The Europe Automotive Engineering Services Outsourcing Market would witness market growth of 9.5% CAGR during the forecast period (2022-2028).
The market for outsourcing automotive engineering services comprises companies (manufacturers, single proprietors, and partnerships) that sell services related to automobile transmission development for cutting-edge powertrain systems. Automotive transmission engineering is a crucial step in the production of cars and is done to ensure that power is transferred from the engine to the wheels so that the vehicle can move.
Commercial, industrial, and passenger vehicles are all subject to the outsourcing of automotive engineering services. Designing, prototyping, testing, system architecture and integration, simulation, and designing are the primary service categories for outsourcing automobile transmission engineering services.
Germany is a prominent automotive center in Europe with numerous notable manufacturers based there, such as the BMW Group, Volkswagen Group, and Daimler Group. In Europe, the country is a large producer of light commercial cars. Light commercial trailer manufacturers in Germany generate more trailers than the country requires. As a consequence, the country exports a lot of trailers. These manufacturing businesses want to make their cars even better, maybe by adding IoT and other cutting-edge technology. These factors will help the market for outsourcing automotive engineering grow.
The Germany market dominated the Europe Automotive Engineering Services Outsourcing Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10,287.9 million by 2028.The UK market is estimated to grow a CAGR of 8.6% during (2022 - 2028). Additionally, The France market would experience a CAGR of 10.3% during (2022 - 2028).
Based on Application, the market is segmented into Powertrain & After-treatment, Body & Chassis, Infotainment & Connectivity, Autonomous Driving/ADAS and Others. Based on Location, the market is segmented into On-shore and Off-shore. Based on Service, the market is segmented into Prototyping, System Integration, Testing, Designing and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Automotive Engineering Services Outsourcing Market will Hit $161.3 Billion by 2028, at a CAGR of 10.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AKKA Technologies SE (Adecco Group AG) update parent company, Altair Engineering, Inc., ALTEN, AVL List GmbH, Horiba Ltd., Capgemini SE, HCL Technologies Ltd. (HCL Enterprises), Tech Mahindra Limited, FEV Group GmbH, and RLE International Group.
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