NEWARK, DE / ACCESSWIRE / November 14, 2022 / The global automotive homologation service market is worth US$ 1.37 Bn as of now and expected to reach US$ 1.89 Bn by the year 2032 at a CAGR of 3.2% between 2022 and 2032.
Automotive homologation comes across as the process to certify vehicles/component of vehicle if it has met requirements set through several statutory regulatory bodies. Governments across the globe have enacted mandates in this regard to be eligible for exporting automobile components or products. Every automobile has to adhere to the homologation standards, particularly in areas of safety and environment. Automotive systems, along with their components, should, by all means, have these approvals as per the destination countries' official standards.
With top priority given to environmental protection in conjunction with safety, automobiles as well as manufacturers of spare parts need to work toward enhancing passive and active car safety.
Request a Sample of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-10913
The automotive homologation services cater to automobiles like motorcycles, passenger vehicles, trailers, commercial vehicles, and likewise. Based on type of sourcing, the entire automotive homologation services market could constitute in-house services and outsourced services.
Driverless technology is amongst the remarkable technological developments and expected to transform the automobile vertical's dimensions. The key participants are providing services covering compliance to Bluetooth, cellular carrier and regulatory approvals, device durability testing, and likewise. These developments ought to bring tremendous growth prospects to the market on the whole.
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.
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.
Request for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-10913
- 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.
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.
For more Information @ https://www.futuremarketinsights.com/reports/automotive-homologation-services-market
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
- Domestic Homologation
- Export Oriented Homologation
By Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
- Agricultural Equipment
- North America
- Latin America
- East Asia
- South Asia and Pacific
- Middle East & Africa
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
4. Key Success Factors
5. Global Automotive Homologation Services Market Demand (in Value or Size in US$ Mn) Analysis 2017- 2021 and Forecast, 2022-2032
5.1. Historical Market Value (US$ Mn) Analysis, 2017-2021
5.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032
5.2.1. Y-o-Y Growth Trend Analysis
5.2.2. Absolute $ Opportunity Analysis
As an [email protected] https://www.futuremarketinsights.com/ask-question/rep-gb-10913
Have a Look at Related Research Reports of Automotive
Automotive Repair & Maintenance Services Market : FMI expects global automotive repair and maintenance market to grow at 3.2% CAGR through 2031.
Automatic Tire Inflation System Market : is set to expand at over 5% CAGR through 2031.
Marine Fuel Injection System Market : to grow with a year-on-year growth of 3.4% in terms of value in 2022 reaching a value of about US$ 5,373.5 Mn by 2022 end.
Automotive TCU Market : size is estimated to cross US$ 18.20 Bn by 2032.
Bicycle Components Aftermarket : reached a valuation of US$ 13.5 Bn in 2021. Sales are projected to increase at a CAGR of 6.9% over the forecast period, to reach a valuation of US$ 28.3 Bn by 2032.
Compact Loaders Market : is expected to reach US$ 56.25 Billion by 2032.
Crawler Excavator Market : is projected to have a sluggish-paced CAGR of 2.7% during the forecast period. The current valuation of the market is US$ 49.08 Billion in 2022. The market value of the crawler excavator market is anticipated to reach a high of US$ 64.07 Billion by the year 2032.
Compact Wheel Loaders Market : is estimated to surpass US$ 5.27 Bn by the end of 2022.
MENA Commercial Vehicles (Trucks) Market : is projected to expand at 3.4% CAGR, in terms of volume between 2022 and 2027. Sales of commercial vehicles (trucks) in MENA will reach US$ 6.57 Mn by the end of 2022.
Aircraft Tire Market : is estimated to surpass US$ 4.55 Bn by 2032 and 5.8% CAGR between forecast period.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
Enquiries: [email protected]
SOURCE: Future Market Insights, Inc.