EV Testing Equipment Market by Vehicle Type, Electric Vehicle Type, Equipment Type, Application Type and Region – Global Forecast to 2027

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The global electric vehicle test equipment market size is expected to reach USD 242 million by 2027, from approximately USD 79 million in 2022, growing 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.

New York, June 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “EV Test Equipment Market by Vehicle Type, Electric Vehicle Type, Equipment Type, Application Type and Region – Global Forecast to 2027” – https:/ /www.reportlinker.com/p06042203/?utm_source=GNW
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. For example, GM plans to invest $35 billion to develop and put millions of electric vehicles on the road by 2025. The company plans to go all-electric by 2035. Similarly, Ford plans to increase its electric vehicle production capacity to 600,000 per year by 2023 and aims to make 40% of its portfolio of electric vehicles by 2030. Volkswagen has also invested $86.3 billion to accelerate its vehicle plans electric vehicles by 2030. Other companies like Tesla, Nissan and BMW, among others, have also made significant developments and plan to prepare for the coming demand for electric vehicles in the next 5 to 10 years. 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 providing passenger electric vehicle or hybrid passenger vehicle testing services at a viable cost.

There are also companies that offer commercial electric vehicle testing services. The price of passenger electric vehicle testing is lower than that of commercial electric vehicle testing.

This is because commercial vehicle testing requires high capacity and high quality test equipment compared to passenger electric vehicle test systems. Companies such as Intertek, AVL, TUV Rheinland, Keysight, Dewesoft, HORIBA, SGS, National Instruments, Softing AG, Durr Group and Arbin Instruments provide electric vehicle testing equipment and services.

China is expected to be the largest market in the Asia-Pacific region
The Asia-Pacific electric vehicle test equipment market is expected to grow at a high rate. .

The electric vehicle test equipment market 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 is focusing on increasing electric vehicles to combat rising emissions in the country.

The Chinese government provides significant subsidies for vehicle electrification, which, in turn, has increased sales of electric vehicle charging stations in the country. The proposed grants relate to pure and hybrid electric vehicles and power equipment.

Over the years, the cost of the battery has been decreasing, which has led to the growth of the market in 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 transmission system in electric vehicles 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 the transmission using simulation for electric vehicles in various environments.

The transmission system supports various tests such as BEV and HEV performance, durability and efficiency ratings. for electric vehicles.

They provide test equipment and solutions to the best OEMs for electric vehicle testing.

Asia-Pacific is expected to be the largest market in powertrain segment over 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. Japan and South Korea are among the main markets for HEVs and OEMs such as Toyota. , Honda, Hyundai and Kia offer HEVs with innovative technologies.

Thus, the demand for test systems/platforms for these powertrain components is expected to be higher.

In-depth interviews were conducted with CEOs, CMOs, other chief innovation and technology officers, and executives from various key organizations operating in this market.
• By type of company: level I – 36%, level II – 52% and equipment manufacturers – 12%
• By designation: C-level executives – 23%, administrators – 47% and other – 30%
• By region: North America – 33%, Europe – 28%, Rest of the world – 8% and Asia-Pacific – 31%
The electric vehicle test equipment market includes major companies such as AVL (Austria), TUV Rheinland (Germany), Durr Group (Germany), Chroma ATE (Taiwan) and Horiba (Japan).

Research Coverage:
The market study covers the electric vehicle test equipment market size and future growth potential across different segments such as by vehicle type, electric vehicle type, equipment type, application type and region . The study also includes an in-depth competitive analysis of key market players along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Purchasing the Report:
• The report will assist market leaders/new entrants in this market with information on the closest approximations of revenue figures for the overall EV Testing Equipment market and its sub-segments.
• This report will help stakeholders understand the competitive landscape and acquire more information to better position their businesses and plan appropriate go-to-market strategies.
• The report also helps stakeholders understand the pulse of the market and provides them with insights into key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p06042203/?utm_source=GNW

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