Bright Future for Hydrogen Automotive TIC Industry | CAGR 11.8%

 The global Hydrogen Automotive TIC Market is projected to grow from estimated USD 18.3 million in 2024 to USD 35.8 million by 2030, at a CAGR of 11.8% during the forecast period. The market is driven by the increasing commercialization of hydrogen technologies, growing focus on lifecycle risk assessment, and the emergence of hydrogen as a key energy carrier for future energy systems. The shift toward decentralized energy solutions and integrating hydrogen with renewable energy sources is prompting the need for robust certification and compliance services. Additionally, expanding international collaborations, growing investor interest, and developing hydrogen-powered industrial clusters boost demand for reliable testing, inspection, and certification to ensure the safety, efficiency, and long-term viability of hydrogen applications.

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Testing, by service

The testing segment is expected to witness the highest CAGR in the Hydrogen Automotive Testing, Inspection, and Certification (TIC) Market due to the increasing need to validate the performance, safety, and reliability of hydrogen components and systems. With the growing deployment of hydrogen in mobility, energy, and industrial applications, rigorous testing is essential for high-pressure storage, fuel cells, pipelines, and refueling infrastructure. Advancements in hydrogen technology, evolving regulatory frameworks, and heightened safety concerns are further driving demand for specialized testing services. Additionally, manufacturers seek third-party validation to ensure global compliance and market acceptance of hydrogen solutions.

Light commercial vehicles, by vehicle type

Light commercial vehicles (LCVs) are expected to grow at the highest CAGR in the Hydrogen Automotive TIC Market due to their rising adoption in last-mile delivery, urban logistics, and fleet operations seeking zero-emission alternatives. Hydrogen-powered LCVs offer fast refueling and extended range, making them ideal for high-utilization transport needs. Government incentives, stricter emission norms, and corporate sustainability goals accelerate the shift toward hydrogen LCVs. This surge drives demand for TIC services to ensure vehicle safety, component durability, and regulatory compliance, supporting the segment’s rapid growth in the coming years.

Regional Analysis

Europe is projected to be the fastest-growing region in the hydrogen automotive TIC market share, driven by strong regulatory support, ambitious decarbonization goals, and substantial investments in hydrogen mobility. The European Union’s Green Deal and Hydrogen Strategy have accelerated the development of fuel cell vehicles and refueling infrastructure. Countries like Germany, France, and the Netherlands lead large-scale pilot programs and public-private collaborations. Additionally, the presence of major automotive OEMs and stringent safety standards is boosting the need for TIC services to ensure reliability, compliance, and efficiency across the hydrogen vehicle ecosystem.

Key Players

Some of the major players in the Hydrogen Automotive Testing, Inspection, and Certification (TIC) Market are TÜV SÜD (Germany), UL LLC (US), Applus+ (Spain), TÜV Rheinland (Germany), Kiwa (Netherlands), Intertek Group plc (UK), DEKRA IN (Germany), Société Générale de Surveillance (SGS) SA (Switzerland), Southwest Research Institute (SwRI) (US), and Apave (France). The major strategies these players adopt include acquisitions, sales contracts, product launches, agreements, alliances, partnerships, and expansions.

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TÜV SÜD 

TÜV SÜD is the trusted partner of choice for safety, security, and sustainability solutions. TÜV SÜD focuses on managing technological risks and enabling progress, emphasizing sustainability and digitalization. Its services range from testing and certification to technical advisory, serving various industries to ensure safety and regulatory compliance. TÜV SÜD has a presence in Europe (comprises the home market of Germany as well as Western Europe and Central & Eastern Europe), Americas (covers both American continents, from Canada to the southern tip of South America), and Asia (combines all the countries of the Asia Pacific and South Asian area as well as the Middle East & Africa).

UL LLC 

UL LLC is a global safety science leader that provides independent TIC services and related software and advisory (“S&A”) offerings to customers worldwide. The company serves its customers through two complementary businesses: TIC and S&A. Its TIC business comprises two segments, Industrial and Consumer, which provide comprehensive TIC services to customers across a broad array of end markets.

Its S&A business is a global provider of software, data, and advisory solutions, enabling its customers to manage complex regulatory requirements, deliver supply chain transparency, and operationalize sustainability. In addition,  UL LLC has a presence in the US, China, Asia Pacific, Europe, the Middle East & Africa, and Other Americas.

Applus+ 

Applus+ provides testing, consulting, inspection, and certification services. The company offers quality control and accreditation services, project management, supplier and facility inspection, asset certification, and integrity services for the energy and industry sectors. It offers automotive inspection, vehicle condition, emission, engineering and registration inspection, homologation and product certification, structural, materials, fire and environmental testing solutions. Also, under its automotive business, it operates Applus+ IDIADA, which offers a wide range of services focused on the design, vehicle development, and testing for the automotive segment.

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Coring Market: Everything You Need to Know

 The global Coring Market is projected to grow from estimated USD 489.3 million in 2024 to USD 688.7 million by 2029, at a CAGR of 7.1% during the forecast period. The market is driven by the growing need for precise subsurface data to support resource extraction and environmental assessments. Technological advancements in coring methods, such as non-invasive techniques and enhanced recovery tools, have increased the efficiency of drilling operations. Furthermore, rising investments in critical sectors like renewable energy, particularly geothermal and hydrogen storage, are expanding the market. Additionally, the expansion of infrastructure in developing economies, along with increasing demand for raw materials and energy resources, strengthens the need for advanced coring solutions.

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By Wireline Coring Technology

The wireline coring segment is expected to be the fastest-growing due to its ability to offer efficient and cost-effective sampling for deep or challenging formations. Wireline coring technology allows for precise core retrieval without the need for a full drill string, reducing operational downtime and improving overall productivity. Its application in complex geological formations, offshore drilling, and unconventional resource exploration is driving the demand. Additionally, wireline coring offers minimal environmental impact, making it ideal for projects with strict regulatory requirements. As exploration and production activities expand, the segment’s growth is further supported by technological advancements.

By Well Type

The exploration well segment is expected to grow at the highest rate due to the increasing demand for new resource discoveries and geological insights in unexplored regions. Exploration wells are crucial for identifying and assessing potential reserves, driving the need for accurate core sampling to guide decision-making. As energy companies focus on finding new oil, gas, and mineral deposits, advanced coring technologies are essential for obtaining high-quality subsurface data. Additionally, growing investments in offshore and remote exploration projects, combined with rising global energy demand, are further fueling the growth of the exploration well segment.

Middle East is projected to be the fastest-growing Coring Market.

The Middle East region is expected to be the fastest-growing Coring Market Share due to increasing exploration and production activities in the oil, gas, and mineral sectors. Countries such as Saudi Arabia, UAE, and Kuwait are experiencing significant investments in oil and gas exploration, driving the need for advanced coring technologies. Additionally, the growing demand for energy and natural resources in emerging economies is fueling the expansion of mining and geothermal projects. With the region’s potential for untapped reserves, the adoption of advanced coring solutions for exploration, environmental assessments, and infrastructure development is expected to accelerate rapidly, further boosting the market growth.

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Key Players

Some of the major players in the Coring Industry are SLB (US), Halliburton (US), Baker Hughes (US), NOV (US), Deep Industries Limited (India), Geotek Limited (UK), US Coring LLC (US), and Reservoir Group (US). The major strategies adopted by these players include acquisitions, sales contracts, product launches, agreements, alliances, partnerships, and expansions.

SLB 

SLB offers products, services, technologies, information solutions, and integrated project management solutions to the global oil & gas industry. Its primary business activities include research & engineering, manufacturing, operations, maintenance, and resource planning. The company conducts its operations through four business segments: digital & integration, reservoir performance, well construction, and production systems. The company offers coring services through the reservoir performance segment.

Throughout its history, SLB has developed advanced tools for reservoir characterization, including imaging and production logging tools that integrate with other technologies to enhance understanding of reservoirs. Notable innovations include the Scanner 3D tools and the Quicksilver Probe for rapid fluid sampling. SLB has a geographical presence across North America, Latin America, Europe/Africa/the Commonwealth of Independent States (CIS), the Middle East, and Asia. The company has been involved in more than 100 CO2 storage projects globally. The company has executive offices in Paris (France), Houston (US), London (UK), and The Hague (Netherlands).

Halliburton 

Halliburton is one of the leading service providers and product suppliers for the energy industry, related to oil & natural gas exploration, development, and production. The company operates through two business divisions: completion & production and drilling & evaluation. It offers coring services through the drilling & evaluation segment.

Drilling and evaluation provide field and reservoir modeling, drilling, fluids, evaluation, and precise wellbore placement solutions that enable customers to model, measure, drill, and optimize their well construction activities. In addition, coring equipment and services are provided to extract formation cores for evaluating rock properties.

The company operates in more than 80 countries globally and has a geographic presence in regions such as North America, South America, Europe/Africa/the Commonwealth of Independent States (CIS), and the Middle East/Asia. Halliburton has significant manufacturing and corporate facilities in India, the US, Saudi Arabia, the UAE, Malaysia, the UK, Russia, Panama, Singapore, and Norway. The primary technology centers, R&D laboratories, and corporate offices of the drilling & evaluation segment are located in Alvarado (US), Nisku (Canada), and the Woodlands (US).

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Baker Hughes 

Baker Hughes is one of the leading US-based providers of systems, products, and oilfield-related services across the oil & gas value chain. The company primarily operates through two business segments: oilfield services & equipment and industrial & energy technology. The company offers coring services through the oilfield services & equipment segments. The OFSE segment designs and manufactures products and provides related services for onshore and offshore oilfield operations across the lifecycle of an asset, ranging from exploration, appraisal, and development to production, rejuvenation, and decommissioning.

Baker Hughes conducts operations through affiliates, subsidiaries, alliances, and ventures and has operations in more than 120 countries globally with a regional presence for oilfield services & equipment segments in North America, Latin America, Europe/CIS/Sub-Saharan Africa, and the Middle East/Asia.

Wind Turbine Operations and Maintenance: Rising Demand and Future Projections

The global Wind Turbine Operations and Maintenance Market Size is projected to grow from estimated USD 39.61 billion in 2025 to USD 59.67 billion by 2030, at a CAGR of 8.5% during the forecast period. The major factors driving the Wind Turbine Operations and Maintenance Market include the increased need for energy efficiency and the global trends toward carbon neutrality and sustainability. There is a significant increase in the number of wind energy installations around the world. As installations rise, there is a corresponding increase in demand for effective O&M services to ensure the performance and longevity of wind turbines. O&M practice is changing quickly due to the development of new technology such as predictive maintenance, remote monitoring, and artificial intelligence. Technologies allow owners/operators to have a proactive approach to detecting issues and minimizing downtime. The support for renewable energy projects from government incentives and policy is also a driver of the market. From an environmental perspective, there is a shift towards sustainability. This drives the O&M market as many operators are adopting more sustainable practices for maintenance and retaining or refurbishing used components rather than eliminating them altogether.

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The offshore segment of the wind turbine operations and maintenance (O&M) market is clearly changing due to the growth of offshore wind installations and the use of newer technologies. The offshore O&M sector is integrating predictive maintenance strategies, often integrated through AI and IoT deployment to provide real-time monitoring and detection of potential faults and current and/or anticipated failures to limit downtime as well as maintenance costs. The deployment of autonomous systems, like drones and remotely operated vehicles (ROVs), is increasing inspection and maintenance efficiencies. With these technological advancements, the offshore sector is starting to see a realized focus on sustainability, as companies and organizations begin to adapt and implement environmentally friendly maintenance strategies and equipment to minimize their overall environmental footprint.

The unscheduled maintenance of wind turbines is becoming more salient due to the complexity and size of wind energy projects. Unscheduled maintenance is defined as reactive maintenance because it is the result of unplanned equipment failure or breakdown. Unscheduled maintenance can also incur large amounts of downtime due to unplanned failures. Some of the factors creating the need for unscheduled maintenance are age of turbine fleet, harsh environmental conditions, and larger wind turbine sizes. To reduce unscheduled maintenance, the O&M market is increasingly using predictive analytics, remote monitoring, and drone inspections to identify faults before they happen. Along with the introduction of innovation in equipment, the wind turbine O&M market is looking to build supply chain continuity and reliability, as well as workforce training and preparedness. Predictive analytics, digital twins, and better monitoring are reducing surprise failures or unscheduled maintenance. There is a push towards proactive maintenance strategies to improve turbine uptime and reduce emergency interventions.

The North America wind turbine operations and maintenance market is projected to reach USD 10.45 billion by 2030, at a CAGR of 6.7% between 2025 and 2030. In the US, wind energy generation capacity grew to a total installed capacity of approximately 152 gigawatts (GW) in 2023, which is an increase of about 46% from 2019. Wind energy accounted for about 12% of the electricity provided in the country in 2023. The leading wind generation state in 2023 was Texas, with Iowa, Oklahoma, Kansas, and Illinois also leading in wind generation. Each of these leading states has wind resources that provide benefits for highly productive wind projects, along with infrastructure that allows wind generation projects to be constructed. Increased wind generation can also be attributed to improvements in technology that allow for greater turbine capacity and lower energy costs. Wind power has become one of the cheapest forms of power generation in the US.

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The global Wind Turbine Operations and Maintenance Market is dominated by major players that have a wide regional presence. Some of the key players in the Wind Turbine Operations and Maintenance Industry are Siemens Gamesa Renewable Energy, S.A.U. (Spain), Vestas (Denmark), GE Vernova (US), Nordex SE (Germany), Suzlon Energy Limited (India), Envision Group (China), SANY Renewable Energy Co., Ltd. (China), and Goldwind (China).

Siemens Gamesa Renewable Energy, S.A.U.

Siemens Gamesa Renewable Energy, S.A.U., a subsidiary of Siemens Energy AG, designs, manufactures, and sells both onshore and offshore wind turbines. The company also offers monitoring and maintenance of wind farms. Its services include diagnostic, energy thrust, multi-brand services, and offshore logistics services. The company operates under two segments: Wind Turbines and Service. It offers operation and maintenance services through its Service segment. The company uses digital tools to predict, detect, and fix problems remotely. Siemens Gamesa Renewable Energy, S.A.U. has installed over 130 GW of installed wind power capacity in the world, including over 130 installed capacity of onshore wind turbines, and it is one of the leaders in offshore wind with over 8 GW installed capacity.

GE Vernova

GE Vernova is a global leader in the electric power sector, with products and services that create, transfer, orchestrate, convert, and store electricity. The company’s goal is to design, manufacture, deliver, and service technologies to support a more reliable, secure, and sustainable electric power system, while permitting electrification and ultimately decarbonization. It has three business segments, namely, Power, Wind, and Electrification. The Wind segment provides operations and maintenance services. GE Vernova’s Onshore Wind division provides reliable and proven wind turbines: 2.8-127m, 3.6-154m, and 6.1-158m. To date, GE Vernova has created and installed approximately 57,000 wind turbines, totaling more than 120 GW of installed capacity, globally, in both onshore and offshore applications. The company has a geographical presence in the US, Europe, the Americas, Asia, and the Middle East & Africa.

AC Motors Market Likely to Boost Future Growth by 2029

The global AC Motors Market is projected to grow from estimated USD 4.60 billion in 2024 to USD 6.60 billion by 2029, at a CAGR of 7.5% during the forecast period. Industrial growth, rapid urbanization, and increased usage in HVAC systems, water treatment, and manufacturing activities are driving the demand for AC motors. The industries located in China, India, and Japan require AC motors for efficient operation, power pumps, fans, and compressors.

The 4-pole AC motor is the largest part of the AC motor market because it is versatile, energy-efficient, and has a lot of applications in various types of industries such as HVAC, pumps, and compressors. The motors work at constant speeds (1500 RPM at 50 Hz or 1800 RPM at 60 Hz) and have constant operations. Their balance of torque and speed also caters for heavy-duty and precision work, making them widely used in industries.

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This segment is largely the largest consumer of 500–900 kW-rated power due to its immense applications in heavy industries, like power generation, mining, and oil and gas. Such motors perfectly fit the high-power requirement of heavy operations while remaining highly efficient for demanding operations. Further, the trend in increasing application of automation and energy efficiency in processes of industry creates the need for these motors in the mentioned power range. They are a popular option in many industries due to their adaptability and dependability in managing demanding applications, which greatly contributes to their market domination.

The reason for the fast growth of the AC motors market share is the fast industrialization and urbanization within the Asia Pacific region, especially within the developing countries of China and India. The rising manufacturing sector, changing infrastructure, and the ever-increasing trend of employing energy-efficient technology are a few reasons why the need for AC motors is arising. Increasing usage of electric automobiles and HVAC systems is yet another reason contributing to its growth. The trend of AC motors in the region is further boosted by favorable government policies toward renewable energy projects and industrial automation.

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Some of the major players in the AC Motors Industry are ABB (Switzerland), Siemens (Germany), GE Vernova (US), WEG (Brazil) and NIDEC (Japan).

ABB

ABB is a leading power and automation technology company offering a wide range of products, services, and systems, namely, transformers, distribution automation products, high-voltage products, power transmission systems, grid integration systems, and others. The company has over 130 years of experience with motors and generators, and more than 40 years of expertise with drives in manufacturing, servicing and optimizing across a wide range of industries. The company has operations spread across more than 100 countries across 3 regions: Europe, the Americas and Asia, Middle East and Africa. ABB has 476 offices in 85 countries around the world.  ABB provides with general purpose to highly customized designs, synchronous motors and high voltage induction motors provide high efficiency, reliability and availability across all major industries, such as power generation, marine, oil and gas, mining, and data centers; and applications.

General Electric 

General Electric Company is a high-tech industrial company that operates worldwide through three segments: Aerospace, Renewable Energy, and Power. In April 2024, General Electric Company completed its transition of splitting into three separate companies with GE Vernova, GE Aerospace, and GE Healthcare all trading under separate stock tickers.

GE operates through four business segments: aerospace, renewable energy, power, and corporate. The power segment provides with AC motors. Along with motors, it provides with generators, automation and control equipment and drives for energy intensive industries such as marine, oil and gas, mining, rail, metals and test systems. General Electric Company operates in over 160 countries. Manufacturing and service operations are carried out at 59 manufacturing plants located in 24 states in the United States and Puerto Rico and at 102 manufacturing plants located in 25 other countries. Manufacturing facilities in Alabama, South Carolina and Tennessee, as well as R&D, sales, distribution and support operations in 46 states.