Enjoy complimentary customisation on priority with our Enterprise License!
The Electric Vehicle Test Equipment Market size is estimated to grow by USD 212.5 million, at a CAGR of 30.08% between 2023 and 2028. The Market is experiencing significant growth, driven by the burgeoning EV automotive industry. This sector's expansion is fueled by increasing consumer preference for eco-friendly transportation solutions and government initiatives to reduce carbon emissions. Moreover, the market is propelled forward by technological advancements, including the development of sophisticated testing tools for battery management systems, charging infrastructure, and vehicle performance evaluation. These innovations enable manufacturers to ensure the quality and safety of EVs, thereby bolstering market growth. Consequently, the Market is expected for substantial expansion in the coming years.
To learn more about this report, View Sample PDF
The market is pivotal in addressing the environmental concerns associated with traditional petroleum-fuel vehicles. As Automotive Original Equipment Manufacturers (OEMs) transition towards electrification, the demand for advanced testing solutions has surged. Lithium-ion batteries, key to EV propulsion, are subject to rigorous evaluation, alongside battery chemistry exploration, including lead-acid variants. Technological innovations extend to fuel-efficient technologies, necessitating precise vehicle testing equipment like chassis dynamometers and motor testing devices. Government support, exemplified by initiatives from the Canadian government, bolsters the development of battery-operated cars and EV charging infrastructure.
Increasing government support is a major factor driving the electric vehicle test market. Oil dependency, climate change, and clean air are the most crucial factors for different governments across the world to promote EVs among consumers. Governments across the globe are presenting monetary benefits to consumers to support the adoption of EVs further. Below are some of the incentives and benefits provided by various regional governments to support EV adoption: In February 2019, the Indian government announced the second phase of the Faster Adoption and Manufacturing of (Hybrid) EVs in India (FAME India) scheme (will continue till March 2024). It doubled the budget allocated for the second phase. This scheme aims to reduce the purchase price of hybrids and EVs, with a focus on off-road vehicles used for public or shared transportation (buses, rickshaws, and taxis) and private two-wheelers.
For instance, in 2022, China announced the extension of its decade-long central subsidy program for NEVs till 2023. The policy developments also include restricting investment in new internal combustion engine (ICE) vehicle manufacturing plants. The Chinese government has stipulated the use of differentiated incentives for vehicles based on their battery characteristics, such as zero-emission vehicles, credits, and subsidies under the new energy vehicle mandate. These factors are driving the electric vehicle (EV) test equipment market during the forecast period.
The emergence of digital testing is a primary trend in the market. The advent of digital technologies is bringing major changes to the EVs testing. Many EV test equipment providers are harnessing cutting-edge technologies, such as a virtual testing platform, to transform their service offerings. Physical inspection of vehicles is widely being replaced by digital inspection.
For instance, Volkswagen (VW) Group, in April 2021, collaborated with Red Hat to deploy a virtual testing system for its electric research and development department. The department uses the system to test and adjust electronic control units (ECUs) along with enhancing the technologies that support intelligent, connected vehicles. Such developments are expected to propel the demand for EV test equipment, which will provide growth to the market in focus during the forecast period.
Lack of appropriate skillsets for testing is a major market challenge. Correctly extracting information from an EV testing system is crucial, even with the most suitable setup. A lack of knowledge in this area can lead to errors and inaccurate results. To avoid this, the testing system operator must have a deep understanding of EV testing procedures, drive cycles, and system functioning.
Moreover, they must also be capable of data acquisition, processing, and making independent judgments. A wrong selection of operators can result in measurement inaccuracies, and the market currently lacks the required skill sets. This may lead to a skill shortage by 2027, affecting the EV industry negatively during the forecast period.
Get a detailed analysis of drivers, trends, and challenges View the Sample PDF now!
The market share growth by the hybrid electric vehicles segment will be significant during the forecast period. The hybrid electric vehicles (HEVs) segment dominated the market in focus by vehicle type in 2022 in terms of market size. It is expected to witness significant growth during the forecast period owing to factors such as the growing popularity of HEVs, increasing production and launching of new models, and increasing complexity due to the combination of an internal combustion engine along with one or more electric motors.
Get a glance at the market contribution of various segments View Sample PDF
The hybrid electric vehicles segment was valued at USD 23.60 million in 2018. As the popularity of HEVs is growing, major automakers are tapping into this opportunity by ramping up production and testing, which in turn increases the demand for EV test equipment. The market in focus will continue to grow during the forecast period due to increasing demand and high production figures. For instance, under its electrification campaign, Volkswagen plans to launch around 60 hybrid models by the end of 2030. Several international automakers are entering into JV with domestic brands to develop and produce numerous HEVs. Thus, the growing number of HEVs development is anticipated to increase the demand for HEVs test equipment for various vehicle components, such as motor and torque performance. This, in turn, will propel the growth of the market focus during the forecast period.
The EV component segment comprises power electronics, fuel injection pump testing, inverter testing, and AC/DC EVSV. The segment's growth is fueled by the rising adoption of EVs, the need for high-performance motors with increased power, and the focus on component efficiency. companies are expanding their testing capacity to keep up with the increasing production of EV components. For example, Intertek expanded its EV testing facility in North America in May 2022. The government's emphasis on ethanol fuel injection in hybrid vehicles to reduce emissions is driving companies to align with flex-fuel injection testing. TUV Rheinland AG offers ethanol tests and assessments in fuel injection pumps for hybrid vehicles. These factors will boost the growth of the EV components segment and, in turn, the electric vehicle (EV) test equipment market during the forecast period.
APAC is estimated to contribute 60% to the growth of the global electric vehicle (EV) test equipment market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions View the Sample PDF now!
Promising economic growth potential in emerging countries (such as China and India) and government initiatives are driving the regional market in focus during the forecast period. While market players are investing in technology to drive innovation in electric vehicles (EVs) testing equipment, players are also expanding production facilities and setting up new facilities to cater to growing regional demand and beyond. These factors are expanding the regional EV test equipment market demand during the forecast period.
Take a quick look at various segments. View the Sample PDF now!
companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the Market. One of the major companies in the market include:
Arbin Instruments- The company offers electric vehicle test equipment that can address the unique usage conditions that these batteries face on the road.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
General Purpose Test Equipment (GPTE) Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, Canada, China, Japan, Germany - Size and Forecast
Automotive Powertrain Testing Services Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Japan, Germany, India - Size and Forecast
Automotive Battery Testers Market Analysis APAC, Europe, North America, South America, Middle East and Africa - China, US, Germany, France, Japan - Size and Forecast
The market is experiencing significant growth, driven by the rapid expansion of the EV automotive industry and increasing government support for emission-free substitutes. Technological advancements, particularly in battery technology such as the lithium-ion family, are also fueling market growth. The market landscape depends on the negative demand shock, interior system, EV battery, charger testing, power electronics testing, motor and dynamometers, motor testing equipment, electric signal. Automotive Original Equipment Manufacturers (OEMs) are increasingly focusing on the electrification of vehicles to address concerns regarding vehicular emissions and comply with stringent emission norms. Pollution remains a critical concern addressed by automotive OEMs through ongoing innovation in vehicle technologies.
Key players in the market are developing innovative test systems and equipment to evaluate battery packs, motor performance, and overall vehicle efficiency. These advancements are particularly crucial for luxury car brands and emerging economies embracing hybrid and electric vehicles. Government initiatives such as tax exemptions and investments in EV charging infrastructure further stimulate market demand. The market landscape depends on the Zinc Air, Nickel Based, Charging Stations, Copper, Automobile Industry, Companies Mentioned, Dynomerk Controls, and Monitoring. However, challenges such as negative demand shocks and the need for advanced safety procedures underscore the importance of comprehensive testing solutions across various segments, including passenger cars, commercial vehicles, and EV charging infrastructure. Overall, the market shows a positive trend driven by consumer spending, technological innovations, and the transition towards sustainable transportation solutions.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
175 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 30.08% |
|
Market growth 2024-2028 |
USD 212.5 million |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
23.21 |
|
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 60% |
|
Key countries |
China, US, Germany, Japan, and France |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Arbin Instruments, ATESTEO GmbH and Co. KG, AVL List GmbH, Chroma ATE Inc., comemso electronics GmbH, Crystal Instruments Corp., Dewesoft d.o.o., Durr AG, FEV Group GmbH, HORIBA Ltd., Keysight Technologies Inc., KUKA AG, Maccor Inc., National Instruments Corp., PCE Holding GmbH, Softing Automotive Electronics GmbH, SureView Instruments, TUV Rheinland AG, Unico LLC, and ZF Friedrichshafen AG |
|
Market dynamics |
Parent market analysis, market forecasting, market growth analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Vehicle Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
