Automotive Homologation Service Market to Grow at 1.4% CAGR, Reaching $1.31 Billion by 2029

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Automotive Homologation Service Market Outlook: How is the Market Expected to Grow by 2025?
In the past few years, there has been a slight increase in the size of the automotive homologation service market. The market value is anticipated to expand from $1.22 billion in 2024 to $1.24 billion in 2025, representing a compound annual growth rate (CAGR) of 1.0%. Factors such as regulatory compliance, the globalization of the automotive industry, environmental issues, consumer safety requirements, and market competitiveness have all contributed to the growth during the historical period.

Automotive Homologation Service Market Forecast: What Size Will It Reach By 2029?
In the coming years, the automotive homologation service market is projected to experience a slight increase, reaching a value of $1.31 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 1.4%. Enhanced interest in electric cars, the rise of self-driving vehicles, heightened demand for the transportation of goods and individuals, growth in international trade, as well as an escalation in research and development activities all contribute to this projected growth during the forecast period. Key trends to watch in this timeframe include the development of technology, the progress of integrated car technology, the incorporation of Advanced Driver Assistance Systems (ADAS), adoption of sustainable and ecologically conscious practices, and the embrace of real-time monitoring techniques.

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Which Key Market Drivers Will Shape Automotive Homologation Service Industry Trends in 2025-2029?
The automotive homologation service market's growth is anticipated to be fueled by the increasing demand for sustainable transportation. Sustainable transportation, which involves transportation modes and systems designed to minimize negative effects on the environment, society, and economy currently and in future generations, is becoming more popular. This popularity can be attributed to mounting environmental concerns, regulatory pressures, and technological advancements that make environment-friendly options more accessible and cost-effective. Automotive homologation services are crucial for sustainable transportation as they ensure that eco-friendly vehicles adhere to strict safety, environmental, and technical standards necessary for market introduction and consumer confidence. For example, in April 2023, a report from the International Energy Agency, an autonomous intergovernmental organisation based in France, stated that China represents around 60% of worldwide electric car sales, with over half of the global electric vehicles found in the country. Interestingly, China has already exceeded its 2025 objective for new energy vehicle sales. In Europe, the second-largest electric car market, sales increased by over 15% in 2022, with more than a fifth of cars sold being electric. Meanwhile, in the USA, the third-largest market, electric car sales saw a 55% rise in 2022, achieving an 8% market share. Over 2.3 million electric vehicles were sold in the first quarter of 2023, representing a 25% increase from the same period the previous year. By the end of 2023, sales are forecasted to hit 14 million - a 35% increase from the previous year, with a significant rise in purchases expected in the second half of the year. Therefore, it is evident that the increasing demand for sustainable transportation is propelling the growth of the automotive homologation service market.

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What Are the High-Growth Segments in the Automotive Homologation Service Market?
The automotive homologation service market covered in this report is segmented -

1) By Service: Full Vehicle Homologation, Components And Systems Homologation
2) By Vehicle: Motorcycle, Passenger Vehicles, Commercial Vehicles, Trailers, Agricultural Equipment
3) By Applications: Domestic Homologation, Export Oriented Homologation

Subsegments:
1) By Full Vehicle Homologation: Regulatory Compliance Testing, Safety Standards Certification, Emission and Environmental Testing, Vehicle Type Approval, Vehicle Performance Testing
2) By Components and Systems Homologation: Powertrain Components Homologation, Electrical Systems Certification, Brake System Homologation, Suspension System Homologation, Infotainment and Connectivity Systems Approval

Which Global Trends Are Driving Automotive Homologation Service Market Expansion?
Leading companies in the automotive homologation services sector are producing state-of-the-art platforms such as cybersecurity testing platforms, providing superior operational capabilities to their customers. These platforms are dedicated tools and frameworks that evaluate the security status of computer systems, networks, data, and application by spotting vulnerabilities, examining defenses, and ensuring adherence to security norms and regulations. AUTOCRYPT Corp., a cybersecurity and mobility solutions firm from South Korea, for example, introduced AutoCrypt CSTP in February 2024. This unique cybersecurity testing platform stands out due to its broad-range testing capabilities for vehicle type approval that align with UNECE's Regulations 155/156 and SAC's GB and GB/T standards, using specifically charted test cases for these regulations. The platform delivers superior control over the whole testing cycle, from test case selection and configuration to real-time logging and report creation, via an easy-to-use GUI. This interface can securely connect to global inspection centers and authorities, hence streamlining measures towards faster and more accurate decision-making.

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Who Are the Fastest-Growing Companies in the Automotive Homologation Service Industry?
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, TÜV SÜD AG, Element Materials Technology Group Ltd., TÜV Nord AG, FEV Group, Ricardo Plc, Applus+ IDIADA, National Technical Systems, China Automotive Technology & Research Center, Horiba MIRA Ltd., TÜV Rheinland AG, Millbrook Motors, UTAC Ceram, PMG Technologies, Automotive Test Systems, AVL SET GmbH, Japan Automobile Research Institute Inc., Digitrans GmbH, ATEEL

What Is the Regional Outlook for the Automotive Homologation Service Market by 2029?
North America was the largest region in the automotive homologation service market in 2024. 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.

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