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Automotive Engineering Services Market revenue is expected to grow at 8.9 % of CAGR through 2024 to 2030, reaching nearly US$ 330.20 Bn., says Maximize market Research

(USGovernment-News.Com, July 10, 2024 ) As per Maximize Market research, the Automotive Engineering Services Market size was valued at US$ 181.80 Bn. in 2023 and the total revenue is expected to grow at 8.9 % of CAGR through 2024 to 2030, reaching nearly US$ 330.20 Bn.

Asia-Pacific dominated the market with 42% market share in 2023. Rapid adoption of electric vehicles in China, governmental regulations promoting green technologies and reducing emissions, along with increased vehicle production, rising luxury vehicle demand, and technological advancements are some of the growth of the market. Countries like Japan and South Korea, and fast-developing economies like China and India are key markets. North America is expected to experience rapid expansion throughout the forecast period.

IP restrictions & weak global economy are some of the challenges faced by market.

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Automotive Engineering Services Market Segmentation

by Service Type




System Integration



by Vehicle Type

Passenger Cars

Light Commercial Vehicles

Heavy Commercial Vehicles


by location



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by Application

ADAS and Safety

Electrical, Electronics, and Body Controls


Connectivity Services

Interior, Exterior, and Body Engineering

Powertrain and Exhaust


Battery Development & Management

Charger Testing

Motor Control


by Propulsion



by Nature Type

Body Leasing


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Automotive Engineering Services Key Players:

Altair Engineering Inc.

Pilot Systems International

HARMAN International

EPAM Systems


Maximize Market Research is leading Automotive and Transportation research firm, has also published the following reports:

Automotive Retail Market size was valued at USD 3.66 trillion in 2023 and the total Global Automotive Retail revenue is expected to grow at a CAGR of 7.15 % from 2024 to 2030, reaching nearly USD 6.22 trillion.

Automotive Manufacturing Equipment Market size is valued at USD 7.5 Billion in 2023 and is forecast to grow at a CAGR of 11.3% from 2024 to 2030, reaching nearly USD 15.87 Billion

About Maximize Market Research

Maximize Market Research provides B2B and B2C research on 6,500 high-growth emerging opportunities and technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics and communications, Internet of Things, Food and Beverages, Aerospace and defense, and other manufacturing sectors.


L Godage


Source: EmailWire.Com


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