Reports and Insights predicts that the global automotive testing & inspection market is expected to grow at a CAGR of 2.6% during the forecast period from 2022 to 2030. Furthermore, the total value of the global automotive testing & inspection market is slated to reach US$ 1,893.9 Mn by 2030, rising from US$ 1,550.1 Mn in 2022.
The level of the production process is raised thanks to TIC services, which test, inspect, and certify items by international regulations. The process of certifying automobiles or a specific component by the standards set by various legal regulatory entities is known as automotive certification. To meet the regulatory requirements, the automotive industry must undergo testing and certification.
Market Report Outlook:
This report on the global automotive testing & inspection market aims to discuss market dynamics, including market drivers, potential threats and challenges to the market, global automotive testing & inspection market opportunities for the major players, global automotive testing & inspection market trends, market segmentation outlook, regional outlook, global automotive testing & inspection market size, market forecast, market share, as well as the major players operating in the global automotive testing & inspection market.
Automotive Testing & Inspection Market: Dynamics
The Internet of Things (IoT) is a system of interconnected computing devices that exchange information and work together to complete activities on their own. As smart digital systems are utilized more frequently, software testing will become just as important as hardware testing, along with hardware inspection and software connection testing for remote devices. The Automotive TIC Market will grow during the forecast period thanks to such technological developments and testing accessibility.
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The globalization of trade and business may hinder the acceptance of items because of locally specific norms and standards. This leads to disagreements between national and international norms, which prevents market expansion. Various regions have different regulatory requirements, which results in variations in tax rates and added expenses for businesses. Businesses involved in TIC must follow regional regulations.
Despite a few limitations on the market for automotive testing, inspection, and certification (TIC) that are anticipated to impede its potential growth, such as diverse regulations or standards across regions and a decline in global vehicle sales, the market's potential growth in the aforementioned forecast period may be constrained by the lengthy lead time required for overseas qualification tests.
The expansion in the use of electric and hybrid vehicles as well as government approval of periodic technical inspection (PTI) of automobiles are further development prospects for the automotive testing, inspection, and certification (TIC) industry.
Automotive Testing & Inspection Market: Regional Outlook
North America, Latin America, Europe, China, Asia Pacific, the Middle East, and Africa are the crucial regional areas to understand the global expansion of the global automotive testing & inspection market.
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The Asia Pacific region now dominates the global market, and this is expected to remain the case for the foreseeable future. Due to the region's rise in economies, rise in per capita income, increased demand, and greater investment prospects due to favorable government regulations, automakers are interested in expanding their production capacity there.
The demand for electric vehicles is predicted to enhance auto manufacturing, which will result in a significant market expansion in North America the following year. The United States of America tops the list of key Automotive TIC Market nations in this region.
Automotive Testing & Inspection Market: Key Players
The prime players in the global automotive testing & inspection market are; Applus+, ATESTEO GmbH & Co. KG, Bureau Veritas S.A., Dekra SE, DNV GL, Element Materials Technology Ltd., Eurofins Scientific SE, HELLA GmbH & Co. KGaA, Intertek Group Plc., Lloyd’s Register Group Limited, Mistras Group, Norges Elektriske Materiellkontroll (NEMKO), SGS S.A., TUV Nord Group, TUV Rheinland Ag Group, and TUV SUD amongst others.
Automotive Testing & Inspection Market: Segmentation Outlook
Data for growth projections and estimates are included in this study for the Test Type segment (Dust Tests, Gear Shift Analysis, Heat, Humidity, and Cold Tests, High-Pressure Jet Cleaner Tests, Immersion and Pressure Tightness Tests, Longitudinal Dynamics Tests, Noise Tests, Splash Tests, and Vibration Tests); for the Product Type segment (Chassis Dynamometer, Engine Dynamometer, Vehicle Emission Test System, and Wheel Alignment Tester); for the Vehicle Type segment (Commercial Vehicles, Passenger vehicles); for the End market segment (Authorized Service Centers, OEM Assembly Points, and OEM/R&D/Technical Centers). The automotive testing and inspection market forecast period is 2022 to 2030.
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