Global Automotive TIC Market report brings together a detailed study of the present and upcoming opportunities to elucidate the future investment in the ABC industry. The Global Automotive TIC Market report consists of drivers and restraints for the market which are obtained with the help of SWOT analysis, along with their impact on the demand over the forecast period. This market research report endows with the productive ideas which in turn help to make the product more effective and striking in the competitive market. This Global Automotive TIC Market industry analysis report speaks in detail about the manufacturing process, type and applications.
The Global Automotive TIC Market is expected to reach USD 31.6 billion by 2026, from USD 18.11 billion in 2018 growing at a CAGR of 7.2% during the forecast period of 2019 to 2026. The upcoming market report contains data for historic year is 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
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Automotive TIC validates the test and inspection results against the standard set by the government, international standardization and other. Currently, it is widely used by the manufacturer to show that their products are manufactured according to the government standardization and regulations. It also helps the manufacturer to improve the marketability of their products. According to Statista, the consumer electronic segment amounts to USD 301,311 million in 2019. Most of the revenue is generated from China.
According to the International Council on Clean Transportation, new car registration in EU increased to 14.60 million in 2017. The strongest growth took place in the sports utility vehicle segment that is about 3.7 million new cars were SUVs. Thus the above factor proves the automotive industry is growing and will derive the demand of Automotive TIC.
Key Market Competitors: Global Automotive TIC Market
The key players operating in the global automotive TIC market are –
- Applus Services SA
- Bureau Veritas SA
- Intertek Group PLC
- Eurofins Scientific
- SGS SA
The other players in the market are
- TUV Nord Group
- Eurofins Scientific
- ASTM International
- Element Materials Technology
- Lloyd’s Register Group Limited
- Mistras Group Inc
- DNV GL Group AS
- Rina S.P.A.
- Norges Elektriske Materiellkontroll
- Dekra Certification GmbH
- ALS Limited
- BSI Group
- SAI Global Limited
- UL LLC among other.
Competitive Landscape: Global Automotive TIC Market
The global automotive TIC market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Automotive TIC market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
In, July, 2018, SGS SA invested in new accreditations, laboratory services, testing facilities and parameters which will hlp the company with latest development, capabilities and new service available.
Table of Content:
01: Executive Summary
02: Scope of The Report
03: Market Landscape
04: Market Sizing
05: Market Segmentation by Product
06: Five Forces Analysis
07: Customer Landscape
08: Geographic Landscape
09: Decision Framework
10: Drivers and Challenges
11: Market Trends
12: Vendor Landscape
13: Vendor Analysis
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- Growth in automotive production worldwide
- Raising awareness about safety among consumers
- Stringent regulations and standards in automotive industry
- Varying regulations and standards across regions
- Time consuming for the overseas qualification test
Segmentation: Global Automotive TIC Market
By Service Type
- Testing Services
- Inspection Services
- Certification Services
- Other Services
By Sourcing Type
- Electrical Systems and Components
- Vehicle Inspection Services
- Homologation Testing
- Interior & Exterior Materials
- North America
- South America
- Middle East & Africa
Key Insights in the report:
- Historical and current market size and projection up to 2025
- Market trends impacting the growth of the global automotive TIC market
- Analyze and forecast automotive TIC market on the basis of service type, sourcing type, and application
- Trends of key regional and country-level markets for service type, sourcing type, and application
- Company profiling of key players which includes business operations, product and services, geographic presence, recent developments and key financial analysis
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