Automotive Acoustic Engineering Market to Expand at a CAGR of ~7%
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% By 2033
NEW YORK, NEW YORK, UNITED STATE, December 12, 2022 /EINPresswire.com/ — Global Automotive Acoustic Engineering Market Key Insights
During the forecast period of 2023-2033, the global automotive acoustic engineering market is expected to reach an estimated value of ~USD 6 billion by 2033, by expanding at a CAGR of ~7%. The market further generated a revenue of ~USD 3 billion in the year 2022. Major key factors propelling the growth of automotive acoustic engineering market worldwide are the increasing negative impact of noise pollution and the increasing registrations of diesel cars.
Market Definition of Automotive Acoustic Engineering
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.
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Global Automotive Acoustic Engineering Market: Growth Drivers
The growth of the global automotive acoustic engineering market can majorly be attributed to the launch of several advanced products by the key players operating in the market. For instance, 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. On the other hand, the market growth can also be attributed several technological advancements occurring in the field of automotive acoustic engineering is also projected to drive the market growth. For instance, 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 has developed the car sound of the future by revealing the new sound of the DTM Electric.
The global automotive acoustic engineering market is also estimated to grow majorly on account of the following:
Growing Negative Impact of Noise Pollution
Rising Registrations of Diesel Cars
Increasing Penetration of Gas Powertrain
Upsurge in the Demand of Luxury Vehicles
Global Automotive Acoustic Engineering Market: Restraining Factor
There are requirement of high capital investment, and increased usage of rental acoustic testing equipment in the market. Hence, these factors are expected to be the major hindrance for the growth of the global automotive acoustic engineering market during the forecast period.
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Global Automotive Acoustic Engineering Market Segmentation
By Application (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, according to the Net Zero Emissions by 2050 Scenario, there will be more than 300 million electric vehicles on the road by 2030.
By Process (Design, Development, and Test)
By Software (Calibration, Signal Analysis, Simulation, and Vibration)
By Offering (Physical, and Virtual)
The Asia Pacific automotive acoustic engineering market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. 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 in the region are some of the major factors anticipated to drive the growth of the market in the Asia Pacific region during the forecast period. For instance, the vehicle production volume of China in June 2022, hit over 2.4 million units.
The market research report on global automotive acoustic engineering also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), 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), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Key Market Players Featured in the Global Automotive Acoustic Engineering Market
Some of the key players of the global automotive acoustic engineering market are Harman International, Schaeffler Group, Head acoustics GmbH, FEV Group Gmbh, AVL List GmbH, Bertrandt AG, EDAG Engineering GmbH, Brüel & Kjær Vibro GmbH, Robert Bosch GmbH, Siemens Aktiengesellschaft, and others.
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