Major players in the automotive testing, inspection, and certification market are SGS S. A. , Bureau Veritas S. A. , Intertek Group Plc. , Dekra SE, TUV SUD, Applus Services S. A. , TUV Rheinland Ag Group, Eurofins Scientific SE, MISTRAS Group Inc.
New York, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Testing, Inspection and Certification Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06368531/?utm_source=GNW
, Element Materials Technology, The British Standards Institution, TUV Nord Group, NSF International, RINA S.p.A., and ALS Limited.
The global automotive testing, inspection, and certification market is expected to grow from $19.8 billion in 2021 to $20.34 billion in 2022 at a compound annual growth rate (CAGR) of 2.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The automotive testing, inspection, and certification market is expected to grow to $23.31 billion in 2026 at a CAGR of 3.5%.
The automotive testing, inspection, and certification market consists of sales of automotive testing, inspection, and certification services by entities (organizations, sole traders, and partnerships) that are used to ensure the automotive product complies with automotive safety and quality standards. Automotive testing, inspection, and certification refer to certifying automotive vehicles and their components as per the requirements of regulatory and statutory standards that help to check whether vehicles meet customer expectations and various statutory standards.
The main types of services in automotive testing, inspection, and certification are testing services, inspection services, certification services, and other services.Automotive testing services refer to putting complete vehicles or vehicle components through a series of laboratory tests to ensure their quality compliance.
The major sourcing types are in-house and outsourced. The various applications include electrical systems and components; telematics; interior and exterior materials and components; fluids and lubricants; vehicle inspection services; homologation testing; and other applications.
North America will be the largest region in the automotive testing, inspection, and certification market in 2021.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, the Middle East, and Africa.
An increase in automobile production is expected to propel the growth of the automotive testing, inspection, and certification market going forward.Automobiles refer to passenger vehicles with four wheels and an internal combustion gasoline or diesel engine, and are intended for use on public highways.
Automotive testing, inspection, and certification help automobiles to be safe and strong and assist in proving the longevity of the engine or shocks. For instance, in March 2021, according to the Society of Indian Automobile Manufacturers, an India-based national body representing the Indian automobile industry, sales of commercial vehicles grew overall, rising from 5.7 million to 7.2 million units. From April 2021 to March 2022, compared to the prior year, sales of medium and heavy commercial vehicles climbed from 1.6 million to 2.4 million units, and sales of light commercial vehicles increased from 4 million to 4.8 million units. Furthermore, according to the Alliance for Automotive Innovation, a US-based trade association, automotive sales will increase by 14 million units in 2020. Therefore, the increase in automobile production is driving the growth of the automotive testing, inspection, and certification market.
Advancements in TIC such as virtual reality (VR) and augmented reality (AR) have emerged as the new trends gaining popularity in the automotive testing, inspection, and certification market.Major companies operating in the automotive testing, inspection, and certification market are focused on developing and adopting virtual reality and augmented reality technologies to sustain their position in the market.
For instance, in March 2019, Mechdyne, a US-based technology partner specialising in AV & VR solutions, announced the availability of CAVE systems for immersive virtual reality (VR) constructed using Direct View LED display technology.With the use of these CAVEs, automotive manufacturers can test and modify designs with extreme accuracy.
According to Mechdyne, the DV-LED CAVE provides clarity to pictures in both 2D and 3D, requires less maintenance, and occupies less space in the facility than in the traditional projection-based CAVE environment.
In April 2022, Applus Plus, a Spain-based automotive testing, inspection, and certification company, acquired Entidad IDV Madrid SL for an undisclosed amount.With this acquisition, Applus Plus operates 9 statutory vehicle inspection stations in Madrid, solidifying its position as the business performing the most inspections in the area and remaining the leading provider in Spain.
Entidad IDV Madrid SL is a Spain-based company that conducts taximeter testing and required automotive inspections.
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.
The automotive testing, inspection, and certification market research report is one of a series of new reports 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.
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