Testing, inspection, and certification of electric vehicles are prominent service factors for the development of electric vehicle and is one of the critical steps for the progress of car manufacturers and suppliers. The rising demand for protection and efficiency of electric vehicles is a major factor driving business expansion of electric vehicle testing, inspection, and certification. In addition, the electric car industry must meet strict requirements and adhere to national and international safety regulations and mandates. During the forecast era, the rising development of electric and hybrid electric vehicles presents lucrative opportunities for players in the electric vehicle testing, inspection, and certification industry.
Growing electric vehicle demand in developing markets, stringent regulatory requirements imposed by governments on the electric vehicle industry, and consistently increasing instances of vehicle recall due to component failure are all driving this market's expansion. Furthermore, the increasing introduction of electric cars, rising customer perception of product quality and safety, and the incorporation of technology advances with the rising adoption of connected devices in the electric vehicle industry are all providing opportunities for market players to expand. However, the shortage of professional resources and changing regulations/standards in various regions can hinder the development of this industry.
The market is likely to be impacted by this situation, as consumer development is directly related to electric vehicle production. COVID-19, on the other hand, is hastening the digitalization of the electric vehicle testing, inspection, and certification industry. For investigations, harm evaluations, and certifications, electric vehicle testing, inspection, and certification organizations are now focusing on advanced technologies. Bureau Veritas, for example, has developed advanced digital platforms for a range of industries to facilitate remote operations.
Safety and Security Application to Dominate the Market:
Electric vehicles require rigorous safety checks for the safe installation and integration with systems. Wide range of testing and certification services are required right from a charging infrastructure to the battery of the vehicle and to make sure the vehicle is in line with the industry standards. Safety and security is the largest application of the electric vehicle testing, inspection, and certification market and is anticipated to maintain its dominance during the forecast period.
Testing Services to Dominate the Market:
With the advancement in vehicle technology, consumers are becoming environmentally aware. Along with this, the mandatory emission targets have led the OEMs to introduce electric vehicles in the market. In order to keep up with the industrial standards, testing, inspection, and certification of the electric vehicle becomes necessary. The testing segment of the electric vehicle testing, inspection, and certification of the market is expected to maintain its dominance throughout the forecast period.
Key Manufacturers and Suppliers in North America:
Some of the key manufacturers and suppliers in North America are Dekra Se, Applus Services S.A, SGS, Intertek, Eurofins Scientific, British Standard Institution, and Bureau Veritas.
Business Challenges:
Considering the effects of COVID-19 in 2020 on the North America market, several companies such as Volkswagen, Mercedes, and Nissan in the U.S. have borne the brunt of the virus outbreak. These companies had temporarily stopped their manufacturing lines to save their funds and sustain themselves in the market. Therefore, owing to the stall in manufacturing, the demand for testing inspection and certification market for electric vehicles also went down, impacting the market’s growth.
Key Questions Answered by This Report:
For a new company looking to enter the market, which areas could it focus upon to stay ahead of the competition?
How do the existing market players function to improve their market positioning?
Which are the promising companies that have obtained financial support to develop their products and markets?
How does the supply chain function in the electric vehicle testing, inspection, and certification market?
Which service segment is expected to witness the maximum demand growth in the electric vehicle testing, inspection, and certification market during 2021-2026?
Which are the players that are catering to the demand for different types of service types?
How should the strategies adopted by market players vary for different service segments based on the size of companies involved in each segment?
What are the key offerings of the prominent companies in the market for electric vehicle testing, inspection, and certification?
What are the demand patterns of electric vehicle testing, inspection, and certification across the application areas in different regions and countries during the period 2021-2026?
Download the free sample of electric vehicle testing, inspection, and certification report:
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