Homologation is a term utilized for approval process of vehicle or vehicle components for meeting the certain standards of regulatory bodies. Automotive Homologation Services is a part of automotive TIC (Testing, Inspection & Certification) which is essential for the specified vehicle or component to enter into novel market. Automotive homologation Services starts with initial assessment of the product which followed by various tests according to directives and standards along with preparation of technical reports in order to acquire final approval from the regulatory body. Increasing export activities by market participants such as OEM and suppliers into automotive homologation driven markets is the key growth factor for automotive homologation services market. European Automotive Homologation services market is estimated to hold prominent market share owing to stringent European homologation standards.
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Automotive Homologation Services Market: Drivers, Restraints and Opportunities
In the era of globalization, increasing industrial activities supports the anticipative foreign trade activities. Automotive homologation services are giving opportunity to exporters to entering into new markets to gain competitive advantage. Increasing foreign trade is anticipated to support the growth of automotive homologation services in the upcoming decade. Automotive and automotive component production is witnessing positive outlook backed by growing transportation need for human as well as goods. Positive momentum in the automotive & related component production are estimated to bolster the demand for automotive homologation services.
Automotive Homologation Services Market: Regional Outlook
The growing stringent automotive homologation regulations in Europe is anticipated to hold the leading market share in Automotive Homologation Services market. East Asia is expected to register lucrative growth marcher followed by the South Asia in the Automotive Homologation Services market owing to growing automotive production and export activities in the respective region. In East Asia, China followed by India and Indonesia are the notable emerge in Automotive Homologation Services market owing to the fact of increasing foreign trade activities in the region.
Automotive Homologation Services Market: Key Participants
Some of the key player involved in Automotive Homologation Services market are focusing on developing the services as per latest amendment of the regulation in order to create its dominance in the Automotive Homologation Services market. Some of the key participants identified in the global Automotive Homologation Services market are:
- TÜV SÜD Group
- Intertek Group PLC
- EKRA SE
- Applus Services S. A.
- SGS Group
- Bureau Veritas S.A.
- Eurofins Scientific
- Lloyd’s Register Group Limited
- MISTRAS Group, Inc.
- Formel D
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The Automotive Homologation Services report covers exhaustive analysis on:
- Automotive Homologation Services Market Segments
- Automotive Homologation Services Market Dynamics
- Automotive Homologation Services Market Size
- Supply & Demand of Automotive Homologation Services
- Current Trends/Issues/Challenges in Automotive Homologation Services Market
- Automotive Homologation Services Competition & Companies involved
- Automotive Homologation Services Technology
- Automotive Homologation Services Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K., Spain, BENELUX, Nordic, Eastern Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Japan
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The global Automotive Homologation Services market can be segmented on the basis of Sourcing Type, Vehicle Type, and Region.
On the basis of Sourcing Type, global Automotive Homologation Services market can be segmented as:
- In House Services
- Outsourced Services
On the basis of Vehicle Type, global Automotive Homologation Services market can be segmented as:
- Motorcycle
- Passenger Vehicles
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Trailers
- Agricultural Equipment
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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