What is the global market size of the Electric Vehicle Testing Inspection And Certification Market?

Global Electric Vehicle Testing Inspection And Certification Market size was valued at USD 88.98 billion in 2021 and is poised to grow from USD 94.06 billion in 2022 to USD 150.9 billion by 2030, growing at a CAGR of 5.7% in the forecast period (2023-2030).

Global Electric Vehicle (EV) Testing Inspection And Certification Market

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 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.

Electric Vehicle (EV) Testing Inspection And Certification Market Report Snapshots

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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 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. '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.'

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.

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.

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Electric Vehicle (EV) Testing Inspection And Certification Market Regional Insights

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