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Automotive TIC - Global Market Outlook (2019-2027)

Automotive TIC - Global Market Outlook (2019-2027)

Published: June 2020 ID: SMRC19383
Published: June 2020 ID: SMRC19383

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Automotive TIC Market is accounted for $16.90 billion in 2019 and is expected to reach $29.92 billion by 2027 growing at a CAGR of 7.4% during the forecast period. Some of the key factors propelling the market growth include increasing automobile production in emerging economies, growing inclination toward outsourcing TIC services, rising focus of governments to impose strict regulatory standards on the automotive industry, and surging adoption of automotive electronics to maintain passenger and vehicle safety. However, varying regulations/standards across regions is likely to hamper the market.

Automotive testing, inspection, and certification services (TIC) are done to check roadworthiness of a vehicle. Automotive TIC authenticates the test and inspection results against the standard set by the government, international standardization. Presently, it is commonly used by the manufacturer to show that their products are manufactured according to the government standardization and regulations. The automotive testing, inspection, and certification (TIC) are vital steps in the success of the automotive manufacturers and suppliers. This helps in the production of high quality, safe, and reliable automotive products/components.

By application, vehicle inspection services (VIS) are offered by automotive TIC companies. It is a technical inspection service provided by TIC companies for commercial vehicles (commercial van and truck fleets; heavy and mid-duty trucks; tractors; trailers; construction equipment; forklifts) and passenger vehicles (cars, motorcycles, pick-up trucks, boats and recreational trailers, all-terrain vehicles (ATVs), and recreational vehicles (RVs)). VIS services should ideally follow national/international regulatory standards for environmental protection. These services are also applicable to imported and used vehicles.

On the basis of geography, Asia Pacific (APAC) is expected to have considerable market growth during the forecast period. The automotive industry is subject to strict safety regulations in a few Asia Pacific countries such as Japan and South Korea demands passenger cars are also on the increase these countries. Increased production of motor vehicles in countries which are India, China, Japan, and South Korea is significantly contributing to the growth of the automotive TIC market in the APAC region.

Some of the key players in Automotive TIC market include TUV Nord Group, Bureau Veritas S.A., Intertek, British Standards Institution (BSI), Rina S.P.A., Lloyd’s, Mistras, Dekra SE, TUV SUD, UL LLC, Eurofins, Element Materials, UV Nord Group, Applus+, SGS Group, TUV Rheinland AG Group, DNV GL, Norges Elektriske Materiellkontroll (NEMKO), Nsf International, and Engineering, Quality, and Safety (EQS).

Sourcing Types Covered:
• Outsourced
• In-house

Service Types Covered:
• Inspection Services
• Testing Services
• Certification Services
• Other Services

Applications Covered:
• Homologation Testing
• Electrical Systems and Components
• Electric Vehicles, Hybrid Electric Vehicles, and Battery Systems
• Automotive Fuels, Fluids, and Lubricants
• Interior and Exterior Materials and Components
• Telematics
• Advanced Driver Assistance Systems (ADAS) Testing
• OEM Testing
• Durability Testing
• Emission Testing
• Acoustic Testing
• Passenger Cars
• Commercial Vehicles
• Other Applications

Places Covered:
• Other Service Providers (OSP)
• Workshop

Materials Covered:
• Composites
• Alloys

Automotive Applications Covered:
• Adas and Safety Controller
• Chassis and Body Controller
• Functional Safety
• Cockpit Controller

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK 
o Spain
o Rest of Europe      
• Asia Pacific
o Japan       
o China       
o India       
o Australia       
o New Zealand      
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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