NEW
YORK, June 27, 2024 /PRNewswire/ -- The global
electric vehicle test equipment market size is estimated to grow by
USD 212.5 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 30.08% during the forecast period. Growing EV
automotive industry is driving market growth, with a trend towards
emergence of digital testing. However, lack of appropriate
skillsets for testing poses a challenge. Key market players
include 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.
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Electric Vehicle
Test Equipment Market Scope
|
Report
Coverage
|
Details
|
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 2022-2023
(%)
|
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
|
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 Driver
Digital advancements are revolutionizing Electric Vehicle (EV)
testing. Providers of EV test equipment are adopting innovative
technologies, like virtual testing platforms, to enhance their
services. Physical inspections are being supplanted by digital
ones. For instance, Volkswagen Group collaborated with Red Hat in
April 2021 to implement a virtual
testing system for its electric research and development
department. This system facilitates testing and adjustment of
electronic control units (ECUs) and advances intelligent, connected
vehicle technologies. The implementation of such systems is
anticipated to boost demand for EV test equipment, contributing to
market growth during the forecast period.
The Consumer market for Electric Vehicle (EV) Test Equipment is
experiencing significant growth. Vehicles, charging infrastructure,
batteries, and components require testing to ensure vehicle
performance and safety. Passive and active testing methods are
used. Vehsicles undergo functional testing, such as battery
testing, charging system testing, and vehicle dynamics testing.
Charging infrastructure is tested for compatibility and safety.
Components like batteries and motors are tested for efficiency and
durability. The market includes companies providing testing
services and manufacturers of testing equipment. Battery
technology, charging infrastructure advancements, and government
regulations drive market trends. The future of EV testing lies in
advanced testing techniques and integration of AI and IoT in
testing processes.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The Electric Vehicle (EV) Test Equipment Market requires
skilled operators to extract accurate information and control
variables for reliable and comparable test results. A deep
understanding of EV testing procedures, drive cycles, and
powertrain systems is essential. Operators must have experience
with motor development testbeds and provide technical support.
Inaccurate measurement can result from a lack of EV-specific
skills, which the market may face due to a projected shortage of
EV-trained technicians by 2027. This skill shortage could
negatively impact the EV Test Equipment Market during the forecast
period.
- The Electric Vehicle (EV) Test Equipment Market faces several
challenges. These include the need for advanced technology to test
the complex systems of EVs, such as batteries and charging
infrastructure. Additionally, the rapid advancement of EV
technology requires frequent updates to testing equipment.
Furthermore, ensuring safety and compliance with regulations adds
to the complexity of the testing process. Cost-effectiveness and
efficiency are also crucial factors, as testing can be
time-consuming and expensive. Finally, interoperability between
different EV models and charging stations poses a significant
challenge for test equipment providers.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This electric vehicle test equipment market report extensively
covers market segmentation by
- Vehicle Type
- 1.1 Hybrid electric vehicles
- 1.2 Battery electric vehicles
- 1.3 Plug-in hybrid electric vehicles
- Application
- 2.1 EV component
- 2.2 EV charging
- 2.3 Powertrain
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Hybrid electric vehicles- The hybrid electric
vehicles (HEVs) segment led the market in terms of size in 2022,
driven by increasing production and new model launches. Major
automakers, including Volkswagen and Geely Holdings Group, are
ramping up HEV production, leading to heightened demand for HEV
test equipment. This demand is expected to persist during the
forecast period due to the growing popularity of HEVs and the
development of joint ventures. Consequently, the market for HEV
test equipment will expand significantly.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Electric Vehicle (EV) Test Equipment Market is experiencing
significant growth due to the increasing demand for emission-free
substitutes in the automotive sector. This market caters to the
testing requirements of Electric Vehicles (EVs) and Zero-Emission
Vehicles (ZEVs), focusing on components such as EV batteries,
chargers, power electronics, motors, and dynamometers. The testing
of these components ensures vehicle performance, efficiency, and
emission levels. Motor testing equipment measures torque and
electric signals to evaluate motor performance. Power electronics
testing assesses the efficiency and reliability of power conversion
systems. Copper, a crucial component in EV batteries and wiring, is
also subjected to rigorous testing to ensure optimal performance
and safety. Overall, the EV Test Equipment Market plays a vital
role in the electrification of vehicles by ensuring the quality and
reliability of EV components.
Market Research Overview
The Electric Vehicle (EV) Test Equipment Market encompasses a
range of instruments and systems utilized for the testing,
validation, and certification of electric vehicles (EVs) and their
components. These tools ensure the performance, safety, and
compliance of EVs with industry standards and regulations. The
market includes various types of test equipment such as battery
testing equipment, charging infrastructure testing equipment, motor
and power electronics testing equipment, and vehicle dynamics
testing equipment. The EV Test Equipment Market is driven by the
increasing adoption of electric vehicles, stringent regulations,
and the need for efficient and reliable testing solutions. The
market is expected to grow significantly in the coming years due to
the increasing focus on reducing carbon emissions and the
development of advanced testing technologies.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Vehicle Type
-
- Hybrid Electric Vehicles
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicles
- Application
-
- EV Component
- EV Charging
- Powertrain
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio