Press release
Indian Automotive Testing Inspection Certification Market to Witness Huge Growth by 2031| SGS SA, Automotive Test Systems, The Automotive Research Association of India (ARAI).
Indian Automotive Testing Inspection Certification Market || 2024-2031
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What is the projected growth rate (CAGR) of the Global Indian Automotive Testing Inspection Certification market from 2024 to 2031, and what is the market value expected to change by 2031?
The Indian Automotive TIC (testing, inspection, certification) Market reached USD 845.17 million in 2023 and is projected to witness lucrative growth by reaching up to USD USD 3,638.78 million by 2031. The market is growing at a CAGR of 23.6% during the forecast period (2024-2031).
What is Indian Automotive Testing Inspection Certification Market?
The Indian Automotive Testing, Inspection, and Certification (TIC) Market focuses on services that ensure vehicle safety, compliance with regulations, and environmental standards. This market includes testing for performance, emissions, safety, and quality of automotive components and vehicles. Driven by the growing automotive industry, rising consumer awareness about vehicle safety, and stringent government regulations, the market is experiencing significant growth. Additionally, the push for electric vehicles and advanced driver-assistance systems (ADAS) is further propelling the demand for comprehensive TIC services in India.
Growth Driver
Growing Use of Electronic Systems in the Automotive Industry
Testing is a critical process that ensures manufactured products and component systems perform as intended. It takes place before, during, and after manufacturing to guarantee product quality. With the increasing reliance on electronic systems in vehicles, the demand for testing services has surged. These electronic systems require specialized attention during testing to maintain their efficiency and reliability.
Key Players:
Profiles of some of the major players in the global Indian Automotive Testing Inspection Certification market, which include SGS SA, Automotive Test Systems, The Automotive Research Association of India (ARAI), URS Products and Testing Pvt. Limited, iCAT, TÜV Rheinland, Embitel, Sigma Test & Research Centre, AVL List GmbH and DEKRA.
Industry Development:
On May 27, 2021, Automotive Test Systems opened a new testing facility for electric vehicles in Bangalore, India. This state-of-the-art facility will conduct a variety of tests on key components of electric vehicles, including e-axles, electric motors, and EV batteries.
On December 30, 2021, Omega Seiki Mobility (OSM), an electric vehicle manufacturer, announced a partnership with the Indira Gandhi Delhi Technical University for Women (IGDTUW) to establish a center of excellence and a research and development center in India. The two organizations signed a memorandum of understanding (MoU) to focus on creating a cutting-edge testing lab and EV battery charging infrastructure. As part of this collaboration, OSM will work closely with IGDTUW students on designing, testing, product development, prototyping, and manufacturing automotive components, as well as full vehicle development for electric vehicles, battery packs, and telematics.
The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Indian Automotive Testing Inspection Certification market.
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Market Segments:
The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.
By Type: Autonomous and Connected Vehicles, Automotive Fluids, Electrical Components and Electronics, Electro Mobility, Materials and Components, Engine and Gears, Environmental Testing, System Testing, Others.
By Product: Engine Dynamo Meter, Wheel Alignment Tester, Chassis Dynamo Meter, Vehicle Emission Tester, Transmission Dynamometer, Others.
By Vertical: Passenger Vehicle, Commercial Vehicle.
Regional Break out:
☞ North America - US, Canada, Mexico
☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe
☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific
☞ South America- Brazil, Argentina, Colombia, Rest of South America
☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel
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Key Features
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➧ Track competitor's movements in real time, allowing you to swiftly adapt strategies and remain competitive.
➧ Compare your performance with industry leaders to identify gaps, strengths, and areas for improvement.
➧ Stay updated with emerging market trends, technological advancements, and customer behaviour to refine your strategy.
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➧ Identify and target specific market segments with detailed intelligence on customer preferences and behaviours.
➧ Stay informed on regulatory changes and legal requirements impacting your industry to ensure compliance and mitigate risks.
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