Electric Vehicle Test Equipment Market Report 2022: Industry is expected to reach USD 242 Million by 2027 at a CAGR of 25.2%

DUBLIN, June 30, 2022 /PRNewswire/ — The “EV Test Equipment Market by Vehicle Type (Passenger Car and Commercial Vehicle), Electric Vehicle Type (BEV, PHEV, and HEV), Equipment Type, Application Type (EV Component , EV charging and powertrain) and region – “Global Forecast to 2027” report added to from ResearchAndMarkets.com offer.

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The Global EV Testing Equipment Market Size is Expected to Reach $242 million by 2027, based on an estimate $79 million in 2022, at a CAGR of 25.2%. The electric vehicle market has witnessed growth over the past few years due to the growing demand for emission-free vehicles around the world, combined with the rising cost of fuel. Various well-known OEMs have been working on the development of electric vehicles with advanced electronics/electrical components over the past few years.

Due to the rapid development of electric vehicle drivetrain technologies, government initiatives (tax cuts and subsidies) and regulations, passenger and commercial electric vehicles have seen high demand. OEMs offer a wide range of electric vehicles, from small hatchbacks such as the Leaf to high-end sedans such as the Tesla Model 3. The wide range of products offered has attracted a large number of consumers, which has led to a increase in the market for electric vehicles.

These investments and policies are expected to help drive electric vehicle sales over the next decade. Commercial and passenger vehicles and their integrated components require extensive testing before being introduced to the consumer market.

Electric vehicle testing is important and necessary during the development, validation, production and post-production stages of electric vehicles. Some of the essential tests are electric motor tests, battery tests, inverter tests, motor tests, transmission tests, and axle tests. Tests vary based on various parameters and vehicle specifications.

The demand for passenger electric vehicles is significantly higher than for commercial vehicles, resulting in higher demand for test equipment in passenger electric vehicles. Due to this high demand, many companies are offering passenger electric vehicle or hybrid electric passenger vehicle testing services at a viable cost.

China should be the largest market in Asia Pacific Region

The Asia-Pacific electric vehicle test equipment market is expected to grow at a high rate. China dominates the market due to aggressive government policies aimed at increasing the acceptance of electric vehicles and the increasing number of electric vehicles, electric vehicle testing related companies and electric vehicle testing service providers in the country. The market for EV test equipment in China is growing at a high rate due to the incentives offered by the government through subsidies for the use of electric vehicles. China focuses on increasing electric vehicles to combat rising emissions in the country.

The Chinese government provides significant subsidies for the electrification of vehicles, which, in turn, has increased sales of electric vehicle charging stations in the country. The proposed subsidies relate to pure and hybrid electric vehicles and refueling equipment. Over the years, the cost of battery has been decreasing which has led to the growth of the market for China. The government also provides subsidies to companies for the construction of charging facilities.

The EV drivetrain testing segment is expected to witness significant growth in the equipment segment over the forecast period.

The electric vehicle transmission system consists of the main inverter, a battery management system, an on-board charger, an auxiliary inverter and an HC-LC DC-DC converter. Electric vehicle transmission test equipment is used to test transmission using simulation for electric vehicles in various environments.

Asia Pacific is expected to be the largest market for the powertrain segment during the forecast period

The powertrain segment includes engine dynamometers, chassis dynamometers, transmission dynamometers and fuel injection pump testers. These test systems are used for HEVs and EVs depending on specifications and applications. Asia Pacific is expected to be the largest market for the powertrain segment over the forecast period owing to the growing demand for advanced powertrain technologies in HEVs in the region.
Main topics covered:

1. Introduction

2 Research methodology

3 Executive summary

4 premium previews
4.1 Increase in demand for efficient and low-emission travel to drive the market
4.2 Bev Segment Expected to Register Higher CAGR during the Forecast Period
4.3 Passenger Car Segment is Expected to Dominate the Market Over the Forecast Period
4.4 Battery Testing Equipment Segment Expected to Lead the Market During Forecast Period
The 4.5 Ev load segment is expected to register the highest CAGR during the forecast period

5 Market Overview
5.1 Presentation
5.2 Market Dynamics
5.2.1 Drivers Rise in sales of electric, semi-autonomous and autonomous vehicles Advances in battery technology Increasing electronic architecture in modern vehicles Drop in electric battery prices
5.2.2 Constraints High Cost of Advanced Technology Equipment Subsidy reductions for electric vehicles in major markets Lack of trained manpower for advanced test equipment
5.2.3 Opportunities Progress in EV charging solutions Technological advances in test equipment Evaluation of real-time Ev data and simulation tests Growing Demand for On-Board Diagnostic Tools
5.2.4 Challenges Lack of compatibility and standardization Maintaining the balance between high cost and test equipment performance

6 Ev Testing Equipment Market, By Vehicle Type

7 Ev Testing Equipment Market, By Equipment Type

8 Ev Testing Equipment Market, By Type of Application

9 Ev Testing Equipment Market, By Electric Vehicle Type

10 Ev Testing Equipment Market, By Region

11 Competitive landscape

Companies cited

For more information about this report visit https://www.researchandmarkets.com/r/dlxzv

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