Future Market Insights (FMI) has conducted an in-depth analysis of the automotive homologation services market, revealing a projected valuation of USD 1,451.24 million by 2024. The market is anticipated to grow at a CAGR of 3.2% through 2034, reaching an estimated USD 1,988.66 million by the end of the forecast period.
Automotive homologation is a critical certification process that ensures vehicles and vehicle components meet the standards established by regulatory bodies. This certification is essential for manufacturers aiming to export automobile components and products, as compliance with homologation standards—particularly in safety and environmental protection—is mandatory in many regions.
As manufacturers place a heightened focus on environmental sustainability and safety, both automakers and spare parts producers are increasingly prioritizing enhancements in both passive and active vehicle safety features. The automotive homologation services market encompasses various vehicle types, including motorcycles, passenger cars, trailers, and commercial vehicles, with services available through both in-house and outsourced sourcing models.
Recent advancements in driverless technology are poised to revolutionize the automotive sector, prompting key market players to offer services that ensure compliance with Bluetooth, cellular carrier regulations, device durability testing, and more. These innovations present substantial growth opportunities for the homologation services market.
Exporting vehicles internationally involves navigating complex challenges, particularly during the registration process, where rigorous evaluations are necessary to demonstrate compliance with global standards. Homologation services are instrumental in helping manufacturers optimize their products to align with official vehicle standards.
The insights gathered in the latest FMI market study, “Automotive Homologation Services Market,” reflect the input from industry experts and consultants, providing a comprehensive overview of the market landscape.
Comprehensive Market Insights: Full Report Overview
Key Takeaways from the Automotive Homologation Services Market:
- Market Growth: The automotive homologation services market is projected to grow at a 3.2% CAGR, reaching USD 1,988.66 million by 2034, driven by continuous demand for compliance and regulatory adherence.
- Regional Insights: The Asia-Pacific region dominates the market, with Australia leading the way. In 2020, the Australian Transport Ministry began developing a national regulatory framework to facilitate the operation of autonomous vehicles.
- European Initiatives: In Germany, the government is enacting legislation to support the commercialization of driverless vehicle technology, establishing the first comprehensive legal framework covering homologation for autonomous vehicles.
- Technological Advancements: The rise of driverless technology is transforming the automotive landscape, with manufacturers needing to adapt to new compliance requirements, thereby creating significant growth opportunities for homologation services.
- Diverse Vehicle Types: The market encompasses a wide range of vehicles, ensuring that homologation services cater to the needs of various segments, including motorcycles, passenger cars, trailers, and commercial vehicles.
“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.
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.
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
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, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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