The global automotive homologation service market is worth US$ 1.37 Billion as of now and expected to reach US$ 1.89 Billion by the year 2032 at a CAGR of 3.2% between 2022 and 2032.
Homologation is the process of certifying that a vehicle, component, or system complies with the legal and technical requirements set by regulatory authorities. Automotive homologation services are in high demand due to the increasing complexity of vehicle technologies and the growing number of regulations governing vehicle safety and emissions.
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There are several factors that suggest that demand for automotive homologation services will continue to grow in the future:
- Globalization of the automotive industry: As the automotive industry becomes more globalized, manufacturers need to ensure that their vehicles meet the regulatory requirements of multiple countries and regions. This requires homologation services that can navigate the different regulatory frameworks and certification processes in different markets.
- Electrification of vehicles: Electric vehicles (EVs) are becoming more prevalent, and they require specialized homologation services to ensure that their high-voltage electrical systems meet safety standards. This includes testing and certification for battery systems, charging infrastructure, and other components unique to EVs.
- Technological advances in vehicles: As vehicles become more technologically advanced, homologation services are needed to ensure that new systems and components meet safety and regulatory requirements. This includes advanced driver assistance systems (ADAS), automated driving systems, and other cutting-edge technologies that require certification and approval.
Overall, the demand for automotive homologation services is likely to continue growing in the future as the automotive industry becomes more complex and regulated. This represents an opportunity for companies that specialize in these services to expand their offerings and build long-term relationships with manufacturers seeking to bring new vehicles to market.
It is a known fact that to export a vehicle to foreign country is not an easy task. There are various challenges that the manufacturer could face at the time of registration. The vehicles need to go through evaluation to demonstrate their prowess with the requirements worldwide. As such, homologation services come into picture. They help the manufacturer in enhancing product for meeting official standards pertaining to vehicles. Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Automotive Homologation Services Market’. It has worked on micros and macros with analysts and consultants at its discretion.
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Key Takeaways from Automotive Homologation Services Market
- The Asia-Pacific holds the largest market share with Australia leading from the front. The Australian Transport Ministry, in 2020, started developing national regulatory framework for letting autonomous vehicles operate smoothly all across Australia.
- Coming to the Europe, the government of Germany is laying down legislations for commercializing the ‘driverless vehicle technology’ with immediate effect. It, in fact, holds the distinction of being the very first extensive legal framework covering homologation to get robot axis.
Competitive Edge
- Intertek, in May 2022, did announce expanding the capabilities and services at its Transportation Technologies lab bas out of Plymouth (Devon) for meeting growing demand for reliable and safe testing from the automotive industry. The end-users include EVSE (Electric Vehicle Supply Equipment) and EVs (Electric Vehicles).
- The NHTSA (National Highway Traffic Safety Administration), of late, did announce a new AV test called ‘Automated vehicle Transparency and Engagement for Safe Testing Initiative test’ to help in keeping a tab on autonomous vehicles’ status in the US.
“With stringency with respect to applying norms to automobiles in the wake of growing focus on environmental protection and safety, the global automotive homologation services market is expected to stand in a good stead in the near future”, says an analyst from Future Market Insights.
Key Companies Profiled
- TÜV SÜD Group
- Intertek Group plc
- DEKRA SE
- Applus Services SA
- SGS S.A.
- Bureau Veritas
- Formel D Group
- The Smithers Group Inc.
- The Automotive Research Association of India
- AVL List GmbH
- TÜV Rheinland
- UL Solutions Inc.
- UTAC
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What’s more with Automatic Homologation Services Market?
- The research study is based on service type (full vehicle homologation, components & systems homologation (display systems, steering control systems, wireless & wired communication systems, brake systems, engine & transmission systems, seating systems, safety & crash protection systems, door components & systems, windshield systems, fuel systems, roofing systems, interior materials & systems, tires & tire pressure monitoring system, and others), by application (domestic homologation and export oriented homologation), and by vehicle type (motorcycle, passenger vehicles, commercial vehicles, trailers, and agricultural equipment).
- Increasing industrial activities help in promotion of strategic overseas trade operations. This is the factor prompting automotive service providers to gain a competitive edge.
Automotive Homologation Service Market Outlook by Category
By Service Type:
- Full Vehicle Homologation
- Components & Systems Homologation
- Display Systems
- Steering Control Systems
- Wireless & Communication Systems
- Brake Systems
- Engine & Transmission Systems
- Seating Systems
- Safety & Crash Protection Systems
- Door Components & Systems
- Windshield Systems
- Fuel Systems
- Roofing Systems
- Interior Materials & Systems
- Tires & Tire Pressure Monitoring System
- Other Components
By Application:
- Domestic Homologation
- Export Oriented Homologation
By Vehicle Type:
- Motorcycle
- Passenger Vehicles
- Commercial Vehicles
- Trailers
- Agricultural Equipment
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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