Automotive Testing, Inspection, and Certification Market: Introduction
The global automotive testing, inspection, and certification market was valued at US$ 14.69 Bn in 2018 and is estimated to reach ~US$ 29 Bn in 2027, expanding at a CAGR of ~8% from 2019 to 2027. According to the report, the automotive testing, inspection, and certification market is likely to be driven due to stringency of regulations for testing and certification by governing authorities. The rising number of road accidents supplemented by an increasing demand for automated and technologically advanced vehicles, coupled by increased import and export among countries is boosting the demand for automotive testing, inspection, and certification services.
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Expansion of Testing, Inspection, and Certification Market
Increase in the number of accidents and environmental air pollution levels is prompting relevant governing/ regulatory bodies to pay more emphasis on periodic vehicle testing and inspection. Consequently, key players in this industry are likely to bag great opportunities for testing, inspection services in the next two to four years. The rise in stringency of safety regulations propels the demand for testing, inspection, and certification services, as it is important for companies operating in diverse industries, as these services ensure the maintenance of health, safety, and quality requirements of concerned products. Increased focus of the enterprise sector on safety legislations and standards, diverse requirement of products, and standard regulations are major factors driving the market. Moreover, change in regulations for different automotive systems in various regions is anticipated to boost the market for testing, inspection and certification market such as surge in pollution level of the country has lead it to adopt more stringent emission norms which propelled the market for testing, inspection, and certification services. The Government of China is promoting eclectic vehicles in order to reduce pollution and is likely to ban cars that run on fossil fuels.
In terms of revenue, the testing segment accounted for a prominent share of the market in 2018, followed by the inspection segment. The inspection segment accounted for a notable share of the global automotive testing, inspection, and certification market in 2018. The automotive testing, inspection, and certification market is highly fragmented, owing to the presence of several small and large players providing these services. A large number of mergers and acquisitions has been witnessed in the industry in the last few years, which turns out to be an attempt by large players to minimize their competition and enhance their geographic presence, thereby boosting revenues.
Regional Analysis of Automotive Testing, Inspection, and Certification Market
In terms of region, Europe has been the leading market, globally, owing to the presence of a large number of testing, inspection, and certification centers and high stringency of regulatory norms for vehicles. Since all the key automotive manufacturers are based in Europe, they have established their research and development centers in the region. Moreover, Germany is a key market for automotive testing, inspection and certification market among all other sub-regions of Europe. On the other hand, Asia Pacific is a prominent market for automotive inspection, testing, and certification, owing to high focus on the development of new technologies in the region. China, Japan, and countries in ASEAN are likely to play an important role in the expansion of the market in Asia Pacific.
Competition Landscape of Testing, Inspection, and Certification Market
Key service providers operating in the automotive testing, inspection, and certification services market include SGS SA, Bureau Veritas, DEKRA, Intertek Group, TUV SUD, DNV GL, TUV Rheinland, Applus+, ALS Limited, TUV NORD GROUP, and MISTRAS Group, Inc.
Global Automotive Testing, Inspection, and Certification Market: Segmentation
- Automotive Testing, Inspection, and Certification Market, by Service Type
- Testing
- Inspection
- Certification
- Others
- Automotive Testing, Inspection, and Certification Market, by Location
- On-site
- Off-site
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- Automotive Testing, Inspection, and Certification Market, by Sourcing Type
- OSP
- Workshop
- Others
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