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Automotive Testing, Inspection and Certification Market Trends, Growth, Share, Size And Forecast 2033
Automotive Testing, Inspection and Certification Market
The Business Research Company offers in-depth market insights through Automotive Testing Inspection and Certification Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The automotive testing, inspection and certification market size has grown steadily in recent years. It will grow from $20.58 billion in 2023 to $21.17 billion in 2024 at a compound annual growth rate (CAGR) of 2.8%. The growth in the historic period can be attributed to increasing complexity of automotive technologies, stringent government regulations for vehicle safety and emissions, globalization and expansion of automotive supply chains, growing consumer awareness and demand for quality and safety, increased automobile production.
The automotive testing, inspection and certification market size is expected to see steady growth in the next few years. It will grow to $24.03 billion in 2028 at a compound annual growth rate (CAGR) of 3.2%. The growth in the forecast period can be attributed to rising adoption of electric and hybrid vehicles, increasing focus on sustainable and eco-friendly certification processes., increasing complexity of automotive technologies, stringent regulatory landscape, growing demand for enhanced safety and comfort. Major trends in the forecast period include technological advancements in testing and inspection equipment, rise in demand for third-party testing and certification services, development of integrated and automated testing solutions, growing importance of data analytics in testing and inspection, shift towards virtual testing and simulation for efficiency and cost-effectiveness.
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Market Segmentation:
The automotive testing, inspection and certification market covered in this report is segmented -
1) By Service Type: Testing Services, Inspection Services, Certification Services, Other Services
2) By Sourcing Type: In-house, Outsourced
3) By Application: Electrical Systems and Components, Telematics, Interior and Exterior Materials and Components, Fluids and Lubricants, Vehicle Inspection Services, Homologation Testing, Other Applications
Major Driver - Automobile Production Boosts Growth Of Automotive Testing, Inspection, And Certification Market
An increase in automobile production is expected to propel the growth of the automotive testing inspection and certification market going forward. Automobiles refer to passenger vehicles with four wheels and an internal combustion gasoline or diesel engine, and are intended for use on public highways. Automotive testing, inspection, and certification help automobiles to be safe and strong and assist in proving the longevity of the engine or shocks. For instance, in March 2021, according to the Society of Indian Automobile Manufacturers, an India-based national body representing the Indian automobile industry, sales of commercial vehicles grew overall, rising from 5.7 million to 7.2 million units. From April 2021 to March 2022, compared to the prior year, sales of medium and heavy commercial vehicles climbed from 1.6 million to 2.4 million units, and sales of light commercial vehicles increased from 4 million to 4.8 million units. Furthermore, according to the Alliance for Automotive Innovation, a US-based trade association, automotive sales will increase by 14 million units in 2020. Therefore, the increase in automobile production is driving the growth of the automotive testing inspection and certification market.
Competitive Landscape:
Major companies operating in the automotive testing, inspection and certification market report are SGS SA, Bureau Veritas SA, Intertek Group plc, Dekra SE, Applus Services SA, Eurofins Scientific SE, MISTRAS Group Inc., Element Materials Technology, The British Standards Institution, TUV Nord Group, NSF International, RINA SpA, ALS Limited, DNV GL, Robert Bosch GmbH, Exova Group Limited, SAI Global Limited, Lloyd's Register Group Limited, Kiwa NV, National Technical Systems Inc., BSI Group, National Testing Service, Technischer Überwachungsverein Süd, Aerovate Certification B. V., Movon Corporation, Automotive Technology and Information Consulting Co. Ltd., 3M Company, Hager Group, Siemens AG, Mitsubishi Electric Corporation, NXP Semiconductors NV, Infineon Technologies AG, Continental AG, ZF Friedrichshafen AG, Magna International Inc., Delphi Automotive plc
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Top Trend - Increasing Focus On Enhancing Customer Experience To Gain A Competitive Edge
Major companies operating in the automotive testing inspection and certification market are focused on enhancing the customer experience to gain a competitive edge in the market. Enhancing customer experiences through technology and innovation involves seamless digital interfaces, personalized recommendations, and efficient problem-solving, ultimately fostering stronger brand loyalty and satisfaction. For instance, in April 2022, SGS S.A., a Switzerland-based provider of automotive inspection, verification, testing, and certification services, introduced a Digital Hub with the goal of enhancing the customer experience. This Digital Hub's objective is to scale up the digitalization of customer journeys and assist SGS in achieving its commitment to digitalize 30% of its customer journeys by 2023. The Digital Hub employs agile and digital approaches to create innovative solutions that cater to customer requirements and expectations. Through the utilization of technology, SGS strives to offer customers swifter, more convenient, and consistently high-quality services while retaining a human touch.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Testing Inspection and Certification Market Characteristics
3. Automotive Testing Inspection and Certification Market Trends And Strategies
4. Automotive Testing Inspection and Certification Market - Macro Economic Scenario
5. Automotive Testing Inspection and Certification Market Size And Growth
…..
27. Automotive Testing Inspection and Certification Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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