Asia Pacific to Be the Fastest Growing Market for Automotive Engineering

Thursday 9 February 2023, Amsterdam

Geographically, the automotive engineering services market has been segmented into North America, Europe, Asia-Pacific, and Rest of the World. Among these regions, the Asia-Pacific region is expected to be the fastest growing market for automotive engineering services during the forecast period. The increasing demand for zero-emission vehicles, rising commercial transport, and the presence of several automotive OEMs in the region are some of the key factors contributing to the market growth in Asia-Pacific. In addition, the advancements in technologies such as ADAS, battery management, and connectivity are also expected to increase the demand for automotive engineering services in the region.

The automotive engineering services market is expected to grow significantly in the coming years, driven by the increasing demand for advanced and eco-friendly vehicles, the adoption of new technologies, and the need for cost-effective and efficient engineering solutions.

Automotive OEMs and suppliers are constantly looking for ways to improve the performance and efficiency of vehicles, which is driving the growth of the market. The Asia-Pacific region is expected to be the major contributor to the growth of the market, due to the presence of several key players, favorable government policies, and increasing demand for advanced vehicles in the region.