New York, Nov. 29, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces the Release of “Automotive Testing, Inspection and Certification Global Market Report 2022: Ukraine-Russia War Impact” report – https://www.reportlinker.com/p06368531/?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 is expected to grow from $19.8 billion in 2021 to $20.34 billion in 2022 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 resulted in economic sanctions against multiple countries, a rise in raw material prices and supply chain disruptions, which have affected many markets around the world. The automotive testing, inspection and certification market is expected to grow to $23.31 billion by 2026 at a CAGR of 3.5%.
The automotive testing, inspection, and certification market consists of the sale of automotive testing, inspection, and certification services by entities (organizations, sole proprietors, and partnerships) that are used to ensure that the automotive product meets safety and quality standards for cars. Automotive testing, inspection and certification refers to the certification of automobiles and their components against the requirements of regulatory and legal standards that help verify that vehicles meet customer expectations and various regulatory standards.
The main types of services in automotive testing, inspection and certification are testing services, inspection services, certification services and other services. Vehicle testing services refer to complete vehicles or vehicle components undergoing a series of laboratory tests to ensure their quality compliance.
The main types of sourcing are in-house and outsourced. The different applications include electrical systems and components; telematics; interior and exterior materials and components; liquids and lubricants; vehicle inspection services; homologation testing; and other applications.
North America will be the largest region in the automotive testing, inspection and certification market by 2021. Asia Pacific is expected to be the fastest growing region over 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.
An increase in automotive production is expected to drive the growth of the automotive testing, inspection and certification market in the future. Cars refer to passenger cars with four wheels and a petrol or diesel internal combustion engine, and are intended for use on public roads.
Automotive testing, inspection, and certification help cars to be safe, strong, and help prove engine or shock life. For example, according to the Society of Indian Automobile Manufacturers, an India-based national body representing the Indian automotive industry, sales of commercial vehicles in general grew from 5.7 million to 7.2 million units in March 2021. From April 2021 to March 2022, sales of medium and heavy commercial vehicles increased from 1.6 million to 2.4 million units compared to the previous year, and light commercial vehicle sales increased from 4 million to 4.8 million units. In addition, according to the Alliance for Automotive Innovation, a US-based trade organization, car sales will increase by 14 million units in 2020. Therefore, the increase in car production is driving the growth of the car testing, inspection and certification market.
Advances in TIC such as virtual reality (VR) and augmented reality (AR) are the new trends gaining popularity in the automotive testing, inspection and certification market. Major companies operating in the automotive testing, inspection and certification market are focused on developing and adopting virtual reality and augmented reality technologies to maintain their position in the market.
For example, in March 2019, Mechdyne, a US-based technology partner specializing in AV and VR solutions, announced the availability of CAVE immersive virtual reality (VR) systems built with Direct View LED display technology. With the use of these CAVEs, car manufacturers can test and adjust designs with pinpoint accuracy.
According to Mechdyne, the DV-LED CAVE provides clarity in images in both 2D and 3D, requires less maintenance and takes up less space in the facility than the traditional projection-based CAVE environment.
In April 2022, Applus Plus, a Spain-based automotive testing, inspection and certification company, acquired Entidad IDV Madrid SL for an undisclosed sum. With this acquisition, Applus Plus operates 9 legal vehicle inspection stations in Madrid, cementing its position as the company that carries out the most inspections in the area and remains the leading provider in Spain.
Entidad IDV Madrid SL is a Spain based company that performs taximeter tests and required car inspections.
The countries covered in the automotive testing, inspection and certification market report are Australia, Brazil, China, Germany, France, India, Indonesia, Japan, Russia, UK, USA, South Korea.
The Automotive Testing, Inspection, and Certification Market Research Report is one of a series of new reports that provides automotive testing, inspection, and certification market statistics, including global automotive market size, regional shares, competitors with automotive testing, inspection, and certification market share, detailed automotive testing, inspection and certification market segments, market trends and opportunities, and all the further data you need to thrive in the automotive testing, inspection and certification industry. This automotive testing, inspection and certification market research report provides a complete perspective of everything you need, with an in-depth analysis of the industry’s current and future scenario.
Read the full report: https://www.reportlinker.com/p06368531/?utm_source=GNW
About Report link
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data, so you get all the market research you need – instantly, in one place.