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Europe Automotive Acoustic Engineering Services Market Forecast 2021-2028

KEY FINDINGS
The Europe automotive acoustic engineering services market growth is predicted to evolve at a CAGR of 7.11% during the forecast period, 2021-2028. The rising advancements by key manufacturers of acoustic engineering services are projected to offer lucrative growth opportunities for the market under study.

MARKET INSIGHTS
The Europe automotive acoustic engineering services market growth assessment includes the analysis of Belgium, Poland, Russia, Germany, the United Kingdom, Italy, France, and the rest of Europe. In 2019, the new car market recorded the highest total of new passenger vehicle registration in Germany since 2009. Also, there was an increase in the sales of commercial trucks, heavy vehicles, and motorcycles. SUVs were the dominant and prominent segment in 2019. Further, electric car sales increased by 76%. Also, the year 2019 saw several new EV registrations, witnessing an increase of almost 61% from that of 2018. This elevated the country's position as the largest electric-car market in the European Union. Such factors are expected to influence the market growth of Germany.
In Russia, as per the national strategy of the federal government for automotive development, up to 90% of all finished vehicles are to be produced with localized capacity. The localization rates include 70-80%. This also involves EVs. Moreover, the production of electric vehicles will boost market growth in Russia. Such factors are set to enhance the automotive acoustic engineering services market growth in Russia.

COMPETITIVE INSIGHTS
Some of the esteemed companies in the market include, STS Group AG, Autoneum, Brüel & Kjær, Schaeffler Engineering GmbH, FEV Group GmbH, etc.

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Europe Automotive Acoustic Engineering Services Market Forecast 2021-2028
Published By :Inkwood Research
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