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%.
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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.
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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.
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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.
According to a recent report published by Allied Market Research, titled, Active Seat Belt System Market by Component and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global active seat belt system market was valued at $9,814 million in 2016, and is projected to reach at $12,707 million by 2023, growing at a CAGR of 3.60% from 2017 to 2023.Access Full Summary at :https://www.alliedmarketresearch.com/active-seat-belt-system-market Asia-Pacific dominates this market at present, followed by Europe.
In 2016, China dominated the Asia-Pacific market; similarly, in year 2016, Germany led the overall market in Europe.
However, in North America, U.S. currently dominates the market.Factors such as rise in incidence of road accidents, increase in awareness towards automotive safety among consumers, growth of automotive safety norms, and high demand for luxury vehicles drive the global active seat belt systems market.
However, high cost of the active seat belt hampers this growth.Get sample report with Industry Insights @https://www.alliedmarketresearch.com/request-sample/2318In 2016, the pretensioner segment dominated the global active seat belt systems in component segment, in terms of revenue.
Furthermore, based on application, passenger cars led the global market, followed by commercial vehicle in 2016.
However, commercial vehicle segment is expected to depict the highest CAGR throughout the forecast period.Key Findings of the Active Seat Belt System Market:The passenger car segment generated the highest revenue in the global active seat belt systems market in 2016.In 2016, the pretensioner segment was the highest revenue contributor in the application segment.LAMEA is anticipated to exhibit the highest CAGR during the forecast period.Request for Customization of this report athttps://www.alliedmarketresearch.com/request-for-customization/2318In 2016, Asia-Pacific contributed the highest market share, followed by Europe, North America, and LAMEA.The key players profiled in the report include Autoliv, Inc., Continental Corporation, DENSO Corporation, Far Europe Holding Limited, Hyundai Mobis Co., Ltd., Ningbo Joyson Electronics Corp. (Key Safety Systems, Inc.), Takata Corporation, Tokai Rika Co., Ltd., Toyoda Gosei Co., Ltd., and ZF Friedrichshafen AG
Electric Trucks Market to Gain Impetus from Increasing Demand from Logistics Department.The global electric trucks market size is projected to gain momentum on account of the increasing demand from the transportation sector to suffice to the travel needs of the growing population worldwide.
Electric trucks run on batteries and are designed for delivering cargo.Electric Trucks Market: Rising Integration of V2X Connectivity Solutions to Spur OpportunitiesElectric Trucks Market Key Players Studied in this Report are Hyundai Mobis (Seoul, South Korea), Continental AG (Hanover, Germany), Koninklijke Philips (Amsterdam, Netherlands), Robert Bosch GmbH (Gerlingen, Germany), varroc group (Aurangabad, India), Valeo (Paris, France), Hella GmbH (Lippstadt, Germany), Denso (Aichi, Japan), Lear Corporation (Michigan, United States), OSRAM (Munich, Germany), Magneti Marelli (Corbetta, Italy).The increasing population, rise in urbanization and industrialization and the expansion of various businesses are the key factors promoting the global electric trucks market growth.
In addition to this, the increasing awareness about environmental degradation has propelled the governments of various nations to impose stringent regulations on carbon emission control.
This, coupled with the rise in prices of fuel is expected to add a boost to the overall growth of the market for electric trucks.The impact of the novel coronavirus is devastating.
The increasing patient pool and lack of enough medical staff and facilities have put the healthcare sector in a difficult situation.
Some other sectors are barely able to manage meagre revenue by operating within the four walls of their homes.On the contrary, the high cost of electric vehicles, coupled with the lack of a reliable charging infrastructure may cause hindrance to the market in the coming years.
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