The global Automotive Testing & Inspection Market has experienced significant growth in recent years, owing to the ever-evolving automotive industry's needs for safety, quality, and compliance. As the automotive sector embraces technological advancements and innovation, the demand for reliable testing and inspection services has surged. In this comprehensive market research report, we will delve into various aspects of the Automotive Testing & Inspection Market, including segmentation, growth drivers, the competitive landscape, top key players, regional outlook, and much more. This analysis is aimed at providing industry stakeholders with valuable insights into the market's dynamics.
According to Reports and Insights analysis, the global automotive testing & inspection market was US$ 15.5 Billion in 2022.
Furthermore, the automotive testing & inspection market to register a CAGR of 3.4% which is expected to result in a market forecast value for 2031 of US$ 25.0 Bn.
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Segmentation of the Automotive Testing & Inspection Market
- Type of Testing
- Emissions Testing
- Safety Testing
- Vehicle Inspection Services
- Component Testing
- Others
- Application
- Vehicle Manufacturing
- Component Manufacturing
- Automotive Aftermarket
- Service Type
- Periodic Inspection Services
- Damage Assessment Services
- Quality Control & Certification Services
- Others
- End-user
- Original Equipment Manufacturers (OEMs)
- Independent Service Providers
- Government Agencies
- Others
Growth Drivers
- Stringent Regulatory Standards: Increasing government regulations and safety standards have mandated rigorous testing and inspection procedures for automotive manufacturers. This compels manufacturers to invest in these services.
- Technological Advancements: The integration of advanced technologies like IoT, AI, and automation in vehicles has led to more complex testing and inspection requirements, boosting the demand for specialized services.
- Globalization of the Automotive Industry: The global expansion of automotive manufacturing and the supply chain has resulted in a higher need for standardized testing and inspection procedures across borders.
- Consumer Awareness: Growing consumer awareness regarding vehicle safety and quality has influenced manufacturers to prioritize testing and inspection processes.
- Environmental Concerns: Escalating environmental concerns and the need to reduce emissions have led to an increased focus on emissions testing and related services.
- Growing Electric Vehicle (EV) Market: As the electric vehicle market continues to grow, specialized testing and inspection services for EV components and systems have become essential.
Competitive Landscape
The Automotive Testing & Inspection Market is highly competitive and fragmented, with various global and regional players vying for market share. Key players include:
- SGS Group
- Bureau Veritas SA
- TÜV SÜD AG
- Intertek Group Plc
- Element Materials Technology
- DEKRA SE
- Applus+
- Eurofins Scientific
- Mistras Group, Inc.
- Nitto Group
These companies are continually innovating and expanding their service portfolios to cater to the evolving needs of the automotive industry.
Market Size, Share, and Value
As of our last data update in September 2021, the global Automotive Testing & Inspection Market was valued at approximately. However, it's crucial to note that this market is dynamic and subject to rapid changes. Market size, share, and value are influenced by various factors, including technological advancements, regulatory changes, and industry trends. To get the most accurate and up-to-date figures, it is recommended to consult the latest market reports or databases.
The market share among key players is distributed based on their service offerings, geographical presence, and client relationships. These companies continually invest in research and development to maintain or expand their market share.
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Regional Outlook
The Automotive Testing & Inspection Market exhibits regional variations in demand and growth opportunities. Key regions influencing the market include:
- North America: The United States and Canada are prominent markets due to stringent regulations and the presence of major automotive manufacturers.
- Europe: European countries have well-established automotive industries, leading to a high demand for testing and inspection services.
- Asia-Pacific: With the rapid growth of the automotive sector in countries like China and India, the Asia-Pacific region is witnessing significant market expansion.
- Latin America: Emerging economies in Latin America offer growth potential as automotive production and regulatory standards increase.
- Middle East & Africa: The Middle East and Africa are expected to grow steadily as the automotive industry gains traction in these regions.
In recent years, the Asia-Pacific region has seen the highest growth rate in the Automotive Testing & Inspection Market, driven by the expansion of the automotive industry and increasing quality and safety standards.
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The Automotive Testing, Inspection and Certification (TIC) sector consists of conformity assessment bodies that provide services ranging from auditing and inspection, to testing, verification, quality assurance and certification.The rising number of accidents, increasing automation in vehicles, advanced and more sophisticated components and features of a vehicle, increasing pollution, these are factors due to which demand for vehicle tasting and inspection is increasing day by day.In 2017, Europe dominated the automotive testing, inspection, and certification market with 43.7% share, thanks to the presence of some of the world?s leading automotive manufacturers and a steadily expanding domestic automotive industry.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-automotive-testing-inspection-certification-2019-2024-114North America also accounts for a significant share in the global market owing to the well-established automotive sector.
In regions like Europe and North America, stringent rules for periodic vehicle inspection and testing are laid down so as to ensure the safety of human life.
These regulations are also key drivers for the automotive testing, inspection, and certification market in these regions.According to this study, over the next five years the Automotive Testing, Inspection, and Certification market will register a 5.4% CAGR in terms of revenue, the global market size will reach US$ 18200 million by 2024, from US$ 14000 million in 2019.
In particular, this report presents the global revenue market share of key companies in Automotive Testing, Inspection, and Certification business, shared in Chapter 3.This report presents a comprehensive overview, market shares and growth opportunities of Automotive Testing, Inspection, and Certification market by product type, application, key companies and key regions.This study considers the Automotive Testing, Inspection, and Certification value generated from the sales of the following segments:Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.TestingInspectionSegmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.Passenger CarsCommercial VehiclesThis report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapanKoreaSoutheast AsiaIndiaAustraliaEuropeGermanyFranceUKItalyRussiaSpainMiddle East & AfricaEgyptSouth AfricaIsraelTurkeyGCC CountriesThe report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.
The key manufacturers covered in this report: Breakdown data in in Chapter 3.DEKRAT?V S?D GroupBureau VeritasApplus ServicesSGS GroupIntertek GroupT?V Rheinland GroupT?V Nord GroupResearch objectives:To study and analyze the global Automotive Testing, Inspection, and Certification market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.To understand the structure of Automotive Testing, Inspection, and Certification market by identifying its various subsegments.Focuses on the key global Automotive Testing, Inspection, and Certification players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the Automotive Testing, Inspection, and Certification with respect to individual growth trends, future prospects, and their contribution to the total market.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).To project the size of Automotive Testing, Inspection, and Certification submarkets, with respect to key regions (along with their respective key countries).To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.To strategically profile the key players and comprehensively analyze their growth strategies.Get the Complete Report & TOC @ https://www.grandresearchstore.com/automotive-and-transportation/global-automotive-testing-inspection-certification-2019-2024-114Table of content1 Scope of the Report1.1 Market Introduction1.2 Research Objectives1.3 Years Considered1.4 Market Research Methodology1.5 Economic Indicators1.6 Currency Considered2 Executive Summary2.1 World Market Overview2.1.1 Global Automotive Testing, Inspection, and Certification Market Size 2014–20242.1.2 Automotive Testing, Inspection, and Certification Market Size CAGR by Region2.2 Automotive Testing, Inspection, and Certification Segment by Type2.2.1 Testing2.2.2 Inspection2.2.3 Certification2.3 Automotive Testing, Inspection, and Certification Market Size by Type2.3.1 Global Automotive Testing, Inspection, and Certification Market Size Market Share by Type (2014–2019)2.3.2 Global Automotive Testing, Inspection, and Certification Market Size Growth Rate by Type (2014–2019)2.4 Automotive Testing, Inspection, and Certification Segment by ApplicationCONTACT US:276 5th Avenue, New York , NY 10001,United StatesInternational: (+1) 646 781 7170 / +91 8087042414Email: [email protected] Us On linkedin :- https://www.linkedin.com/company/grand-research-store/
