The global automotive testing, inspection, and certification market is expected to expand at a 11.11% CAGR over the period between 2017 and 2025.
Albany, NY -- (SBWIRE) -- 03/19/2018 -- New research report offers a comprehensive analysis of the "Automotive Testing, Inspection, and Certification Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025" The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.
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Global Automotive Testing, Inspection, and Certification Market: Snapshot
Automotive testing, inspection, and certification services are performed to check roadworthiness of a vehicle. This is a procedure, performed by governing body or government certified agencies to check whether a vehicle is capable to meet the standards regarding vehicle set by the governing body of respective country. In this a vehicle is tested for its safety features, noise, power assisted steering, engine transmission mounts, hydraulic, air and vacuum brake systems, brake and steering fluids, headlamps, direction indicators, and emission. There are several standards set by each country about different parameters related to vehicles such as emission limit, number of air bags required, seat belts, and other safety features. For checking these standards, a number of tests are conducted on vehicle. Some of the most common tests undertaken include frontal and side crash test, exhaust emission test, brake test, interior inspection, under body inspection, and different component tests.
The rising number of accidents, increasing automation in vehicles, advanced and more sophisticated components and features of a vehicle, increasing pollution, these are factors due to which demand for vehicle tasting and inspection is increasing day by day. According to the report, the global automotive testing, inspection, and certification market is expected to expand at a 11.11% CAGR over the period between 2017 and 2025.
Testing Services to Remain Most Lucrative
As testing is mandatory for all type of vehicles in many countries, the automotive testing services segment held nearly 39.56% of the overall market, followed by the inspection services, which accounted for 25.14% of total market revenue in 2016. As the cost of testing services is much higher than that of inspection services, the revenue generated by the testing service segment is greater than that of any other segment. Inspection services are mandatory to perform at a specific time period and the certification is mandatory for each vehicle. The certification services segment held 23.85% of market revenue in 2016 and remaining 11.40% was accounted by the other services.
By sourcing type, the automotive testing, inspection, and certification market is segregated as onsite and offsite. In an onsite inspection, the testing and inspection services are performed at the place of vehicle. This mainly include some of vehicle manufacturers, vehicle being imported and exported and some of the owners of the vehicle. In an offsite segment the vehicle is brought in the plant of a testing, inspection, and certificate providing agency. The majority of tests conducted, commonly are covered under this segment. Owing to this the offsite segment has generated 64.30% of total market share. Remaining 35.70% market share was accounted by onsite segment.
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Europe and North America to Continue to Hold Significant Share in Overall Market
In terms of region, the automotive testing, inspection, and certification market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In 2016, Europe dominated the automotive testing, inspection, and certification market with 36.96% share, thanks to the presence of some of the world's leading automotive manufacturers and a steadily expanding domestic automotive industry. North America also accounts for a significant share in the global market owing to the well-established automotive sector. In regions like Europe and North America, stringent rules for periodic vehicle inspection and testing are laid down so as to ensure the safety of human life. These regulations are also key drivers for the automotive testing, inspection, and certification market in these regions.
Over the forecast period, the market for automotive testing, inspection, and certification services is likely to get a major boost in emerging markets such as Latin America and Asia Pacific. With the increased consumption of a vast range of vehicles in these regions as disposable incomes rise, the demand for testing, inspection, and certification services is also likely to steadily expand.
Some of the leading companies operating in the market are SGS SA, Bureau Veritas, Dekra, Intertek Group, TUV SUD, DNV GL, TUV Rheinland, Applus+, ALS Limited, TUV Nord Group, and Mistras Group, Inc.
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