This Automotive Homologation Services Analysis market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Automotive Homologation Services Analysis market.
Automotive Homologation Services Market: Introduction
Homologation is a term 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) which is essential for the specified vehicle or component to enter into novel market. Automotive homologation Services starts with initial assessment of the product which followed by various tests according to directives and standards along with preparation of technical reports in order to acquire final approval from the regulatory body. Increasing export activities by market participants such as OEM and suppliers into automotive homologation driven markets is the key growth factor for automotive homologation services market. European Automotive Homologation services market is estimated to hold prominent market share owing to stringent European homologation standards.
Automotive Homologation Services Market: Drivers, Restraints and Opportunities
In the era of globalization, increasing industrial activities supports the anticipative foreign trade activities. Automotive homologation services are giving opportunity to exporters to entering into new markets to gain competitive advantage. Increasing foreign trade is anticipated to support the growth of automotive homologation services in the upcoming decade. Automotive and automotive component production is witnessing positive outlook backed by growing transportation need for human as well as goods. Positive momentum in the automotive & related component production are estimated to bolster the demand for automotive homologation services.
The consumers are giving concern for automotive safety and improved quality of the vehicle and components. Automotive homologation services ensuring to reach certain directives for improved quality and performance safety of the vehicle. Raising awareness among consumers about safety are estimated to propel the requirement for automotive homologation services in the recent years. To cater the certain requirements of the end users and enhanced ergonomics, many regulatory authorities are making stringent regulations and standards for automotive industry. The stringent regulations are estimated to drive the market growth of automotivehomologation services market. However, automotive homologation services are time consuming for the overseas qualification for tests. Increasing lead time are estimated to hinder the growth of automotive homologation services market.
Automotive Homologation Services Market: Regional Outlook
The growing stringent automotive homologation regulations in Europe is anticipated to hold the leading market share in Automotive Homologation Services market. East Asia is expected to register lucrative growth marcher followed by the South Asia in the Automotive Homologation Services market owing to growing automotive production and export activities in the respective region. In East Asia, China followed by India and Indonesia are the notable emerge in Automotive Homologation Services market owing to the fact of increasing foreign trade activities in the region.
Northern Africa and Middle East & Asia based manufacturers are gaining momentum in the area of automotive component manufacturing which is expected to enter into European Market in the coming years which is expected to gain momentum in the coming years.
Import Driven Automotive sector in the Middle East & Africa along with Oceania are estimated to witness stagnant growth in the global automotive homologation services market
Automotive Homologation Services Market: Key Participants
Some of the key player involved in Automotive Homologation Services market are focusing on developing the services as per latest amendment of the regulation in order to create its dominance in the Automotive Homologation Services market. Some of the key participants identified in the global Automotive Homologation Services market are:
- TÜV SÜD Group
- Intertek Group PLC
- EKRA SE
- Applus Services S. A.
- SGS Group
- Bureau Veritas S.A.
- Eurofins Scientific
- Lloyd’s Register Group Limited
- MISTRAS Group, Inc.
- Formel D
The Automotive Homologation Services research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Automotive Homologation Services research report provides analysis and information according to market segments such as geographies, application and industry.
The Automotive Homologation Services report covers exhaustive analysis on:
- Automotive Homologation Services Market Segments
- Automotive Homologation Services Market Dynamics
- Automotive Homologation Services Market Size
- Supply & Demand of Automotive Homologation Services
- Current Trends/Issues/Challenges in Automotive Homologation Services Market
- Automotive Homologation Services Competition & Companies involved
- Automotive Homologation Services Technology
- Automotive Homologation Services Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K., Spain, BENELUX, Nordic, Eastern Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The Automotive Homologation Services market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The Automotive Homologation Services market report also maps the qualitative impact of various market factors on market segments and geographies.
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Automotive Homologation Services Market: Segmentation
The global Automotive Homologation Services market can be segmented on the basis of Sourcing Type, Vehicle Type, and Region.
On the basis of Sourcing Type, global Automotive Homologation Services market can be segmented as:
- In House Services
- Outsourced Services
On the basis of Vehicle Type, global Automotive Homologation Services market can be segmented as:
- Passenger Vehicles
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Agricultural Equipment
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Automotive Homologation Services Market Analysis report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Automotive Homologation Services Market Analysis. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
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How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.