Rapid Growth Predicted for Global Hydrogen Automotive TIC Market
Key Ideas
  • The global hydrogen automotive TIC market is projected to double from USD 18.3 million in 2024 to USD 35.8 million by 2030, with a CAGR of 11.8%.
  • The market growth is driven by the increasing commercialization of hydrogen technologies and the integration of hydrogen with renewable energy sources.
  • Light commercial vehicles (LCVs) are expected to lead the growth due to their adoption in last-mile delivery and urban logistics, supported by government incentives and sustainability goals.
  • Europe is identified as the fastest-growing region in the market, fueled by regulatory support, decarbonization goals, and investments in hydrogen mobility.
The global hydrogen automotive Testing, Inspection, and Certification (TIC) market is set to experience significant growth, with a projected increase from USD 18.3 million in 2024 to USD 35.8 million by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 11.8% during the forecast period. This growth is attributed to various factors such as the increasing commercialization of hydrogen technologies, a heightened focus on lifecycle risk assessment, and the emergence of hydrogen as a pivotal energy carrier for future energy systems. The market is witnessing a shift towards decentralized energy solutions and the amalgamation of hydrogen with renewable energy sources, necessitating robust certification and compliance services. There is a notable surge in international collaborations, investor interest, and the development of hydrogen-powered industrial clusters, all contributing to the demand for reliable testing, inspection, and certification services to ensure the safety, efficiency, and long-term viability of hydrogen applications. Among the key points highlighted, the testing segment is expected to showcase the highest CAGR in the market due to the crucial need for validating the performance, safety, and reliability of hydrogen components and systems. Light commercial vehicles (LCVs) are projected to experience rapid growth in the market, driven by their increasing adoption in last-mile delivery and urban logistics sectors seeking zero-emission alternatives. Regionally, Europe stands out as the fastest-growing region in the hydrogen automotive TIC market, propelled by robust regulatory support, ambitious decarbonization objectives, and substantial investments in hydrogen mobility. Major players in this market include TUV SUD, UL LLC, Applus+, TUV Rheinland, and others, who employ various strategies like acquisitions, alliances, and product launches to maintain their competitive edge and cater to the growing demand for hydrogen automotive TIC services.
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