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Automotive TIC (Testing, Inspection, Certification) Market Size, Share, Growth Trends, Demand, Volume and Global Forecast 2023 – 2030

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Automotive TIC (Testing, Inspection, Certification) Market Size, Share, Growth Trends, Demand, Volume and Global Forecast 2023 – 2030

May 16
18:24 2023
Automotive TIC (Testing, Inspection, Certification) Market Size, Share, Growth Trends, Demand, Volume and Global Forecast 2023 - 2030
Automotive TIC (Testing, Inspection, Certification) Market – DataM Intelligence
The Global Automotive TIC (Testing, Inspection, Certification) Market is growing at a CAGR of 4.2% during the forecast period (2023-2030).

Market Overview:

As per the latest research report published by DataM Intelligence, the “Global Automotive TIC(testing, inspection, certification) Market” was valued around US$ 18 billion in 2022  and is projected to reach US$ 25 billion by 2030. The market is growing at a tremendous CAGR of 4.2% during the forecast period (2023-2030).

TIC enables the production of high-quality components and vehicles while assisting automotive suppliers in the ongoing advancement of existing technology and future breakthroughs to make transportation safer, more secure, and physically effective. The automotive TIC (testing, inspection, and certification) sector has developed extraordinarily due to increased traffic fatalities and vehicle manufacturing.

 

For more insights: https://www.datamintelligence.com/download-sample/automotive-testing-inspection-certification-market

 

Market Drivers:

An increasing number of road accidents

The demand for automotive TIC is increasing as traffic incidents increase globally. Although there are numerous reasons for accidents, the poor quality of vehicles sold worldwide has received attention. According to the WHO, road traffic accidents kill almost 1.3 million people yearly. Aside from that, 20 to 50 million additional people suffer non-fatal injuries, with many of them becoming disabled.

Additional laws necessitate consistent, UN-compliant vehicle crash testing. The government of nations such as India will make dual airbags essential beginning April 1, 2021, and a minimum of six airbags will be required starting October 1, 2022. Several other similar laws are being considered for safety.

Market Opportunities:

The growing vehicle production and awareness of vehicle testing create lucrative opportunities in the market. 

Increased vehicle production and public awareness of vehicle testing are two further reasons boosting the worldwide automotive TIC (testing, inspection, and certification) business. According to OICA, 78.78 million cars were sold globally in 2020, with 81.62 million sold in 2022.

Furthermore, the increasing demand for safety and comfort features has prompted OEMs and automotive suppliers to conduct research and development to test electronic components and meet legal requirements. Because automakers prioritize safety, demand for automotive TIC is expected to rise in the coming years.

Market Restraints:

Several restraints are affecting the growth of the global Automotive TIC market. One of the main restraints for the Automotive TIC market is the high cost of testing, inspection, and certification services. The cost of these services can be a significant burden for many companies, notably smaller businesses that may need more resources to invest in expensive testing and certification processes.

Geographical Analysis:

North America is expected to account for more than 30% of the market due to the growth in electric vehicles and the adoption of new rules and regulations. Furthermore, the government contributes significantly to the country’s market growth. For example, the United States Environmental Protection Agency (EPA) proposed technical changes to the emissions testing protocols and adherence calculations for the Light-duty Greenhouse Gas (GHG) Emissions Standards and Fuel Economy Standards in 2020 to ensure a smooth transition from using test fuel with 0% ethanol (E0) to test power with 10% ethanol (E10).

Segmentation Analysis:

The Global Automotive TIC (Testing, Inspection, Certification) Market segmented  based on   type, product, vertical and, region. By type the market further classified into Autonomous and Connected Vehicles, Automotive Fluids, Electrical Components and Electronics, Electro Mobility / Electric Vehicles, Materials and Components – Composites, Plastics and Metals, Engine and Gears, Environmental Testing, System Testing, Crash Test, Others. By product Engine Dynamo Meter, Wheel Alignment Tester, Chassis Dynamo Meter, Vehicle Emission Tester, Transmission Dynamometer, Fuel Injection Pump Tester, Advanced Battery Analyzer, Durability Tester, Endurance Tester, Flammability Tester, Gas Analyzer, Impact or Crush Testers, Torsional Fatigue Tester, Vibration Tester, Others. By vertical Passenger Vehicle, Commercial Vehicle. By region North America, Europe, South America, Asia – Pacific, Middle East and Africa.

Vertical based market insights:

The automotive TIC (testing, inspection, certification) industry’s passenger car segment is expected to increase fast. It is expected to control more than half of the market in the following years. Passenger automobile sales worldwide grew to 57.485 million in 2022, up from 56.43 million in 2021. Customers’ increasing spending power and the growing demand for passenger automobiles in developed and emerging nations have contributed to the industry’s growth.

 

Major Companies 

The key players included in the Global Automotive TIC market are SGS SA, Intertek Group Plc, Robert Bosch Gmbh, Anritsu, Siemens AG, D&V Electronics, TÜV RHEINLAND, Dekra, UL Solutions, Rohde & Schwarz GmbH & Co KG, Element and AVL List GmbH.

 

Covid-19 Impact Analysis:

Disruption in Supply Chain

The pandemic has disrupted global supply chains, which has led to delays in the delivery of parts and components, as well as the testing and inspection processes. The restrictions on movement and travel have also affected the ability of TIC providers to conduct inspections and tests, which has led to a decline in demand for their services.

 

Key Developments:

• On September 14, 2020, DEKRA, a multinational automobile testing company headquartered in Germany, bought Movon Corporation, a South Korean testing facility. Movon Corporation’s radiofrequency (RF) and electromagnetic compatibility (EMC) testing facilities will be used by the firm to expand its network of vehicle testing facilities.

• On May 27, 2021, Automotive Test Systems will establish a new electric car testing facility in Bangalore, India. The new facility would offer a variety of testing alternatives for critical electric car batteries, motors, and axles.

 

Related Reports

Japan Automotive Testing Inspection Certification Market

German Automotive Testing Inspection Certification Market 

South Korea Automotive Testing Inspection Certification Market

Mexico Automotive Testing Inspection Certification Market

 

Additional Benefits Post Purchase:

1) Unlimited Analyst support for a period of 1 year. 

2) Any query with regard to the scope offered will be addressed within 24- 48 hours.

3) An Excel sheet with market numbers will be provided separately.

 

The Full Report has the below insights: 

• The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).

• Visualize the composition of the global Global Automotive TIC market segmentation by type, product, vertical, region highlighting the key commercial assets and players. 

  • By Type: Autonomous and Connected Vehicles, Automotive Fluids, Electrical Components and Electronics, Electro Mobility / Electric Vehicles, Materials and Components – Composites, Plastics and Metals, Engine and Gears, Environmental Testing, System Testing, Crash Test, Others.
  • By Product: Engine Dynamo Meter, Wheel Alignment Tester, Chassis Dynamo Meter, Vehicle Emission Tester, Transmission Dynamometer, Fuel Injection Pump Tester, Advanced Battery Analyzer, Durability Tester, Endurance Tester, Flammability Tester, Gas Analyzer, Impact or Crush Testers, Torsional Fatigue Tester, Vibration Tester, Others.
  • By Vertical: Passenger Vehicle, Commercial Vehicle.
  • By Region: North America, Europe, South America, Asia – Pacific, Middle East and Africa.

 • Identify commercial opportunities in the global automotive TIC market by analyzing trends and co-development deals.

• The report also covers data insights on various industry forces such as Porter’s five forces analysis, supply chain analysis, pricing analysis, regulatory analysis.

• Excel data sheet with thousands of data points of global Global automotive TIC market -level 4/5 segmentation.

• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study. 

• Product mapping in Excel for the key product of all major market players

• The report will provide access to approximately 61 market data tables, 64 figures and close to 180 pages.

 

About DataM Intelligence:

DataM Intelligence 4Market Research is a market intelligence platform that gives access to syndicated, customized reports and consulting to its clients in one place. As a firm with rich experience in research and consulting across multiple domains, we are a one-stop solution that will cater to the needs of clients in key business areas. With coverage across 10 major industries in the marketplace research, DataM Intelligence benefits thousands of companies by helping them take their innovations early to the market by providing a complete view of the market with statistical forecasts. Our strategy-centric framework and value-added services will let individuals and corporates ease access and custom personalization to research and markets.

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