Automotive Crash Test Market Worth US$ 165.32 million by 2033
According to the Market Statsville Group (MSG) , the?global automotive crash test market?size is expected to grow from?USD 126.0 million?in 2022?to?USD 165.32 million by 2033, at a?CAGR of 2.50%?from 2023 to 2033. Crash test plays an important role in minimizing the amount of deformation that this space incurs to create vehicles that will provide the highest possible level of protection during all types of collisions. The primary purpose of vehicle crash tests is to evaluate the deformation of the vehicle's passenger-carrying compartment in various collision scenarios. Growing technological advancements with the increasing demand for high-rating vehicles in the market and growing government initiative and rules and regulation in this market has boosted the market growth over the forecast period all around the globe.
Crash test assists the people or the consumer in providing the better safety and securities feature in the automotive sector. Moreover, the increasing the manufacturing of car all over the world is a major factor driving the growth of the automotive crash test market. The crash test provides a quick check on the built quality of the car or any vehicle and provides a rating according to their built quality. Crash tests are important for the automotive company as well as for the consumer for their safety purposes as they ensure safe design standards in crashworthiness and crash compatibility for any vehicle.
Definition of the Global Automotive Crash Test Market
A crash test is a type of destructive testing that is typically used to guarantee safe design requirements for crashworthiness and crash compatibility for various modes of transportation (automotive safety) or associated systems and components. There is various type of test that is held by the company some of them are frontal-impact tests, moderate overlap tests, small overlap tests, side-impact tests, pole-impact tests, roadside hardware crash tests and many more.
Crash testing is carried out in accordance with strict scientific and safety guidelines. Each crash test is quite expensive, the most data possible must be retrieved from each test. Usually, this requires the use of high-speed data acquisition, at least one triaxial accelerometer and a crash test dummy, but it often includes more.
Around the world, there are a variety of crash test programmes committed to providing consumers with comparative information on the safety performance of new and old automobiles. The National Highway Traffic Safety Administration's NCAP, the Insurance Institute for Highway Safety, the Australasian New Car Assessment Program, EuroNCAP, and JapNCAP are all examples of new car crash test programmes. Used Car Safety Ratings, for example, offer buyers with information on the safety performance of automobiles based on real-world collision data.
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COVID-19 Impact on the Global Automotive Crash Test Market
Covid-19 has resulted in unprecedented economic hardships to millions of people around the world. Many of them have lost their jobs and are struggling to make their loan repayments or pay their credit card bills on time. However, despite the global lockdown, trade restrictions, national and international travel restrictions, and bans, had affected the global automotive crash test market. The automotive crash test market has witnessed a negative impact of the COVID-19. The negative impact brought by COVID-19 is becoming more and more significant. As a result, the global economy is projected to contract sharply by -3% in 2020. Even, the China is one of the major economies for which automotive sector is one of the top pillar industries, witnessed a sharp decline in demand. For instance, according to the China Association of Automobile Manufacturers (CAAM), sales of passenger cars declined 42.4% year over year during that period. SAIC, one of China’s largest manufacturers, reported a 44.9% percent drop year to date in April. Its SAIC-Volkswagen and SAIC-General Motors joint ventures, which comprise the majority of its sales volumes, dropped 50.4% and 47.7% year over year in retail sales from January to April respectively. Such factors negatively affect the demand for the automotive crash test market during COVID-19. Due to these reasons automotive crash test market has witnessed a decline over the period as global automotive market is directly proportional to global automotive crash test market.
Global Automotive Crash Test Market Dynamics
Drivers:?Increasing car manufacturing has fueled the market’s growth
In Automobiles cars are a liberating technology for people around the world. The rapid increase in the industry increases the manufacturing of cars all over the world and the increasing concern about the people’s security and safety has boosted the market growth for this market over the forecast period. The global auto industry is a key sector of the economy for every major country in all around the globe. Industry accounts for a major portion of the economic growth of any country as it creates enormous employment opportunities.
The automotive industry is predicted to continue growing between 2021 to 2030 and will consist of 123.83 million units by the end of the decade, representing a significant leap from 2020 85.32 million units. In terms of market size, the automobile manufacturing industry now ranks first among all worldwide manufacturing industries. This increase in the automotive industry has boost the market growth of automotive crash test market over the forecast period in all around the world.
Restraints:?Associated with high initial investment
The high installation cost associated with the establishment of car testing will hamper the growth of the market. Car testing is the first and most required thing is huge initially cost required for the developing of tracks and hurdles for testing cars. Crash test dummies are designed to simulate human bodies in collisions and indicate where automobiles may be made safer. They are also significant investments, with a stripped-down historical model starting at $100,000 and the most recent crash test dummies costing close to $1,000,000. As a result, high real estate and plot prices would impede market expansion throughout the predicted period.
Furthermore, the ground is then prepared for the car testing it will be covered with various hurdles, pebbles, and other things, which are generally available on regular roads, to ensure the real-time response of the car in any uncertainties on the public roads. This all involves huge latent costs for the service providers. On the contrary, end-users of the market will demand the less-pricing possible hence, impacting the profitability of the service providers of the market. This, in turn, hampers the growth of the market over the forecasting period across the globe.
Opportunities:?Government involvement, new policies and advancing technologies
Advancing technologies play a crucial role in changing the scenario of the world in all segments, including transportation, vehicles or many other. With the use of technology various car manufacturers such as Mercedes, Google Car, Tesla, and others, have developed autonomous cars. Driver assistance technologies, which aid in the saving of lives and the prevention of injuries on the nation's roadways. While some driver assistance systems are intended to notify the passenger if a collision is imminent, others are intended to take action to avert a collision. The ongoing advancement of vehicle technology, such as driver assistance technologies and automated driving systems, aims to provide even greater safety benefits. This advancement in new technologies had boost the market growth and created a lot of opportunities for the market player to capture the market over the forecast period.
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Scope of the Global Automotive Crash Test Market
The study categorizes the automotive crash test market based on type and application area at the regional and global levels.
By?Type Outlook?(Sales, USD Billion, 2019-2033)
By?Application Outlook?(Sales, USD Billion, 2019-2033)
By Region Outlook?(Sales, USD Billion, 2019-2033)
Frontal Crash Tests segment accounts for the largest market share by product type
Based on type, the market is bifurcated into frontal crash tests, side barrier crash tests and side pole crash tests. The?frontal crash tests?segment is expected to dominate the market share in 2022 in the global automotive crash test market. This test is intended to simulate what occurs when a vehicle's front left corner collides with another vehicle or an object such as a tree or utility pole. This test provides a wide range of securities check, due to this this segment had seen the growth over the forecast period.
North America is projected to account for the highest market share by Region
Based on the regions, the global automotive crash test market has been segmented across North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America is projected to account the highest market share in 2022.?The growing automotive industry outlook covers the demand of this market over the forecast period. The market is likely to be driven by increased electric mobility across key North American nations. Furthermore, rising government assistance in the form of beneficial initiatives and policies is likely to stimulate market demand.
Key Market Players in the Global Automotive Crash Test Market
The automotive crash test market is extremely cutthroat, and significant competitors in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.
Major key players in the global automotive crash test market are: