PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1620404
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1620404
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.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $13.6 Billion |
Report Content
Chapter 1 Methodology & Scope
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
- 1.3 Forecast model
- 1.4 Primary research & validation
- 1.4.1 Primary sources
Chapter 2 Executive Summary
Chapter 3 Industry Insights
Chapter 4 Competitive Landscape, 2023
Chapter 5 Market Estimates & Forecast, By Service, 2021 - 2032 ($Bn)
Chapter 6 Market Estimates & Forecast, By Sourcing, 2021 - 2032 ($Bn)
Chapter 7 Market Estimates & Forecast, By Battery, 2021 - 2032 ($Bn)
Chapter 8 Market Estimates & Forecast, By Application, 2021 - 2032 ($Bn)
Chapter 9 Market Estimates & Forecast, By End Use, 2021 - 2032 ($Bn)
Chapter 10 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn)
Chapter 11 Company Profiles
