New York, April 03, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the launch of the “Global Automotive Testing, Inspection and Certification Market Report 2023” report – https://www.reportlinker. com/p06438988/?utm_source= GNW
Element Materials Technology, The British Standards Institution, TUV Nord Group, NSF International, RINA SpA and ALS Limited.
The global automotive testing, inspection and certification market grew from USD 20.24 billion in 2022 to USD 20.8 billion in 2023 at a compound annual growth rate (CAGR) of 2.7%. The war between Russia and Ukraine 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 several countries, an increase in commodity prices and supply chain disruptions, causing inflation in goods and services and affecting many markets around the world. The automotive testing, inspection and certification market is expected to grow to USD 23.23 billion by 2027 at a CAGR of 2.8%.
The automotive testing, inspection and certification market includes revenue earned by entities through the provision of services such as pre-production inspection, first article inspection, production inspection (DPI), pre-production inspection shipping (PSI) and container loading inspection (CLI). .Market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to final consumers are included.
Automotive testing, inspection and certification refers to the certification of automotive vehicles and their components in accordance with the requirements of regulatory and statutory standards that help verify whether vehicles meet customer expectations and various legal standards . These services are used to ensure that the automotive product meets automotive safety and quality standards.
North America was the largest region in the automotive testing, inspection and certification market in 2022. Asia-Pacific is expected to be the fastest growing region during 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, Middle East and Africa.
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 subjecting complete vehicles or vehicle components to a series of laboratory tests to ensure their quality compliance.
The main types of sourcing are internal and outsourced. The various applications include electrical systems and components, telematics, interior and exterior materials and components, fluids and lubricants, vehicle inspection services, homologation tests and other applications.
An increase in automobile production is expected to drive the growth of the automobile testing, inspection and certification market in the future. Automobiles refer to passenger vehicles with four wheels and an internal combustion gasoline or diesel engine and are intended for use on public roads.
Automotive testing, inspection, and certification help make cars safe and strong, and help demonstrate engine longevity or crashworthiness. For example, in March 2021, according to the Society of Automobile Manufacturers of India, an India-based national body representing the Indian automobile industry, sales of commercial vehicles grew overall, going from 5.7 million to 7.2 million units. From April 2021 to March 2022, compared to the previous year, sales of medium and heavy commercial vehicles increased from 1.6 million to 2.4 million units, and sales of vehicles light commercials increased from 4 million to 4.8 million units. Also, according to the Alliance for Automotive Innovation, a US-based trade association, automobile sales will increase by 14 million units by 2020. Therefore, increased automobile production is driving the growth of the automotive testing, inspection and certification market.
Advances in ICT such as Virtual Reality (VR) and Augmented Reality (AR) have emerged as new trends gain popularity in the automotive testing, inspection and certification market. The main companies operating in the automotive testing, inspection and certification market are focused. in the development and adoption of virtual reality and augmented reality technologies to maintain its position in the market.
For example, in January 2020, Hyundai, a South Korean-based car manufacturer with its subsidiary KIA, introduced a virtual reality design evaluation system. This technology uses several development applications that would allow designers and engineering teams to conduct vehicle design quality assessments and development verification processes.
In addition, this system allows teams to test the ergonomics and aerodynamics of vehicles more efficiently.
In April 2022, Applus Plus, an automotive testing, inspection and certification company based in Spain, acquired Entidad IDV Madrid SL for an undisclosed amount. With this acquisition, Applus Plus operates 9 legal vehicle inspection stations in Madrid, consolidating its position as the company that carries out the most inspections in the area and remains the leading supplier in Spain.
Entidad IDV Madrid SL is a company based in Spain that performs taximeter tests and required car 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 and USA.
Market value is defined as the revenue earned by businesses from the sale of goods and/or services within the specified market and geography through sales, grants or donations in currency terms (in USD unless otherwise specified ).
Revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, regardless of where they are generated. It does not include resale revenue along the supply chain, either further along the supply chain or as part of other products.
The Automotive Testing, Inspection, and Certification Market Research Report is one of a series of new reports that provides market statistics for Automotive Testing, Inspection, and Certification, including Automotive Testing, Inspection, and Sizing of the global certification industry market, regional shares, competitors with Automotive Testing, Inspection and Certification market share, detailed Automotive Testing, Inspection and Certification market segments, market trends and opportunities and any other data you need to thrive in the automotive testing, inspection and certification industry. This Automotive Testing, Inspection and Certification Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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