The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Introduction: A Thriving Sector

• The automotive testing, inspection, and certification market has experienced steady growth.
• From $20.58 billion in 2023 to $21.17 billion in 2024, with a CAGR of 2.8%.
• Drivers: Increasing complexity of automotive technologies, stringent regulations, globalization, and consumer demand for quality.

Steady Growth Continues

• Forecast: Expected to reach $24.03 billion in 2028 with a CAGR of 3.2%.
• Factors: Rising adoption of electric and hybrid vehicles, sustainable certification processes, technological advancements.
• Trends: Technological advancements, third-party testing, integrated solutions, data analytics, virtual testing.

Automobile Production Boosts Growth Of Automotive Testing, Inspection, And Certification Market

• Automobile production drives market growth.
• Example: Sales of commercial vehicles surged, with medium and heavy commercial vehicles rising from 1.6 million to 2.4 million units.
• Increase in automotive sales projected by the Alliance for Automotive Innovation.
• Key players: SGS SA, Bureau Veritas SA, Intertek Group plc, among others.

View More On The Automotive Test Equipment Market Report 2024 – https://www.thebusinessresearchcompany.com/report/automotive-test-equipment-global-market-report

Increasing Focus On Enhancing Customer Experience To Gain A Competitive Edge

• Companies prioritize customer experience for competitive advantage.
• Example: SGS S. A. introduced a Digital Hub to enhance customer journeys and achieve digitalization targets.
• Acquisition: Applus Plus acquired Entidad IDV Madrid SL, strengthening its position in Spain.

Market Segmentation

• Service Type: Testing Services, Inspection Services, Certification Services, Other Services.
• Sourcing Type: In-house, Outsourced.
• Application: Electrical Systems and Components, Telematics, Interior and Exterior Materials and Components, Fluids and Lubricants, Vehicle Inspection Services, Homologation Testing, Other Applications.

North America Leads, Asia-Pacific Grows

• North America dominated the market in 2023.
• Asia-Pacific expected to witness the fastest growth in the forecast period.

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The Automotive Test Equipment Global Market Report 2024  provides comprehensive insights on the automotive test equipment market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the automotive test equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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