Automotive Acoustic Engineering Services Market by Process (Design, Development, Test), Software (Calibration, Signal Analysis, Simulation, Vibration), Offering (Physical, Virtual), Application, Vehicle Type (ICE, Electric) & Region-Global Forecast to 2025
“OEM's Focus on the reduction of R&D costs and lower product development time and rising customer preference for enhanced cabin comfort and luxury features have boosted the demand for acoustic engineering services”
The automotive acoustic engineering services market is projected to grow at a CAGR of 7.42% during the forecast period, to reach a market size of USD 4.04 billion by 2025 from USD 2.45 billion in 2018. Factors such as the introduction of stringent regulatory norms pertaining to vehicle noise for ICE, electric & hybrid vehicles and increasing customer preference for enhanced cabin comfort and luxury features are expected to drive the growth of this market. Alternatively, the increased usage of rental & used acoustic testing equipment, high capital investment, and entry barriers are some of the few concerns of this market.
Virtual Acoustic Testing is projected to grow at the highest rate in the automotive acoustic engineering services market, by offering, during the forecast period
The automotive industry has witnessed a transition from physical testing to virtual testing and simulation practices. This transition helps reduce the R&D cost associated with physical testing and saves development time. Multiple prototypes of automotive components/complete vehicle assembly are virtually tested with different variables at a fraction of a cost to keep the noise level within the permissible range as suggested by regulatory authorities. According to a primary respondent, companies usually spend 70% of the time on virtual testing for a new product launch. According to an article published by MSC Software, virtual testing provides a better understanding of a product’s performance and thus enables the user to develop a more precise product. Almost every vehicle component is compatible with virtual testing and simulation process. Global automotive manufacturers are outsourcing projects for virtual vehicle testing that would bring immense business opportunities for virtual acoustic testing service providers such as TCS, Infosys, Siemens, HP, Accenture, and Intel in the coming years.
Body & Structure is projected to lead the automotive acoustic engineering services market, by application, during the forecast period
Body & structure is a prime source of structure-borne noise in a vehicle. Vehicle components such as the instrument panel, steering, doors, tires, suspension, infotainment, and telematics systems are mounted on the vehicle body and contribute the maximum noise that enters the cabin. Thus, the acoustic engineering for body & structure would involve the calculation and analyzing the design and acoustical parameters to reduce the noise and vibration. As per a primary insight, key OEMs including Volkswagen, Ford, Hyundai, and BMW are sending the body in white (BIW) for acoustic testing. Also, stringent norms for emission level reduction and increased fuel efficiency have driven focus on vehicle light-weighting. A study published by Siemens suggests that a 10% reduction in body weight increases the fuel economy by 6%–8%. Thus, the usage of lightweight materials such as high strength steel (HSS), aluminum (Al), magnesium, and titanium has increased significantly, which in turn has accentuated the need for enhanced acoustical refinement to restrict the structural-borne noise. Thus, body & structure is a key focus area for OEMs that spurs the demand for acoustic engineering services market.
Europe Middle East & Africa (EMEA) and Asia Pacific are expected to be the largest and fastest growing markets for automotive acoustic engineering services, respectively
EMEA is estimated to be the largest market for automotive acoustic engineering services due to the high demand for premium vehicles in key European countries such as Germany, France, and the UK. As per MarketsandMarkets analysis, the share of premium cars in the total passenger car production in Germany & France was estimated to be nearly 81–83% and 75-77% in 2017, respectively. By 2025, the share of premium cars in these two countries is expected to reach 92–93% and 82–84%, respectively. The increasing demand for premium cars has accentuated the need to improve noise simulation and calibration, which can be achieved with the help of acoustic engineering practices. Thus, the increasing sale of premium cars, which is projected to show linear growth, would drive the market for automotive acoustic engineering services in Europe.
Asia Pacific is estimated to be the fastest growing market for automotive acoustic engineering services. China, Japan, and India are the key markets for acoustic engineering services owing to increased vehicle production in these countries. Also, these countries along with some others are gaining new projects from foreign OEMs and Tier-1’s due to the presence of technology giants such as TCS, Infosys, and HP. The increasing preference of customers for superior cabin comfort with quieter characteristics and growing number of outsourcing projects in the Asian countries would fuel the market for acoustic engineering services in the future.
BREAKDOWN OF PRIMARIES
The study contains insights of various industry experts, ranging from engineering service providers (ESP) to Automotive OEMs and Tier-1 suppliers. The break-up of the primaries is as follows:
By Company Type – ESP– 52%, Automotive OEMs - 31%, and Tier-1- 17%
By Designation - C-level - 48%, D-Level – 36%, and Others –16%
By Region – Europe - 43%, Americas - 32%, and Asia Pacific - 25%
The report provides detailed profiles of the following companies:
Siemens PLM (US)
EDAG Engineering (Germany)
The primary objective of the study is to define, describe, and forecast the automotive acoustic engineering services market by offering, process, software, application, vehicle type (ICE & electric & hybrid vehicle), and region. It analyzes the opportunities offered by various segments of the market to the stakeholders. It tracks and analyzes competitive developments such as market ranking analysis, expansions, joint ventures, acquisitions, and other industry activities carried out by key industry participants.
Reasons for buying the report
The study analyzes the automotive acoustic engineering services market, in terms of value, at the country and regional level based on processes such as designing, development, and testing.
The study also provides qualitative and quantitative analysis of the market by software (calibration, signal analysis, simulation, vibration, & others), application (drivetrain, powertrain, body & structure, interior, and others), and vehicle type.
The report provides the competitive landscape and company profiles of key players, which reflect the market ranking analysis of leading players along with the dominant strategy adopted by these stakeholders to retain their position.