배터리 TIC(시험·검사·인증) 시장 – 2029년까지의 세계 예측

조사회사 : MarketsandMarkets (마켓츠앤마켓츠)   출판년월 : 2024년07월

Battery TIC Market – Global Forecast to 2029

배터리 TIC(시험·검사·인증) 시장 – 배터리 유형(리튬 이온, 납 축전지), 표준 및 인증 유형(안전성 테스트, EMC 테스트), 애플리케이션(전기 자동차, 가정용 전기 제품) 및 지역 – 2029년까지의 세계 예측
Battery Testing, Inspection, and Certification Market by Battery Type (Lithium-ion, Lead-acid), Standard and Certification Type (Safety Testing, EMC Testing), Application (Electric Vehicles, Consumer Electronics) and Region – Global Forecast to 2029

　　　　주문/문의　　　　조사회사/라이센스/납기안내

Report Overview

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.

배터리 TIC 시장은 예측 기간 동안 19.6%의 CAGR로 2024년 149억 달러에서 2029년까지 367억 달러에 이를 것으로 예측됩니다.

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).

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

LIST OF TABLES

TABLE 1             INCLUSIONS AND EXCLUSIONS: BY COMPANY 26

TABLE 2             INCLUSIONS AND EXCLUSIONS: BY STANDARD AND CERTIFICATION TYPE  26

TABLE 3             INCLUSIONS AND EXCLUSIONS: BY BATTERY TYPE       26

TABLE 4             INCLUSIONS AND EXCLUSIONS: BY APPLICATION         27

TABLE 5             INCLUSIONS AND EXCLUSIONS: BY SERVICE TYPE         27

TABLE 6             INCLUSIONS AND EXCLUSIONS: BY REGION      27

TABLE 7             MARKET GROWTH FORECAST  39

TABLE 8             RISK ASSESSMENT: BATTERY TIC MARKET        41

TABLE 9             INDICATIVE PRICING TREND OF BATTERY CERTIFICATIONS, 2021–2023 (USD)             64

TABLE 10           INDICATIVE PRICING TREND OF IEC BATTERY CERTIFICATIONS, BY REGION,

2021–2023 (USD)             64

TABLE 11           ROLE OF COMPANIES IN BATTERY TIC ECOSYSTEM      67

TABLE 12           NUMBERS OF PATENTS GRANTED AND APPLIED, 2014–2023              70

TABLE 13           LIST OF PATENTS, 2014–2023     71

TABLE 14           EXPORT DATA FOR HS CODE 8507-COMPLIANT PRODUCTS, BY COUNTRY,

2019–2023 (USD MILLION)          72

TABLE 15           IMPORT DATA FOR HS CODE 8507-COMPLIANT PRODUCTS, BY COUNTRY,

2019–2023 (USD MILLION)          73

TABLE 16           LIST OF KEY CONFERENCES AND EVENTS, 2024–2025    74

TABLE 17           NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS 77

TABLE 18           EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS 78

TABLE 19           ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS 79

TABLE 20           ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS 80

TABLE 21           PORTER’S FIVE FORCES ANALYSIS         82

TABLE 22           INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR

TOP THREE APPLICATIONS (%)             84

TABLE 23           KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS              85

TABLE 24           BATTERY TIC MARKET, BY STANDARD AND CERTIFICATION TYPE,

2020–2023 (USD MILLION)          89

TABLE 25           BATTERY TIC MARKET, BY STANDARD AND CERTIFICATION TYPE,

2024–2029 (USD MILLION)          90

TABLE 26           SAFETY TESTING STANDARDS FOR LITHIUM-ION BATTERIES              91

TABLE 27           SAFETY TESTING STANDARDS FOR LEAD–ACID BATTERIES              91

TABLE 28           SAFETY TESTING STANDARDS FOR NICKEL–METAL HYDRIDE BATTERIES       92

TABLE 29           BATTERY TIC MARKET, BY BATTERY TYPE, 2020–2023 (USD MILLION)          97

TABLE 30           BATTERY TIC MARKET, BY BATTERY TYPE, 2024–2029 (USD MILLION)          98

TABLE 31           LITHIUM-ION: BATTERY TIC MARKET, BY APPLICATION, 2020–2023 (USD MILLION)     99

TABLE 32           LITHIUM-ION: BATTERY TIC MARKET, BY APPLICATION, 2024–2029 (USD MILLION)     100

TABLE 33           LITHIUM-ION: BATTERY TIC MARKET, BY APPLICATION, 2020–2023 (GWH)       100

TABLE 34           LITHIUM-ION: BATTERY TIC MARKET, BY APPLICATION, 2024–2029 (GWH)       101

TABLE 35           LITHIUM-ION: BATTERY TIC MARKET, BY REGION, 2020–2023 (USD MILLION) 101

TABLE 36           LITHIUM-ION: BATTERY TIC MARKET, BY REGION, 2024–2029 (USD MILLION) 101

TABLE 37           LITHIUM-ION: BATTERY TIC MARKET IN NORTH AMERICA, BY COUNTRY,

2020–2023 (USD MILLION)          102

TABLE 38           LITHIUM-ION: BATTERY TIC MARKET IN NORTH AMERICA, BY COUNTRY,

2024–2029 (USD MILLION)          102

TABLE 39           LITHIUM-ION: BATTERY TIC MARKET IN EUROPE, BY COUNTRY,

2020–2023 (USD MILLION)          102

TABLE 40           LITHIUM-ION: BATTERY TIC MARKET IN EUROPE, BY COUNTRY,

2024–2029 (USD MILLION)          103

TABLE 41           LITHIUM-ION: BATTERY TIC MARKET IN ASIA PACIFIC, BY COUNTRY,

2020–2023 (USD MILLION)          103

TABLE 42           LITHIUM-ION: BATTERY TIC MARKET IN ASIA PACIFIC, BY COUNTRY,

2024–2029 (USD MILLION)          103

TABLE 43           LITHIUM-ION: BATTERY TIC MARKET IN ROW, BY REGION,

2020–2023 (USD MILLION)          104

TABLE 44           LITHIUM-ION: BATTERY TIC MARKET IN ROW, BY REGION,

2024–2029 (USD MILLION)          104

TABLE 45           LEAD–ACID: BATTERY TIC MARKET, BY APPLICATION, 2020–2023 (USD MILLION)     105

TABLE 46           LEAD–ACID: BATTERY TIC MARKET, BY APPLICATION, 2024–2029 (USD MILLION)     106

TABLE 47           LEAD–ACID: BATTERY TIC MARKET, BY REGION, 2020–2023 (USD MILLION) 106

TABLE 48           LEAD–ACID: BATTERY TIC MARKET, BY REGION, 2024–2029 (USD MILLION) 106

TABLE 49           LEAD–ACID: BATTERY TIC MARKET IN NORTH AMERICA, BY COUNTRY,

2020–2023 (USD MILLION)          107

TABLE 50           LEAD–ACID: BATTERY TIC MARKET IN NORTH AMERICA, BY COUNTRY,

2024–2029 (USD MILLION)          107

TABLE 51           LEAD–ACID: BATTERY TIC MARKET IN EUROPE, BY COUNTRY,

2020–2023 (USD MILLION)          107

TABLE 52           LEAD–ACID: BATTERY TIC MARKET IN EUROPE, BY COUNTRY,

2024–2029 (USD MILLION)          108

TABLE 53           LEAD–ACID: BATTERY TIC MARKET IN ASIA PACIFIC, BY COUNTRY,

2020–2023 (USD MILLION)          108

TABLE 54           LEAD–ACID: BATTERY TIC MARKET IN ASIA PACIFIC, BY COUNTRY,

2024–2029 (USD MILLION)          108

TABLE 55           LEAD–ACID: BATTERY TIC MARKET IN ROW, BY REGION,

2020–2023 (USD MILLION)          109

TABLE 56           LEAD–ACID: BATTERY TIC MARKET IN ROW, BY REGION,

2024–2029 (USD MILLION)          109

TABLE 57           NICKEL–METAL HYDRIDE: BATTERY TIC MARKET, BY APPLICATION,

2020–2023 (USD MILLION)          110

TABLE 58           NICKEL–METAL HYDRIDE: BATTERY TIC MARKET, BY APPLICATION,

2024–2029 (USD MILLION)          111

TABLE 59           NICKEL–METAL HYDRIDE: BATTERY TIC MARKET, BY REGION,

2020–2023 (USD MILLION)          111

TABLE 60           NICKEL–METAL HYDRIDE: BATTERY TIC MARKET, BY REGION,

2024–2029 (USD MILLION)          112

TABLE 61           NICKEL–METAL HYDRIDE: BATTERY TIC MARKET IN NORTH AMERICA,

BY COUNTRY, 2020–2023 (USD MILLION)            112

TABLE 62           NICKEL–METAL HYDRIDE: BATTERY TIC MARKET IN NORTH AMERICA,

BY COUNTRY, 2024–2029 (USD MILLION)            112

TABLE 63           NICKEL–METAL HYDRIDE: BATTERY TIC MARKET IN EUROPE, BY COUNTRY,

2020–2023 (USD MILLION)          113

TABLE 64           NICKEL–METAL HYDRIDE: BATTERY TIC MARKET IN EUROPE, BY COUNTRY,

2024–2029 (USD MILLION)          113

TABLE 65           NICKEL–METAL HYDRIDE: BATTERY TIC MARKET IN ASIA PACIFIC, BY COUNTRY, 2020–2023 (USD MILLION)          113

TABLE 66           NICKEL–METAL HYDRIDE: BATTERY TIC MARKET IN ASIA PACIFIC, BY COUNTRY, 2024–2029 (USD MILLION)          114

TABLE 67           NICKEL–METAL HYDRIDE: BATTERY TIC MARKET IN ROW, BY REGION,

2020–2023 (USD MILLION)          114

TABLE 68           NICKEL–METAL HYDRIDE: BATTERY TIC MARKET IN ROW, BY REGION,

2024–2029 (USD MILLION)          114

TABLE 69           OTHER BATTERY TYPES: BATTERY TIC MARKET, BY APPLICATION,

2020–2023, (USD MILLION)         115

TABLE 70           OTHER BATTERY TYPES: BATTERY TIC MARKET, BY APPLICATION,

2024–2029 (USD MILLION)          116

TABLE 71           OTHER BATTERY TYPES: BATTERY TIC MARKET, BY REGION,

2020–2023 (USD MILLION)          117

TABLE 72           OTHER BATTERY TYPES: BATTERY TIC MARKET, BY REGION,

2024–2029 (USD MILLION)          117

TABLE 73           OTHER BATTERY TYPES: BATTERY TIC MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2023 (USD MILLION)       117

TABLE 74           OTHER BATTERY TYPES: BATTERY TIC MARKET IN NORTH AMERICA, BY COUNTRY, 2024–2029 (USD MILLION)       118

TABLE 75           OTHER BATTERY TYPES: BATTERY TIC MARKET IN EUROPE, BY COUNTRY,

2020–2023 (USD MILLION)          118

TABLE 76           OTHER BATTERY TYPES: BATTERY TIC MARKET IN EUROPE, BY COUNTRY,

2024–2029 (USD MILLION)          118

TABLE 77           OTHER BATTERY TYPES: BATTERY TIC MARKET IN ASIA PACIFIC, BY COUNTRY, 2020–2023 (USD MILLION)          119

TABLE 78           OTHER BATTERY TYPES: BATTERY TIC MARKET IN ASIA PACIFIC, BY COUNTRY, 2024–2029 (USD MILLION)          119

TABLE 79           OTHER BATTERY TYPES: BATTERY TIC MARKET IN ROW, BY REGION,

2020–2023 (USD MILLION)          119

TABLE 80           OTHER BATTERY TYPES: BATTERY TIC MARKET IN ROW, BY REGION,

2024–2029 (USD MILLION)          120

TABLE 81           BATTERY TIC MARKET, BY APPLICATION, 2020–2023 (USD MILLION)          122

TABLE 82           BATTERY TIC MARKET, BY APPLICATION, 2024–2029 (USD MILLION)          123

TABLE 83           ELECTRIC VEHICLES (EVS): BATTERY TIC MARKET, BY BATTERY TYPE,

2020–2023 (USD MILLION)          124

TABLE 84           ELECTRIC VEHICLES (EVS): BATTERY TIC MARKET, BY BATTERY TYPE,

2024–2029 (USD MILLION)          125

TABLE 85           ICE VEHICLES: TIC MARKET, BY BATTERY TYPE, 2020–2023 (USD MILLION) 126

TABLE 86           ICE VEHICLES: BATTERY TIC MARKET, BY BATTERY TYPE,

2024–2029 (USD MILLION)          126

TABLE 87           CONSUMER ELECTRONICS: BATTERY TIC MARKET, BY BATTERY TYPE,

2020–2023 (USD MILLION)          128

TABLE 88           CONSUMER ELECTRONICS: BATTERY TIC MARKET, BY BATTERY TYPE,

2024–2029 (USD MILLION)          128

TABLE 89           INDUSTRIAL EQUIPMENT: BATTERY TIC MARKET, BY BATTERY TYPE,

2020–2023 (USD MILLION)          129

TABLE 90           INDUSTRIAL EQUIPMENT: BATTERY TIC MARKET, BY BATTERY TYPE,

2024–2029 (USD MILLION)          130

TABLE 91           MEDICAL DEVICES: BATTERY TIC MARKET, BY BATTERY TYPE,

2020–2023 (USD MILLION)          131

TABLE 92           MEDICAL DEVICES: BATTERY TIC MARKET, BY BATTERY TYPE,

2024–2029 (USD MILLION)          131

TABLE 93           OTHER APPLICATIONS: BATTERY TIC MARKET, BY BATTERY TYPE,

2020–2023 (USD MILLION)          132

TABLE 94           OTHER APPLICATIONS: BATTERY TIC MARKET, BY BATTERY TYPE,

2024–2029 (USD MILLION)          132

TABLE 95           BATTERY TIC MARKET, BY SERVICE TYPE, 2020–2023 (USD MILLION)          134

TABLE 96           BATTERY TIC MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION)          135

TABLE 97           BATTERY TIC MARKET, BY REGION, 2020–2023 (USD MILLION)              140

TABLE 98           BATTERY TIC MARKET, BY REGION, 2024–2029 (USD MILLION)              140

TABLE 99           NORTH AMERICA: BATTERY TIC MARKET, BY COUNTRY,

2020–2023 (USD MILLION)          142

TABLE 100         NORTH AMERICA: BATTERY TIC MARKET, BY COUNTRY,

2024–2029 (USD MILLION)          142

TABLE 101         NORTH AMERICA: BATTERY TIC MARKET, BY BATTERY TYPE,

2020–2023 (USD MILLION)          142

TABLE 102         NORTH AMERICA: BATTERY TIC MARKET, BY BATTERY TYPE,

2024–2029 (USD MILLION)          142

TABLE 103         US: BATTERY TIC MARKET, BY BATTERY TYPE, 2020–2023 (USD MILLION)          144

TABLE 104         US: BATTERY TIC MARKET, BY BATTERY TYPE, 2024–2029 (USD MILLION)          144

TABLE 105         CANADA: BATTERY TIC MARKET, BY BATTERY TYPE, 2020–2023 (USD MILLION) 145

TABLE 106         CANADA: BATTERY TIC MARKET, BY BATTERY TYPE, 2024–2029 (USD MILLION) 145

TABLE 107         MEXICO: BATTERY TIC MARKET, BY BATTERY TYPE, 2020–2023 (USD MILLION )             146

TABLE 108         MEXICO: BATTERY TIC MARKET, BY BATTERY TYPE, 2024–2029 (USD MILLION) 146

TABLE 109         EUROPE: BATTERY TIC MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 147

TABLE 110         EUROPE: BATTERY TIC MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 148

TABLE 111         EUROPE: BATTERY TIC MARKET, BY BATTERY TYPE, 2020–2023 (USD MILLION) 148

TABLE 112         EUROPE: BATTERY TIC MARKET, BY BATTERY TYPE, 2024–2029 (USD MILLION) 148

TABLE 113         UK: BATTERY TIC MARKET, BY BATTERY TYPE, 2020–2023 (USD MILLION)          149

TABLE 114         UK: BATTERY TIC MARKET, BY BATTERY TYPE, 2024–2029 (USD MILLION)          150

TABLE 115         GERMANY: BATTERY TIC MARKET, BY BATTERY TYPE, 2020–2023 (USD MILLION)     150

TABLE 116         GERMANY: BATTERY TIC MARKET, BY BATTERY TYPE, 2024–2029 (USD MILLION)     151

TABLE 117         FRANCE: BATTERY TIC MARKET, BY BATTERY TYPE, 2020–2023 (USD MILLION) 151

TABLE 118         FRANCE: BATTERY TIC MARKET, BY BATTERY TYPE, 2024–2029 (USD MILLION) 152

TABLE 119         REST OF EUROPE: BATTERY TIC MARKET, BY BATTERY TYPE,

2020–2023 (USD MILLION )         152

TABLE 120         REST OF EUROPE: BATTERY TIC MARKET, BY BATTERY TYPE,

2024–2029 (USD MILLION)          153

TABLE 121         ASIA PACIFIC: BATTERY TIC MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 154

TABLE 122         ASIA PACIFIC: BATTERY TIC MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 155

TABLE 123         ASIA PACIFIC: BATTERY TIC MARKET, BY BATTERY TYPE,

2020–2023 (USD MILLION)          155

TABLE 124         ASIA PACIFIC: BATTERY TIC MARKET, BY BATTERY TYPE,

2024–2029 (USD MILLION)          155

TABLE 125         CHINA: BATTERY TIC MARKET, BY BATTERY TYPE, 2020–2023 (USD MILLION) 156

TABLE 126         CHINA: BATTERY TIC MARKET, BY BATTERY TYPE, 2024–2029 (USD MILLION) 156

TABLE 127         JAPAN: BATTERY TIC MARKET, BY BATTERY TYPE, 2020–2023 (USD MILLION )             157

TABLE 128         JAPAN: BATTERY TIC MARKET, BY BATTERY TYPE, 2024–2029 (USD MILLION) 157

TABLE 129         SOUTH KOREA: BATTERY TIC MARKET, BY BATTERY TYPE,

2020–2023 (USD MILLION )         158

TABLE 130         SOUTH KOREA: BATTERY TIC MARKET, BY BATTERY TYPE,

2024–2029 (USD MILLION)          158

TABLE 131         REST OF ASIA PACIFIC: BATTERY TIC MARKET, BY BATTERY TYPE,

2020–2023 (USD MILLION)          159

TABLE 132         REST OF ASIA PACIFIC: BATTERY TIC MARKET, BY BATTERY TYPE,

2024–2029 (USD MILLION)          159

TABLE 133         ROW: BATTERY TIC MARKET, BY REGION, 2020–2023 (USD MILLION)          160

TABLE 134         ROW: BATTERY TIC MARKET, BY REGION, 2024–2029 (USD MILLION)          160

TABLE 135         ROW: BATTERY TIC MARKET, BY BATTERY TYPE, 2020–2023 (USD MILLION) 161

TABLE 136         ROW: BATTERY TIC MARKET, BY BATTERY TYPE, 2024–2029 (USD MILLION) 161

TABLE 137         SOUTH AMERICA: BATTERY TIC MARKET, BY BATTERY TYPE,

2020–2023 (USD MILLION )         162

TABLE 138         SOUTH AMERICA: BATTERY TIC MARKET, BY BATTERY TYPE,

2024–2029 (USD MILLION)          162

TABLE 139         MIDDLE EAST: BATTERY TIC MARKET, BY COUNTRY, 2020–2023 (USD MILLION)     163

TABLE 140         MIDDLE EAST: BATTERY TIC MARKET, BY COUNTRY, 2024–2029 (USD MILLION)     163

TABLE 141         MIDDLE EAST: BATTERY TIC MARKET, BY BATTERY TYPE,

2020–2023 (USD MILLION)          164

TABLE 142         MIDDLE EAST: BATTERY TIC MARKET, BY BATTERY TYPE,

2024–2029 (USD MILLION)          164

TABLE 143         AFRICA: BATTERY TIC MARKET, BY BATTERY TYPE, 2020–2023 (USD MILLION )             165

TABLE 144         AFRICA: BATTERY TIC MARKET, BY BATTERY TYPE, 2024–2029 (USD MILLION) 166

TABLE 145         BATTERY TIC MARKET: OVERVIEW OF STRATEGIES ADOPTED

BY KEY PLAYERS, 2020–2023       167

TABLE 146         BATTERY TIC MARKET SHARE ANALYSIS, 2023  169

TABLE 147         BATTERY TIC MARKET: STANDARD AND CERTIFICATION TYPE FOOTPRINT         176

TABLE 148         BATTERY TIC MARKET: BATTERY TYPE FOOTPRINT     177

TABLE 149         BATTERY TIC MARKET: SERVICE TYPE FOOTPRINT      178

TABLE 150         BATTERY TIC MARKET: APPLICATION FOOTPRINT       179

TABLE 151         BATTERY TIC MARKET: REGION FOOTPRINT    180

TABLE 152         BATTERY TIC MARKET: DETAILED LIST OF KEY START-UPS/SMES         183

TABLE 153         BATTERY TIC MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES  184

TABLE 154         BATTERY TIC MARKET: SERVICE LAUNCHES, JANUARY 2020–MAY 2024           185

TABLE 155         BATTERY TIC MARKET: DEALS, JANUARY 2020–MAY 2024              186

TABLE 156         BATTERY TIC MARKET: EXPANSIONS, JANUARY 2020–MAY 2024              190

TABLE 157         UL LLC: COMPANY OVERVIEW 195

TABLE 158         UL LLC: SERVICES OFFERED     195

TABLE 159         UL LCC: SERVICE LAUNCHES    197

TABLE 160         UL LLC: DEALS 198

TABLE 161         UL LLC: EXPANSIONS   199

TABLE 162         SGS SA: COMPANY OVERVIEW  203

TABLE 163         SGS SA: SERVICES OFFERED      204

TABLE 164         SGS SA: DEALS  205

TABLE 165         SGS SA: EXPANSIONS    206

TABLE 166         INTERTEK GROUP PLC: COMPANY OVERVIEW 208

TABLE 167         INTERTEK GROUP PLC: SERVICES OFFERED      209

TABLE 168         INTERTEK GROUP PLC: DEALS 211

TABLE 169         INTERTEK GROUP PLC: EXPANSIONS    212

TABLE 170         BUREAU VERITAS: COMPANY OVERVIEW           214

TABLE 171         BUREAU VERITAS: SERVICES OFFERED 215

TABLE 172         BUREAU VERITAS: DEALS          216

TABLE 173         DEKRA: COMPANY OVERVIEW  218

TABLE 174         DEKRA: SERVICES OFFERED      219

TABLE 175         DEKRA: SERVICE LAUNCHES     220

TABLE 176         DEKRA: EXPANSIONS    220

TABLE 177         TÜV NORD GROUP: COMPANY OVERVIEW        222

TABLE 178         TÜV NORD GROUP: SERVICES OFFERED            223

TABLE 179         DNV GL: COMPANY OVERVIEW 225

TABLE 180         DNV GL: SERVICES OFFERED    227

TABLE 181         EUROFINS SCIENTIFIC: COMPANY OVERVIEW  228

TABLE 182         EUROFINS SCIENTIFIC: SERVICES OFFERED      229

TABLE 183         EUROFINS SCIENTIFIC: SERVICE LAUNCHES     230

TABLE 184         EUROFINS SCIENTIFIC: EXPANSIONS    230

TABLE 185         TÜV RHEINLAND: COMPANY OVERVIEW           231

TABLE 186         TÜV RHEINLAND: SERVICES OFFERED  232

TABLE 187         TÜV RHEINLAND: SERVICE LAUNCHES 233

TABLE 188         TÜV RHEINLAND: EXPANSIONS 233

TABLE 189         TÜV SÜD: COMPANY OVERVIEW            234

TABLE 190         TÜV SÜD: SERVICES OFFERED  235

TABLE 191         TÜV SÜD: DEALS           236

TABLE 192         TÜV SÜD: EXPANSIONS 236

LIST OF FIGURES

FIGURE 1           BATTERY TIC MARKET SEGMENTATION            25

FIGURE 2           BATTERY TIC MARKET: RESEARCH DESIGN       29

FIGURE 3           BOTTOM-UP APPROACH           36

FIGURE 4           TOP-DOWN APPROACH             36

FIGURE 5           MARKET SIZE ESTIMATION: DEMAND-SIDE ANALYSIS  37

FIGURE 6           MARKET SIZE ESTIMATION: SUPPLY-SIDE ANALYSIS     38

FIGURE 7           DATA TRIANGULATION             40

FIGURE 8           BATTERY TIC MARKET: GLOBAL SNAPSHOT, 2020–2029 43

FIGURE 9           SAFETY TESTING SEGMENT TO ACCOUNT FOR MAJORITY OF MARKET SHARE THROUGHOUT FORECAST PERIOD     43

FIGURE 10         LITHIUM-ION BATTERIES TO COMMAND BATTERY TIC MARKET THROUGHOUT FORECAST PERIOD    44

FIGURE 11         TESTING SEGMENT TO ACCOUNT FOR LARGEST SHARE OF BATTERY TIC MARKET THROUGHOUT FORECAST PERIOD       44

FIGURE 12         ELECTRIC VEHICLES TO LEAD BATTERY TIC MARKET THROUGHOUT FORECAST PERIOD       45

FIGURE 13         ASIA PACIFIC HELD LARGEST SHARE OF GLOBAL BATTERY TIC MARKET IN 2023     46

FIGURE 14         NEED TO COMPLY WITH STRINGENT REGULATORY REQUIREMENTS AND SAFETY STANDARDS TO DRIVE MARKET 47

FIGURE 15         SAFETY TESTING SEGMENT TO HOLD LARGEST MARKET SHARE IN 2024  48

FIGURE 16         LITHIUM-ION SEGMENT TO ACCOUNT FOR LARGEST SHARE OF BATTERY TIC MARKET IN 2024         48

FIGURE 17         TESTING SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2024      49

FIGURE 18         ELECTRIC VEHICLES (EVS) SEGMENT TO ACCOUNT FOR LARGEST SHARE OF BATTERY TIC MARKET IN 2024       49

FIGURE 19         LITHIUM-ION BATTERIES AND CHINA HELD LARGEST SHARE OF ASIA PACIFIC MARKET IN 2023          50

FIGURE 20         BATTERY TIC MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES    52

FIGURE 21         GLOBAL ELECTRIC VEHICLE SALES, 2021–2023 (MILLION UNITS) 53

FIGURE 22         IMPACT ANALYSIS: DRIVERS     56

FIGURE 23         IMPACT ANALYSIS: RESTRAINTS            58

FIGURE 24         IMPACT ANALYSIS: OPPORTUNITIES    60

FIGURE 25         IMPACT ANALYSIS: CHALLENGES          62

FIGURE 26         TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES              62

FIGURE 27         INDICATIVE PRICING TREND OF BATTERY CERTIFICATIONS (USD)   63

FIGURE 28         INDICATIVE PRICING TREND OF IEC BATTERY CERTIFICATIONS, BY REGION,

2021–2023 (USD)             64

FIGURE 29         SUPPLY CHAIN ANALYSIS          65

FIGURE 30         BATTERY TIC ECOSYSTEM        66

FIGURE 31         INVESTMENT AND FUNDING SCENARIO, EV BATTERIES              68

FIGURE 32         PATENTS APPLIED AND GRANTED, 2014–2023   70

FIGURE 33         EXPORT DATA FOR HS CODE 8507-COMPLIANT PRODUCTS, BY COUNTRY,

2019–2023 (USD MILLION)          73

FIGURE 34         IMPORT DATA FOR HS CODE 8507-COMPLIANT PRODUCTS, BY COUNTRY,

2019–2023          74

FIGURE 35         BATTERY TIC MARKET: PORTER’S FIVE FORCES ANALYSIS              81

FIGURE 36         PORTER’S FIVE FORCES: WEIGHTED AVERAGE 82

FIGURE 37         INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS      84

FIGURE 38         KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS              85

FIGURE 39         SAFETY TESTING TO ACCOUNT FOR LARGEST SHARE OF BATTERY TIC MARKET,

BY STANDARD AND CERTIFICATION TYPE, IN 2029        89

FIGURE 40         LITHIUM-ION SEGMENT TO LEAD BATTERY TIC MARKET THROUGHOUT FORECAST PERIOD       97

FIGURE 41         ELECTRIC VEHICLES (EVS) SEGMENT TO COMMAND TIC MARKET FOR LITHIUM-ION BATTERIES FROM 2024 TO 2029      99

FIGURE 42         ICE VEHICLES TO ACCOUNT FOR LARGEST SHARE OF LEAD–ACID BATTERY TIC MARKET IN 2029     105

FIGURE 43         ELECTRIC VEHICLES (EVS) SEGMENT TO CAPTURE LARGEST SHARE OF

NICKEL–METAL HYDRIDE TIC MARKET IN 2029 110

FIGURE 44         INDUSTRIAL EQUIPMENT APPLICATIONS TO HOLD LARGEST MARKET SHARE FOR OTHER BATTERY TYPES IN 2029   116

FIGURE 45         ELECTRIC VEHICLES (EVS) SEGMENT TO DOMINATE BATTERY TIC MARKET THROUGHOUT FORECAST PERIOD       122

FIGURE 46         LITHIUM-ION BATTERIES TO ACCOUNT FOR LARGEST MARKET SHARE FOR EVS

IN 2029 125

FIGURE 47         LEAD–ACID BATTERIES TO CAPTURE MOST SIGNIFICANT MARKET SHARE FOR INDUSTRIAL EQUIPMENT APPLICATIONS THROUGHOUT FORECAST PERIOD       129

FIGURE 48         TESTING SERVICES TO ACCOUNT FOR LARGEST MARKET SHARE THROUGHOUT FORECAST PERIOD        134

FIGURE 49         GERMANY TO REGISTER HIGHEST CAGR IN GLOBAL BATTERY TIC MARKET DURING FORECAST PERIOD          139

FIGURE 50         NORTH AMERICA: BATTERY TIC MARKET SNAPSHOT   141

FIGURE 51         EUROPE: BATTERY TIC MARKET SNAPSHOT     147

FIGURE 52         ASIA PACIFIC: BATTERY TIC MARKET SNAPSHOT          154

FIGURE 53         BATTERY TIC MARKET SHARE ANALYSIS, 2023  168

FIGURE 54         COMPANY VALUATION, 2024 (USD BILLION)     170

FIGURE 55         FINANCIAL METRICS, 2024         171

FIGURE 56         BRAND/PRODUCT COMPARISON          172

FIGURE 57         REVENUE ANALYSIS OF FIVE KEY PLAYERS, 2021–2023 (USD BILLION)           173

FIGURE 58         BATTERY TIC MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023 174

FIGURE 59         BATTERY TIC MARKET: COMPANY FOOTPRINT             175

FIGURE 60         BATTERY TIC MARKET: COMPANY EVALUATION MATRIX (START-UPS/SMES), 2023           182

FIGURE 61         SGS SA: COMPANY SNAPSHOT  204

FIGURE 62         INTERTEK GROUP PLC: COMPANY SNAPSHOT 209

FIGURE 63         BUREAU VERITAS: COMPANY SNAPSHOT          215

FIGURE 64         DEKRA: COMPANY SNAPSHOT 219

FIGURE 65         TÜV NORD GROUP: COMPANY SNAPSHOT        223

FIGURE 66         DNV GL: COMPANY SNAPSHOT 226

FIGURE 67         EUROFINS SCIENTIFIC: COMPANY SNAPSHOT  229

FIGURE 68         TÜV RHEINLAND: COMPANY SNAPSHOT           232

FIGURE 69         TÜV SÜD: COMPANY SNAPSHOT           235