With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to Surpass USD 36.7 billion

The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth.

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Battery testing, inspection, and certification (TIC) deals with the assessment of batteries on various scales to evaluate the safety, performance, and reliability of batteries to be used in various applications. The battery testing, inspection, and certification market comprises of testing based on various standards and certifications which include safety testing, performance testing, EMC testing and others. Safety testing is crucial to prevent occurrence of any hazard, performance testing is essential to check the efficiency of batteries. The testing, inspection, and certification services for batteries are important across several applications including electric vehicles (EVs), internal combustion engine (ICE) vehicles, industrial equipment, consumer electronics, medical devices, and more. The battery testing, inspection, and certification market is fragmented with the presence of established market players and a large number of small and medium-scale testing, inspection, and certification providers competing across the value chain to strengthen their position in the market and subsequently increase their market share.

The traditional revenue sources for players in the battery testing, inspection, and certification market primarily include testing and certification services for lead-acid, alkaline, nickel-cadmium (NiCd), and nickel-metal hydride (NiMH) batteries used in automotive, industrial, consumer electronics, and portable electronics applications. However, the revenue mix is transitioning toward advanced battery technologies, such as lithium-ion, solid-state, flow batteries, and iron-air batteries. The shift is occurring due to the growing use of electric vehicles (EVs), energy storage systems, medical devices, aerospace, and marine applications. Moreover, revenue is expected to be generated from customized testing solutions and battery inspection services offered by the players in the market, to address the evolving needs of battery manufacturers, and customers across various industries.

Certification services to register the highest CAGR during the forecast period. These certification services are thus of importance in ensuring the safe use of batteries. The certifications seal the approval, which guarantees that a battery meets the safety and performance standard in the industry and can thus be used across various applications. The main resources are the following: detailed reviews regarding the quality, safety, and performance of batteries to prevent accidents and ensure their user safety and reliability in their applications-for example, electric vehicles, EVs, industrial equipment, consumer electronics, and similar products. New battery technologies will further boost the growth of the battery testing, inspection, and certification market through new safety certifications and standards, which will pave the way for the commercialization and safe use of upcoming novel battery types, like solid-state and high-energy-density batteries. Certification, coupled with enhancement of protocols and methodologies, ensures that new battery technologies should go through rigorous testing and evaluation before their commercialization. The new battery market craze demands new evaluation parameters to ensure the safety of batteries.

Lithium-ion batteries register the highest CAGR during the forecast period. The growing adoption of lithium-ion batteries in electric vehicles (EVs) and energy storage systems (ESS) propels the growth of battery testing, inspection, and certification market. Lithium-ion batteries offer high energy density, long cycle life, low self-discharge rate, and rapid charging capability, which makes them ideal to be used in EVs and ESS. As the demand for lithium-ion batteries increases due to surge in adoption of EVs and ESS, consecutively the demand for testing, inspection, and certification services for this battery type will also increase driving the growth of battery testing, inspection, and certification market.

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The key players in the battery testing, inspection, and certification market with a significant global presence include UL LLC (US), SGS SA (Switzerland), Intertek Group plc (UK), TÜV NORD GROUP (Germany), Bureau Veritas (France), DEKRA (Germany), DNV GL (Norway), Eurofins Scientific (Luxembourg), TÜV Rheinland (Germany), TÜV SÜD (Germany). These players have adopted various organic and inorganic growth strategies such as service launches and developments, partnerships, collaborations, acquisitions, and joint ventures to expand their presence globally and increase their share in the battery testing, inspection, and certification market.

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