PUBLISHER: DataM Intelligence | PRODUCT CODE: 1272787
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1272787
Japan automotive TIC (testing, inspection, certification) market reached around US$ 2 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 3 billion by 2030. The market is growing at a CAGR of 3.5% during the forecast period (2023-2030).
The testing, inspection and certification (TIC) sector is crucial in ensuring that the cars made by automakers adhere to the necessary norms and laws. The automotive TIC market in Japan is an established one with a lengthy history. Over the years, the market has been steadily expanding as a result of factors like tightening regulations, growing consumer awareness and the growing significance of quality and safety in the automotive sector.
When it comes to auto safety and pollution, Japan has some of the harshest laws. For instance, the government requires that all vehicles three years old or older undergo routine inspections. The checks examine noise and emission levels as well as safety features including brakes, steering and suspension. The Japanese automotive TIC market is expanding as a result of the enormous demand it generates for testing and certification services.
The Japanese automotive TIC market is extremely competitive, with numerous local and foreign competitors providing comparable services. Price rivalry has resulted from this, which may put pressure on industry companies' profit margins. For testing and certification services, the automotive TIC industry needs specialized tools and infrastructure. For instance, purchasing and maintaining emissions testing equipment might be expensive. It may make it more difficult for new competitors to enter the market and raise operational costs for already established ones.
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).
Japan automotive TIC (testing, inspection, certification) market is segmented based on type, product and vertical.
Over 25% of the market is expected to be occupied by engine and gear testing during the forecast period. Engine and gear testing is the collective term for a number of procedures used to evaluate the performance and quality of the construction of engine and gearbox components. To evaluate the quality of their construction, fatigue and thermal stress tests are performed on engine parts such connecting rods, crankshafts, timing chains and camshafts. The increased testing frequency brought on by increased friction and normal engine & gear wear and tear is the main factor driving the expansion.
The major global players include SGS SA, Bureau Veritas, Intertek Group Plc, URS Products and Testing Pvt. Limited, ICAT, TUV Rheinland, Embitel, Sigma Test & Research Centre, AVL List GmbH and DEKRA.
The Japan automotive TIC (testing, inspection, certification) market report would provide approximately 39 tables, 44 figures and 202 pages.
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