Europe Automotive System Simulation Software Market is expected to reach US$ 837.32 million by 2028

Published Date: 19 May 2022

Report : Europe Automotive System Simulation Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Transmission, Engine, Electric Propulsion, Fuel Cell, Driveline, Chassis, and Others), Vehicle Type (Commercial Vehicle, and Passenger Car), and Propulsion Type (ICE and Electric)

Engine Segment has the Largest Share of Type in the Europe Automotive System Simulation Software Market during 2021–2028

According to our latest study on “Europe Automotive System Simulation Software Market Forecast to 2028 – COVID-19 Impact and Analysis – by Type, Vehicle Type, and Propulsion Type,” the market is projected to reach US$ 837.32 million by 2028 from US$ 378.70 million in 2021; it is expected to grow at a CAGR of 12.0% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as upgrading of vehicle functions and increase in number of e/e components and growing production and sales of electric vehicles. However, possibility of invalid research outcomes hamper the market growth.

Based on type, the Europe automotive system simulation software market is segmented into transmission, engine, electric propulsion, fuel cell, driveline, chassis, and others. In 2020, engine segment accounted for the highest share of the market in the forecasted period. However the fuel cell segment registered the highest CAGR during the forecast period. The engine segment dominates the market as there is major demand for the engine system simulation software to develop fuel-efficient engine. Increasing government norms regarding the emission and focus on fuel efficiency enhancement drives the market growth.

Modelon AB , IPG Automotive GmbH ,ESI Group ,Ansys, Inc.,Hexagon AB , SimScale GmbH ,Gamma Technologies, LLC ,Siemens AG , dSPACE GmbH are among the leading companies in the Europe automotive system simulation software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The market for Europe automotive system simulation software market is segmented into type, vehicle type, and propulsion type. Based on type, the Europe automotive system simulation software market is segmented into transmission, engine, electric propulsion, fuel cell, driveline, chassis, and others. Based on vehicle type, the Europe automotive system simulation software market is segmented into commercial vehicle, and passenger car. Based on propulsion type the Europe automotive system simulation software market is segmented into ICE and electric. Geographically, the Europe automotive system simulation software market is segmented into Europe (France, Germany, UK, Italy, Russia and Rest of Europe).

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