Battery Testing, Inspection, and Certification (TIC) Market Size

Battery Testing, Inspection, and Certification Market Size

The global battery testing, inspection, and certification market size was valued at USD 13.6 billion in 2023 and is projected to grow at a CAGR of 7.3% between 2024 and 2032. The growing adoption of electric vehicle (EV) is expected to drive the market growth. As consumers increasingly opt for sustainable transportation, automakers are scaling up EV production, resulting in efficient scrutiny of battery performance and safety. This growing demand for battery testing supporting major players to expand their business.

For instance, in July 2023, TUV SUD America Inc. opened new environmental laboratory in Michigan. By implementing rigorous product development and validation processes, the company ensures that EV batteries meet the highest standards of safety, reliability, and sustainability, leveraging most advanced EV battery testing facilities. Furthermore, as innovations in battery technology evolve, continuous testing and certification become crucial to maintaining competitive advantages.

The implementation of stringent regulatory requirements globally is driving the battery testing, inspection, and certification (TIC) market growth. Governments bodies are establishing safety and performance standards to ensure consumer protection and environmental sustainability. Failure to meet these regulations can result in fines, product recalls, and damage to brand reputation. This regulatory pressure drives demand for testing & certification and encourages innovation in battery technologies.
 

To help manufacturers in comply with these standards market players are actively participating in strategic initiatives. For instance, in January 2024, In January 2024, Intertek introduced a new standard brand, Intertek Inform, designed to help businesses achieve faster market access. This initiative offers a centralized platform that provides access to over 1.6 million standards, simplifying the process for companies to navigate and comply with industry regulations more efficiently.