September 25, 2021
Global Automotive TIC

Global Automotive TIC Market Status, Growth, Data, Sale & Price

Global Automotive TIC Market is valued approximately USD 19.4 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 7.23 % over the forecast period 2019-2026. Automotive TIC is performed to check if the vehicle is meeting acceptable standards and is in suitable operating condition or safe for driving and transport. Automotive TIC includes testing services, inspection cervices and certification services. This procedure is performed by government certified agencies or government bodies of countries to check if the vehicles meet the minimum standards set by the governing body in the country as several standards set by each country about different parameters related to vehicles such as number of air bags required, emission limit, seat belts, and other safety features. Various tests performed on vehicles includes exhaust emission test, frontal and side crash test, under body inspection, brake test and other component tests such as safety features, power assisted stearing, vaccum, air and hydraulic brake systems, steering and brake fluids, direction blinkers, headlamps etc. The market growth of automotive TIC is primarily driven by factors such as increasing automotive production globally, stringent regulations and standards in automotive industry, increasing awareness about safety among consumers, outsourcing tendencies in TIC services market, rising trend of electronic systems adoption in the automotive industry and growing incidences of vehicle recall.
Stringent government regulations are driving the market growth of automotive TIC during the forecast period. For instance, in 2018, South Korean transport ministry announced that every passenger vehicle should have Lane Departure Warning LDW systems and Automated Emergency Braking AEB from January 2019. These stringent government regulations are a result of increasing automotive accidents. Thus, to increase the safety of vehicles government bodies of various countries have declared various safety standards for automobiles that every automobile manufacturer has to follow which is supplementing the market growth of automotive TIC during the forecast period as government bodies or certified agencies regularly perform automotive TIC to check the compliance.

On buying a 30% Discount is Offered on this Report.

Access Full Report with TOC @

https://www.planetmarketreports.com/reports/global-automotive-tic-market-to-reach-usd-33-9-billion-by-2026

The regional analysis of global Automotive TIC market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share. The market growth of automotive TIC in Asia Pacific region is primarily driven by increasing production and sales of passenger cars in the region. The increasing production of passenger cars in the region is supplementing the market growth of automotive TIC as these procedures are performed by government certified agencies or government bodies of countries in the region to check if the vehicles meet the minimum standards. This would create lucrative growth prospects for the Automotive TIC market across Asia-Pacific region.

Major market player included in this report are:

Dekra Se
TUV SUD Group
Applus Services S.A.
SGS Group
TUV Nord Group
TUV RheinlanAG Group
Bureau Veritas S.A.
Intertek Group PLC
Eurofins Scientific
Element Materials Technology

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

he detailed segments and sub-segment of the market are explained below:

By Service Type:

Testing
Inspection
Certification
By Sourcing Type:
In-House
Outsourced

By Application:

Vehicle Inspection Services
Telematics
Electrical Systems & Components
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026

Target Audience of the Global Automotive TIC Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers VARs
Third-party knowledge providers
Investment bankers
Investors

Browse a Free Sample Report @

https://www.planetmarketreports.com/report-sample/global-automotive-tic-market-to-reach-usd-33-9-billion-by-2026

Customizations available

In case of any queries or customization requirements please connect with our sales team sales@planetmarketreports.com which will ensure that your requirements are met.

About Us:

Planet Market Reports gives statistical surveying reports to businesses, people and associations with a goal of helping them in their decision making process. We have huge database of market research reports & company profiles across globe.  We associated with global market research a publisher who has a wide range of research specialists & industry experts which provides you deeper penetration of market research industry.

We have statistical surveying reports from number of top publishers and update our reports collections on daily basis with most recent research data to furnish our customers with the moment online access to our database. With access to this database, our customers will be able to benefit from expert insights on worldwide businesses, items, and market patterns. We help you in your buy choice by mapping your data needs with our immense accumulation of reports.

Contact US:-

Name: Jennifer Daniel

Sr. Sales Manager

Email-Id: sales@planetmarketreports.com

US : +1-716-2260907

UK : +447441952057

Organization: Planet Market Reports

Web | Facebook | Linkedin | Twitter 

Leave a Reply

Your email address will not be published. Required fields are marked *