Automotive Engineering Services Outsourcing (ESO) Market By Application (Designing & Prototyping, Development & Integration, Testing, Body Leasing), By Service Model (On-shore, Off-shore), By Vehicle Type (Internal Combustion Engine (ICE) Vehicles, Electric Vehicles, Hybrid Vehicles) - Growth, Future Prospects & Competitive Analysis, 2019 – 2027

The global automotive engineering services outsourcing market was valued at US$ 43.13 billion in 2018 and is expected to grow at an 8.3% CAGR between 2019 and 2027.

Asia Pacific: The Most Attractive Business Destination for Service Providers

Asia Pacific is the most profitable business location for automotive engineering service providers. In markets such as India, China, and Southeast Asia, there are solid investment and growth opportunities. The prevailing growth opportunity in these economies is reflective of the huge automotive market.

In addition, with the growing trend towards off-shoring, automotive manufacturers in developed economies like Europe are relocating their manufacturing facilities to low-cost Asia-Pacific countries. Consequently, the outsourcing of automotive engineering services has surged in these countries.

The trend is expected to continue, and the region is poised to remain one of the major automotive engineering services markets throughout the forecast period from 2019 to 2027.

Value Contribution from the Design and Prototyping Service Segment to Remain High throughout the Forecast Period

In 2018, the demand for design and prototyping services was highest in the global automotive engineering services outsourcing market. The value contribution from the mechanical design and prototyping service segment was around 35% of the global market value in the base year 2018.

Since developing the mechanical design and prototype is a time-consuming and expensive process, original equipment manufacturers usually prefer to either completely outsource these to ESPs (engineering service providers) or work in close association with them for product development.

Key Players:

Some of the leading vendors profiled in the research study include Onward Technologies Ltd., Alten SA, Altran Technologies Limited, AVL, ESG Elektroniksystem- und Logistik-GmbH, P3 Automotive GmbH, ITK Engineering GmbH, Kistler Instrumente AG, M Plan GmbH, EDAG Engineering GmbH, Bertrandt, and MBtech Group GmbH, among others.

Periods of History and Forecast

This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. The CAGR (compound annual growth rate) for each segment and sub-segment is calculated for the forecast period from2019 to 2027.

Report Scope by Segments

Key segments covered in the report are as follows:

Key questions are answered in this report.

• What was the size of the global automotive engineering services outsourcing market in 2016 and 2017?
• What are the estimated forecasts and market projections from 2018 up to 2026?
• Which is the largest regional automotive engineering services outsourcing market?
• Which service model contributes the largest revenue worldwide?
• Which vehicle type segment has the highest adoption of automotive engineering services worldwide?
• Predominant trends shaping the global automotive engineering services outsourcing market worldwide
• Who are the leading vendors in the global automotive engineering services outsourcing market worldwide?
• What are the key strategies adopted by the leading vendors in the global automotive engineering services outsourcing market?

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