Dublin, Aug. 16, 2024 (GLOBE NEWSWIRE) -- The "Asia Pacific Electric Vehicle Testing, Inspection, and Certification Market Size, Share & Trends Analysis Report by Service Type, Sourcing Type, Application, Vehicle Type, Industry, Region, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific electric vehicle testing, inspection, and certification market size is anticipated to reach USD 1.07 billion by 2030 and is projected to grow at a CAGR of 15.4% from 2024 to 2030
The demand for market growth of electric vehicles in Asia Pacific has seen substantial growth over the years, as it plays a critical role in ensuring the safety, quality, and performance of electric vehicles and their components. 
Strict emissions regulations have been introduced by many countries in the Asia Pacific region and are providing incentives for EV manufacturing and purchasing that contributes to the surge of EV demand in the market. These policies often come with requirements for testing and certification to ensure compliance.
The rapid pace of innovation in the EV sector with advancements in battery technology, electric drivetrains, and charging solutions requires appropriate testing, inspection, and certification (TIC) to ensure the new technology is safe and reliable to use.
The broadening scope of EV technologies and the complex supply chains involved offer TIC providers the opportunity to expand their service portfolios. This expansion could include cybersecurity certification, data protection assessments, and supply chain audits in addition to traditional safety and performance testing.
Asia Pacific Electric Vehicle Testing, Inspection, And Certification Market Report Highlights
- Based on service type, the testing segment led the market with the largest revenue share of 72.8% in 2023 and is expected to grow at a rapid CAGR over the forecast period. The testing segment is anticipated to grow due to the rising demand for electric vehicles in the market
- Based on sourcing type, the in-house segment led the market with the largest revenue share of 58.5% in 2023 and is expected to grow at a significant CAGR over the forecast period. Electric vehicle manufacturers conduct the TIC services in-house to have direct control over the assessment and get immediate feedback
- Based on application, the safety and security segment led the market in 2023 with the largest revenue share of 51.7%. EVs undergo comprehensive testing and safety checks before they are 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 cleaner transportation options has fueled market growth of BEV segment
- Based on industry, the automotive segment led the market with the largest revenue share of 53.2% in 2023. Brands are focused on launching electric vehicles in the market due to the rising awareness of harmful emissions spreading through fueled vehicles
Companies Featured
- Bureau Veritas
- CHINA QUALITY CERTIFICATION CENTRE CO., LTD.
- DEKRA
- Element Materials Technology
- iASYS Technology Solutions
- Intertek Group plc
- SGS Societe Generale de Surveillance SA.
- TUV Rheinland
- TUV SUD
- UL LLC.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $399.2 Million |
| Forecasted Market Value (USD) by 2030 | $1076.2 Million |
| Compound Annual Growth Rate | 15.4% |
| Regions Covered | Asia Pacific |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Asia Pacific Electric Vehicle TIC Market Variables, Trends & Scope
3.1. Market Lineage 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
3.2.3. Technological Overview
3.3. Regulatory Framework
3.4. Market Dynamics
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-environmental Analysis
Chapter 4. Asia Pacific Electric Vehicle TIC Market: Service Type Estimates & Trend Analysis
4.1. Service Type Analysis & Market Share, 2023 & 2030
4.2. Asia Pacific Electric Vehicle TIC Market Estimates & Forecast, By Service Type, 2018 to 2030 (Revenue, USD Million)
4.3. Inspection
4.3.1. Inspection Market Revenue Estimates and Forecasts, 2018-2030 (Revenue, USD Million)
4.4. 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 e-motor testing market revenue estimates and forecasts, 2018-2030 (Revenue, USD Million)
4.4.1.3. Electromagnetic compatibility (EMC) testing market revenue estimates and forecasts, 2018-2030 (Revenue, USD Million)
4.4.1.4. Component testing market revenue estimates and forecasts, 2018-2030 (Revenue, USD Million)
4.5. Certification
4.5.1. Certification Market Revenue Estimates and Forecasts, 2018-2030 (Revenue, USD Million)
Chapter 5. Asia Pacific Electric Vehicle TIC Market: Sourcing Type Estimates & Trend Analysis
5.1. Sourcing Type Analysis & Market Share, 2023 & 2030
5.2. Asia Pacific Electric Vehicle TIC Market Estimates & Forecast, By Sourcing Type, 2018 to 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. Outsourced
5.4.1. Outsourced Market Revenue Estimates and Forecasts, 2018-2030 (Revenue, USD Million)
Chapter 6. Asia Pacific Electric Vehicle TIC Market: Application Estimates & Trend Analysis
6.1. Application Analysis & Market Share, 2023 & 2030
6.2. Asia Pacific Electric Vehicle TIC Market Estimates & Forecast, By Application, 2018 to 2030 (Revenue, USD Million)
6.3. Safety and Security
6.4. Connectors
6.5. Communication
6.6. EV Charging
Chapter 7. Asia Pacific Electric Vehicle TIC Market: Vehicle Type Estimates & Trend Analysis
7.1. Vehicle Type Analysis & Market Share, 2023 & 2030
7.2. Asia Pacific Electric Vehicle TIC Market Estimates & Forecast, By Vehicle Type, 2018 to 2030 (Revenue, USD Million)
7.3. BEV
7.4. PHEV
7.5. FCEV
Chapter 8. Asia Pacific Electric Vehicle TIC Market: Industry Estimates & Trend Analysis
8.1. Industry Analysis & Market Share, 2023 & 2030
8.2. Asia Pacific Electric Vehicle TIC Market Estimates & Forecast, By Industry, 2018 to 2030 (Revenue, USD Million)
8.3. Automotive
8.4. Aerospace
8.5. Defence
Chapter 9. Asia Pacific Electric Vehicle TIC Market: Regional Estimates & Trend Analysis
9.1. Asia Pacific Electric Vehicle TIC Market, By Country, 2023 & 2030, USD Million
9.2. China
9.3. Japan
9.4. India
9.5. South Korea
9.6. Australia
Chapter 10. Asia Pacific Electric Vehicle TIC Market - Competitive Landscape
10.1. Recent Developments & Impact Analysis, By Key Market Participants
10.2. Company Categorization
10.3. Company Heat Map/Position Analysis, 2023
10.4. Strategy Mapping
10.4.1. Expansion
10.4.2. Mergers & Acquisition
10.4.3. Partnerships & Collaborations
10.4.4. New Product Launches
10.4.5. Research And Development
10.5. Company Profiles
10.5.1. Participant's overview
10.5.2. Financial performance
10.5.3. Product benchmarking
10.5.4. Recent developments
For more information about this report visit https://www.researchandmarkets.com/r/82qqv8
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