Electric vehicle Testing, Inspection, and Certification (TIC) is a set of services that help to improve standards of manufacturing and quality of EVs in a specific region as per regional statutory regulatory bodies. TIC ensures safety of users, equipment, infrastructure, and environment as well. As a result, governments of various countries are implementing stringent regulatory norms related to electric vehicle testing. This is expected to continue to boost electric vehicle testing, inspection, and certification market revenue growth during the forecast period.
The report on Electric Vehicle Testing, Inspection, and Certification market, samples and measures quality data on the overall business environment for the forecast period 2020-2028.To help business strategist strengthens their strategic planning and executes a plan to maintain and gain a competitive edge the research weighs up on buyer preferences, gross margin, profit and sale across different regions.
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The extensive assessment of real-time data on the business environment offers a more specialized view of threats and challenges companies are likely to face in the years to come. In addition, the unique expertise of the researchers behind the study in strategic growth consulting enables product owners identifies important definition, product classification, and application.
Competitive Outlook:
These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Electric Vehicle Testing, Inspection, and Certification market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Some of the key participants in this industry 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.
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Key Highlights
- In August 2021, South Korean multinational automotive manufacturer, Hyundai Motor has partnered with global safety science leader, UL, for safe deployment and use of a Second-Life Battery Energy Storage System (SLBESS). This collaboration is expected to increase safe deployment of key renewable, zero-emission energy resources, and improve safety testing and evaluation process.
- Safety and security segment accounted for a significantly large revenue share in 2020 owing to rising concerns regarding a pollution-free environment and safety and enhanced consumer welfare. Security checks help in reducing CO2emissions and driving further R&D and technological advancements, which also lead to consumer satisfaction. Revenue from the safety and security segment is expected to increase significantly during the forecast period.
- Testing segment registered a significantly large revenue share in 2020 due to increasing number of EVs in countries across the globe. Testing is the process of determining one or more characteristics of an object to assess its conformity, following some fixed procedures. Rising concerns over quality and safety analysis of EVs is expected to support steady revenue growth of this segment during the forecast period.
Regional Overview:
The global Electric Vehicle Testing, Inspection, and Certification market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Electric Vehicle Testing, Inspection, and Certification market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
Emergen Research has segmented the global electric vehicle testing, inspection, and certification market on the basis of application, service types, sourcing, and region:
- Application Outlook (Revenue, USD Million, 2018–2028)
- Safety and Security
- Connectors
- Communication
- Electric Vehicle (EV) Charging
- Service Types Outlook (Revenue, USD Million, 2018–2028)
- Testing
- Testing Parameters
- Mechanical
- Temperature
- Electrical
- Conditions in Testing
- Testing Parameters
- Inspection
- Certification
- Testing
- Sourcing Outlook (Revenue, USD Million, 2018–2028)
- In-House
- Outsourcing
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Objectives of the Report:
- Study of the global Electric Vehicle Testing, Inspection, and Certification market size by key regions, types, and applications with reference to historical data and forecast (2020-2028)
- Industrial structure analysis of the Electric Vehicle Testing, Inspection, and Certification market by identification of various sub-segments
- Extensive analysis of key market players along with their SWOT analysis
- Competitive landscape benchmarking
- Analysis of Electric Vehicle Testing, Inspection, and Certification market based on growth trends, futuristic outlook, and contribution to the total growth of the market
- Analysis of drivers, constraints, opportunities, challenges, and risks in the global Electric Vehicle Testing, Inspection, and Certification market
- Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
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The post Electric Vehicle Testing, Inspection, and Certification Market is projected to reach USD 1,938.4 Million by 2028, Finds Emergen Research appeared first on Market O Graphics.
