Automotive Testing and Inspection Market to Grow Steadily Over CAGR of 3.80%

The latest market report published by Credence Research, Inc. “Global Automotive Testing and Inspection Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2030. The global Automotive testing and inspection market has witnessed steady growth in recent years and is expected to continue growing at a CAGR of 3.80% between 2023 and 2030. The market was valued at USD 12.9 billion in 2022 and is expected to reach USD 16.74831749 billion in 2030.

The Automotive Testing and Inspection Market refers to the industry segment that provides services and equipment for evaluating and assessing the safety, performance, quality, and compliance of vehicles and automotive components. This market plays a crucial role in ensuring that automobiles meet regulatory standards, industry benchmarks, and customer expectations.

Some of the major players in the automotive testing and inspection:

·         SGS Group: SGS is a global leader in inspection, testing, and certification services. They offer a wide range of automotive testing and inspection services to ensure safety and quality compliance.

·         Bureau Veritas: Bureau Veritas is another prominent company in the field of testing, inspection, and certification. They provide automotive testing services to ensure vehicles meet regulatory standards and consumer expectations.

·         Intertek Group: Intertek is a multinational company that provides inspection, product testing, and certification services for various industries, including automotive. They focus on quality and safety testing for automotive components and systems.

·         DEKRA: DEKRA is a global inspection and testing company with a strong presence in the automotive sector. They offer services related to vehicle inspection, product testing, and certification.

Here are some of the key trends and factors that were influencing the Automotive Testing and Inspection Market:

Rise of Electric and Autonomous Vehicles: The transition toward electric vehicles (EVs) and autonomous vehicles (AVs) has driven increased demand for testing and inspection services tailored to these technologies. These vehicles require specialized testing for batteries, electric drivetrains, autonomous systems, and cyber-security.

Stringent Emissions Regulations: Governments worldwide were implementing stricter emissions regulations to combat climate change and air pollution. This drove the need for emissions testing and compliance verification, including for electric vehicles.

Advanced Driver-Assistance Systems (ADAS): The proliferation of ADAS in traditional vehicles and AVs required rigorous testing and validation to ensure these systems function safely and reliably. This includes sensor testing, software validation, and real-world scenario testing.

Globalization of Testing Services: As the automotive industry became more globalized, testing and inspection service providers expanded their reach to cater to manufacturers in different regions, ensuring compliance with local regulations and standards.

Some of the major players in the market and their market share are as follows:

• SGS S.A.
• Bureau Veritas S.A.
• Intertek Group Plc.
• Dekra SE
• TÜV SÜD
• TÜV Rheinland Ag Group
• DNV GL
• British Standards Institution
• Norges Elektriske Materiellkontroll
• Eurofins Scientific SE

Browse 240 pages report Automotive Testing and Inspection Market By Service type (Testing, Inspection) By sourcing type (In-house, Outsourced) By Supply Chain Services (Design, Production, Distribution, Selling, Operation) – Growth, Future Prospects & Competitive Analysis, 2016 – 2030 – https://www.credenceresearch.com/report/automotive-testing-and-inspection-market

Here are some of the major challenges and risks associated with this market:

Technological Advancements: While technological advancements present opportunities, they also pose challenges. New automotive technologies, such as electric and autonomous vehicles, require specialized testing methods and equipment. Keeping up with these advancements and ensuring accurate testing and inspection procedures can be a challenge.

Regulatory Changes: Automotive regulations are subject to frequent changes and updates, especially in areas like safety, emissions, and cyber-security. Testing and inspection companies must continually adapt their services to remain compliant, which can be resource-intensive.

Globalization: The globalization of the automotive industry means that testing and inspection services may need to be adapted to meet different regional standards and requirements. Managing international operations and ensuring consistency in testing practices can be complex.

Supply Chain Disruptions: Disruptions in the supply chain, such as those caused by global events like the COVID-19 pandemic, can impact the availability of testing equipment and materials. This can lead to delays in testing processes and increased costs.

Segmentation

By Service type

·         Testing

·         Inspection

By sourcing type

·         In-house

·         Outsourced

By Application

·         Vehicle Inspection Services

·         Electric Components and Electronics

·         Interior and Exterior Materials and Components

·         Electric Vehicles, Hybrid Vehicles, and Battery Systems

·         Automotive Fuels, Fluids, and Lubricants

Why to Buy This Report-

·         The report provides a qualitative as well as quantitative analysis of the global Automotive Testing and Inspection Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.

·         The report includes information on the competitive landscape, such as how the market's top competitors operate at the global, regional, and country levels.

·         Major nations in each region with their import/export statistics

·         The global Automotive Testing and Inspection Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.

Browse Full Report: https://www.credenceresearch.com/report/automotive-testing-and-inspection-market

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