Electric Vehicle Testing, Inspection, and Certification (TIC) Market Analysis

Electric Vehicle Testing, Inspection, and Certification Market Analysis

To get key market trends

  Download Free Sample

Based on offering, the testing segment held over 50% of the market share in 2023. The electric vehicle market is characterized by continuous innovation, with manufacturers focus on enhance battery efficiency, range, and overall performance. As new technologies and components are introduced, testing becomes essential to validate their functionality, reliability, and safety. The testing conducts comprehensive evaluations of components, ensuring that vehicle meet safety standards, have reliable battery performance, and adhere to safety norm.
 

Based on sourcing, the in-house segment recorded around 54% of the electric vehicle TIC market share in 2023. In-house sourcing approach allows companies to have greater control over the entire testing process, from design validation to performance testing, and ensures that vehicle aligns with industry standards. The in-house sourcing allows manufacturers to efficiently manage costs associated with testing and certification processes. While establishing testing facilities requires initial investment, it can lead to long-term cost savings. As the electric vehicle market experiences rapid expansion manufacturers are placing a heightened emphasis on testing and certification processes to guarantee the safety, reliability, and performance of the vehicles.
 

The Asia Pacific EV testing, inspection, and certification market accounted for 30% of the revenue share in 2023, with factors such as advanced infrastructure, supportive government policies, and a well-established automotive industry contributing to its dominance. The government bodies impose stringent safety rules requiring manufacturers to invest considerably in EV testing and certification to comply. Along with that, governments are committed to meeting aggressive decarbonization targets, resulting in market development for clean technologies including electric cars and increased demand for Asia Pacific TIC services.