Press release
Global Automotive Testing, Inspection, and Certification Market Anticipated to Reach a Value of US$24.8 bn by 2025
Market Research Hub
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Major Insights from the Study
As the name suggests, automotive testing, inspection and certification is an important procedure, performed by government certified agencies to check whether a vehicle is capable to meet the standards regarding vehicle set by the governing body of the respective country. Also, there are several standards set by each country about different parameters related to vehicles such as emission limit, number of airbags required, seat belts, and other safety features. According to the report, the global automotive testing, inspection, and certification market is expected to expand at a 11.11% CAGR over the period between 2017 and 2025.
This 285-page informative report begins with executive summary providing market overview, market analysis and market numbers based on key service type, sourcing type, place, and region. The next section of market introduction covers basics of the market for its readers including market definition and market taxonomy. Another important section of market viewpoint examines macroeconomic factors that work as drivers and restraints to growth of the global automotive testing, inspection and certification market. This section also shares future opportunities available in this market for new entrants as well as existing players.
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The report clearly defines market scenario by conducting geographical analysis, in which it highlights current and forecast demand for automotive testing, inspection, and certification in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. As per the key findings, Europe dominated the automotive testing, inspection, and certification market with 36.96% share in 2017. In the coming years, the market is likely to get a major boost in emerging markets such as Latin America and the Asia Pacific. It has been reported that the rising number of accidents, increasing automation in vehicles, advanced and more sophisticated components and features of a vehicle, increasing pollution, these are factors due to which demand for vehicle testing and inspection is increasing day by day.
The final section of the report encloses details about global automotive testing, inspection and certification market’s competitive landscape, which outlines key players operating in the global market. They are Intertek Group, TUV Nord Group, Applus+, TUV SUD, DNV GL, TUV Rheinland, ALS Limited, and Mistras Group, Inc.
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