Report Id: SNS/AUTO/2006 | June 2022 | Region: Global | 125 Pages
Report Scope & Overview:
Automotive Acoustic Engineering Services Market Size was valued at USD 3.22 billion in 2021 and is expected to reach USD 5.39 billion by 2028 and grow at a CAGR of 7.6% over the forecast period 2022-2028.
An automotive acoustic engineering service may be defined as the process of noise cancellation from various vehicular components to such an extent that it does not damage either the interior or exterior environment of the vehicle. Due to the fact that various components in an automobile, such as the engine and the motor, have wider applicability, they eventually make noise that is unacceptable; this noise can be managed with the assistance of acoustic engineering services. These various services have been used by multiple car manufacturers as a means of reducing the noise that their vehicles produce, hence finding a wider reach in the market internationally. Additionally, with the introduction of modern automobiles across the globe, several noise reduction strategies in the form of software have been launched. This has a substantial contribution to make to the growth of the global automotive acoustic engineering services market.
In April 2022, Robert Bosch debuted a cutting-edge collision warning system that is designed specifically for forklifts. The new collision warning system provides both audible and visual signals to forklift drivers when they are operating in potentially hazardous situations.
Regulations imposed by the government with regard to the volume of vehicle noise.
A growing preference among consumers for upgraded levels of cabin comfort and luxury amenities.
An increase in the number of sales of luxury automobiles.
The market is hampered by the availability of various testing equipment based on the kind of vehicle.
Enterprises choose to rent acoustic testing equipment, stifling the market.
Rental and used acoustic testing equipment is becoming more popular.
An increase in the trend of engine reduction is expected to provide profitable chances for growth.
Increasing tendency toward the downsizing of engines.
High starting costs and difficulty entering the market.
Problems with noise pollution caused by electric vehicles.
IMPACT OF COVID-19:
The global epidemic known as COVID-19 has caused a loss in the automotive industry that has never been seen before. There has been a significant drop in the sales of automobiles all over the world, which can be attributed to the fact that various manufacturing operations have been temporarily halted. Because of this, the market's growth prospects are becoming more limited. The government, on the other hand, is employing every strategy at its disposal in an effort to restore economic normalcy, which, in turn, will foster the expansion of the market in the not-too-distant future. There have already been some warnings from a few corporations about delays in product deliveries and declines in sales in the future. Global travel bans imposed by Europe, the Asia-Pacific, and North America are also affecting commercial partnerships and partnership opportunities in these regions.
KEY MARKET PLAYERS:
Siemens Industry Software Inc., Robert Bosch, AVL, Bertrandt AG, Brüel & Kjær, EDAG Engineering GmbH, FEV Group GmbH, HEAD acoustics GmbH, Autoneum, Schaeffler Engineering GmbH, and STS Group AG are some of the affluent competitors with significant market share in the Automotive Acoustic Engineering Services Market.
Market, By Offering:
The global market has been divided into Physical Acoustic Testing, and Virtual Acoustic Testing based on the type segment. Because of the increasing use of virtual testing systems for promptly identifying problems in vehicles, the virtual testing industry currently holds a 49 percent market share and is expected to rise significantly over the next several years. This is due to the fact that virtual testing systems can detect faults more quickly and accurately than traditional testing methods.
Market, By Application:
The global market has been divided into Interior, Body & Structure, Powertrain, and Drivetrain based on the application segment. As a result of the increased demand for car cabins that are comfortable, secure, and free of noise, the interior category is anticipated to dominate the market during the period covered by the forecast. It is predicted that the powertrain category would be the second-largest market segment over the forecast period. Noise pollution and disruption to drivers are caused by powertrain components.
Market, By Vehicle Type:
The global market has been divided into passenger cars and commercial vehicles based on the vehicle type segment. During the projection period, the passenger car category is expected to hold the greatest share of the market. The market for commercial vehicles is likely to develop significantly during the next few years.
Physical Acoustic Testing
Virtual Acoustic Testing
Body & Structure
By Vehicle Type:
The worldwide market for automotive acoustic engineering services has been divided into four primary regions: North America, Europe, Asia-Pacific, and the Rest of the World. It is anticipated that the Europe region will hold a significant market share throughout the period of the forecast due to the robust relationships that exist between acoustic engineering service providers located in that region and the major automotive OEMs and tier-1 suppliers who work with those OEMs. On the other hand, it is anticipated that the Asia Pacific will experience significant expansion in the global market. This is due to the increasing production of automobiles in China, India, and other ASEAN countries, in addition to stringent government regulations regarding safety, noise, and emissions.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2021||US$ 3.22 Billion|
|Market Size by 2028||US$ 5.39 Billion|
|CAGR||CAGR of 7.6% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Offering (Physical Acoustic Testing, Virtual Acoustic Testing)
• by Application (Interior, Body & Structure, Powertrain, Drivetrain)
• by Vehicle Type (Passenger cars, Commercial vehicles)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Siemens Industry Software Inc., Robert Bosch, AVL, Bertrandt AG, Brüel & Kjær, EDAG Engineering GmbH, FEV Group GmbH, HEAD acoustics GmbH, Autoneum, Schaeffler Engineering GmbH, and STS Group AG|
|Key Drivers||•Regulations imposed by the government with regard to the volume of vehicle noise.
•A growing preference among consumers for upgraded levels of cabin comfort and luxury amenities.
|RESTRAINTS||•The market is hampered by the availability of various testing equipment based on the kind of vehicle.
•Enterprises choose to rent acoustic testing equipment, stifling the market.
Frequently Asked Questions (FAQ) :
Ans:- The market forecast period is 2021-2028 according to the study report.
Ans:- Offerings, Applications, and Vehicle types are the different segments of the market.
Ans:- High starting costs and problems with noise pollution caused by electric vehicles are the most significant obstacles facing the Automotive Acoustic Engineering Services Market.
Ans:- Raw material vendors, Distributors/traders/wholesalers/suppliers, including government agencies and NGOs, Commercial research & development (R&D) institutions, Importers and exporters, Trade/Industrial associations, and End-use industries are the stakeholder of this report.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of the Ukraine-Russia War
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Automotive Acoustic Engineering Services Market Segmentation, By Offerings
8.1 Physical Acoustic Testing
8.2 Virtual Acoustic Testing
9. Global Automotive Acoustic Engineering Services Market Segmentation, By Application
9.2 Body & Structure
10. Global Automotive Acoustic Engineering Services Market Segmentation, By Vehicle Type
10.1 Passenger cars
10.2 Commercial vehicles
11. Regional Analysis
11.2 North America
11.2.1 the USA
11.3.2 the UK
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Siemens Industry Software Inc.,
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Robert Bosch
12.3 Bertrandt AG
12.4 Brüel & Kjær
12.5 EDAG Engineering GmbH
12.6 FEV Group GmbH
12.7 HEAD acoustics GmbH
12.9 Schaeffler Engineering GmbH
12.10 STS Group AG
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of the good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brainstorming sessions to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploaded on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.