PUBLISHER: The Business Research Company | PRODUCT CODE: 1392497
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392497
“Automotive Testing, Inspection and Certification Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive testing, inspection and certification market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive testing, inspection and certification? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive testing, inspection and certification market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Automotive testing, inspection, and certification are essential processes for verifying that automotive vehicles and their components adhere to regulatory and statutory standards, ensuring they meet customer expectations and comply with safety and quality requirements. These services play a crucial role in confirming that automotive products meet established industry standards.
The key service categories within automotive testing, inspection, and certification encompass testing services, inspection services, certification services, and additional specialized services. Automotive testing services involve subjecting complete vehicles or individual components to a battery of laboratory tests to guarantee their compliance with quality standards. These services can be sourced either in-house or through outsourcing. Various applications of automotive testing, inspection, and certification include evaluating electrical systems and components, telematics, interior and exterior materials and components, fluids and lubricants, vehicle inspection services, homologation testing, and other relevant areas. These processes contribute to maintaining the integrity and safety of automotive products in the market.
The automotive testing inspection and certification market research report is one of a series of new reports from The Business Research Company that provides automotive testing inspection and certification market statistics, including automotive testing inspection and certification industry global market size, regional shares, competitors with an automotive testing inspection and certification market share, detailed automotive testing inspection and certification market segments, market trends and opportunities, and any further data you may need to thrive in the automotive testing inspection and certification industry. This automotive testing inspection and certification market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive testing, inspection and certification market size has grown steadily in recent years. It will grow from $20. 58 billion in 2023 to $21. 17 billion in 2024 at a compound annual growth rate (CAGR) of 2. 8%. The growth observed in the historical period can be ascribed to several factors. These include the rising complexity of automotive technologies, the imposition of strict government regulations concerning vehicle safety and emissions, the globalization and expansion of automotive supply chains, heightened consumer awareness, and an increased demand for quality and safety in automobiles. Additionally, the overall growth is influenced by the expanding scale of automobile production during this period.
The automotive testing, inspection and certification market size is expected to see steady growth in the next few years. It will grow to $24. 03 billion in 2028 at a compound annual growth rate (CAGR) of 3. 2%. The anticipated growth in the forecast period is driven by several factors. These include the escalating adoption of electric and hybrid vehicles, a heightened emphasis on sustainable and eco-friendly certification processes, the increasing complexity of automotive technologies, a stringent regulatory landscape, and a growing demand for improved safety and comfort in vehicles. Noteworthy trends expected in the forecast period encompass technological advancements in testing and inspection equipment, a surge in the demand for third-party testing and certification services, the evolution of integrated and automated testing solutions, a growing significance of data analytics in testing and inspection processes, and a shift towards virtual testing and simulation for enhanced efficiency and cost-effectiveness.
The anticipated increase in automobile production is set to be a significant driver propelling the growth trajectory of the automotive testing, inspection, and certification market. This market segment, concerned with ensuring the safety, durability, and compliance of automobiles, experiences heightened demand amid rising automobile production. In March 2021, data from the Society of Indian Automobile Manufacturers revealed a substantial growth in commercial vehicle sales, escalating from 5. 7 million to 7. 2 million units. Medium and heavy commercial vehicle sales surged from 1. 6 million to 2. 4 million units, while light commercial vehicle sales climbed from 4 million to 4. 8 million units from April 2021 to March 2022. Additionally, the Alliance for Automotive Innovation projected a 14 million unit increase in automotive sales in 2020, underscoring the surge in automobile production. This uptrend directly contributes to the amplified demand for automotive testing, inspection, and certification services.
The burgeoning concern surrounding escalating air pollution levels acts as a significant driver augmenting the growth prospects of the automotive testing, inspection, and certification market. As air pollution poses significant health risks, automotive testing, inspection, and certification play a pivotal role in mitigating emissions by ensuring vehicles comply with stringent emission standards and operate efficiently. For instance, in June 2023, According to the World Health Organization, air pollution contributes to an estimated 7 million premature deaths annually, emphasizing the urgency to address and mitigate air pollution sources, including vehicular emissions. This heightened concern for environmental impact is expected to drive increased scrutiny and compliance requirements, further bolstering the demand for automotive testing, inspection, and certification services.
Major players within the automotive testing, inspection, and certification market are prioritizing the enhancement of customer experiences as a key strategy to maintain a competitive edge. In April 2022, SGS S. A., a Switzerland-based provider of automotive inspection, verification, testing, and certification services, launched a Digital Hub aimed at elevating the customer experience. This initiative focuses on scaling up digitalization efforts within customer interactions, aligning with SGS's commitment to digitalize 30% of its customer journeys by 2023. The Digital Hub employs agile and digital approaches to craft innovative solutions tailored to meet customer needs and expectations. By integrating technology, SGS aims to offer customers expedited, convenient, and consistently high-quality services while upholding personalized, human-centered service delivery. This strategic emphasis on enhancing the customer experience positions companies to fortify brand loyalty and satisfaction in a competitive market landscape.
Prominent players within the automotive testing inspection and certification market are actively pursuing strategic partnerships to foster revenue growth and innovation within the industry. These strategic collaborations aim to enhance testing, inspection, and certification processes, driving innovation, cost-efficiency, and ensuring compliance with regulatory standards. In a notable instance from April 2023, DEKRA, a renowned Germany-based vehicle inspection company, entered into a partnership with LatticeFlow, a Switzerland-based developer specializing in system management software. This collaborative venture aims to offer AI safety assessments tailored for enterprise clients. The newly introduced service facilitates customers in obtaining comprehensive and impartial evaluations of their AI data and models, aligning with the latest ISO standards for data quality and model resilience. Leveraging DEKRA's expertise in conducting impartial safety and security assessments alongside LatticeFlow's scalable platform for AI data and model assessments, this partnership aims to provide clients with a robust solution for certifying the safety and reliability of their AI systems.
In April 2022, Applus Plus, a Spain-based company specializing in automotive testing, inspection, and certification, made a strategic acquisition by purchasing Entidad IDV Madrid SL for an undisclosed sum. Through this acquisition, Applus Plus bolstered its foothold by operating nine statutory vehicle inspection stations in Madrid. This move solidified its position as the leading business conducting the most inspections in the region, reaffirming its status as a primary service provider in Spain. Entidad IDV Madrid SL, the acquired company, specializes in taximeter testing and mandatory automotive inspections, aligning with Applus Plus's strategic objectives to expand its service offerings and market presence through strategic acquisitions.
Major companies operating in the in the automotive testing, inspection and certification market report are SGS SA, Bureau Veritas SA, Intertek Group plc, Dekra SE, Applus Services SA, Eurofins Scientific SE, MISTRAS Group Inc., Element Materials Technology, The British Standards Institution, TUV Nord Group, NSF International, RINA SpA, ALS Limited, DNV GL, Robert Bosch GmbH, Exova Group Limited, SAI Global Limited, Lloyd's Register Group Limited, Kiwa NV, National Technical Systems Inc., BSI Group, National Testing Service, Technischer Uberwachungsverein Sud, Aerovate Certification B. V., Movon Corporation, Automotive Technology and Information Consulting Co. Ltd., 3M Company, Hager Group, Siemens AG, Mitsubishi Electric Corporation, NXP Semiconductors NV, Infineon Technologies AG, Continental AG, ZF Friedrichshafen AG, Magna International Inc., Delphi Automotive plc
North America was the largest region in the automotive testing inspection and certification market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive testing, inspection and certification market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the automotive testing, inspection and certification market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The automotive testing inspection and certification market includes revenues earned by entities by providing services such as pre-production inspection, first article inspection, during production inspection (DPI), pre-shipment inspection (PSI), and container loading inspection (CLI). The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.