Automotive Fatigue Testing Market is Expected to Surpass the rising emphasis on vehicle safety, the stringent regulations imposed by governments, the increasing demand for lightweight materials, Help the Market to Reach New Heights
SkyQuest’s Automotive Fatigue Testing market report is an excellent analysis for individuals interested in gaining insight into the valuable data, trends, and opportunities in a rapidly growing industry. Additionally, the report is written clearly and concisely, making it accessible to various audiences, from industry experts to market readers. Finally, one can gain an in-depth understanding of the primary and secondary market drivers, providing them with a comprehensive outlook of the current market situation and future projections.
Westford, USA, April 17, 2023 (GLOBE NEWSWIRE) — The Automotive Fatigue Testing Market is projected to attain a value of USD 246.5 million by 2030, with a CAGR of 4.68% over the forecast period (2023-2030), driven by factors such as the rising emphasis on vehicle safety, the stringent regulations imposed by governments, the increasing demand for lightweight materials, and the growing demand for electric vehicles. According to a study by SkyQuest, vehicle safety is a top priority for consumers when purchasing a new vehicle, with 60% of consumers willing to pay extra for advanced safety features such as collision warning systems and adaptive cruise control.
SkyQuest’s recent global research reveals that the market for automotive testing, inspection, and certification services is expected to reach $11.4 billion by 2025, driven by the increasing complexity of automotive components and the need for more thorough testing solutions. SkyQuest found that 70% of engineers believe that automotive components are becoming more complex, while 65% believe that the testing process is also becoming more complicated. This survey underscores the need for more comprehensive testing solutions to ensure the safety and dependability of automotive components.
Browse in-depth TOC on “Automotive Fatigue Testing Market”
- Pages – 221
- Tables – 62
- Figures – 63
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The automatic fatigue testing market is essential in today’s automotive industry as it ensures that vehicles and their components can withstand the rigors of daily use, improving their safety and reliability. With the increasing complexity of vehicle components, there is a growing demand for more comprehensive fatigue testing solutions. The market is also driven by stringent government regulations, growing demand for lightweight materials, and increasing emphasis on vehicle safety.
Prominent Players in Automotive Fatigue Testing Market
- MTS Systems Corporation
- Illinois Tool Works Inc.
- Kistler Group
- HBM Test and Measurement
- Data Physics Corporation
- Moog Inc.
- Shimadzu Corporation
- ZwickRoell Group
- Calspan Corporation
- Vibratec Group
- Instron Corporation
- Dassault Systèmes
- AVL List GmbH
- MTSI Testing Systems
- ESI Group
- IMV Corporation
- Team Corporation
- ECON Technologies
- JASTI Co., Ltd.
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Component Testing Segment to Drive Higher Sales Due to Increasing Complexity of Vehicle Components
A recent analysis has revealed that the Component Testing segment played a significant role in the rapid growth of the Automotive Fatigue Testing market in 2021 and is expected to continue to contribute from 2022 to 2030, driven by the increasing complexity of vehicle components and the need for more comprehensive testing solutions to ensure their durability and reliability. According to SkyQuest, component testing is the most significant area of investment for automotive manufacturers, with 36% of respondents identifying it as a top priority. The survey also found that 75% of respondents plan to increase their investment in component testing over the next five years.
North America is predicted to emerge as a dominant player in the Automotive Fatigue Testing market from 2022 to 2030, according to research analysis. SkyQuest has projected that the region will grow at a CAGR of 5.82% during the forecast period, driven by the increasing demand for more comprehensive fatigue testing solutions and the adoption of advanced technologies. In the United States, the National Highway Traffic Safety Administration (NHTSA) has implemented strict regulations for vehicle safety, leading to a growing demand for more comprehensive fatigue testing solutions.
Dynamic Fatigue Testing Segment to Exhibit Strong Growth due to Increasing Complexity of Vehicle Components, the Need for More Comprehensive Testing Solutions
In 2021, the Dynamic Fatigue Testing method emerged as the dominant approach in the Automotive Fatigue Testing market and is expected to maintain its leadership position from 2022 to 2030, driven by the increasing complexity of vehicle components, the need for more comprehensive testing solutions, and the growing demand for lightweight materials. According to SkyQuest, dynamic fatigue testing was identified as the most critical area of investment for automotive manufacturers, with 33% of respondents indicating it as a top priority. The survey also revealed that 69% of respondents planned to increase their investment in dynamic fatigue testing over the next five years.
The Asia Pacific region has also emerged as a significant player in the Automotive Fatigue Testing market and is expected to retain its leading position by 2030. SkyQuest has predicted significant growth in the Automotive Fatigue Testing market for the Asia Pacific region, with a projected CAGR of 6.97% during the forecast period, driven by the growing demand for lightweight materials, increasing emphasis on vehicle safety, and strict government regulations in the region. In countries like China, the government has implemented stringent regulations for vehicle safety, resulting in a rising demand for more comprehensive fatigue testing solutions.
A comprehensive analysis of the major players in the Automotive Fatigue Testing market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Automotive Fatigue Testing Market
- CIMNE is leading the Fatigue4Light Consortium, which aims to develop new tests and computer simulation methods to estimate the fatigue life of chassis components and select optimal materials for lighter vehicle chassis. The project will run for three years, focusing on the application of new materials like advanced high-strength steels, special automotive stainless steels, high-strength aluminum alloys, and hybrid metal-fiber reinforced polymeric materials tailored to meet vehicle chassis requirements. The objective is to reduce vehicle chassis weight, considering eco-design and circular economy aspects, compared to current solutions.
- Applied Technical Services and JTL America, a fatigue testing lab based in Fort Wayne, IN, have entered into an equity partnership. Previously known as Knight Mechanical Testing, JTL America has been providing high-quality fatigue testing, rapid turnaround times, and excellent customer service practices to its global clients for almost 15 years. The company will continue to operate independently, serving its clients in the medical device, automotive, and aerospace industries uninterrupted. Kevin and Nolan Knight, the current leadership (President and Vice-President, respectively), will remain in their roles as both companies embark on a new phase of collaboration and mutual benefit.
Key Questions Answered in Automotive Fatigue Testing Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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