Global Homologation 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
In the forecast period from 2021 to 2028, the homologation market is projected to witness market growth of 5.10 percent. The homologation report of Data Bridge Market Research offers analysis and insights into the numerous factors that are expected to be prevalent during the forecast period while providing their effect on the growth of the market.
Homologation is a term used for the vehicle or vehicle part approval process to satisfy certain regulatory bodies' requirements. Automotive homologation services is a feature of the automotive TIC (testing, inspection and certification) that is required to reach the novel market for the stated vehicle or component.
The growing number of industrial activities while supports anticipative foreign trade activities, rising concern for automotive safety and improved quality of the vehicle and components, rising awareness among consumers about safety of the products, growth of the automotive industry across the globe are some of the major as well as important factors which will likely to accelerate the growth of the homologation market in the projected timeframe of 2021-2028. On the other hand, adoption of stringent regulations along with growing transportation need for human as well as goods which will further contribute by generating immense opportunities that will led to the growth of the homologation market in the above mentioned projected timeframe.
Time consuming for the overseas qualification for tests which will likely to act as a market restraint factor for the growth of the homologation in the above mentioned projected timeframe.
This homologation 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 homologation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Homologation Market Scope and Market Size
Homologation market is segmented on the basis of sourcing type and vehicle type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Homologation market on the basis of sourcing type has been segmented as in house services, and outsourced services.
- Homologation has also been segmented on the basis of vehicle type into motorcycle, passenger vehicles, commercial vehicles, trailers, and agricultural equipment. Commercial vehicles have been further segmented into light commercial vehicles, and heavy commercial vehicles.
Homologation Market Country Level Analysis
Homologation market is analysed and market size, volume information is provided by country, sourcing type and vehicle type as referenced above.
The countries covered in the homologation market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe will dominate the homologation market due to the adoption of stringent automotive regulations. Asia-Pacific region will expect to grow in the forecast period of 2021-2028 due to growth of the automotive industry along with rising number of export activities and foreign trade. North America on the other hand will grow at a highest growth rate due to the increasing growth of the manufacturing sector in the region.
The country section of the 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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the 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.
Competitive Landscape and Homologation Market Share Analysis
Homologation 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, regional presence, 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 homologation market.
The major players covered in the homologation market report are Applus+; Lloyd's Register Group Services Limited.; TÜV SÜD; Eurofins Scientific; Formel D; Bureau Veritas; DEKRA India Private Limited; MISTRAS Group, Inc.; SGS SA; Intertek Group plc; CIRT; Splan Corporate Solutions llp; TASS International; Eleos Compliance.; 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 analysts understand competitive strengths and provide competitive analysis for each competitor separately.
COVID-19 is an incomparable global public health emergency that has impacted virtually every sector, so the long-term consequences expected over the forecast period would impact the development of the industry. Our ongoing research amplifies our research process to ensure that the fundamental COVID-19 problems and alternative pathways forward are included.