Press release
Automotive Quality Service Market Size Forecasted To Achieve $41.44 Billion By 2029 With Steady Growth
Automotive Quality Service Market
What Is the Automotive Quality Service Market Size and Projected Growth Rate?
The automotive quality service market has experienced strong growth in recent years. It will grow from $26.4 billion in 2024 to $28.97 billion in 2025, with a CAGR of 9.7%. The growth is driven by stricter government regulations, rising consumer expectations, increased competition in the automotive sector, and the expansion of the aftermarket industry.
The automotive quality service market is projected to grow significantly in the coming years, reaching $41.44 billion by 2029 with a compound annual growth rate (CAGR) of 9.4%. The increase can be linked to the rise of electric vehicles (EVs) and autonomous vehicles, the adoption of Industry 4.0 technologies, greater use of data analytics and artificial intelligence, demand for higher quality and reliability, and the global expansion of the automotive industry. Notable trends include innovations in vehicle technologies, the integration of advanced driver assistance systems (ADAS), 3D printing, partnerships with technical schools, and AI-driven predictive maintenance.
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What Are the Major Segments in the Automotive Quality Service Market?
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
Subsegments:
1) By Testing Services: Durability Testing, Performance Testing, Emissions Testing, Safety Testing, Environmental Testing
2) By Certifying And Validating Services: Regulatory Certification, Process Certification, Product Validation, Supplier Audits
3) By Quality Sorting Services: Visual Inspection, Functional Sorting, Dimensional Sorting, Non-Destructive Testing (NDT), Sorting Of Non-Conforming Parts
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What Are The Driving Automotive Quality Service Market Evolution?
The growing vehicle production is expected to fuel the automotive quality service market. This increase in production is driven by factors such as economic growth, globalization, government incentives, and higher consumer purchasing power. Automotive quality services are essential for ensuring vehicles meet high standards of quality, safety, and reliability during production. In 2022, global vehicle production reached 85.4 million units, a 5.7% increase from the previous year, highlighting the rise in vehicle production and the corresponding need for automotive quality services.
Which Firms Dominate The Automotive Quality Service Market Segments?
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.
What Are the Major Trends Shaping the Automotive Quality Service Market?
Companies in the automotive quality service market are developing innovative multi-brand car repair and maintenance services to improve customer convenience, service accessibility, and cost-effectiveness while ensuring high-quality service. For example, in June 2024, CARS24, an India-based used car company, introduced Fourdoor, a multi-brand car repair and maintenance service. This service caters to all makes and models, providing comprehensive maintenance and repair services, distinguishing it from traditional brand-specific service centers.
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Which Is The Largest Region In The Automotive Quality Service Market?
North America was the largest region in the automotive quality service market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive quality service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Quality Service Market?
2. What is the CAGR expected in the Automotive Quality Service Market?
3. What Are the Key Innovations Transforming the Automotive Quality Service Industry?
4. Which Region Is Leading the Automotive Quality Service Market?
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