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![]() ![]() The market is expected to be driven by the growing technological skills of Engineering Service Providers (ESPs) to offer R&D and product innovation in their products and solutions, OEM and government concentration on electric vehicles, innovative technologies with respect to vehicle and passenger safety, lightweight vehicles, etc. The market is expected to grow positively during the forecast period as economies are slowly recovering in the post-pandemic period. However, most automakers have resumed vehicle manufacturing with limited capacity and the safety measures in place. The impact of the pandemic was moderate on the automotive engineering services market. Vehicle sales took a hit as manufacturing sites throughout the world were shut down. ![]() Many countries imposed a complete lockdown for few months because of the COVID-19 pandemic, which hampered the production of vehicles. The COVID-19 outbreak has affected many industries across the world. The Automotive Engineering Services Outsourcing Market was valued at 76 billion in 2020, and it is projected to reach USD 253.9 billion by 2026, registering a CAGR of 27.5% from 2021 to 2026. ![]()
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