EV Battery Testing Market worth $9.51 billion by 2030 | MarketsandMarkets
DELRAY BEACH, Fla., Dec. 18, 2024 /PRNewswire/ -- The EV battery testing market is estimated to grow from USD 3.35 billion in 2024 to USD 9.51 billion by 2030 at a CAGR of 19.0% during the forecast period, according to a new report by MarketsandMarkets. The EV battery testing market is driven by growing demand for electric vehicles. Growing concerns over battery failures, fires, and environmental impacts have led to stricter safety standards, driving the demand for comprehensive testing to ensure batteries can endure various conditions and meet safety requirements. This safety focus has significantly resulted in growth in the market for advanced testing services. Also, as manufacturers work to improve energy density and charging capabilities, the need for advanced testing solutions becomes increasingly critical, driving the EV battery testing market.
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BEVs and LDVs hold the largest market in the EV Battery testing market.
Battery Electric Vehicles (BEVs) and Light-Duty Vehicles (LDVs) lead the EV battery testing market due to their high adoption rates and growing consumer demand. BEVs, favoured for their zero emissions and cost advantages, hold a global EV market share of 70%. LDVs, which include passenger cars (PCs) and smaller commercial vehicles, dominate the EV landscape. Battery advancements like lithium iron phosphate (LFP) and Cell-to-Pack (CTP) technology are key drivers, improving energy density and reducing costs. These advancements necessitate rigorous testing to ensure safety, durability, and performance. Automakers are heavily investing in BEVs and LDVs, making battery testing critical for meeting regulatory and market expectations.
The Asia-Pacific region, especially China, drives global growth due to government incentives, robust local manufacturing, and advanced battery systems. Europe (EU) follows, with strong regulations targeting zero emissions by 2035, boosting battery testing needs. In North America, led by the US, increased EV adoption and significant automaker investments contribute to battery testing demand, ensuring safety and efficiency in diverse climate conditions. This combined focus on BEVs and LDVs drives the EV battery testing market, supported by global shifts toward cleaner mobility and the evolution of battery technologies.
CTP (Cell-to-pack) is the fastest-growing segment in the EV Battery testing market.
Cell to Pack (CTP) battery technology is emerging as the fastest-growing segment in the electric vehicle (EV) battery testing market, driven by its ability to improve vehicle range and efficiency. Unlike traditional Cell to Module (CTM) designs, CTP directly integrates cells into one large pack, eliminating the need for additional components like module enclosures. This reduces vehicle weight, simplifies manufacturing, and increases the number of cells, enhancing energy storage and driving range. However, challenges such as loss of structural support and sealing effectiveness need to be addressed. Advanced materials like polyurethane potting and high-performance sealants improve durability and prevent leaks.
The Asia-Pacific region, particularly China and India, is leading the adoption of CTP technology. This growth is fueled by industrial expansion, increased demand for EVs, and government incentives promoting green energy. Technological advancements in battery manufacturing are driving the adoption of more efficient CTP solutions that optimize space and improve energy density. Additionally, supportive regulatory frameworks and substantial investments in EV infrastructure, such as charging networks and battery manufacturing, further accelerate CTP adoption in this region.
Asia Pacific is projected to be the most prominent EV Battery Testing market.
The Asia Pacific region, excluding China, is becoming the fastest-growing market for EV battery testing, fueled by supportive government policies, infrastructure investments, and increasing sustainability awareness. Countries like India, Japan, South Korea, Indonesia, and Thailand are driving EV adoption through subsidies, local manufacturing incentives, and public-private collaborations. India's Tata Motors and Mahindra & Mahindra are expanding production with localized supply chains and affordable EVs. Japan's Toyota and Honda are advancing hybrid and all-electric platforms, backed by USD 2.4 billion in government subsidies for battery production. South Korea's Hyundai and Kia are heavily investing in EV platforms like E-GMP, with Hyundai planning to spend USD 16 billion on electrification by 2030. Meanwhile, Indonesia and Thailand are positioning themselves as EV hubs, attracting global players like BYD and Hyundai, with BYD committing USD 486 million to Thailand's EV production. The region's mix of economic growth and technological advancements makes it the largest market for EV battery testing, supported by domestic and global suppliers like Nidec, DENSO, and Hyundai Mobis.
Key Market Players EV Battery Testing Industry:
Prominent players in the EV Battery Testing Market include as TÜV SÜD (Germany), Intertek Group plc (UK), UL LLC (US), Bureau Veritas (Belgium), SGS SA (Switzerland), TÜV Rheinland (Germany), Weiss Technik (Germany), UTAC (France), Eurofins Scientific (US), Dekra (Germany)
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This report provides insights on:
- Analysis of key drivers (Global EV adoption growth and push for Decarbonization, Rise in Demand for GWh of Battery Capacity for EVs, Focus on Safety Standards, Advancements in Battery Technologies), restraints (High Testing Costs, Complexity of Testing Protocols & long testing duration), opportunities (Digital and AI-Driven Solutions, Increase in investments in battery technologies), and challenges (Extended Testing Duration and Capacity Constraints) are influencing the growth of the EV battery testing market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the EV battery testing market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the EV battery testing market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the EV battery testing market.
- Deep dive segments on the EV battery testing market and their trends.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like TÜV SÜD (UK), SGS S.A. (Switzerland), Intertek Group plc (UK), UL LLC (US), and Bureau Veritas (France) among others in the EV battery testing market.
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