysis of noise and vibration issues and boost the overall quality of vehicles. Furthermore, the rising utilisation of software for acoustic management of automobiles that reduces the requirement for physical prototyping is expected to significantly contribute to the growth of the market in the forecast period.

Continental AG’s (OTCMKTS: CTTAY) subsidiary, Continental Engineering Services, opened three sites in Germany, England, and Italy to expand its operation in March 2021. The sites would focus on the adaptation and development of Advanced Driver Assistance Systems (ADAS), that play a significant role in modern vehicles. Moreover, the expansions would enhance the company’s focus on vehicle acoustics, electric mobility, traffic safety, and connectivity and information. The company also invested in an acoustic centre in Marktgroeningen to implement complex projects in vehicle acoustics and thermal management. With the introduction of new EU regulations, the use of advanced driver assistance systems (ADAS) is increasing. Such expansion activities by the leading companies are propelling the market for automotive acoustic engineering services.

Market Analysis by Process, Offering, Software, Application, Vehicle Type, and Region:

  • The market, on the basis of process, can be divided into designing, development, and testing.
  • On the basis of offerings, the market is segmented into physical acoustic testing and virtual acoustic testing.
  • Based on software, the market can be divided into calibration, signal analysis, simulation, and vibration, among others.
  • The major applications of automotive acoustic engineering services include drivetrain, powertrain, body and structure, and interior, among others.
  • By vehicle type, the market is classified into light-duty vehicles (LDV), heavy-duty vehicles (HDV), and electric and hybrid vehicles.
  • The regional markets for automotive acoustic engineering services include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing acceptance of advanced technologies is augmenting the market for automotive acoustic engineering services.
  • The market is being propelled by the growing demand for luxury vehicles, which, in turn, is surging the utilisation of automotive acoustic engineering services.
  • The introduction of various stringent government regulations regarding vehicle noise and emissions is augmenting the market for automotive acoustic engineering services.
  • The increasing popularity of engine downsizing and the rising demand for advanced automobiles are fuelling the market growth of automotive acoustic engineering services.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for automotive acoustic engineering services for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the processes, offerings, software, applications, vehicle types, and major regions of automotive acoustic engineering services.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global automotive acoustic engineering services market are AVL GmbH, Siemens PLM Software, Bertrandt, Schaeffler, FEV, Continental, and Autoneum, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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