Automotive Acoustic Engineering Services Global Market Report 2023

New York, April 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Acoustic Engineering Services Global Market Report 2023" -
, STS Group AG, IAC Acounstics, Carcoustics, 3M, Dun & Bradstreet Inc., and AZL Aachen GmbH.
The global automotive acoustic engineering services market grew from $7 billion in 2022 to $7.81 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive acoustic engineering services market is expected to grow to $11.75 billion in 2027 at a CAGR of 10.8%.
The automotive acoustic engineering services market includes revenues earned by entities by providing services such as aeroacoustics, audio signal processing.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Automotive acoustic engineering services refer to the services that are used in the process of noise cancellation from various car components to the point where it has no effect on the vehicle's interior or exterior environment.
Asia-Pacific was the largest region in the automotive acoustic engineering services market in 2022. The regions covered in the automotive acoustic engineering services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of automotive acoustic engineering services are physical acoustic testing and virtual acoustic testing.Physical acoustic testing refers to services used to measure sound, noise, and vibration.
The software involved vibration, simulation, signal analysis, and calibration.The types of vehicles are passenger vehicles, commercial vehicles, and electric vehicles.
The various applications include interior, body and structure, powertrain, and drivetrain.
Increasing sales of SUVs and MUVs are expected to propel the growth of the automotive acoustic engineering services market going forward.Sports utility vehicles (SUVs) refer to a class of vehicle that is elevated off the ground, frequently has four-wheel drive, and has a rough appearance.
Automotive acoustic engineering services help SUVs and MUVs by providing soundproofing solutions to lower engine noise.For instance, in December 2021, according to an article shared by the International Energy Agency, a France-based autonomous intergovernmental organization, throughout the pandemic, global SUV sales have been shown to be remarkably resilient, increasing by more than 10% between 2020 and 2021.
SUV sales are expected to reach a new high in 2021 in terms of volume and market share, accounting for more than 45% of all new car sales worldwide.SUV sales are still rising quickly in several nations, including the United States, India, and Europe.
Therefore, increasing sales of SUVs and MUVs are driving the automotive acoustic engineering services market.
Technological advancements are a key trend gaining popularity in the automotive acoustic engineering services market.Major companies operating in the automotive acoustic engineering services market are introducing new technologies to sustain their position in the market.
For instance, in February 2020, Hyundai, a South Korea-based automotive company, and HARMAN International, a US-based subsidiary of Samsung Electronics Co, launched the world's first active system for road-noise cancellation, Road-Noise Active Noise Control (RANC) system.By cancelling out undesirable noise coming from the tyres and road surfaces during driving, it lowers the noise level within the cabin.
It is built on HALOsonic suite of noise cancellation technology and reduces unwanted noise by up to 50% to combat road noise and enhance driving experience.
In November 2021, Alder Pelzer Group, a Germany-based producer of acoustic and thermal components for the automotive sector, acquired Faurecia's acoustic and soft trim business for an undisclosed amount.This acquisition is expected to help Alder Pelzer Group to take another step towards realising its aim of becoming the world leader in automotive acoustics as an industrial investor with a long history of support for the automotive industry and a track record of expansion.
Faurecia is a France-based automobile company that deals in automotive seating, interiors, and emissions control technologies.
The countries covered in the automotive acoustic engineering services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive acoustic engineering services market research report is one of a series of new reports that provides automotive acoustic engineering services market statistics, including automotive acoustic engineering services industry global market size, regional shares, competitors with automotive acoustic engineering services market share, detailed automotive acoustic engineering services market segments, market trends and opportunities, and any further data you may need to thrive in the automotive acoustic engineering services industry. This automotive acoustic engineering services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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