The global automotive homologation service market is worth US$ 1.37 Billion as of now and expected to reach US$ 1.885.6 Billion by the year 2032 at a CAGR of 3.2% between 2022 and 2032.
The procedure of automotive homologation appears to be used to certify automobiles and/or vehicle components if they have complied with the standards established by various statutory regulating organisations. For vehicle items or components to be qualified for export, governments all over the world have passed regulations. Every car must abide by the homologation requirements, especially in the areas of environment and safety. By all means, automotive systems and the parts that make them up should have these approvals in accordance with the official standards of the destination nations.
Automobiles and spare part producers need to work towards improving passive and active vehicle safety, with a focus on environmental sustainability and safety.
Vehicles including motorbikes, passenger cars, trailers, commercial vehicles, and similar vehicles are catered to by the automotive homologation services. The overall market for automobile homologation services could be divided into in-house services and outsourced services depending on the kind of sourcing.
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One of the notable technological advancements is driverless technology, which has the potential to completely alter the automotive industry. The main players offer services for Bluetooth compliance, cellular carrier and regulatory approvals, device durability testing, and similar things. The market as a whole should experience significant growth opportunities as a result of these developments.
It is common knowledge that exporting a vehicle to another country is not a simple process. The manufacturer may encounter a number of difficulties during registering. To prove they can meet regulations around the world, the vehicles must undergo examination. Homologation services are so necessary. They assist the company in improving the product so that it satisfies government requirements for cars. In its most recent industry analysis, named “Automotive Homologation Services Market,” Future Market Insights has provided insights that walk through these facts. It has, at its discretion, worked on micros and macros with analysts and consultants.
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.
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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.
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
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and the Pacific
- Middle East & Africa (MEA
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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.
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