Global Automotive Homologation Services Market, By Sourcing Type (In House Services, Outsourced Services), Vehicle Type (Motorcycle, Passenger Vehicles, Commercial Vehicles, Trailers, Agricultural Equipment), Country ( U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Automotive Homologation Services Market
Automotive homologation services market will grow at a rate of 2.75% in the forecast period 2021 to 2028. Rise in the influence of autonomous vehicles acts as the vital factor escalating the demand for automotive homologation services market in the forecast period of 2021- 2028.
Homologation is defined as a term which is utilized for approval process of vehicle or vehicle components for meeting the certain standards of regulatory bodies. Automotive homologation services is a part of automotive TIC (testing, inspection & certification) that is essential for the specified vehicle or component to enter into novel market.
Rise in the transportation need for human as well as goods is the major driver escalating the market growth, also increase in the foreign trade, rise in the automotive production and export activities and rise in the research and development activities in the market are the major factors among others driving the automotive homologation services market growth. Moreover, increase in the technological advancements and modernization in the production techniques and rise in the demand from emerging economies will further create new opportunities for the automotive homologation services market manufacturers in the forecast period of 2021- 2028.
However, rise in the cost of research and development activities acts as the major factor acting as a restraint, and will further challenge the growth of automotive homologation services market in the forecast period.
Automotive homologation services market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on automotive homologation services market contact Data bridge market research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Automotive Homologation Services Market Scope and Market Size
Automotive homologation services market is segmented on the basis of sourcing type and vehicle type. The growth among various segments helps in the better analyzation of growth and strategies for better vision of market.
- On the basis of sourcing type, automotive homologation services market is segmented into in house services and outsourced services.
- Based on vehicle type, the automotive homologation services market is segmented into motorcycle, passenger vehicles, commercial vehicles, trailers and agricultural equipment.
Automotive Homologation Services Market Country Level Analysis
Automotive homologation services market is analyses and market size, volume information is provided by country, sourcing type and vehicle type as referenced above.
The countries covered in automotive homologation services market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa
Asia-Pacific dominates the automotive homologation services market due to increase in the foreign trade, rise in the automotive production and export activities and rise in the research and development activities in the market in this region.
The country section of the automotive homologation services market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Automotive Homologation Services Market Share Analysis
Automotive homologation services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive homologation services market.
The major players covered in the automotive homologation services market report are TÜV SÜD, Intertek Group plc, Applus+, SGS SA, Bureau Veritas, Eurofins Scientific, MISTRAS Group and Formel D among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analyst understands competitive strengths and provides competitive analysis for each competitor separately.
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