Global Automotive Battery Testing Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Automotive Battery Testing Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Automotive Battery Testing market finds that the global Automotive Battery Testing market reached a value of USD 619.5 million in 2022. It’s expected that the market will achieve USD 2866.79 million by 2028, exhibiting a CAGR of 29.09% during the forecast period.

The development of emerging economies

At present, the penetration rate of new energy vehicles in emerging economies is low. Taking China as an example, according to relevant survey data, as of the end of 2020, the penetration rate of new energy vehicles in China is 5.9%. Although it has increased from 0.7% in 2015, It is still lower than developed countries such as Norway, France, Sweden, the United Kingdom, and Germany. With the development of emerging economies such as China and the continuous improvement of new energy vehicles, the Automotive Battery Testing market in emerging economies has great potential for development in the future.
In addition, the policy and regulatory environment of mature automobile markets in developed countries has been relatively mature and stable. However, relevant policies in some emerging economies are still inadequate. In the future, the continuous improvement of the policy and regulatory environment in these emerging economies will provide dividends for the development of auto-related industries.

Fierce competition

There are a large number of companies in the industry and the competition is fierce. If the company cannot correctly grasp the market dynamics and industry development trends, it cannot further consolidate its dominant position and ensure its core in product research and development, market expansion, etc. There are market competition risks such as decline in business performance and decline in market share due to weakened competitive advantages. In addition, more and more competitors are entering the market, which means that competition in the industry will become increasingly difficult. If the players still provide roughly the same products or services, or at least few obvious differences; Or if the players continue to compete on price in Automotive Battery Testing, avoiding enhancing products with features and technological content that could increase costs, it will be hard for them to sustain the fierce market. Therefore, companies in the Automotive Battery Testing market must increase their R&D activities in order to gain a competitive edge over other market players.

Region Overview:

In 2021, the share of the Automotive Battery Testing market in Europe stood at 43.29%.

Company Overview

UL is one of the major players operating in the Automotive Battery Testing market, holding a share of 9.79% in 2022.

TÜV SÜD

TÜV SÜD provides industrial maintenance services. The Company offers consulting, testing, inspection, certification, and training services.

UL

UL, LLC is a global safety certification company headquartered in Northbrook, Illinois. Established in 1894 as the Underwriters' Electrical Bureau (a bureau of the National Board of Fire Underwriters),it was known throughout the 20th century as Underwriters Laboratories and participated in the safety analysis of many of that century's new technologies.

Segmentation Overview:

As for product types, the Safety Testingsegment held the largest market share in 2021.

Application Overview:

The market's largest segment by application is the segment Battery Electric Vehicle, with a market share of 69.28% in 2021.

Battery Electric Vehicle

Battery Electric Vehicle is a vehicle that is powered entirely by rechargeable batteries (such as lead-acid batteries, nickel-cadmium batteries, nickel-hydrogen batteries, or lithium-ion batteries).

Hybrid Electric Vehicle

Hybrid Electric Vehicle uses traditional internal combustion engine (diesel engine or gasoline engine) and electric motor as power source.

Key Companies in the global Automotive Battery Testing market covered in Chapter 3:

Intertek Group plc
TÜV SÜD
Element
Shenli Technology Co., Ltd.
UL
Millbrook
Center Testing International Co., Ltd.
Polelink Information Technology
MET Laboratories
IMV Corporation
BV CPS
SGS
MGA Research Corporation
ESPEC

In Chapter 4 and Chapter 14.2, on the basis of types, the Automotive Battery Testing market from 2018 to 2029 is primarily split into:

Safety Testing
Performance Testing
Lifetime Testing

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Automotive Battery Testing market from 2018 to 2029 covers:

Battery Electric Vehicle
Hybrid Electric Vehicle

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)