PUBLISHER: Grand View Research | PRODUCT CODE: 1511786
PUBLISHER: Grand View Research | PRODUCT CODE: 1511786
The Asia Pacific electric vehicle testing, inspection, and certification market size is anticipated to reach USD 1076.2 million by 2030 and is projected to grow at a CAGR of 15.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The demand for market growth of electric vehicles in Asia Pacific has seen substantial growth over the years, as it plays a critical role in ensuring the safety, quality, and performance of electric vehicles and their components.
Strict emissions regulations have been introduced by many countries in the Asia Pacific region and are providing incentives for EV manufacturing and purchasing that contributes to the surge of EV demand in the market. These policies often come with requirements for testing and certification to ensure compliance.
The rapid pace of innovation in the EV sector with advancements in battery technology, electric drivetrains, and charging solutions requires appropriate testing, inspection, and certification (TIC) to ensure the new technology is safe and reliable to use.
The broadening scope of EV technologies and the complex supply chains involved offer TIC providers the opportunity to expand their service portfolios. This expansion could include cybersecurity certification, data protection assessments, and supply chain audits in addition to traditional safety and performance testing.