PUBLISHER: The Business Research Company | PRODUCT CODE: 1546412
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546412
Automotive homologation services involve the certification process ensuring that a vehicle or its components meet the regulatory standards necessary for its sale or use in specific markets or countries. These services guarantee compliance with safety, environmental, and technical regulations mandated by governmental or regulatory bodies.
The main types of automotive homologation services include full vehicle homologation and component and system homologation. Full vehicle homologation entails verifying that an entire vehicle meets the established regulatory standards and requirements set by relevant authorities. This process applies to motorcycles, passenger vehicles, commercial vehicles, trailers, and agricultural equipment, catering to both domestic market requirements and export-oriented needs.
The automotive homologation service market research report is one of a series of new reports from The Business Research Company that provides automotive homologation service market statistics, including automotive homologation service industry global market size, regional shares, competitors with a automotive homologation service market share, detailed automotive homologation service market segments, market trends and opportunities, and any further data you may need to thrive in the automotive homologation service industry. This automotive homologation service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive homologation service market size has grown steadily in recent years. It will grow from $1.20 billion in 2023 to $1.22 billion in 2024 at a compound annual growth rate (CAGR) of 2.1%. The growth observed in the historic period can be attributed to several factors including regulatory compliance requirements, globalization of the automotive industry, increasing environmental concerns, rising consumer demands for safety, and intensifying market competitiveness.
The automotive homologation service market size is expected to see steady growth in the next few years. It will grow to $1.33 billion in 2028 at a compound annual growth rate (CAGR) of 2.1%. In the forecast period, growth can be attributed to the rising demand for electric vehicles, expansion in autonomous vehicle technologies, increasing transportation needs for both passengers and goods, growth in international trade, and heightened research and development activities. Major trends expected during this period include technological advancements across the automotive sector, progress in connected car technologies, integration of advanced driver assistance systems (ADAS), emphasis on sustainability and eco-friendly practices, and the adoption of real-time monitoring technologies.
The increasing demand for sustainable transportation is poised to drive growth in the automotive homologation service market in the coming years. Sustainable transportation refers to transport systems designed to minimize negative impacts on the environment, society, and economy, addressing current and future needs. This demand is driven by rising environmental concerns, regulatory requirements, and advancements in technology that enhance the accessibility and cost-effectiveness of eco-friendly options. Automotive homologation services play a crucial role in ensuring that environmentally friendly vehicles comply with rigorous safety, environmental, and technical standards necessary for market entry and consumer confidence. For instance, according to a March 2022 report from the US Department of Energy, electric vehicle (EV) sales surged by 85% in 2021. The number of new light-duty plug-in electric vehicle sales nearly doubled from 308,000 in 2020 to 608,000 in 2021, with EVs accounting for 73% of all plug-in electric car sales. This underscores the significant impact of growing demand for sustainable transportation on driving the automotive homologation service market.
Key players in the automotive homologation services sector are innovating with advanced platforms, such as cybersecurity testing platforms, to meet customer needs for enhanced capabilities. These platforms are specialized frameworks designed to assess the security of computer systems, networks, applications, and data by identifying vulnerabilities, testing defenses, and ensuring compliance with security standards and regulations. For example, in February 2024, AUTOCRYPT Corp., a South Korea-based cybersecurity and mobility solutions provider, launched AutoCrypt CSTP. This platform stands out with its comprehensive cybersecurity testing capabilities tailored for vehicle type approval compliance with UNECE Regulations 155/156 and SAC GB and GB/T standards. It employs a variety of vulnerability testing techniques using specific test cases mapped to these regulations. The platform enables seamless management of the entire testing process, including test case selection, configuration, real-time logging, and report generation, all through an intuitive GUI. This GUI securely connects with inspection centers and authorities worldwide, facilitating faster and more accurate decision-making.
In June 2023, Applus+, a Spain-based testing, inspection, and certification company, acquired Suzhou Chunfen Test Technology Services Co. Ltd. (CFI) to bolster its presence and capabilities in the automotive sector in China. This strategic acquisition allows Applus+ to leverage CFI's expertise and infrastructure, enhancing its ability to support automotive clients with a broader range of testing and certification services in the region.
Major companies operating in the automotive homologation service market are Ford Motor Company, Robert Bosch GmbH, Eurofins Scientific SE, SGS SA, Bureau Veritas, DEKRA SA, Intertek Group Plc, TUV SUD AG, Element Materials Technology Group Ltd., TUV Nord AG, FEV Group, Ricardo Plc, Applus+ IDIADA, National Technical Systems, China Automotive Technology & Research Center, Horiba MIRA Ltd., TUV Rheinland AG, Millbrook Motors, UTAC Ceram, PMG Technologies, Automotive Test Systems, AVL SET GmbH, Japan Automobile Research Institute Inc., Digitrans GmbH, ATEEL
North America was the largest region in the automotive homologation service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive homologation service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automotive homologation service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive homologation service market includes revenues earned by entities by providing services such as documentation, consulting services, regulatory compliance, and certification assistance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Homologation Service Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive homologation service market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive homologation service ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive homologation service market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.