Global Electric Vehicle Testing, Inspection, and Certification Market to Reach $1,403.2 Million by 2026
Testing, inspection, and certification of electric vehicles are prominent service factors for the development of electric vehicle and is one of the critical steps for the progress of car manufacturers and suppliers. The rising demand for protection and efficiency of electric vehicles is a major factor driving business expansion of electric vehicle testing, inspection, and certification. In addition, the electric car industry must meet strict requirements and adhere to national and international safety regulations and mandates. During the forecast era, the rising development of electric and hybrid electric vehicles presents lucrative opportunities for players in the electric vehicle testing, inspection, and certification industry.
Electric cars were created to replace conventional modes of transportation, which pollute the atmosphere. Due to various technological advances, electric cars have grown in popularity. Electric vehicles (EVs) outperform conventional vehicles in terms of fuel economy, greenhouse gas emissions, and maintenance, as well as the ease of charging at home, a smoother ride, and reduced engine noise. Battery, hybrid, and plug-in hybrid electric cars are the three varieties of electric vehicles. Furthermore, electric cars do not need engine oil adjustments, but they are marginally more costly than their gasoline counterparts.
Growing electric vehicle demand in developing markets, stringent regulatory requirements imposed by governments on the electric vehicle industry, and consistently increasing instances of vehicle recall due to component failure are all driving this market’s expansion. Furthermore, the increasing introduction of electric cars, rising customer perception of product quality and safety, and the incorporation of technology advances with the rising adoption of connected devices in the electric vehicle industry are all providing opportunities for market players to expand. However, the shortage of professional resources and changing regulations/standards in various regions can hinder the development of this industry.
According to the latest report by CRI Report, titled ‘Global Electric Vehicle Testing, Inspection, and Certification Market – Analysis and Forecast (2020-2026)’, the global electric vehicle testing, inspection, and certification market is expected to reach $1,403.2 million by 2026.
Companies Mentioned in the Report:
• DEKRA SE
• TUV SUD
• SGS Group
• Applus Services S.A.
• Bureau Veritas S.A.
• Intertek Group PLC
• Eurofins Scientific
• British Standards Institution
• Rina S.P.A
• TÜV Rehinland Group
• Norges Elektriske Materiellkontroll
• NSF International
• Lloyd’s Register Group Limited
• UL LLC
• Element Materials Technology
Key Questions Answered in this Report:
• What are the key trends, market drivers, and opportunities in the market pertaining to electric vehicle testing, inspection, and certification?
• What are the major restraints inhibiting the global electric vehicle testing, inspection, and certification market growth?
• What kinds of new strategies are being adopted by the existing market players to expand their market position in demand-generating developing and developed countries?
• Which are the promising companies that have obtained financial support to develop their products and markets?
• How much revenue each of the segments is expected to record during the forecast period along with the growth percentage? Following are the segments:
o Product offerings, including (Service Type and Sourcing)
o Application
o Region, including North America, South America, the U.K., Europe, Asia-Pacific and Japan, China, and the Middle East and Africa
• Which type of players and stakeholders are operating in the market ecosystem of electric vehicle testing, inspection, and certification, and what is their significance in the global market?