Research By Markets adds Market Research Report - Global Automotive Testing, Inspection, and Certification Market Growth (Status and Outlook) 2019-2024
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The Automotive Testing, Inspection and Certification (TIC) sector consists of conformity assessment bodies that provide services ranging from auditing and inspection, to testing, verification, quality assurance and certification.
As testing is mandatory for all type of vehicles in many countries, the automotive testing services segment held nearly 51% of the overall market, followed by the inspection services, which accounted for 32% of total market revenue in 2017. As the cost of testing services is much higher than that of inspection services, the revenue generated by the testing service segment is greater than that of any other segment. Inspection services are mandatory to perform at a specific time period and the certification is mandatory for each vehicle. The certification services segment held 17% of market revenue in 2017 and remaining 6.7% was accounted by the other services.
In 2017, Europe dominated the automotive testing, inspection, and certification market with 43.7% share, thanks to the presence of some of the world’s leading automotive manufacturers and a steadily expanding domestic automotive industry. North America also accounts for a significant share in the global market owing to the well-established automotive sector. In regions like Europe and North America, stringent rules for periodic vehicle inspection and testing are laid down so as to ensure the safety of human life. These regulations are also key drivers for the automotive testing, inspection, and certification market in these regions.
According to this study, over the next five years the Automotive Testing, Inspection, and Certification market will register a 7.1% CAGR in terms of revenue, the global market size will reach US$ 17920 million by 2024, from US$ 12740 million in 2019. In particular, this report presents the global revenue market share of key companies in Automotive Testing, Inspection, and Certification business, shared in Chapter 3.
This report presents a comprehensive overview, market shares and growth opportunities of Automotive Testing, Inspection, and Certification market by product type, application, key companies and key regions.
This study considers the Automotive Testing, Inspection, and Certification value generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
TÜV SÜD Group
TÜV Rheinland Group
TÜV Nord Group
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Automotive Testing, Inspection, and Certification market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Automotive Testing, Inspection, and Certification market by identifying its various subsegments.
Focuses on the key global Automotive Testing, Inspection, and Certification players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Automotive Testing, Inspection, and Certification with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Automotive Testing, Inspection, and Certification submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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