Global Automotive Engineering Services Outsourcing Market USD 416.28 Billion by 2027.Global Automotive Engineering Services Outsourcing Market reached USD 76 Billion in 2020. The Global Automotive Engineering Services Outsourcing Market tends to grow by a CAGR of 27.5% in the 2021-2027 period. Vehicle manufacturing contains an ample number of ancillaries, and that costs a huge amount to every organization. Hence, auto manufacturers and OEMs started to outsource the services to save their costs and product viability. Auto ancillary companies deal in specific automobile parts, these companies work as a supplier for the major auto manufacturer vehicles All this process saves cost and time for the auto manufacturer, thus driving this market. High setup cost, along with heavy demand and less production of spare parts in the market is a drawback. As this market is still developing, there is a great potential for growth in coming years. The on-shore market is accounted for the largest market in the location segment, due to their latest technology of design and provide legal limits to OEMs. In application types, body chassis held the most market share because of the growing demand for the lightweight vehicle in the market. IAV and Massachusetts Institute of Technology (MIT) launched a joint research project for alternative propulsion system on which they are comparison and evolution the outcome and efficiency of the drive used.

Due to the low-cost manpower in the Asia Pacific mainly in China and India, key players under OEMs are outsourcing their production, this helps the regions to account for the largest number of market share in the worldwide market. In the forecasted period, South America is expected to grow higher in respect of CAGR number, due to their government initiative of developing the electric and hybrid vehicle's model faster.

Major market players included in this report are:
AVL
Bertrandt AG
EDAG Engineering GmbH
IAV GmbH
Altran
Horiba Ltd.
FEV Group
Kistler Instruments AG
GIGATRONIK
RLE International Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Application Type:
Designing
Prototype
System Integration
Testing
By Location Type:
On-shore
Off-shore
By Propulsion Type:
IC Engines
Electric Vehicles
Hybrid Vehicles
By Vehicle Type:
Passenger Vehicle
Commercial Vehicles
By Region:
North America
The U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, the years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Automotive Engineering Services Outsourcing Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors