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The Automotive TIC Market is expected to grow at a CAGR of 2.2% from 2020 to 2027 to reach $17.2 billion by 2027. Growth of the Automotive TIC Market is mainly attributed to growing automobile production in emerging countries, strict regulatory standards, and increasing cases of vehicle recalls due to component failure. Furthermore, growing adoption of electric vehicles, increasing awareness among consumers regarding product quality and safety, and incorporation of technological advancements with rising adoption of connected devices in the automotive industry are factors expected to offer prominent growth opportunities for the growth of the market.
Here are the top 10 companies operating in the Automotive TIC Market
Eurofins Scientific is an international life sciences company, providing a unique range of analytical testing services to clients across multiple industries. Eurofins works with the biggest companies in the world to ensure the products they supply are safe, their ingredients are authentic, and labeling is accurate. Eurofins is a global leader in food, environmental, pharmaceutical, and cosmetic product testing and in agro science CRO services. It is also one of the global independent market leaders in certain testing and laboratory services for genomics, discovery pharmacology, forensics, CDMO, advanced material sciences, and in support of clinical studies.
With its subsidiaries and a strong distribution network, the company has its presence across Japan and China. Some of its subsidiaries include Lancaster Laboratories, DiscoveRx, MET Laboratories, Inc., and Biomnis.
SGS SA
SGS is the world’s leading inspection, verification, testing, and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 94,000 employees, the company operates a network of over 2,600 offices and laboratories around the world. The company operates in nine business segments, namely, Agriculture; Food & Life; Minerals; Oil, Gas, & Chemicals; Consumer & Retail; Certification & Business Enhancement; Industrial; Environment, Healthcare, & Safety; Transportation; and Government & Institution. The company offers automotive services through its Transportation segment. Its automotive services include automotive testing, inspection, and certification.
With its subsidiaries and strong distribution network, the company has its presence across the Americas, Europe, Africa, the Middle East, and Asia-Pacific. Some of its subsidiaries include SGS United Kingdom Ltd., SGS Australia, Ustav paliv a maziv, a.s., Vernolienne de Laboratoires SA, SGS Korea, and Maine Pointe.
Bureau Veritas is a world leader in testing, inspection, and certification. The company operates in the market through six business segments, namely, Agri-food & Commodities, Industry, Buildings & Infrastructure, Certification, Consumer Products, and Marine & Offshore.
With its subsidiaries and strong distribution network, the company has its presence across the Americas, Europe, Asia-Pacific, and the Middle East & Africa. Some of its subsidiaries Veritas include EMG Corporation, LCIE Bureau Veritas, Tecnicontrol S.A., and Primary Integration, LLC.
Dekra SE
DEKRA SE ensures the safety of human interaction with technology and the environment. The company’s broad service portfolio with qualified and independent expert services range from vehicle inspection and expert appraisals to claims services, industrial and building inspections, safety consultancy, testing and certification of products and systems, as well as training courses and temporary work.
With its subsidiaries and strong distribution network, the company has its presence across China, the US, South Africa, and New Zealand. Some of its subsidiaries include Dekra Akademie, Core Visual Inspection Services, Inc., and DEKRA Testing and Certification, S.A.U.
DNV GL is a global provider of assurance services and one of the world’s leading certification bodies, assisting companies in a range of industries to improve their business performance. The company provides classification, technical assurance, software, and independent expert advisory services to the maritime, oil & gas, power, and renewables industries. The company also provides certification and supply chain and data management services to customers across a wide range of industries.
With its subsidiaries and a strong distribution network, the company has its presence across the Nordic countries, Europe, Africa, Asia-Pacific, and North and South America. Some of its subsidiaries include GL Garrad Hassan Canada Inc., DNV GL Singapore Pte Ltd., and GL Noble Denton.
Meticulous Research in its latest publication on Automotive TIC Market has predicted the growth of 2.2% during the forecast year 2020-2027.
TÜV SÜD
TÜV SÜD is a global technical service provider committed to enabling progress by protecting people, environment, and assets from technology-related risks. TÜV’s range of services covers certification & testing, inspection, auditing & system certification, knowledge services, and training. The company operates through three business segments, namely, Industry, Mobility, and Certification.
With its subsidiaries and strong distribution network, the company has its presence across Europe, the Americas, and Asia. Some of its subsidiaries include TÜV SÜD America Inc., Bureau De Projetos E Consultoria Ltda, Uniscon Universal Identity Control GmbH, and Global Risk Consultants.
TÜV Rheinland AG Group is a global leader in independent inspection services. The company inspects technical equipment, products & services, oversees projects, and helps to shape processes and information security for companies. Its experts train people in a wide range of careers and industries. To this end, TÜV Rheinland employs a global network of approved labs, and testing & education centers. Since 2006, TÜV Rheinland has been a member of the United Nations Global Compact to promote sustainability and combat corruption.
Some of its subsidiaries are TUV Rheinland of North America, TUV Rheinland OpenSky, TUV Rheinland UK Limited, and TUV Rheinland Secure IT GmbH.
Applus+
Applus+ is one of the world’s leading testing, inspection, and certification companies. It provides solutions for customers in all types of industries to ensure that their assets and products meet quality, health & safety, and environmental standards and regulations. The company operates through four business segments, namely, Energy & Industry, Laboratories, Automotive, and IDIDA. The Automotive division is a leading global provider of statutory vehicle inspection services. This division provides vehicle inspection and certification services across a number of jurisdictions, where statutory vehicle inspections for compliance with technical safety and environmental specifications are a legal requirement.
With its subsidiaries and a strong distribution network, the company has its presence across the U.S, Canada, Latin America, Spain, the Middle East & Africa, and Asia-Pacific. Its subsidiaries include Ingelog SA, Applus+ IDIADA, Velosi, and Talon Test Labs.
Intertek Group is a multinational assurance, inspection, testing, and certification company. The company delivers innovative and bespoke assurance, testing, inspection, and certification solutions for customers’ operations and supply chains. Intertek total quality assurance expertise, delivered consistently with precision, pace, and passion, enables its customers to power ahead safely. The company operates through three business segments, namely, Product, Trade, and Resources.
With its subsidiaries and strong distribution network, the company has its presence across the US, China (including Hong Kong), the UK, and other countries. Some of its subsidiaries include Intertek Testing Services NA, Inc., Check Safety First Limited, Architectural Testing, and Professional Service Industries, Inc.
Lloyd’s Register Group Limited
Lloyd’s Register Group Limited is one of the world’s leading providers of professional services for engineering and technology, improving safety and increasing the performance of critical infrastructures for customers. The company operates through three business segments, namely, Marine & Offshore, Energy, and Business Assurance & Inspection Services. Some of its subsidiaries include Lloyd’s Register Quality Assurance, ModuSpec Engineering (International) BV, Lloyd’s Register Consulting – Energy AS, and Lloyd’s Register Quality Assurance Ltd.
Popular Mention: British Standards Institution (BSI) (U.K.), Norges Elektriske Materiellkontroll (NEMKO) (Norway), TÜV Nord Group (Germany), Mistras Group (U.S.), and Element Materials Technology Ltd. (U.K.)
Authoritative Research on the Automotive TIC Market – Global Opportunity Analysis and Industry Forecast (2020-2027)
Need more information? Meticulous Research®’s new report covers each of these companies in much more detail, providing analysis on the following:
- Recent financial performance
- Key products
- Significant company strategies
- Partnerships and acquisitions
The Comprehensive report provides global market size estimates, market share analysis, revenue numbers, and coverage of key issues and trends.
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