FREMONT, Calif., July 7, 2021
FREMONT, Calif., July 7, 2021 /PRNewswire/ -- The global electric vehicle testing, inspection, and certification market is projected to reach $1.4 billion by 2026, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 14.26% during the forecast period 2021-2026.
The swift development of electric vehicles and their widespread adoption has increased the need for stringent regulatory standards. Therefore, the requirement for strict testing, inspection, and certification of electric vehicles is a necessity. Electric vehicle manufacturers and component suppliers must ensure that the product meets the global and regional standards and regulatory requirements, making inspection, testing, and certification a critical step. Further, the increasing need for reducing emissions contributing to global warming has caused governments to take initiatives for promoting electric vehicles (EVs), causing a surge in demand.
The detailed study is a compilation of 52 Market Data Tables and 36 Figures spread through 132 Pages and in-depth TOC on "Global Electric Vehicle Testing, Inspection, and Certification Market – Analysis and Forecast, 2021-2026"
Analyst's take on the market
According to Ajeya Saxena, Principal Analyst, BIS Research, "With the growth in regulations pertaining to harmful emissions and other environmental concerns, the demand for alternative fuel vehicles has taken a strong leap of growth over the years. With the constant growth of the electric vehicles market, the demand for the testing, inspection, and certification of these vehicles has also witnessed an upsurge. Testing, inspection, and certification of electric vehicles ensure that the vehicle is safe to use and has been examined as per the regulations and standards in place."
Key companies operating in the market
The key companies operating in the market include DEKRA SE, TUV SUD, SGS Group, Applus Services S.A., Bureau Veritas S.A., Intertek Group PLC, Eurofins Scientific, British Standards Institution, Rina S.P.A., TUV Rehinland Group, Norges Elektriske Materiellkontroll, NSF International, Lloyd's Register Group Limited, UL LLC, and Element Materials Technology.
View the Report from BIS Research: Global Electric Vehicle Testing, Inspection, and Certification Market
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Global Electric Vehicle Testing, Inspection, and Certification Market Segmentation
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