Publication Month: May 2022 | Report Code: TIPRE00020871 | No. of Pages: 180 | Category: Automotive and Transportation | Status: Published
EV test equipment is used to inspect various EV components such as batteries, motors, and other components to keep automotive parts ahead of the competition, provide guaranteed performance, and ensure customer safety and satisfaction. The test equipment is used in electric vehicles to assess the total vehicle performance, EV battery and charger testing, power electronics testing, and motor and dynamometer testing. Motor testing equipment is used to verify torque or electric signal and the high speed of an electric car, using sensors, voltage probes, and other software.
Electric car sales have been boosted by increased demand for alternative fuel vehicles and connected mobility. To minimize automotive emissions and pollution, several governments have adopted rules that encourage the use of electric vehicles. The EV test equipment market is predicted to develop due to the rising demand for EVs. Moreover, higher voltages allow for faster charging, resulting in the adoption of high-performance batteries, drivetrains, and chargers. As a result, the demand for EV test equipment and software is driven by technological advancements in new battery technologies, increasing demand for electronic functions and features in a vehicle, and stringent emission rules.
According to EV-Volumes.com, 2020 was an excellent year for PHEVs, with global BEV and PHEV sales reaching 3.2 million units. Europe registered 1.4 million electric vehicles in 2020, up 137% from 2019, even after the emergence of the COVID-19 pandemic. This increase was remarkably large for a market that was down by 20% year over year. Furthermore, Europe outperformed China in the EV market for the first time since 2015. Furthermore, many businesses are resuming public transportation services, requiring the implementation of numerous safety measures and standards.
The emergence of new software solutions, such as cloud-based digital solutions for real-time fleet management and acceleration in electrification, is shaping the global EV test equipment market. For instance, the charging management software offered by EVBox enables users to track, manage, and optimize their EV driving experience. Hence to monitor this, AI integrated efficient testing solutions will be in major demand over the forecast period.
|Market Size Value in||US$ 35,072.54 million in 2021|
|Market Size Value by||US$ 118,671.47 million by 2028|
|Growth rate||CAGR of 20.0% from 2022 to 2028.|
|No. of Pages||180|
|No. of Tables||116|
|No. of Charts & Figures||99|
|Historical data available||Yes|
|Segments covered||Vehicle Type, Equipment Type, Application, and End-Users|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The COVID-19 outbreak and the path to recovery have had various impacts on the road networks. There was an increase in the purchase of EV test equipment across Europe in 2020. For instance, Germany, France, and Italy registered 55% higher electric car sales in Europe during the first half of 2020 than in 2019. The growth of the EV test equipment market in Europe is due to the rising need for manufacturers to comply with stricter European Union CO2 standards for new passenger cars and vans from January 2020. Germany–based VDE Institute specializes in science, standardization, product testing, certification, and application consulting. In 2019, The VDE Institute was appointed as a category A, B, and D technical service by the Federal Motor Vehicle Transport Authority, which enables it to perform tests on electric vehicles based on the Highway Traffic Act, the Vehicle Parts Act, and regulations according to the Agreement of the Economic Commission for a United Nations of Europe (ECE regulations). Testing and certification carried out by the VDE Institute ensure trouble-free mobility and data security in the overall system, which includes the charging infrastructure, charging stations, and wall boxes during a product’s early development phase for final approval (validation) tests. The presence of a large EV market, institutions with decades of experience in testing electrical safety, and growing requirements to test the electronic components integrated into the vehicle is propelling the growth of the EV test equipment market in Europe.
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Innovative charging station technologies such as turbo charging, terra HP charging, smart charging systems, wireless power transmission, and bi-directional chargers are being developed by EV charging station firms. Such advancements in electric vehicle charging systems necessitate improved testing techniques. Testing systems for EV charging stations are available from companies including ROLEC, DEKRA, and TUV Rheinland. Smart charging is one of the most advanced charging systems. Smart charging allows for load balancing and proportional distribution of available power capacity across all active charging stations. It also facilitates the collection of critical charging data from various stations using a single cloud-based management platform.
Based on vehicle type, the EV test equipment market is segmented intopassenger car, commercial vehicle, and low speed electric vehicles. In 2021, the passenger car segment accounted for the largest EV test equipment market share.
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Based on equipment type, the EV test equipment market is segmented into battery test equipment, motor test equipment, engine dynamometer, chassis dynamometer, transmission dynamometer, fuel injection pump tester, inverter tester, EV drivetrain test, on-board charger, AC/DC EVSE. In 2021, the battery test equipment segment accounted for the largest EV test equipment market share.
Based on application, the EV test equipment market is segmented into EV Component and Drivetrain systems, EV charging, and Powertrain. In 2021, the powertrain segment accounted for the largest EV test equipment market share.
Based on end-users, the EV test equipment market is segmented into OEMs, Tier 1 Suppliers, Research and Academics, Others. In 2021, the tier 1 suppliers segment accounted for the largest EV test equipment market share.
Market players adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the EV test equipment market forecast. A few developments by major players in the EV test equipment market report are listed below: