Summary

The battery TIC 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. The major factors driving the growth of battery TIC market are 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. Moreover, rising investment in clean energy initiatives, and increasing automation of testing and inspection processes using digital technologies to carve out new growth opportunities for market players.

“Electric Vehicles (EVs) to register the largest market share during the forecast period.”
Government incentives and a regulatory landscape conducive to sustainable transportation boost demand for electric vehicles, hence the boom in the EV market. Since EVs provide environmental benefits compared to traditional vehicles, there has been growing adoption of these vehicles, which improves the technology applied in batteries. With growth, demand for TIC services will rise to ensure that EV batteries are manufactured by rigorous standards to ensure safety and reliability. The market expansion is increasing demand for lithium-ion batteries, driven by supportive policies and technological advancements.
Accordingly, the demand of TIC services in industrial equipment applications that includes power tools, telecommunication systems, and energy storage systems, has increased many folds. This is based on the increasing adoption of cordless equipment and ESS in industrial plants where reliable and long-life power sources are required. Rigorous TIC processes are put in place to guarantee that batteries used under difficult conditions are both safe and reliable.

“Lithium-ion battery to register the largest share during the forecast period.”
Important factor that will drive the growth of the battery TIC market is the rising demand for lithium-ion batteries in electric vehicles and energy storage systems. Lithium-ion batteries have an increased energy density with a longer lifespan, thus making them suitable for use in EVs and ESS. With their increasing adoption in EVs and ESS, comes a growing requirement for the testing and certification of these batteries to ultimately ensure conformance to the set standards of safety and performance. This demand is thus fueling growth in the TIC market because safety and reliability of batteries are paramount in these applications. Further accelerating the demand for TIC's comprehensive testing services is the improvement of battery technologies and new standards. Continued trends will point to huge growth in the battery TIC market.
“Europe to register the highest growth during the forecast period.”
The European battery TIC market is growing fast, due to its robust infrastructure, which is backed by top TIC service providers such as SGS SA, Intertek Group plc, TÜV NORD GROUP, Bureau Veritas, DEKRA, DNV GL, and Eurofins Scientific. All these companies mentioned, provide a wide range of services and certifications to comply with stringent regulatory standards. Moreover, rapid transformation to clean energy and the industry boom of industrial equipment and consumer electronics further drive demand for TIC services for lithium-ion batteries. Further, a strong battery manufacturing industry, combined with a focus on clean energy and technological innovation, underpins regional growth of the battery testing, inspection, and certification market in Europe.


The break-up of profile of primary participants in the battery TIC market-
• By Company Type: Tier 1 – 50%, Tier 2 – 30%, Tier 3 – 20%
• By Designation Type: C Level – 35%, Director Level – 30%, Others – 35%
• By Region Type: North America – 20%, Europe – 40%, Asia Pacific – 25%, Rest of the World – 15%

The major players in the battery TIC market with a significant global presence include UL LLC(US), SGS SA (Switzerland), Intertek Group plc (UK), Bureau Veritas (France), and DEKRA (Germany) and others.
Research Coverage
The report segments the battery TIC market and forecasts its size by standard and certification type, battery type, service type, application, and region. The report also provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing market growth. The report also covers qualitative aspects in addition to the quantitative aspects of the market.

Reasons to buy the report:
The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall battery TIC market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:
• Analysis of key drivers (increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances are the major factors driving the market growth), restraints ( high initial capital investments, high testing and certification costs, and lack of uniform and standardized testing protocols), opportunities ( rising investment in clean energy initiatives, increasing automation of testing and inspection processes using digital technologies, and growing need for rigorous testing in electric aircraft and medical devices), and challenges (complexities associated with next-generation batteries, technical barriers to trade due to regulatory divergence, and rise in geopolitical tensions )
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new service launches in the battery TIC market
• Market Development: Comprehensive information about lucrative markets – the report analyses the battery TIC market across varied regions.
• Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the battery TIC market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players like UL LLC(US), SGS SA (Switzerland), Intertek Group plc (UK), Bureau Veritas (France), and DEKRA (Germany).

ページTOPに戻る

Table of Contents

1 INTRODUCTION 24
1.1 STUDY OBJECTIVES 24
1.2 MARKET DEFINITION 24
1.3 STUDY SCOPE 25
1.3.1 MARKETS COVERED 25
1.3.2 REGIONAL SCOPE 25
1.3.3 YEARS CONSIDERED 26
1.3.4 INCLUSIONS AND EXCLUSIONS 26
1.4 CURRENCY CONSIDERED 27
1.5 LIMITATIONS 27
1.6 UNIT CONSIDERED 28
1.7 STAKEHOLDERS 28
1.8 IMPACT OF RECESSION 28
2 RESEARCH METHODOLOGY 29
2.1 RESEARCH APPROACH 29
2.1.1 SECONDARY DATA 30
2.1.1.1 List of major secondary sources 30
2.1.1.2 Key data from secondary sources 31
2.1.2 PRIMARY DATA 31
2.1.2.1 Intended participants in primary interviews 31
2.1.2.2 List of key primary interview participants 32
2.1.2.3 Breakdown of primaries 32
2.1.2.4 Key data from primary sources 33
2.1.3 SECONDARY AND PRIMARY RESEARCH 34
2.1.3.1 Key industry insights 34
2.2 MARKET SIZE ESTIMATION 35
2.2.1 BOTTOM-UP APPROACH 35
2.2.1.1 Approach to estimate market size using bottom-up analysis
(demand side) 35
2.2.2 TOP-DOWN APPROACH 36
2.2.2.1 Approach to estimate market size using top-down analysis
(supply side) 36
2.3 FACTOR ANALYSIS 37
2.3.1 DEMAND-SIDE ANALYSIS 37
2.3.2 SUPPLY-SIDE ANALYSIS 38
2.3.3 MARKET GROWTH FORECAST 39
2.4 RECESSION IMPACT ANALYSIS 39
2.5 DATA TRIANGULATION 40
2.6 RESEARCH ASSUMPTIONS 41
2.7 RISK ASSESSMENT 41
3 EXECUTIVE SUMMARY 42
4 PREMIUM INSIGHTS 47
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN BATTERY TIC MARKET 47
4.2 BATTERY TIC MARKET, BY STANDARD AND CERTIFICATION TYPE 48
4.3 BATTERY TIC MARKET, BY BATTERY TYPE 48
4.4 BATTERY TIC MARKET, BY SERVICE TYPE 49
4.5 BATTERY TIC MARKET, BY APPLICATION 49
4.6 BATTERY TIC MARKET IN ASIA PACIFIC, BY BATTERY TYPE AND COUNTRY 50
5 MARKET OVERVIEW 51
5.1 INTRODUCTION 51
5.2 MARKET DYNAMICS 52
5.2.1 DRIVERS 53
5.2.1.1 Increasing adoption of EVs and energy storage systems 53
5.2.1.2 Rising enforcement of stringent standards to ensure battery safety 54
5.2.1.3 Thriving portable electronics industry 54
5.2.1.4 Rapid advances in battery technology 55
5.2.2 RESTRAINTS 56
5.2.2.1 High initial capital investment 56
5.2.2.2 Lack of uniform and standardized testing protocols 57
5.2.2.3 High testing and certification costs 57
5.2.3 OPPORTUNITIES 58
5.2.3.1 Rising investment in clean energy initiatives 58
5.2.3.2 Increasing automation of testing and inspection processes using digital technologies 59
5.2.3.3 Growing need for rigorous testing of electric aircraft and medical devices 59
5.2.4 CHALLENGES 60
5.2.4.1 Complexities associated with next-generation batteries 60
5.2.4.2 Technical barriers to trade due to regulatory divergence 61
5.2.4.3 Rise in geopolitical tensions 61
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 62
5.4 PRICING ANALYSIS 63
5.4.1 INDICATIVE PRICING TREND OF BATTERY CERTIFICATIONS 63
5.4.2 INDICATIVE PRICING TREND, BY REGION 64
5.5 SUPPLY CHAIN ANALYSIS 65
5.6 ECOSYSTEM ANALYSIS 66
5.7 INVESTMENT AND FUNDING SCENARIO 68
5.8 TECHNOLOGY ANALYSIS 68
5.8.1 KEY TECHNOLOGIES 68
5.8.1.1 High-precision charging and discharging systems 68
5.8.2 COMPLEMENTARY TECHNOLOGIES 69
5.8.2.1 Battery packaging and enclosure 69
5.8.3 ADJACENT TECHNOLOGIES 69
5.8.3.1 Energy storage and management systems 69
5.9 PATENT ANALYSIS 70
5.10 TRADE ANALYSIS 72
5.10.1 EXPORT SCENARIO (HS CODE 8507) 72
5.10.2 IMPORT SCENARIO (HS CODE 8507) 73
5.11 KEY CONFERENCES AND EVENTS, 2024–2025 74
5.12 CASE STUDY ANALYSIS 75
5.12.1 INTERTEK GROUP PLC DEVELOPS TEST PROTOCOLS AND EVALUATION METHODS TO HELP AUTOMOTIVE OEM CONSORTIUM MEET STRINGENT REGULATORY REQUIREMENTS 75
5.12.2 INTERTEK GROUP PLC CONDUCTS BATTERY TESTING AND MATHEMATICAL MODELING TO HELP MILITARY DIVISION IDENTIFY NICD BATTERY ALTERNATIVES 76
5.12.3 TRIATHLON GROUP PARTNERS WITH UL LLC TO OBTAIN CERTIFICATIONS FOR LITHIUM-ION BATTERIES 76
5.12.4 LABTEST CERTIFICATION INC. TESTS BATTERY PACKS TO ADHERE TO SAFETY AND PERFORMANCE STANDARDS 77
5.12.5 LABTEST CERTIFICATION INC. SUBJECTS BATTERY SYSTEMS TO RIGOROUS TESTING TO DEMONSTRATE DURABILITY AND SAFETY 77
5.13 REGULATORY LANDSCAPE 77
5.13.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 77
5.14 PORTER’S FIVE FORCES ANALYSIS 81
5.14.1 THREAT OF NEW ENTRANTS 82
5.14.2 THREAT OF SUBSTITUTES 82
5.14.3 BARGAINING POWER OF SUPPLIERS 83
5.14.4 BARGAINING POWER OF BUYERS 83
5.14.5 INTENSITY OF COMPETITIVE RIVALRY 83
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA 84
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS 84
5.15.2 BUYING CRITERIA 85
6 USERS OF BATTERY TIC SERVICES 86
6.1 INTRODUCTION 86
6.2 BATTERY MANUFACTURERS 86
6.3 BATTERY-OPERATED PRODUCT MANUFACTURERS/USERS 87
 
7 BATTERY TIC MARKET, BY STANDARD AND CERTIFICATION TYPE 88
7.1 INTRODUCTION 89
7.2 SAFETY TESTING 90
7.2.1 INCREASING USE OF SPECIALIZED BATTERY TECHNOLOGIES IN CRITICAL APPLICATIONS TO ACCELERATE SEGMENTAL GROWTH 90
7.3 EMC TESTING 93
7.3.1 COMMERCIALIZATION OF VARIETIES OF ELECTRONIC DEVICES TO CONTRIBUTE TO SEGMENTAL GROWTH 93
7.4 PERFORMANCE TESTING 94
7.4.1 GROWING DEMAND FOR HIGH-PERFORMANCE AND LONG-LASTING BATTERIES ACROSS INDUSTRIES TO SUPPORT SEGMENTAL GROWTH 94
7.5 OTHERS 94
8 BATTERY TIC MARKET, BY BATTERY TYPE 96
8.1 INTRODUCTION 97
8.2 LITHIUM-ION 98
8.2.1 GROWING DEMAND FOR EVS TO DRIVE MARKET 98
8.3 LEAD–ACID 104
8.3.1 INCREASING NEED FOR UNINTERRUPTED POWER SUPPLY IN AUTOMOTIVE APPLICATIONS TO FUEL MARKET GROWTH 104
8.4 NICKEL–METAL HYDRIDE 109
8.4.1 EXTENSIVE USE OF NIMH BATTERIES IN HYBRID ELECTRIC VEHICLES AND INDUSTRIAL EQUIPMENT TO FOSTER MARKET GROWTH 109
8.5 OTHER BATTERY TYPES 115
9 BATTERY TIC MARKET, BY APPLICATION 121
9.1 INTRODUCTION 122
9.2 ELECTRIC VEHICLES (EVS) 123
9.2.1 GOVERNMENT INCENTIVES AND REGULATORY POLICIES PROMOTING ADOPTION OF EVS TO SUPPORT MARKET GROWTH 123
9.3 ICE VEHICLES 125
9.3.1 LOWER COST AND WIDESPREAD AVAILABILITY OF FUEL STATIONS TO DRIVE MARKET 125
9.4 CONSUMER ELECTRONICS 127
9.4.1 THRIVING PORTABLE ELECTRONICS INDUSTRY TO ACCELERATE MARKET GROWTH 127
9.5 INDUSTRIAL EQUIPMENT 128
9.5.1 INCREASING IMPLEMENTATION OF ENERGY STORAGE SYSTEMS TO BOOST DEMAND 128
9.6 MEDICAL DEVICES 130
9.6.1 STRINGENT SAFETY AND RELIABILITY STANDARDS TO CONTRIBUTE TO MARKET GROWTH 130
9.7 OTHER APPLICATIONS 131
 
10 BATTERY TIC MARKET, BY SERVICE TYPE 133
10.1 INTRODUCTION 134
10.2 TESTING 135
10.2.1 RISING DEMAND FOR ELECTRIC VEHICLES AND BATTERY-POWERED DEVICES TO AUGMENT SEGMENTAL GROWTH 135
10.3 INSPECTION 136
10.3.1 GROWING DEPLOYMENT OF INDUSTRY 4.0 TECHNOLOGIES TO CREATE OPPORTUNITIES FOR INSPECTION SERVICE PROVIDERS 136
10.4 CERTIFICATION 137
10.4.1 INCREASING NEED TO COMPLY WITH SAFETY AND REGULATORY STANDARDS TO ACCELERATE DEMAND FOR CERTIFICATION SERVICES 137
11 BATTERY TIC MARKET, BY REGION 138
11.1 INTRODUCTION 139
11.2 NORTH AMERICA 141
11.2.1 RECESSION IMPACT ON MARKET IN NORTH AMERICA 143
11.2.2 US 143
11.2.2.1 Growing emphasis on cleaner energy adoption to drive market 143
11.2.3 CANADA 144
11.2.3.1 Booming electric vehicle industry to fuel market growth 144
11.2.4 MEXICO 145
11.2.4.1 Increasing investment in establishing battery manufacturing plants to foster market growth 145
11.3 EUROPE 146
11.3.1 RECESSION IMPACT ON MARKET IN EUROPE 148
11.3.2 UK 149
11.3.2.1 Government initiatives encouraging adoption of clean energy to accelerate market growth 149
11.3.3 GERMANY 150
11.3.3.1 Presence of major battery TIC service providers to support market growth 150
11.3.4 FRANCE 151
11.3.4.1 Increasing sales of EV and HEV cars to contribute to market growth 151
11.3.5 REST OF EUROPE 152
11.4 ASIA PACIFIC 153
11.4.1 RECESSION IMPACT ON MARKET IN ASIA PACIFIC 155
11.4.2 CHINA 156
11.4.2.1 Growing partnership agreements of battery manufacturers with TIC service provides to drive market 156
11.4.3 JAPAN 157
11.4.3.1 Robust presence of specialist battery material and chemical suppliers to augment market growth 157
 
11.4.4 SOUTH KOREA 158
11.4.4.1 Strong presence of globally competitive battery manufacturers to support market growth 158
11.4.5 REST OF ASIA PACIFIC 159
11.5 ROW 160
11.5.1 RECESSION IMPACT ON MARKET IN ROW 161
11.5.2 SOUTH AMERICA 162
11.5.2.1 Growing demand for emergency power storage systems to create opportunities for TIC service providers 162
11.5.3 MIDDLE EAST 163
11.5.3.1 Government initiatives promoting sustainable energy sources and electric vehicle adoption to create growth opportunities 163
11.5.3.2 GCC countries 164
11.5.3.3 Rest of Middle East 165
11.5.4 AFRICA 165
11.5.4.1 Growing investments in advanced battery technologies to drive market 165
12 COMPETITIVE LANDSCAPE 167
12.1 INTRODUCTION 167
12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2023 167
12.3 MARKET SHARE ANALYSIS, 2023 168
12.4 COMPANY VALUATION AND FINANCIAL METRICS 170
12.5 BRAND/PRODUCT COMPARISON 172
12.6 REVENUE ANALYSIS, 2021–2023 173
12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 173
12.7.1 STARS 173
12.7.2 EMERGING LEADERS 173
12.7.3 PERVASIVE PLAYERS 174
12.7.4 PARTICIPANTS 174
12.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 175
12.7.5.1 Company footprint 175
12.7.5.2 Standard and certification type footprint 176
12.7.5.3 Battery type footprint 177
12.7.5.4 Service type footprint 178
12.7.5.5 Application footprint 179
12.7.5.6 Region footprint 180
12.8 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023 181
12.8.1 PROGRESSIVE COMPANIES 181
12.8.2 RESPONSIVE COMPANIES 181
12.8.3 DYNAMIC COMPANIES 181
12.8.4 STARTING BLOCKS 181
 
12.8.5 COMPETITIVE BENCHMARKING: START-UPS/SMES, 2023 183
12.8.5.1 Detailed list of key start-ups/SMEs 183
12.8.5.2 Competitive benchmarking of key start-ups/SMEs 184
12.9 COMPETITIVE SCENARIO AND TRENDS 185
12.9.1 SERVICE LAUNCHES 185
12.9.2 DEALS 186
12.9.3 EXPANSIONS 190
13 COMPANY PROFILES 194
13.1 INTRODUCTION 194
13.2 KEY PLAYERS 195
13.2.1 UL LLC 195
13.2.1.1 Business overview 195
13.2.1.2 Services offered 195
13.2.1.3 Recent developments 197
13.2.1.3.1 Service launches 197
13.2.1.3.2 Deals 198
13.2.1.3.3 Expansions 199
13.2.1.4 MnM view 201
13.2.1.4.1 Key strengths/Right to win 201
13.2.1.4.2 Strategic choices 201
13.2.1.4.3 Weaknesses/Competitive threats 202
13.2.2 SGS SA 203
13.2.2.1 Business overview 203
13.2.2.2 Services offered 204
13.2.2.3 Recent developments 205
13.2.2.3.1 Deals 205
13.2.2.3.2 Expansions 206
13.2.2.4 MnM view 207
13.2.2.4.1 Key strengths/Right to win 207
13.2.2.4.2 Strategic choices 207
13.2.2.4.3 Weaknesses/Competitive threats 207
13.2.3 INTERTEK GROUP PLC 208
13.2.3.1 Business overview 208
13.2.3.2 Services offered 209
13.2.3.3 Recent developments 211
13.2.3.3.1 Deals 211
13.2.3.3.2 Expansions 212
13.2.3.4 MnM view 212
13.2.3.4.1 Key strengths/Right to win 212
13.2.3.4.2 Strategic choices 213
13.2.3.4.3 Weaknesses/Competitive threats 213
13.2.4 BUREAU VERITAS 214
13.2.4.1 Business overview 214
13.2.4.2 Services offered 215
13.2.4.3 Recent developments 216
13.2.4.3.1 Deals 216
13.2.4.4 MnM view 217
13.2.4.4.1 Key strengths/Right to win 217
13.2.4.4.2 Strategic choices 217
13.2.4.4.3 Weaknesses/Competitive threats 217
13.2.5 DEKRA 218
13.2.5.1 Business overview 218
13.2.5.2 Services offered 219
13.2.5.3 Recent developments 220
13.2.5.3.1 Service launches 220
13.2.5.3.2 Expansions 220
13.2.5.4 MnM view 220
13.2.5.4.1 Key strengths/Right to win 220
13.2.5.4.2 Strategic choices 221
13.2.5.4.3 Weaknesses/Competitive threats 221
13.2.6 TÜV NORD GROUP 222
13.2.6.1 Business overview 222
13.2.6.2 Services offered 223
13.2.7 DNV GL 225
13.2.7.1 Business overview 225
13.2.7.2 Services offered 227
13.2.8 EUROFINS SCIENTIFIC 228
13.2.8.1 Business overview 228
13.2.8.2 Services offered 229
13.2.8.3 Recent developments 230
13.2.8.3.1 Service launches 230
13.2.8.3.2 Expansions 230
13.2.9 TÜV RHEINLAND 231
13.2.9.1 Business overview 231
13.2.9.2 Services offered 232
13.2.9.3 Recent developments 233
13.2.9.3.1 Service launches 233
13.2.9.3.2 Expansions 233
 
13.2.10 TÜV SÜD 234
13.2.10.1 Business overview 234
13.2.10.2 Services offered 235
13.2.10.3 Recent developments 236
13.2.10.3.1 Deals 236
13.2.10.3.2 Expansions 236
13.3 OTHER PLAYERS 237
13.3.1 CSA GROUP TESTING & CERTIFICATION INC. 237
13.3.2 ELEMENT MATERIALS TECHNOLOGY 238
13.3.3 APPLUS+ 239
13.3.4 NEMK0 240
13.3.5 VDE RENEWABLES GMBH 241
13.3.6 INTL 242
13.3.7 DONGGUAN LEPONT TESTING SERVICE CO., LTD. 243
13.3.8 CIRS GROUP 244
13.3.9 LABTEST CERTIFICATION INC. 245
13.3.10 KIWA 246
13.3.11 ATIC (GUANGZHOU) CO., LTD. 247
13.3.12 APPLIED TECHNICAL SERVICES 248
13.3.13 CARELABS 249
13.3.14 MCM TECHNOLOGY & SERVICE 250
13.3.15 CESI (KEMA LABS) 251
14 APPENDIX 252
14.1 INSIGHTS FROM INDUSTRY EXPERTS 252
14.2 DISCUSSION GUIDE 253
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 256
14.4 CUSTOMIZATION OPTIONS 258
14.5 RELATED REPORTS 258
14.6 AUTHOR DETAILS 259