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Increasing number of EVs and increasingly stringent regulatory standards in the automotive industry are some of the key factors driving market revenue growth
VANCOUVER, BC, CANADA, November 21, 2022 /EINPresswire.com/ — Emergen Research’s latest market research report focuses on the global Electric Vehicle Testing, Inspection, and Certification market, and the report provides in-depth analysis of each of its major segments. Reports about the global Electric Vehicle Testing, Inspection, and Certification market provide a comprehensive overview of the market, including market size, revenue growth rate, industry statistics, revenue shares among regional markets, gross profits, production costs, and product portfolios. The report also highlights the most important factors influencing industry revenue growth, including drivers, opportunities, trends, restraints, challenges, demand and supply ratios, production and consumption patterns, strict regulatory frameworks, and a multitude of micro-economic and macro-economic factors. Electric Vehicle Testing, Inspection, and Certification industry projections and qualitative and quantitative assessments have been provided by the report’s authors. The SWOT analysis and Porter’s Five Forces Analysis are some of the most important components of this report that provide insight into the highly competitive environment of the industry. A detailed analysis of the global Electric Vehicle Testing, Inspection, and Certification market is presented in the report, including North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Aside from revenue growth drivers & restraints, production & consumption patterns, changing consumer preferences, and stringent regulatory standards, this report also examines other key aspects of regional markets.
The global Electric Vehicle (EV) Testing, Inspection, and Certification (TIC) market size is expected to reach USD 1,938.4 Million in 2028 and register a revenue CAGR of 14.2% over the forecast period, according to the latest report by Emergen Research. Increasing demand for EVs in countries across the globe and need for improvement of manufacturing standards are other factors driving need for EV testing, inspection, and certification. Electric vehicle Testing, Inspection, and Certification (TIC) is a set of services that help to improve standards of manufacturing and quality of EVs in a specific region as per regional statutory regulatory bodies. TIC ensures safety of users, equipment, infrastructure, and environment as well. As a result, governments of various countries are implementing stringent regulatory norms related to electric vehicle testing. This is expected to continue to boost electric vehicle testing, inspection, and certification market revenue growth during the forecast period. Adoption of TIC services is increasing in the automobile manufacturing industry owing to marketing benefits these services open up, which is expected to drive market revenue growth during the forecast period. TIC evaluates conformance, interoperability, and electromagnetic capability of electric vehicles, which ensures a longer and healthier lifespan of product. This allows manufacturers of electric vehicles to market their products across multiple markets worldwide. The electric vehicles industry need to comply with statutory norms and policies set by governments, which is driving demand for testing, inspection, and certification services globally. Testing, inspection, and certification of electric vehicles play an essential role to enable meeting regulatory standards by providing quality checks that are in compliance with statutory norms.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
Key Companies Profiled in the Report are
DEKRA SE, TÜV SÜD, SGS Group, Applus Services S.A., Bureau Veritas S.A., Intertek Group PLC, Eurofins Scientific, British Standards Institution, TUV Rehinland Group, Norges Elektriske Materiellkontroll
The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.
On the basis of type, the market is segmented into
Application Outlook (Revenue, USD Million, 2018–2028)
Safety and Security
Connectors
Communication
Electric Vehicle (EV) Charging
Service Types Outlook (Revenue, USD Million, 2018–2028)
Testing
Testing Parameters
Mechanical
Temperature
Electrical
Conditions in Testing
Inspection
Certification
Sourcing Outlook (Revenue, USD Million, 2018–2028)
In-House
Outsourcing
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