The automotive testing, inspection, and certification (TIC) are vital steps in the success of the automotive manufacturers and suppliers. The increasing preference for safety and quality is a crucial factor in driving market growth. Also, the automotive industry is required to fulfill specific criteria and abide by national and international standards and safety mandates. The increasing production of electric and hybrid electric vehicles creates lucrative opportunities for the players active in the automotive TIC market during the forecast period.
The automotive TIC market is projected to grow at a decent rate during the forecast period due to increasing instances of vehicle recall arising from component failure coupled with strict regulatory standards. Furthermore, increasing inclination towards the outsourcing of these services is expected to fuel the growth of the automotive TIC market. However, varying standards across regions is a restraining factor for the market growth. Nonetheless, the adoption of electric and hybrid vehicles is further expected to increase the growth of the automotive TIC market in the coming years.
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Major Players in the market are:
- Applus Services SA
- Bureau Veritas Group
- DEKRA SE
- Element Materials Technology
- Eurofins Scientific
- Intertek Group plc
- SGS SA
- TÜV NORD GROUP
- TÜV Rheinland AG
- TÜV SÜD AG
This is a professional and in-depth study on the current state of the Automotive TIC Market with a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Strategic Insights and Development plans are also discussed and manufacturing processes and cost structures analyzed. Automotive TIC Market import/export consumption, supply and demand figures and cost price and production value gross margins are also provided.
The segmentation in this research study has been finalized post in-depth secondary research and extensive primary research. In addition, the market is also segmented on the basis of technology offered by the leading participants in the industry in order to understand widely used market specific terminologies. Thus, we have incorporated the segments of the research and have finalized the market segmentation.
Global Automotive TIC Market: Applications and Types
Covid-19 Impact and Global Analysis – by Service (Testing, Inspection, Certification, Others); Sourcing (Outsourced, In-House); Application (Telematics, Electrical Systems and Components, Interior and Exterior Materials and Components, Homologation Testing, Others) and Geography
Impact of COVID-19 Pandemic on Automotive TIC Market
The COVID-19 outbreak, which began in Wuhan (China) during December 2019, has spread at a fast pace worldwide. The global factory shutdowns, travel bans, and border lockdowns, to combat and contain the outbreak, have impacted every industry and economy worldwide. The majority of the manufacturing plants are either temporarily shut or operating with minimum staff; due to which the Automotive TIC and related components are disrupted. Additionally, the demand for frozen foods has been showcasing a slowdown since the outbreak of COVID-19 in the countries
The Insight Automotive TIC Market Research Report Scenario include: –
- The report provides qualitative and quantitative trends of global Automotive TIC Marketacross type, type of products, service, and geography.
- The report starts with the key takeaways (Chapter Two), highlighting the key trends and outlook of the global Automotive TIC Market.
- Chapter Threeprovides the research methodology of the study.
- Chapter Fourfurther provides PEST analysis for each region.
- Chapter Fivehighlights the key industry dynamics in the Automotive TIC Market, including factors that are driving the market, prevailing deterrent, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.
- Chapter Sixdiscusses the global Automotive TIC Market scenario, in terms of historical market revenues, and forecast till the year 2028.
- Chapter Sevento ten discuss Automotive TIC Market segments by type, type of application, service, and geography across North America, Europe, Asia-Pacific, Middle East and Africa, South and Central America. They cover market revenue forecast, and factors driving and governing growth.
- Chapter Elevendescribes the industry landscape analysis. It provides detailed description of various business activities such as market initiatives, new developments, mergers and joint ventures globally along with a competitive landscape.
- Chapter Twelveprovides the detailed profiles of the key companies operating in the global Automotive TIC Market. The companies have been profiled on the basis of their key facts, business description, products and services, financial overview, SWOT analysis, and key developments.
- Chapter Thirteen, i.e. the appendix is inclusive of a brief overview of the company, glossary of terms, contact information, and the disclaimer section.
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The report also covers a detailed chapter of the analysis on COVID-19 impact on this market at global and regional level in our final reports.
This research provides detailed information regarding the major factors influencing the growth of the Automotive TIC Market in Global and Regional Level (drivers, restraints, opportunities, and challenges), forecast of the market size, in terms of value, market share by region and segment; regional market positions; segment and country opportunities for growth; New product developments, strengths and weaknesses, brand portfolio; Marketing and distribution strategies; challenges and threats from current competition and prospects; Key company profiles, SWOT, product portfolio and growth strategies.
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