Press release
Automotive Testing and Validation Services Market to Reach USD 13.38 Billion by 2031, Growing at 8.1% CAGR
Automotive Testing and Validation Services
The global automotive testing and validation services market, valued at approximately USD 7.81 billion in 2023, is expected to grow to around USD 13.38 billion by 2031, registering a compound annual growth rate (CAGR) of approximately 8.1% during the forecast period from 2024 to 2031.
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Key Players:
Horiba Automotive
Bosch Global Software Technologies Private Limited (Bgsw)
AVL
Mts Systems Corporation
Siemens AG
Meidensha Corporation
Abb Ltd
Actia Group
Intertek Group Plc
Sgs Société Générale De Surveillance SA
Dekra SE
Others
Market Segmentation:
By Vehicle Type
• Passenger Cars
• Light Commercial Vehicles
• Electric Vehicles
• Heavy Commercial Vehicles (HCVs)
By Transmission
• Combustion Engines
• Electrical Technology
By Application
• Automotive Manufacturer
• Automotive Component Manufacturer
By Type
• Vehicle Emission Test Systems
• E-Mobility Testing
• Engine Dynamometers
• Fuel Cell Testing
• Chassis Dynamometers
• Light Commercial Vehicles
• Wheel Alignment Testers
• Others
Market Dynamics
Drivers:
The growth of the European automotive testing and validation services market is driven by three key factors:
1. Technological Advancements: The rise of electric vehicles (EVs), autonomous driving systems, and advanced driver-assistance systems (ADAS) has created a strong need for testing to ensure these technologies are safe, reliable, and effective.
2. Strict Regulations: Europe's tough safety, emissions, and environmental standards require extensive testing to ensure vehicles comply with evolving laws. This creates constant demand for validation services.
3. Focus on Safety and Quality: European consumers expect safe, high-quality vehicles. To meet these expectations, manufacturers invest in rigorous testing to maintain high performance and reliability standards.
These factors together drive the demand for specialized testing and validation services in the region.
Key Benefits of the Report:
This study presents the analytical depiction of the Automotive Testing and Validation Services Industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Automotive Testing and Validation Services Market share.
The current market is quantitatively analyzed from to highlight the Global Gardening Pots Market growth scenario.
Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed Automotive Testing and Validation Services Market analysis based on competitive intensity and how the competition will take shape in coming years.
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Gauri Dabi | Business Development
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Future Market Consulting
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