Global market for EV testing equipment
Dublin, 29 June 2022 (GLOBE NEWSWIRE) – EV market for EV testing equipment by vehicle type (road cars and commercial vehicles), electric vehicle type (BEV, PHEV & HEV), equipment type, application type (EV component, EV Charge and Drive Report) and region – global forecast to 2027 “is added to ResearchAndMarkets.com’s supply.
The global market for EV testing equipment is projected to reach $ 242 million by 2027, from approximately $ 79 million in 2022, with a CAGR of 25.2%. The electric vehicle market has been growing over the last few years due to growing demand for zero-emission vehicles around the world, combined with rising fuel prices. Various reputable original equipment manufacturers have worked to develop electric vehicles with advanced electronic / electrical components over the past few years.
Due to rapidly evolving EV propulsion technologies, government initiatives (tax rebates and subsidies) and regulations, both passenger and commercial electric vehicles are in high demand. OEMs offer a wide range of electric vehicles, from small hatchbacks like the Leaf to high-end sedans like the Tesla Model 3. The wide range of product offerings has attracted a large number of consumers, leading to an increased market for electric vehicles.
These investments and policies are expected to help increase sales of electric vehicles over the next decade. Commercial and passenger vehicles and their components require in-depth testing before being placed on the market for consumers.
EV testing is important and necessary during the stages of development, validation, production and post-production of electric vehicles. Some of the main tests are motor testing, battery testing, inverter testing, motor testing, transmission testing and axle testing. The tests vary depending on different parameters and specifications of the vehicle.
Demand for passenger electric vehicles is significantly higher than for commercial vehicles, leading to greater demand for passenger electric vehicle testing equipment. Due to this high demand, many companies provide services for testing passenger EV or hybrid passenger EV at an affordable price.
China is expected to be the largest market in the Asia-Pacific region
The market for EV test equipment in the Asia-Pacific region is expected to grow at a high rate. China is leading the market due to aggressive government policies to increase EV acceptance and the growing number of EVs, EV-related companies and EV testing service providers in the country. The market for EV testing equipment in China is growing rapidly due to the incentives offered by the government through subsidies for the use of EV. China is focusing 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 charging stations for electric vehicles in the country. The subsidies offered are for clean and hybrid electric vehicles and delivery equipment. Over the years, the price of the battery has been declining, leading to market growth in China. The government also provides subsidies to companies to build charging facilities.
The EV Drivetrain testing segment is expected to witness significant growth in the equipment segment over the forecast period.
The electric vehicle drive system consists of a main inverter, a battery management system, an on-board charger, an auxiliary inverter and an HC-LC DC-DC converter. Electric vehicle propulsion testing equipment is used to test the transmission using a simulation for electric vehicles in different environments.
The Asia-Pacific region is expected to be the largest market for the power generation 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 HEV and EV depending on specifications and applications. The Asia-Pacific region is expected to be the largest market for the propulsion segment during the forecast period due to the growing demand for modern HEV propulsion technologies in the region.
Main topics covered:
2 Research methodology
4 Premium Insights
4.1 Increasing the demand for efficient and low-emission travel to the driving market
4.2 Bev segment that is expected to register a higher CAGR during the forecast period
4.3 Car segment expected to lead the market during the forecast period
4.4 Battery testing equipment segment expected to be the market leader over the forecast period
4.5 Ev charging segment designed to record the highest CAGR during the forecast period
5 Market overview
5.2 Market dynamics
18.104.22.168 Growing sales of electric, semi-autonomous and autonomous vehicles
22.214.171.124 Advances in battery technology
126.96.36.199 Increasing the electronic architecture in modern vehicles
188.8.131.52 Reduction of the prices of Ev batteries
184.108.40.206 High cost of equipment for modern technologies
220.127.116.11 Reduction of subsidies for Evs in the main markets
18.104.22.168 Lack of trained workforce for advanced test equipment
22.214.171.124 Progress in Ev charging decisions
126.96.36.199 Technological advances in test equipment
188.8.131.52 Real-time Ev data estimation and simulation testing
184.108.40.206 Increasing the demand for on-board diagnostic tools
220.127.116.11 Lack of compatibility and standardization
18.104.22.168 Maintain a balance between high cost and performance of test equipment
Market of 6 Ev testing equipment by vehicle type
7 Ev testing equipment market, by type of equipment
Market of 8 Ev test equipment, by type of application
Market of equipment for testing 9 Ev by type of electric vehicles
Market of 10 Ev test equipment by regions
11 Racing Landscape
The mentioned companies
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