Global Automotive TIC Market is expected to reach USD 31.6 billion by 2025, from USD 18.11 billion in 2017 growing at a CAGR of 7.2% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic year is 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
The automotive TIC report contains different market predictions related to the market size, share, status production, cost analysis and market value with the forecast period 2018 to 2025. Besides upstream, raw materials, downstream demand analysis, consumption volume and the market share by segments and sub segments have also been mentioned. The research methodology involves both primary furthers as secondary research information sources. It commits different factors affecting the industry such as market environment, various policies of the government, past data, technological advancements, upcoming innovations, market risk factors and challenges in the industry.
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This automotive TIC report identifies the latest developments, market shares and strategies employed by the major market players. It develops and modify business expansion plans by using substantial growth offering developed and emerging markets. It provides most detailed study about the market that is estimated to grow at a tremendous rate over the forecast period 2019-2026. This automotive TIC market report provides key statistics on the market status of the key players and offers key trends and opportunities in the market.
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
Key Market Competitors:
The key players operating in the global automotive TIC market are –
Applus Services SA
Bureau Veritas SA
Intertek Group PLC
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, and UL LLC among other.
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.
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
By Sourcing Type
Electrical Systems and Components
Vehicle Inspection Services
Interior & Exterior Materials
Middle East & Africa
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.
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