Market Trends of Testing, Inspection, And Certification Industry For The Automotive Industry
Electric Vehicles to Witness Significant Growth
- Due to the increasing environmental concerns and adverse effects of traditional vehicles, the market is opening up for alternatives such as electric vehicles.
- As the adoption of EVs continues to rise, stringent safety and compliance regulations have been put in place to ensure these vehicles' reliability, performance, and safety. The TIC market plays a crucial role in verifying that EVs meet these regulatory standards, such as battery safety, electromagnetic compatibility, and crash-test requirements. Rigorous testing and certification help build consumer confidence in the safety and quality of EV models.
- The core components of an EV, such as the battery pack and electric powertrain, require extensive testing and validation to ensure optimal performance, durability, and longevity. For the widespread adoption of electric vehicles, the rules for testing and homologation of EV batteries are essential to ensure their safety, efficiency, and reliability. The compliance of EV batteries with strict safety and performance standards is verified by testing and homologation procedures. These processes assure manufacturers, regulators, and consumers that the batteries comply with the necessary specifications and can be used in various conditions.
- Moreover, modern EVs increasingly rely on complex software and connectivity features, such as advanced driver assistance systems (ADAS) and over-the-air (OTA) updates. The TIC market helps ensure these software-driven EV systems' cybersecurity, data privacy, and functional safety, which are crucial for maintaining customer trust and regulatory compliance.
- Furthermore, Germany-based TUV SUD TIC giant expressed interest in setting up an EV battery lab in India in the second phase of its project. These initiatives are expected to drive the market’s growth.
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Europe to Witness Major Growth
- The recovery in automotive manufacturing and trends like electric vehicles and autonomous cars are some of the significant factors driving the demand for TIC in the German automotive industry. Moreover, growth in safety technologies such as advanced driver-assistance systems (ADAS) and vehicles using sensors, cameras, and laser scanners, among others, is expected to create massive growth opportunities for the vendors of the market studied in the coming years.
- Germany is a major automotive hub globally due to the presence of major automotive and OEM manufacturing companies such as Robert Bosch GmbH, Volkswagen AG, and Daimler AG. Consistent development of vehicle-to-vehicle, vehicle-to-infrastructure, and in-vehicle entertainment technologies is expected to drive the market studied during the forecast period.
- Spain is the second largest automaker in Europe and also the 9th largest in the world. The automotive industry in Spain contributes approximately 10% to the country's GDP and represents approximately 18% of the exports. The Spanish automotive industry is an attractive destination for foreign investors. Based on insights provided by FDI, it has been the second preferred destination in Europe for new Greenfield Projects by multinational companies in the last few years.
- Poland's automotive industry stands as one of the country's most significant manufacturing sectors, accounting for 11.1% of the total production value, second only to the food industry. In recent years, Poland has attracted substantial foreign direct investment in automotive manufacturing, emerging as a major manufacturing hub for cars, car parts, and components in Central and Eastern Europe.
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