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Automotive Acoustic Engineering Services Market Analysis by Process (Design, Development, Test); by Software (Calibration, Signal Analysis, Simulation, Vibration); by Offering (Physical, Virtual) and by Application (Internal Combustion Engine, and Electric) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Schaeffler Group, the company that has more than 20 years of experience in the acoustic development of vehicle components has created a new sound using real-time sound synthesis.  It hasdeveloped the car sound of the future by revealing the new sound of the DTM Electric.
  • HARMAN International a wholly-owned subsidiary of Samsung Electronics Co. Ltd., announced the launch of the Fiat New 500 “La Prima by Bocelli”. The premium sound is engineered and designed by JBL and in partnership with Andrea Bocelli.

Global Automotive Acoustic Engineering Services Market Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~7%

Base Year Market Size (2022)

~ USD 3 Billion

Forecast Year Market Size (2033)

~ USD 6 Billion

The global automotive acoustic engineering services market is estimated to garner a revenue of ~USD 6 billion by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 3 billion in the year 2022. The growth of the market can primarily be attributed to the growing number of automobiles along with rising regulatory norms for noise pollution worldwide. For instance, according to the Environment Protection Rules 1986 (EPR), the range from 81 dB to 90 dB of noise is permissible for all passenger and commercial vehicles at the manufacturing stage.

Automotive-Acoustic-Engineering-Services-Market-Size

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Automotive acoustic engineering service is the process of reducing the noise arising from different vehicular components so that it does not affect the inner as well as the outer environment of the vehicle. It includes various processes such as testing, designing, development, and simulation of sound originating from the engine, transmission and other auto components. This process is performed to bring the interior cabin noise within permissible range. With the recent advancements in acoustic engineering services as well as rising production of motor vehicles, the demand for automotive acoustic engineering services is on the rise amongst the automobile manufacturers, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global automotive acoustic engineering services market during the forecast period. For instance, the global motor vehicles production increased by ~1.3% in 2021, compared to 2020.

Global Automotive Acoustic Engineering Services Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Negative Impact of Noise Pollution - as per an estimation, the environmental noise accounted for ~48,000 new cases of ischemic heart disease in the year 2021. Automotive acoustic engineering services are used to minimize and control the level of noise in the vehicles. With the rising negative impact road traffic noise on health, the demand for automotive acoustic engineering services is expected to escalate in the forecasted period.
  • Increasing Registrations of Diesel Carsfor instance, in 2020, nearly 30 % of new passenger cars registered in European Union were diesel powered.
  • Growing Penetration of Gas Powertrain - acoustic engineering services are carried out for different applications such as the powertrain to control and minimize the noise level of the vehicle. It was found that, ~94% vehicles registered in United States in 2018, had gas powertrain.
  • Upsurge in the Demand of Luxury Vehicles – for instance, out of total light-vehicle sold in United States in 2021, the luxury brands accounted for ~14%.

Challenges

  • Requirement of High Capital Investment
  • Increased Usage of Rental Acoustic Testing Equipment
  • Restrictive Entry Barriers

The global automotive acoustic engineering services market is segmented and analyzed for demand and supply by application into internal combustion engine, and electric. Amongst these segments, the electric segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing production of electric vehicles along with the surge in the number of electric vehicles worldwide. For instance, The Net Zero Emissions by 2050 Scenario, predicts an electric car fleet of more than 300million in 2030.

Global Automotive Acoustic Engineering Services Market Regional Synopsis

Regionally, the global automotive acoustic engineering services market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033, backed by the presence of a strong automobile network in the region, growing production of vehicles, as well as the rising awareness amongst the automobile manufacturers for automotive acoustic engineering services. For instance, the vehicle production volume of China in June 2022, hit over 2.4 million units.

Automotive-Acoustic-Engineering-Services-Market-Scope

The global automotive acoustic engineering services market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global automotive acoustic engineering services market includes the following segments:

By Process

  • Design
  • Development
  • Test

By Software

  • Calibration
  • Signal Analysis
  • Simulation
  • Vibration

By Offering

  • Physical
  • Virtual

By Application

  • Internal Combustion Engine
  • Electric

Top Featured Companies Dominating the Global Automotive Acoustic Engineering Services Market

  • Schaeffler Group
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Harman International
  • Robert Bosch GmbH
  • Brüel & Kjær Vibro GmbH
  • FEV Group Gmbh
  • EDAG Engineering GmbH
  • Head acoustics GmbH
  • Bertrandt AG
  • AVL List GmbH
  • Siemens Aktiengesellschaft

 

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