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Battery Testing, Inspection, and Certification (TIC) Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 – 2032

Publisher Global Market Insights
Published Oct 01, 2024
Length 240 Pages
SKU # GMI20306351

Description

Battery Testing, Inspection, and Certification (TIC) Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 – 2032


The Global Battery Testing, Inspection, And Certification (TIC) Market was valued at USD 13.6 billion in 2023 and is projected to grow at a CAGR of 7.3% from 2024 to 2032. This growth is primarily driven by the increasing adoption of electric vehicles (EVs). As consumers shift towards eco-friendly transportation options, automakers ramp up EV production, necessitating rigorous battery performance and safety evaluations. This surge in demand for reliable battery testing is encouraging industry players to expand their operations. The market expansion is further bolstered by stringent regulatory requirements across the globe.

Government authorities are implementing safety and performance standards to ensure consumer protection and promote environmental sustainability. Non-compliance with these regulations can lead to fines, recalls, and reputational damage, which, in turn, drives the demand for thorough testing and certification processes. These regulatory pressures also foster innovation in battery technologies, fueling the overall market growth. In terms of services, the market is categorized into testing, inspection, and certification.

In 2023, testing accounted for over 65% of the total market share and is expected to surpass USD 15 billion by 2032. The increasing adoption of energy storage systems (ESS) is a key factor behind this growth. As the demand for renewable energy sources rises, effective energy storage solutions become critical. Advanced battery technologies used in ESS must undergo extensive testing to ensure they can manage energy loads and deliver reliable performance. This growing focus on safety and efficiency drives the demand for comprehensive testing services.

When it comes to sourcing, the market is divided into in-house and outsourced segments. In 2023, the in-house segment captured around 68% of the market share. Companies invest in internal testing facilities to meet the rising demand for high-performance, safe battery systems. By developing in-house capabilities, manufacturers can accelerate product development, enhance quality control, and shorten time-to-market.

This approach allows companies to quickly optimize battery designs, which is essential in a fast-moving industry. Geographically, Europe held over 35% of the battery TIC market share in 2023 and is expected to exceed USD 7.5 billion by 2032. The region's strong regulatory framework, emphasizing safety, sustainability, and performance standards, is a major growth driver. Strict regulations in Europe, particularly for electric vehicles and renewable energy storage, are compelling manufacturers to undergo comprehensive testing and certification processes to ensure compliance with regional directives, further boosting market demand

Table of Contents

240 Pages
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Industry synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Battery manufacturers
3.1.2 TIC service providers
3.1.3 Suppliers
3.1.4 End-user
3.2 Supplier landscape
3.3 Profit margin analysis
3.4 Case study
3.5 Technology & innovation landscape
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Growing demand for electric vehicles and renewable energy
3.8.1.2 Increasing focus on energy efficiency
3.8.1.3 Rapid advancements in battery technology
3.8.1.4 Stringent safety and regulatory requirements
3.8.2 Industry pitfalls & challenges
3.8.2.1 High costs of testing and certification
3.8.2.2 Complexity of battery testing
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Service, 2021 - 2032 ($Bn)
5.1 Key trends
5.2 Testing
5.3 Inspection
5.4 Certification
Chapter 6 Market Estimates & Forecast, By Sourcing, 2021 - 2032 ($Bn)
6.1 Key trends
6.2 In-house
6.3 Outsourced
Chapter 7 Market Estimates & Forecast, By Battery, 2021 - 2032 ($Bn)
7.1 Key trends
7.2 Lithium-ion batteries
7.3 Lead-acid batteries
7.4 Nickel-cadmium batteries
7.5 Others
Chapter 8 Market Estimates & Forecast, By Application, 2021 - 2032 ($Bn)
8.1 Key trends
8.2 Safety testing
8.3 EMC testing
8.4 Performance testing
8.5 Environmental testing
8.6 Others
Chapter 9 Market Estimates & Forecast, By End Use, 2021 - 2032 ($Bn)
9.1 Key trends
9.2 Automotive
9.3 Consumer electronics
9.4 Energy and utilities
9.5 Industrial
9.6 Others
Chapter 10 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Spain
10.3.5 Italy
10.3.6 Russia
10.3.7 Nordics
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 ANZ
10.4.6 Southeast Asia
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Argentina
10.6 MEA
10.6.1 UAE
10.6.2 South Africa
10.6.3 Saudi Arabia
Chapter 11 Company Profiles
11.1 Apave International
11.2 Applus+
11.3 BSI Group
11.4 Bureau Veritas
11.5 Carelabs
11.6 CSA Group
11.7 DEKRA
11.8 Element Materials Technology
11.9 Eurofins Scientific
11.10 Intertek Group plc
11.11 KIWA Group
11.12 MET Laboratories, Inc.
11.13 Nemko AS
11.14 QIMA
11.15 SGS SA
11.16 TUV Nord
11.17 TUV Rheinland
11.18 TUV SUD
11.19 UL LLC
11.20 VDE Renewables GMBH

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