What Fueled The Previous Growth In The Automotive Quality Service Market?
The automotive quality service market has seen considerable growth due to a variety of factors.
• The automotive quality service market has shown strong growth in recent years. It will increase from $26.4 billion in 2024 to $28.97 billion in 2025, at a CAGR of 9.7%.
Factors contributing to the growth include stringent government regulations on vehicle safety, higher consumer expectations, the globalization of automotive supply chains, increasing competition among manufacturers, and the growth of the aftermarket sector.
How Does the Forecast Look for the Automotive Quality Service Market?
The automotive quality service market is expected to maintain its strong growth trajectory in upcoming years.
• The automotive quality service market is forecast to grow to $41.44 billion by 2029 at a CAGR of 9.4%.
This growth is driven by the rise of electric and autonomous vehicles, the adoption of Industry 4.0 technologies, increased use of data analytics and AI, the demand for high-quality and reliable services, and the globalization of the automotive industry. Key trends include innovation in vehicle technologies, integration of ADAS, the use of 3D printing and advanced manufacturing, partnerships with technical schools and automotive academies, and predictive maintenance using AI.
What Are The Leading Drivers Of Growth In The Automotive Quality Service Market?
Rising vehicle production is expected to boost the automotive quality service market. This increase is due to factors like economic growth, globalization, and government incentives. Automotive quality services ensure that vehicles meet high standards of safety, reliability, and performance. In May 2023, ACEA reported that global motor vehicle production reached 85.4 million units in 2022, a 5.7% increase from 2021. As a result, higher vehicle production is driving the growth of the automotive quality service market.
How Are The Segments Defined Within The Global Automotive Quality Service Market?
The automotive quality service market covered in this report is segmented –
1) By Type: Testing Services, Certifying And Validating Services, Quality Sorting Services
2) By Vehicle Type: Passenger Cars, Commercial Vehicle
3) By Application: Electrical Systems And Components, Telematics, Vehicle Inspection Services, Homologation Testing, Interior And Exterior Materials, Other Applications
4) By End-User: Original Equipment Manufacturers (OEMs), Tier 1 And Tier 2 Suppliers, Aftermarket Service Providers, Regulatory Authorities
Subsegments:
1) By Testing Services: Durability Testing, Performance Testing, Emissions Testing, Safety Testing, Environmental Testing
2) By Certifying And Validating Services: Regulatory Certification, Process Certification, Product Validation, Supplier Audits
3) By Quality Sorting Services: Visual Inspection, Functional Sorting, Dimensional Sorting, Non-Destructive Testing (NDT), Sorting Of Non-Conforming Parts
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Which Emerging Market Trends Are Altering The Automotive Quality Service Industry?
Companies in the automotive quality service market are focusing on multi-brand car repair and maintenance services to offer better convenience, service accessibility, and cost-effective solutions. In June 2024, CARS24 launched Fourdoor, a multi-brand service platform in India. This service offers comprehensive vehicle maintenance and repairs for all car brands, unlike traditional brand-specific centers, aiming to provide convenience and quality while addressing the challenges faced by car owners in the region.
Who Are the Key Players In The Automotive Quality Service Market?
Major companies operating in the automotive quality service market are:
• Dragon Solutions Ltd.
• Bureau Veritas
• Intertek Group plc
• Alten Group
• FEV Group GmbH
• Horiba Ltd.
• Applied Technical Services Inc.
• Bertrandt AG
• ARRK Product Development Group Ltd.
• EDAG Group
• Altair Engineering Inc.
• TRIGO S.A.
• Stratosphere Quality LLC
• ESG Elektroniksystem- und Logistik-GmbH
• National Technical Systems Inc.
• Millbrook Proving Ground Limited
• Matrix Quality Services Inc.
• Weiss Technik North America Inc.
• CSI S.p.A.
• Automotive Quality & Logistics Inc.
• Ashton Technologies Inc.
• Element Materials Technology Ltd.
• Quality Service Group
• ASAP Holding GmbH
• Dragon Solutions Ltd.
What Is The Most Dominant Region In The Automotive Quality Service Market?
North America was the largest region in the automotive quality service market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive quality service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
