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Automotive Acoustic Engineering Services Market Expected to Reach $4.80 Billion by 2027

 

quote By offering, the virtual acoustic testing dominated the global market in 2019, in terms of revenue, and is expected to lead the market throughout the forecast period. Depending on software, the simulation segment incurs a higher share. At present, Asia-Pacific is the highest revenue contributor, and is expected to continue this trend during the forecast period, followed by Europe. quote

Abhay Singh
Lead Analyst, Automotive and Transportation at Allied Market Research

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According to a recent report published by Allied Market Research, titled, “Automotive Acoustic Engineering Services Market by Offering, Software, Application, and Vehicle Type: Opportunity Analysis and Industry Forecast, 2020–2027,” the global automotive acoustic engineering services market was valued at $2.61 billion in 2019, and is projected to reach $4.80 billion by 2027, registering a CAGR of 7.8%.

Asia-Pacific dominates the market in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the global automotive acoustic engineering services market share in 2019; however, Japan is expected to grow at a significant rate during the forecast period, due to increase in production and sales of vehicles across the country.

Acoustics in vehicles are used for noise cancellation from different components of vehicle. A vehicle is equipped with several components such as engine, suspensions, and trims, which are designated to perform their specific tasks; hence they produce unbearable noise, which disturbs the inner environment of the vehicle as well as the vehicle surroundings. Thus, to reduce this extra noise, automotive acoustic engineering services have been introduced to reduce the vehicle noise to a notable extent.  

Numerous types of acoustic testing methodologies have been introduced by the service providers, which led to the growth of the global market. In addition, several types of software have been introduced to determine the noise arising from vehicular components, and depending on the observations, noise is reduced to a level at which it does not affect the passenger and passerby of the vehicle.

By offering, the market is categorized into physical acoustic testing and virtual acoustic testing. On the basis of observation, virtual acoustic testing is projected to be the largest segment in the global market, due to surge in adoption of virtual acoustic testing services by vehicle manufacturers. By application, the interior segment is the highest revenue generator, and is projected lead the market throughout the forecast period, due to surge in demand for superior acoustic components to be installed in interiors of vehicles that reduce external noises.  

The growth of the global automotive acoustic engineering services market is majorly driven by implementation of stringent government regulations pertaining to reduction of vehicle noise and surge in customer preference for enhanced cabin comfort & luxury features. However, high investment cost related to automotive acoustic engineering services have led to shift in consumer preference toward the usage of rental and used acoustic testing equipment, which notably hampers the growth of the global market. Conversely, rise in trend of engine downsizing is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.

Key Findings Of The Study

  • By software, the vibration segment is expected to register a significant growth during the forecast period.

  • Depending on application, the interior segment is anticipated to exhibit significant growth in the near future.

  • On the basis of vehicle type, the electric vehicle segment is projected to lead the global automotive acoustic engineering services market, as the segment is expected to register higher CAGR as compared to other vehicles.

  • Asia-Pacific is anticipated to register the highest revenue during the forecast period.

The key players analyzed in this report are AVL, Autoneum, Bertrandt AG, Brüel & Kjær, EDAG Engineering GmbH, FEV Group GmbH, HEAD acoustics GmbH, Schaeffler Engineering GmbH, Siemens Industry Software Inc., and STS Group AG.

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quote Automotive Acoustic Engineering Services Market by Offering (Physical Acoustic Testing and Virtual Acoustic Testing), Software (Vibration, Simulation, Signal Analysis and Calibration), Application (Interior, Body & Structure, Powertrain and Drivetrain), and Vehicle Type (Passenger Vehicle, Commercial Vehicle, and Electric Vehicle): Global Opportunity Analysis and Industry Forecast, 2020–2027 quote

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