Hyderabad, Aug. 08, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Automotive Acoustic Engineering Services Market Report (2023-2028)," the market is estimated at USD 4.96 billion in 2023. It is expected to register a CAGR of 8.13% during the forecast period.
Automotive acoustic systems are used to reduce vehicle noise by blocking and absorbing road and structural noise. Acoustic engineering services involve planning, developing, testing, and simulating vehicle sounds to achieve acceptable interior cabin noise levels. Stricter vehicle noise regulations and the demand for comfortable and luxurious interior cabins are driving the market. The trend of engine downsizing is expected to create opportunities for the global automotive acoustic engineering market in the coming years.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 4.96 billion |
| Market Size (2028) | USD 7.33 billion |
| CAGR (2023-2028) | 8.13% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Regulatory pressures. |
| Consumer demands for comfort and luxury. | |
| Advancements in engine technologies. |
Who are the Top Companies in the Global Automotive Acoustic Engineering Services Market?
The market is concentrated. A few players hold the major share of the market. These key players are expanding by developing new research and manufacturing facilities to gain more market share.
The significant players in the global automotive acoustic engineering services market are,
- Siemens Digital Industries Software (Siemens AG)
- Robert Bosch GmbH
- Continental Engineering Services GmbH (Continental AG)
- Bertrandt AG
- Schaeffler Engineering GmbH
- Autoneum Holding Ltd
- IAC Acoustics (Catalyst Acoustics Group)
- AVL List GmbH
- EDAG Engineering Group AG
- FEV Group GmbH
- Spectris PLC
- Adler Pelzer Holding GmbH
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Key Highlights from the Global Automotive Acoustic Engineering Services Market Report:
Popularity of Powertrain Applications
- The powertrain segment is dominating the global automotive acoustic engineering services market.
- Regulations set by organizations like the United Nations Economic Commission for Europe (UNECE) and local implementations help control powertrain noise emissions.
- Vehicle manufacturers conduct powertrain tests to comply with standards, including sound pressure levels and powertrain integrity tests under different load conditions.
Asia-Pacific Dominating the Market
- The increasing EV adoption, government initiatives, and industry collaborations are expected to drive the adoption of automotive acoustic engineering services across different vehicle propulsion systems in Asia-Pacific.
- China, with its large automotive market, saw over 21.39 million passenger cars sold in 2021, presenting a substantial opportunity for automotive acoustic engineering providers.
- Japan is expected to see notable deployment of automotive acoustic engineering services in EVs. The Japanese government doubled incentives for EVs and subsidized charging infrastructure to catch up with other matured economies.
- In India, automakers are partnering with research institutes to focus on electric and autonomous vehicles, indicating the growth potential for automotive acoustic engineering services.
What are the Latest Developments in the Global Automotive Acoustic Engineering Services Market?
- In May 2022, Genesis developed cutting-edge noise, vibration, and harshness (NVH) technology and testing to improve cabin refinement for its first all-electric model, the GV60.
- In April 2022, At LogiMAT, Bosch introduced an innovative collision warning system that informs forklift drivers with auditory and visual indications in unsafe scenarios.
Mordor Intelligence has Segmented the Global Automotive Acoustic Engineering Services Market Based on Process, Software, Application, Vehicle Type, Propulsion Type, and Geography
- By Process (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Designing
- Development
- Testing
- By Software (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Calibration
- Vibration
- Other Software
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Interior
- Body and Structure
- Powertrain
- Drivetrain
- By Vehicle Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Passenger Cars
- Commercial Vehicle
- By Propulsion Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Internal Combustion Engine
- Electric and Plug-In Hybrid
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South America
- Rest of the World
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Automotive Acoustic Engineering Services Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
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