USD 88.98 billion
Electric Vehicle (EV) Testing Inspection And Certification Market Size, Share, Growth Analysis, By Product(Testing services, inspection services, certification services, others), By Sourcing(In-house, outsourced), By Application(Electrical systems & components, electric vehicles, hybrid electric vehicles, battery systems), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20Q2010 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
99
|Figures:
76
Electric Vehicle (EV) Testing Inspection And Certification Market Insights
Electric Vehicle (EV) Testing Inspection And Certification Market size was valued at USD 88.98 billion in 2019 and is poised to grow from USD 94.06 billion in 2023 to USD 150.9 billion by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).
Global Electric Vehicle Testing Inspection and Certification Market is expected to grow in the coming years due to the increase in the trend of digitalization in the automotive industry. Demand has grown as a result of the growing urgency to reduce emissions that contribute to global warming. Inspection, testing, and certification are crucial steps in ensuring that the product complies with global and regional standards and regulatory requirements for electric vehicle manufacturers and component suppliers.
Moreover, the increased adoption of electric vehicles and hybrid electric vehicles and the authorization of periodic technical inspection of vehicles by governments will boost the growth of the Automotive Market in the upcoming years.
However, the regulations and standards are likely to create barriers to the acceptance of products internationally as it may create conflicts between the local and international standards, thereby hindering the growth of the market.
US Electric Vehicle (EV) Testing Inspection And Certification Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
In-House
Fastest Growth
In-House
Growth Rate
5.7% CAGR
Global Electric Vehicle Testing Inspection and certification Market, 2021-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
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Electric Vehicle (EV) Testing Inspection And Certification Market Segmental Analysis
Electric Vehicle (EV) Testing Inspection And Certification Market is segmented on the basis of service, sourcing, application, and region. By service, the Electric Vehicle Testing Inspection And Certification Market is segmented into Testing services, inspection services, certification services, and others. By sourcing, the Electric Vehicle Testing Inspection And Certification Market is segmented into in-house and outsourced. By application, the Electric Vehicle Testing Inspection And Certification Market is segmented into electrical systems & components, electric vehicles, hybrid electric vehicles, battery systems, telematics, fuels, fluids & lubricants, interior & exterior materials and components, vehicle inspection services, homologation testing, and others. By region, the Electric Vehicle Testing Inspection And Certification Market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.
Electric Vehicle (EV) Testing Inspection And Certification Market Analysis by Product Type
By product type, testing segment will hold the largest share in the global market during the forecast period as it is one of the most important steps for regulating the quality and safety of products.
Regulatory authorities make it pivotal to get electric vehicles tested before they are officially launched on the market.
Electric Vehicle (EV) Testing Inspection And Certification Market Analysis by Sourcing
By sourcing, in-house segment will lead the global market as numerous companies are extending their services and developing in-house expertise to perform TIC activities.
Global Electric Vehicle Testing Inspection and certification Market by Sourcing, 2021-2028 ($ Bn)
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Electric Vehicle (EV) Testing Inspection And Certification Market Regional Insights
Globally, the Asia-Pacific region is anticipated to have the largest Global Electric Vehicle Testing Inspection and certification Market share in the coming years. Factors such as the growing per capita income, economic growth of the region, and rising per capita consumption with a large population base, investment opportunities, and high economic growth rate due to favorable government policies is making the region favorable.
Europe will also rise in the global competition due to increasing demand for autonomous & luxury vehicles, rising vehicle production, growing sales of electric cars, strict government regulations for vehicle safety & quality, and technological development in the automobile sector.
The North American market is anticipated to grow significantly in the upcoming year, due to increased vehicle manufacturing in the region because of the rise in demand for electric vehicles.
The U.S. is the first in the country in terms of major Automotive Market countries in this region. By implementing stringent regulations and other standards, TIC services are playing a vital role for automobile companies in this region in the coming years.
Global Electric Vehicle Testing Inspection and certification Market By Geography, 2021-2028 ($ Bn)
- Largest
- Fastest
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Electric Vehicle (EV) Testing Inspection And Certification Market Dynamics
Electric Vehicle Testing Inspection And Certification Market Drivers
Increase in Technological Advancement will Boost Demand for Electric Vehicle Testing Inspection and Certification Market
- The Internet of Things (IoT) is a network of linked computing devices that share information to carry out tasks autonomously. With the increase in the adoption of smart digital systems, the testing of software will become equally important as the testing of hardware and the inspection and testing of the software connection with remote gadgets.
- The increasing automobile production, growing inclination toward outsourcing TIC services, stringent policies for safety & environmental standards, and increased adoption of automotive electronics are some of the factors boosting the demand for electric vehicle testing inspection and certification.
- The market is also driven by rising awareness among consumers regarding product quality and safety. The failure of components results in a huge loss for the company and causes consumer dissatisfaction, in order to avoid this, demand for TIC has increased in the automotive manufacturing sector. With, such advancement in technology and ease of testing will contribute to the growth of the Market over the forecast period.
Electric Vehicle Testing Inspection And Certification Market Restraints
Strict Regulations and Policies will Hinder Market Growth
- The regional policies and standards are expected to create challenges to product acceptability worldwide as trade and businesses become more globalized. The conflict between local and international standards might affect the market expansion in the future.
- The difference in tax rates resulting from differences in regulatory policies and standard requirements by different governments across different regions will result in additional expenditures. The long lead time required for overall qualification tests can challenge the growth of the market during the forecast period.
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Electric Vehicle (EV) Testing Inspection And Certification Market Competitive Landscape
Global Electric Vehicle Testing Inspection and certification Market is highly fragmented with the presence of several small and large market players operating all over the world. Major companies in the market are implementing several business strategies such as new product launches, acquisitions & mergers, collaboration, and partnerships for the expansion of their geographical presence and their product portfolio.
Electric Vehicle Testing Inspection And Certification Market Top Player’s Company Profiles
- TÜV SÜD AG
- Bureau Veritas
- Intertek Group plc
- SGS SA
- UL LLC
- DEKRA SE
- Applus+ IDIADA
- National Technical Systems, Inc.
- DNV GL AS
- RINA S.p.A.
- ABB Ltd.
- Tesla, Inc.
- BYD Company Ltd.
- Renault Group
- Siemens AG
- FEV Group GmbH
- Horiba, Ltd.
- Vector Informatik GmbH
- Keysight Technologies, Inc.
- Chroma ATE Inc.
Electric Vehicle Testing Inspection And Certification Market Recent Developments
- In July 2021, Char IN recognized DEKRA as one of the first testing facilities for certifying the compatibility of electric vehicle charging stations. With this, DEKRA is allowed to perform the Combined Charging System Basic conformance tests and issue the CCS Basic certificate for charging stations, which will help to improve operability on the road and provide seamless charging experience for users.
Electric Vehicle (EV) Testing Inspection And Certification Key Market Trends
- Global electric vehicle testing inspection and certification market will go through many changes due to technological advancement and changing dynamic in government policies. The market is expected to experience a rise in demand due to periodical technical inspections mandated by government bodies of various countries. The market will witness a rise in demand from emerging economies due to friendly trade relations between different countries.
Electric Vehicle (EV) Testing Inspection And Certification Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Electric Vehicle Testing Inspection and certification Market analysis, increasing number of electric vehicles requires continuous developments in EV charging infrastructure and energy density of batteries. More powerful batteries are expected to place greater demand on testing facilities. Increasing focus on shorter charging time is expected to stimulate the emergence of high-power DC fast-charging stations, which will further increase the importance of testing and certification. In addition, expanding scope for research and development in testing, inspection, and certification procedures ensures higher customer safety and security, which is expected to drive electric vehicle testing, inspection, and certification market revenue growth during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 88.98 billion |
| Market size value in 2031 | USD 150.9 billion |
| Growth Rate | 5.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Electric Vehicle (EV) Testing Inspection And Certification Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Electric Vehicle (EV) Testing Inspection And Certification Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Electric Vehicle (EV) Testing Inspection And Certification Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electric Vehicle (EV) Testing Inspection And Certification Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electric Vehicle (EV) Testing Inspection And Certification Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Electric Vehicle (EV) Testing Inspection And Certification Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Electric Vehicle (EV) Testing Inspection And Certification Market Report Snapshots
- Electric Vehicle Testing Inspection And Certification Companies
- Electric Vehicle Testing Inspection And Certification Market Size
- Electric Vehicle Testing Inspection And Certification Market Analysis
- Electric Vehicle Testing Inspection And Certification Geographic Analysis
- Electric Vehicle Testing Inspection And Certification Market News
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