The global Electric Vehicle (EV) Testing, Inspection, and Certification (TIC) market size is expected to reach USD 1,938.4 Million in 2028 and register a revenue CAGR of 14.2% over the forecast period, according to the latest report by Emergen Research. Due to the rising demand for EVs around the world, the market for EV testing, inspection, and certification has seen impressive growth. To guarantee the security, dependability, and compliance of electric vehicles with various laws and standards, this industry offers the appropriate testing, inspection, and certification services.
One of the key factors driving the industry is the rising acceptance of electric cars (EVs), which are seen as a viable and environmentally beneficial alternative to traditional fossil fuel-based vehicles. Governments from all around the world are encouraging the use of EVs by providing incentives and subsidies to both consumers and producers. The growing number of safety issues with EV batteries, charging systems, and general performance is another factor driving the demand for EV testing and certification services.
However, factors including the high cost of EV testing and certification, the scarcity of testing facilities, and the absence of standardisation in the testing and certification procedure impede the market's growth. Another significant issue facing the sector is the lack of qualified individuals to conduct testing and certification.
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Several growth factors are anticipated to propel the EV Testing, Inspection, and Certification Market in the upcoming years, despite the difficulties. The rising demand for EVs in developing nations like China, India, and Brazil is one of the major drivers. There are more prospects for testing and certification service providers in these regions due to the growing number of EV manufacturers and suppliers.
Additionally, the development of novel and cutting-edge technologies like wireless charging and vehicle-to-grid (V2G) systems is anticipated to fuel market expansion. New testing and certification processes are needed for these technologies, which gives service providers the chance to diversify their service portfolios.
Electric Vehicle Testing, Inspection, and Certification Market Segmentation:
The global Electric Vehicle (EV) Testing, Inspection, and Certification Market has been segmented by Emergen Research based on application, service types, sourcing, and region. The application segment includes Safety and Security, Connectors, Communication, and EV Charging. The Safety and Security segment involves testing, inspection, and certification of batteries, charging systems, and other components to ensure safe and secure operations. The Connectors segment includes testing and certification of electrical connectors used in EVs. The Communication segment involves testing and certification of communication systems used in EVs, such as telematics and infotainment systems. The EV Charging segment includes testing, inspection, and certification of charging stations and related infrastructure.
The service types segment includes Testing, Inspection, and Certification. The Testing segment involves testing of various parameters, such as mechanical, temperature, and electrical conditions, to ensure the safe and reliable operation of EVs. The Inspection segment involves visual inspections of EV components, such as batteries and charging systems, to identify any potential issues. The Certification segment involves obtaining necessary certifications and compliance with various regulations and standards.
The sourcing segment includes In-House and Outsourcing. The In-House sourcing involves conducting testing, inspection, and certification in-house by EV manufacturers or related companies. The Outsourcing sourcing involves outsourcing the testing, inspection, and certification services to third-party service providers who specialize in providing these services.
The report also provides a regional analysis of the market, with a focus on North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Some Key Highlights From the Report
- Safety and security segment accounted for a significantly large revenue share in 2020 owing to increasing focus on the safety and security of EVs due to the potential risks associated with the use of high-voltage batteries and charging systems. The Safety and Security segment involves testing, inspection, and certification of various components, such as batteries, charging systems, and electrical connectors, to ensure safe and secure operation. EV batteries are high-voltage and can pose a significant risk if not handled properly, which is why the safety of batteries is a top priority for EV manufacturers and regulators.
- Testing segment registered a significantly large revenue share in 2020 due to the increasing demand for reliable and safe EVs, which has led to the need for testing various parameters to ensure the safe and efficient operation of EVs. The Testing segment involves testing various parameters, such as mechanical, temperature, and electrical conditions, to ensure the reliable operation of EVs. This segment also includes testing the performance of batteries, charging systems, and other components to ensure their compliance with safety and performance standards.
- Mechanical testing parameters segment accounted for largest revenue share in 2020 owing to the increasing demand for reliable and safe EVs, which has led to the need for testing various mechanical parameters to ensure the safe and efficient operation of EVs. The Mechanical testing parameters segment involves testing the mechanical properties and durability of various components, such as EV chassis, suspension systems, and braking systems, to ensure their reliability and safety.
- The market in Europe accounted for highest revenue growth in 2020 owing to the increasing adoption of EVs in the region, coupled with the stringent regulations and standards related to EV safety and performance. The European market is home to some of the world's leading EV manufacturers, and the region has witnessed significant growth in EV adoption in recent years. The European Union has also introduced various regulations and standards related to EV safety and performance, which has led to an increased demand for testing, inspection, and certification services.
- Major players in the market report include DEKRA SE, TÜV SÜD, SGS Group, Applus Services S.A., Bureau Veritas S.A., Intertek Group PLC, Eurofins Scientific, British Standards Institution, TUV Rehinland Group, and Norges Elektriske Materiellkontroll.
- UL and Hyundai Motor, a South Korean multinational automaker, have cooperated for the safe deployment and use of a Second-Life Battery Energy Storage System (SLBESS) as of August 2021. Key renewable, emission-free energy resources should be deployed more safely as a result of this collaboration, which is also intended to enhance the procedure for safety testing and evaluation.
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