Mexico Automotive TIC (Testing, Inspection and Certification) Market - 2023-2030

Mexico Automotive TIC (Testing, Inspection and Certification) Market - 2023-2030

The Mexico automotive TIC (testing, inspection, certification) market reached US$ 634.9 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 1,319.7 million by 2030. The market is growing at a CAGR of 11.0% during the forecast period (2023-2030).

The Mexican automotive industry is an important player in the global automotive market, with a large number of international automotive manufacturers operating in the country. As a result, the demand for TIC services in Mexico is high, and the market is expected to continue to grow in the coming years. Services offered by major testing and inspection agencies in the Mexican automotive market include testing and inspection services for safety and environmental compliance, quality control, and certification services for international standards.

Market Dynamics

Increasing regulatory requirements for safety and environmental standards

The Mexican government has implemented a number of regulations and standards to ensure the safety of vehicles on the road and to reduce the impact of the automotive industry on the environment. The Mexican government has implemented safety regulations such as NOM-194, which requires vehicles to meet safety standards for crash tests, as well as NOM-042, which sets standards for emissions and fuel consumption. In addition to government regulations, international standards such as ISO 9001 and ISO 14001 also require automotive manufacturers to conduct regular testing and inspections to ensure compliance. TIC services are necessary to meet these international standards and to maintain the quality and safety of automotive products.

The increasing demand for electric and hybrid vehicles creates lucrative growth prospects for the market

The Mexican government has set a target of having 1 million electric and hybrid vehicles on the road by 2025, which has led to an increase in investment in the development and production of these vehicles in the country.

Electric and hybrid vehicles have different safety and environmental requirements than traditional combustion engine vehicles, creating a need for specialized testing, inspection and certification services. It includes testing and inspection of electric batteries, charging systems, and other components unique to electric and hybrid vehicles. The growing demand for electric and hybrid vehicles presents a significant opportunity for testing companies in Mexico to expand their services and cater to this emerging market.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The Mexico automotive TIC (testing, inspection and certification) market is segmented based on type, product type and vertical.

Due to their criticality, engine and gears type testing retains the highest

Engine and gear testing retains the highest share of nearly 28% in the by type segment. Engine and gear tests also play a crucial role in ensuring compliance with safety and environmental regulations, as emissions and fuel consumption are directly affected by the performance of the engine and gearbox. In addition to regulatory requirements, engine and gear tests are also required for quality assurance and to ensure that the vehicle meets the performance and safety standards set by manufacturers. As such, engine and gear testing is a crucial component of the automotive TIC market in Mexico and is expected to continue to be a leading test type in the future.

Competitive Landscape

The major global players in the market include SGS SA, Intertek PLC, TÜV Rheinland, Bureau Veritas, UL Solutions, Element Materials Technology, Dekra, Rohde & Schwarz GmbH & Co KG, Anritsu and AVL List GmbH.

Why Purchase the Report?
• To visualize the Mexico automotive TIC (testing, inspection and certification) market segmentation based on product, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of Mexico automotive TIC market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The Mexico automotive TIC (testing, inspection, certification) market report would provide approximately 36 tables, 43 figures and 195 Pages.

Target Audience 2023
• Automotive Manufacturers
• Automotive Testing Companies
• Industry Investors/Investment Bankers
• Research Professionals
• Regulatory Agencies