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. The market for virtual acoustic testing of automotive components is anticipated to expand as a result of tightening rules on vehicle noise, rising demand for SUV/MUVs for off-roading, and rising sales of premium & luxury vehicles with greater comfort & luxury.
Light-duty vehicles (LDV) segment is estimated to be the largest market for automotive acoustic engineering services
Light commercial vehicles (LCV) and passenger cars make up the LDV segment. The majority of vehicles produced worldwide are cars and light commercial vehicles (LCVs), which forces automakers to concentrate on developing these vehicles’ acoustical performance. According to OICA and MarketsandMarkets figures, passenger cars and light commercial vehicles (LCVs) made up roughly 75-77% and 16-18%, respectively, of the total vehicle production in 2017. As a result of stricter pollution regulations and the need for increased fuel economy, there are now more demanding criteria for passenger automobiles’ acoustic engineering. The emphasis of acoustic engineering has also changed from the powertrain to interior and body & structural applications due to the growing preference for a quiet cabin when purchasing a new car. LCVs have a significant market in North America. Some of the most popular vehicles in the area include the Ford F-150, Chevrolet Silverado, and Toyota Hilux. Additionally, OEMs have been compelled to engage in acoustic engineering operations by European customers’ growing preference for sophisticated light trucks with improved interior comfort.
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Designing is estimated to be the fastest growing automotive acoustic engineering process
The most crucial phase is design, where several prototypes can be created, tested, and evaluated against the intended noise limit realistically utilizing simulations and integrations into the vehicle. The noise coming from the engine, wheels, motor, tires, etc. can be heard during this process. This procedure aids in selecting the material that can be utilized to reduce noise during component manufacturing. As a result, it guarantees that the vehicle and the component receive the best possible acoustical accuracy and aids in moving the development of the final product forward. Future vehicle designs would become even more complex as a result of present and impending safety regulations as well as technological improvements. To prevent launch delays and cut costs, the designing process would continue to be a major emphasis of automotive acoustic engineering services.
EMEA: The largest market for automotive acoustic engineering services
The market for automotive acoustic engineering services is anticipated to be led by EMEA during the projected period. EMEA is the regional hub for important engineering service providers like AVL, EDAG, Bertrandt, FEV, and Schaeffler. To fulfill the rising demand and strengthen their regional footprint, top businesses are collaborating, expanding, and acquiring across Europe and other regions. For example, Autoneum, Nittoku, and Toyota Boshoku established a joint venture for the R&D of vehicle acoustics and engineering services, which went into operation in January 2018. Additionally, a variety of business methods are being used by providers of engineering services to gain from market expansion on both a regional and international scale. To increase its technical and product development knowledge in the market, FEV bought a controlling stake in Imperia GmbH (Germany), which creates cutting-edge lightweight vehicle solutions, in November 2016. Additionally, AVL and Rescale worked together to make the AVL EXCITE available on their simulation platform. In the upcoming years, all of these methods will not only help the organizations’ service offerings for a variety of automotive applications, but they will also open up new business chances on the domestic and international markets.
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Key Market Players
Some prominent players of automotive acoustic engineering services market are AVL (Austria), Siemens PLM (US), Bertrandt (Germany), Schaeffler (Germany), EDAG Engineering (Germany), Continental (Germany), FEV (Germany), Autoneum (Switzerland), and IAV (Germany).
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