Global Electric Vehicle Testing, Inspection, and Certification Market to grow at a CAGR of 15.21% During 2021-26

According to MarkNtel Advisors, the Global Electric Vehicle Testing, Inspection, and Certification Market is expected to grow at a CAGR of 15.21% during the forecast period, i.e., 2021-26. The factors backing the market growth include the Electric Vehicle (EV) industry being a combination of automotive & electric industries. Hence, these vehicles have to maintain the standards of both ISO & IEC. Tests, inspections, and certifications of EVs include the charging interfaces and the associated systems enabling the EVs, charging stations, and back-office systems to communicate with each other.

Furthermore, with the growing safety & security concerns of passengers & vehicles, coupled with the increasing disposable income of the people & sales of EVs, are likely to surge significantly, thereby having a direct impact on the testing, inspection, and certification market, further states the research report, "Global Electric Vehicle Testing, Inspection, and Certification Market."

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Key Questions Answered in the Study
1. What are the current and future trends in the Global Electric Vehicle Testing, Inspection, and Certification Market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across various countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Global Electric Vehicle Testing, Inspection, and Certification Market?
5. What are the customer orientation, purchase behavior, and expectations from the Electric Vehicle Testing, Inspection, and Certification providers across the globe?

Inspection Services to Display the Fastest Growth in the Coming Years

Based on Product Type, Global Electric Vehicle Testing, Inspection, and Certification Market segments into Service type & Sourcing Type. Amongst the two, the Service type further bifurcates into Testing, Inspection, and Certification. Of them all, Inspection services are projected to display the fastest market growth in the forecast period.
It owes to the increasing government focus toward imposing laws to reduce road accidents and combat the environmental impact of non-compliant vehicles.

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Besides, the key benefits of Inspection services like monitoring vehicle damage throughout the supply chain, improved quality, efficiency & safety of EVs, the reduced impact of road traffic on the environment, cost assessment for repairing damaged vehicles, etc., are projected to contribute to the market growth in the forecast period.

Safety & Security to Dominate the Market in the Forecast Period

Based on Application, the Global Electric Vehicle Testing, Inspection, and Certification Market bifurcates into Safety & Security, Connectors, Communication, and EV Charging. Of them all, the Safety & Security application dominated the market in the previous few years, and the same trend is projected to continue in the forecast period. It owes to EVs requiring meticulous safety checks to ensure a reliable installation & integration of systems and the security of passengers & vehicles.

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Since EVs require multiple tests & certifications to pass the industry-based safety & security standards, the segment is likely to witness extensive expansion in the market during the forecast period. , reveals MarkNtel Advisors in their research report, "Global Electric Vehicle Testing, Inspection, and Certification Market Analysis, 2021."

Key Market Competitors
According to MarkNtel Advisors, the leading players in the Global Electric Vehicle Testing, Inspection, and Certification Market are DEKRA SE, TUV SUD, SGS Group, Applus Services SA, Bureau Veritas SA, Intertek Group PLC, Eurofins Scientific, British Standards Institution, Rina S.P.A, TUV Rheinland Group, Norges Elektriske Materiellkontroll, NSF International, Lloyd's Register Group Limited, UL LLC, Element Materials Technology, Others.

Market Segmentation:
1. By Product Type (Service Type (Testing, Inspection, Certification), By Sourcing Type (In-House, Outsourced))
2. By Application (Safety and Security, Connectors, Communication, EV Charging)
3. By Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)
4. By Countries (US, Canada, Mexico, Brazil, Germany, France, UK, Italy, UAE, Saudi Arabia, South Africa, China, India, South Korea, Australia, Japan)
5. By Competitors (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 Rheinland Group, Norges Elektriske Materiellkontroll, NSF International, Lloyd's Register Group Limited, UL LLC, Element Materials Technology, Others)

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