Dublin, Aug. 16, 2024 (GLOBE NEWSWIRE) — The “Asia Pacific Electric Vehicle Testing, Inspection & Certification Market Size, Share & Trends Analysis Report (Service Type, Procurement Type, Application, Vehicle Type, Industry Vertical, Region & Segment Forecast, 2024-2030)” report has been added to ResearchAndMarkets.com.
The Asia Pacific electric vehicle testing, inspection and certification market is expected to reach USD 1.07 billion by 2030, growing at a CAGR of 15.4% from 2024 to 2030.
The market growing demand for electric vehicles in the Asia Pacific region has increased significantly over the years as electric vehicles and their components play a vital role in ensuring the safety, quality, and performance of the vehicles.
Many countries in the Asia-Pacific region have introduced strict emission regulations, providing incentives for the production and purchase of EVs, contributing to the surge in EV demand in the market. These policies are often accompanied by testing and certification requirements to ensure compliance.
Advances in battery technology, electric drivetrains and charging solutions are driving rapid innovation in the EV sector, requiring proper Testing, Inspection and Certification (TIC) to ensure new technologies can be used safely and reliably.
The expanding range of EV technologies and associated supply chain complexities present TIC providers with an opportunity to expand their service portfolio, which may include cybersecurity certification, data protection assessments and supply chain audits in addition to traditional safety and performance testing.
Highlights of the Asia Pacific Electric Vehicle Testing, Inspection and Certification Market Report
Based on service type, the testing segment is expected to lead the market with the largest revenue share of 72.8% in 2023, growing at a rapid CAGR during the forecast period. The testing segment is expected to grow owing to the rising demand for electric vehicles in the market. Based on procurement type, the in-house segment is expected to lead the market with the largest revenue share of 58.5% in 2023, growing at a significant CAGR during the forecast period. Electric vehicle manufacturers are conducting TIC services in-house to have direct control over the evaluation and get instant feedback. Based on application, the safety and security segment led the market with the largest revenue share of 51.7% in 2023. EVs undergo comprehensive testing and safety checks before being allowed for public use for the safety and security of users. Based on vehicle type, the battery electric vehicle (BEV) segment led the market with the largest revenue share of 30.4% in 2023. The shift towards more sustainable and clean transportation options has boosted the market growth of the BEV segment. Based on industry, the automotive segment led the market with the largest revenue share of 53.2% in 2023. Due to the growing awareness about harmful emissions spread through fuel vehicles, brands are focusing on launching electric vehicles in the market.
Featured Companies
Bureau Veritas, CHINA QUALITY CERTIFICATION CENTER CO., LTD., DEKRA, Element Materials Technology, iASYS Technology Solutions, Intertek Group plc, SGS Societe Generale de Surveillance SA, TUV Rheinland, TUV SUDUL LLC.
Key attributes:
Report AttributesDetailsNumber of Pages80Forecast Period2023 – 2030Estimated Market Value in 2023 (USD)$399.2 MillionForecasted Market Value to 2030 (USD)$1,076.2 MillionCAGR15.4%Target RegionAsia-Pacific
Key topics:
Chapter 1. Methodology and Scope
Chapter 2 Overview
2.1. Market Snapshot
2.2. Segment Snapshots
2.3. Competitive Landscape Snapshot
3. Asia Pacific Electric Vehicle TIC Market Variables, Trends and Scope
3.1. Market System Outlook
3.1.1. Parent market outlook
3.1.2. Related market outlook
3.2. Industry Value Chain Analysis
3.2.1. Distribution Channel Analysis
3.2.2. Raw material trends
Technical Overview
3.3. Regulatory Framework
3.4. Market Trends
3.4.1. Market Driver Analysis
3.4.2. Market restraint analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Industry Analysis Tools
3.5.1. Porter's Five Forces Analysis
3.5.2. Macro environment analysis
4. Asia Pacific Electric Vehicle TIC Market: Service Type Estimation and Trend Analysis
4.1. Service Type Analysis and Market Share, 2023 and 2030
4.2. Asia Pacific Electric Vehicle TIC Market Estimates and Forecast by Service Type, 2018-2030 (Revenue, USD Million)
Inspection
4.3.1. Testing market revenue estimates and forecasts, 2018-2030 (Revenue, USD Million)
Testing
4.4.1. Testing Market Revenue Estimates and Forecasts, 2018-2030 (Revenue, USD Million)
4.4.1.1. Battery Testing Market Revenue Estimates and Forecasts, 2018-2030 (Revenue, USD Million)
4.4.1.2. Electric Motor Testing Market Revenue Estimates and Forecast, 2018-2030 (Revenue, USD Million)
4.4.1.3. Electromagnetic Compatibility (EMC) Testing Market Revenue Estimates and Forecast, 2018-2030 (Revenue, USD Million)
4.4.1.4. Component Testing Market Revenue Estimates and Forecast, 2018-2030 (Revenue, USD Million)
Authentication
4.5.1. Certification market revenue estimates and forecasts, 2018-2030 (Revenue, USD Million)
5. Asia Pacific Electric Vehicle TIC Market: Procurement Type Estimation and Trend Analysis
5.1. Procurement Type Analysis and Market Share, 2023 and 2030
5.2. Asia Pacific Electric Vehicle TIC Market Estimates and Forecast by Procurement Type, 2018-2030 (Revenue, USD Million)
5.3. In-house
5.3.1. In-house market revenue estimates and forecasts, 2018-2030 (Revenue, USD Million)
5.4. Outsourcing
5.4.1. Outsourcing market revenue estimates and forecasts, 2018-2030 (Revenue, USD Million)
6. Asia-Pacific Electric Vehicle TIC Market: Application Estimation and Trend Analysis
6.1. Application Analysis and Market Share, 2023 and 2030
6.2. Asia Pacific Electric Vehicle TIC Market Estimates and Forecast, by Application, 2018-2030 (Revenue, USD Million)
6.3. Safety and Security
Connectors
Communications
6.6. EV Charging
Chapter 7 Asia Pacific Electric Vehicle TIC Market: Vehicle Type Forecast and Trend Analysis
7.1. Vehicle type analysis and market share, 2023 and 2030
7.2. Asia Pacific Electric Vehicle TIC Market Estimates and Forecast, by Vehicle Type, 2018-2030 (Revenue, USD Million)
7.3. Electric Vehicles
7.4. PHEV
7.5. Fuel Cell Vehicles
8. Asia-Pacific Electric Vehicle TIC Market: Industry Forecast and Trend Analysis
8.1. Industry Analysis and Market Share, 2023 and 2030
8.2. Asia Pacific Electric Vehicle TIC Market Estimates and Forecast, by Industry Vertical, 2018-2030 (Revenue, USD Million)
8.3. Automobiles
8.4. Aerospace
8.5. Defense
Chapter 9. Asia-Pacific Electric Vehicle TIC Market: Regional Estimates and Trend Analysis
9.1. Asia Pacific Electric Vehicle TIC Market, by Country, 2023 and 2030, USD Million
China
Japan
India
South Korea
Australia
10. Asia Pacific Electric Vehicle TIC Market-Competitive Environment
10.1. Recent developments and impact analysis by major market participants
10.2. Company Classification
10.3. Company Heatmap/Position Analysis, 2023
10.4. Strategy Mapping
Extensions
10.4.2. Mergers and Acquisitions
10.4.3. Partnerships and Collaborations
10.4.4. New Product Launches
Research and Development
10.5. Company Profile
10.5.1. Participant Profile
10.5.2. Financial Performance
10.5.3. Product Benchmarking
10.5.4. Recent developments
For more information on this report, please visit: https://www.researchandmarkets.com/r/82qqv8
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Asia Pacific Electric Vehicle Testing, Inspection and Certification Market
