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Automotive Quality Service Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | Dragon Solutions Ltd., Bureau Veritas, Intertek Group plc, Alten Group, FEV Group GmbH
Automotive Quality Service Global Market Report 2024
As per the report, the automotive quality service market size has grown strongly in recent years. It will grow from $24.19 billion in 2023 to $26.40 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The automotive quality service market size is expected to see strong growth in the next few years. It will grow to $37.93 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%.
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Rising Vehicle Production Boosts Automotive Quality Service Market
The increasing vehicle production is expected to propel the growth of the automotive quality service market. Vehicle production is increasing due to several factors such as economic growth, globalization, government incentives, and increasing consumer purchasing power. Automotive quality services are essential for ensuring that vehicles meet the highest standards of quality, safety, and reliability throughout the production process. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based trade association, in 2022, global motor vehicle production reached 85.4 million units, marking a 5.7% increase compared to the previous year. Therefore, increasing vehicle production is driving the growth of the automotive quality service market.
Contactless Service Enhances Safety And Convenience In Automotive Quality Service Market
Major players in the automotive quality service market are prioritizing the development of innovative solutions, such as hassle-free vehicle service, to enhance customer experience, streamline operations, and improve overall service quality. Hassle-free vehicle service denotes a seamless and convenient process for vehicle maintenance, repairs, and servicing, minimizing inconvenience for vehicle owners. For instance, in June 2021, BMW India, a subsidiary of the renowned German car manufacturer BMW, launched a contactless service for vehicle servicing. This initiative enables customers to engage in various activities, including exploring and purchasing new and pre-owned BMW cars, scheduling vehicle services, and conducting secure online transactions, all through the BMW Contactless Experience platform. Following service, the sanitized vehicle is delivered to the customer's preferred location, aligning with local government directives for safety. This innovative service aims to reduce customer interaction while enhancing safety and convenience throughout the vehicle servicing process.
The automotive quality service market covered in this report is segmented -
1) By Type: Testing Services, Certifying And Validating Services, Quality Sorting Services
2) By Vehicle Type: Passenger Cars, Commercial Vehicle
3) By Application: Electrical Systems And Components, Telematics, Vehicle Inspection Services, Homologation Testing, Interior And Exterior Materials, Other Applications
4) By End-User: Original Equipment Manufacturers (OEMs), Tier 1 And Tier 2 Suppliers, Aftermarket Service Providers, Regulatory Authorities
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Major companies operating in the automotive quality service market are Dragon Solutions Ltd., Bureau Veritas, Intertek Group plc, Alten Group, FEV Group GmbH, Horiba Ltd., Applied Technical Services Inc., Bertrandt AG, ARRK Product Development Group Ltd., EDAG Group, Altair Engineering Inc., TRIGO S.A., Stratosphere Quality LLC, ESG Elektroniksystem- und Logistik-GmbH, National Technical Systems Inc., Millbrook Proving Ground Limited, Matrix Quality Services Inc., Weiss Technik North America Inc., CSI S.p.A., Automotive Quality & Logistics Inc., Ashton Technologies Inc., Element Materials Technology Ltd., Quality Service Group, ASAP Holding GmbH, Dragon Solutions Ltd.
Contents of the report:
1. Executive Summary
2. Automotive Quality Service Market Report Structure
3. Automotive Quality Service Market Trends And Strategies
4. Automotive Quality Service Market - Macro Economic Scenario
5. Automotive Quality Service Market Size And Growth
…..
27. Automotive Quality Service Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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