This report was recently updated on July 20 2024 with the latest and most recent
market numbers
Global Automotive TIC Market Size, Trends, and Analysis- Forecasts To 2026 By Service Type (Testing Services, Certification Services, Inspection Services, Others), By Application (Electrical Systems and Components, Telematics, Interior and Exterior Materials and Components, Homologation Testing, Electric Vehicles, Hybrid Electric Vehicles, and Battery Systems, Vehicle Inspection Services, Fuels, Fluids, and Lubricants, Others), By Sourcing-Type (Outsourced, In-House), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
Automotive TIC is the process of test and inspection run on vehicles and other automotive parts which are later validated against the standards set by the government, international standardization, and others. Such a procedure also allows the producers to increase the marketability of their vehicles & parts. TIC services enhance the efficiency of the production process, through testing/inspecting/and certifying by regulations/standards. Growing automotive production and increasing acceptance of hybrid electric vehicles are expected to drive growth during the projected timeframe. Increasing the use of automotive electronics to ensure the safety of passengers and cars, increasing customer awareness of product quality is also expected to boost the demand for automotive TIC in the market. Furthermore, the growing number of cases of electronic parts failures in cars along with the increasing tendency to outsource TIC services has helped the market expand exponentially through 2020-2026.
The market can be divided into electrical systems and components, telematics, indoor and outdoor materials, and components, homologation testing, electric cars, hybrid electric vehicles and battery systems, inspection services for vehicles and fuels, fluids and lubricants, among others. The vehicle inspection services application segment will be the largest market shareholder due to the government's increasing emphasis on enforcing laws that help minimize road accidents and the impact on the environment of non-compliant vehicles.
As per the service-type outlook, the segment of the market is testing services, certification services, and inspection services, among others. The most significant market share in 2019 was the testing services segment. This is mainly due to the high demand for high quality and safe products and the increasing pressure to abide by the rules & regulations made by the regulatory authorities to ensure product safety, quality, and affectivity.
According to the sourcing type, this market can be segregated into two segments namely, outsourced, and in-house. In comparison to the other type of sourcing, the in-house segment of this market will be the dominating segment. This is due to the high level of process management of testing and auditing, along with improved delivery efficiency.
The European region is expected to have the highest share in the market from 2020 to 2026. Europe is an international center for the automotive industry. Hence due to the presence of global car manufacturers such as Daimler AG, Robert Bosch GmbH, and Volkswagen AG, high-end vehicle-to-infrastructure, and in-vehicle entertainment technologies would accelerate the development of market growth in the region. On the other hand, Asia Pacific will be the fastest-growing region, owing to the growing automotive production scale and the increasing demand for TIC services.
The major players competing in this market are Dekra Se, Applus+, Tüv Rheinland Ag Group, Bureau Veritas S.A., Eurofins, Tüv Süd, Mistras, Sgs Group, Tüv Nord Group, Intertek, Element Materials, Rina S.P.A., Nsf International, Lloyd's, and Ul LLC, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In April 2019, TÜV SÜD entered into a collaboration with the Ministry of Industry of Thailand and Thailand Automotive Institute (TAI) to develop a battery testing center in Bangkok.
We value your investment and offer free customization with every report to fulfil your exact research needs.
The Global Automotive TIC Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Automotive TIC Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
Or view our licence options:
Tailor made solutions just for you
80% of our clients seek made-to-order reports. How do you want us to tailor yours?
OUR CLIENTS
