Electric Vehicle (EV) Test Equipment Market
Global Electric Vehicle (EV) Test Equipment Market Size, Share & Trends Analysis Report by Vehicle Type (Passenger Vehicle, and Commercial Vehicle), by Propulsion Type (Battery Electric Vehicle (BEV), and Hybrid Electric Vehicle (HEV)), and by Application (EV Component And Drivetrain System, EV Charging, and Powertrain) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
The global electric vehicle (EV) test equipment market is anticipated to grow at an exponential CAGR of 22.3% during the forecast period. One of the major factors that are fueling the market is the growing demand for electric vehicles in the market. The growing awareness about the environment, the importance of electrification of vehicles, and the rising fuel prices have increased the demand for electric vehicles in the past few years, which has also increased the demand for EV test equipment which is necessary for checking the functioning of the vehicle, and its components. These are highly used in the manufacturing and servicing of the vehicle. For instance, as per the data of the International Energy Agency (IEA) 2020, the sales of EV cars increased by more than 40% as compared to the sales of EV cars in 2019.
Impact of COVID-19 Pandemic on Global Electric Vehicle (EV) Test Equipment Market
COVID-19 pandemic had impacted most the industries including the global automotive industry significantly owning to the lockdown in most the nations to control the spread of the virus. It affected the overall demand for vehicles in the market. As the restriction was implemented the production, and supply chain got disturbed which declined the market in the initial months of the pandemic. However, the electric vehicle market showed exponential growth as the market normalized. As per the data of the International Energy Agency (IEA) 2020, electric car sales reached 2,977,058 vehicle units globally which is 40.8% more than the sales of electric cars in 2019.
Segmental Outlook
The global electric vehicle (EV) test equipment market is segmented based on the vehicle type, propulsion type, and application. Based on the vehicle type, the market is segmented into passenger vehicles and commercial vehicles. Based on the propulsion type, the market is segmented into battery electric vehicles (BEV), and hybrid electric vehicles (HEV). Based on the application, the market is sub-segmented into the EV component and drivetrain system, EV charging, and powertrain. The above-mentioned segments can be customized as per the requirements. Based on propulsion type, battery electric vehicle is anticipated to grow at the fastest rate in the market owing to the high demand for BEV in the market while based on vehicle type, passenger vehicle holds the prominent share during the forecast period due to the high usability, and a large number of consumers across the globe.
Global Electric Vehicle (EV) Test Equipment Market Share by Propulsion Type, 2021 (%)
The Battery Electric Vehicle Segment Anticipated to Grow Fastest in the Global Electric Vehicle (EV) Test Equipment Market
The battery-electric vehicle segment is estimated to grow at the fastest rate in the market during the forecast period attributed to their simplicity and cheaper after-sale expanses. Other than BEV, both hybrids, HEV, and PHEV are much more complex as compared to the BEV since it relies on two power sources, which require much more maintenance, and consumes fuel as well which makes it much more expansive. As per the data of IEA 2020, out of total electric cars, 3,346,713 electric vehicles are hybrid while 6,850,327 vehicles are battery electric. Thus the demand for EV test equipment is higher in the battery EV segment.
Regional Outlooks
The global electric vehicle (EV) test equipment market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. The Asia-Pacific region is estimated to hold the prominent share in the market followed by Europe, and North America during the forecast period owing to the presence of emerging countries such as China which alone holds more than 40% of the global EV shares as per IEA report 2020.
Global Electric Vehicle (EV) Test Equipment Market Growth, by Region 2022-2028
The Asia-Pacific Region Anticipated to Hold the Prominent Share in the Global Electric Vehicle (EV) Test Equipment Market
Asia Pacific region is projected to hold a prominent share in the electric vehicle test equipment market globally owing to the presence of emerging countries such as China, India, Japan, South Korea, and others. The region is the most populous and has major vehicle market players such as Toyota, Honda, Nio, Tata, and others. This has increased the sales of electric vehicles in the region exponentially and has great future potential for future electric vehicle sales, which has increased the demand for EV test equipment for manufacturing, and services of vehicle components. As per the data of IEA 2020, out of the total EV car stock of 10,228,265 units, China has 4,514,114 EV car stocks which are more than 44% of the total EV car stocks.
Market Players Outlook
The major companies serving the global electric vehicle (EV) test equipment market include AVL group, Chroma ATE Inc., HORIBA, Ltd., teamtechnik Maschinen und Anlagen GmbH, TÜV Rheinland Group, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2020, HORIBA announced their new ADS EVO, an automatic driving system, which performs as a driving robot for testing vehicles. It supports checking the vehicle before moving out of the manufacturing plant to find any fault in the vehicle.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global electric vehicle (EV) test equipment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Electric Vehicle (EV) Test Equipment Market
• Recovery Scenario of Global Electric Vehicle (EV) Test Equipment Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. AVL group
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Chroma ATE Inc.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. HORIBA, Ltd.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. teamtechnik Maschinen und Anlagen GmbH
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. TÜV Rheinland Group
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Segmentation
4.1. Global Electric Vehicle (EV) Test Equipment Market by Vehicle Type
4.1.1. Passenger Vehicle
4.1.2. Commercial Vehicle
4.2. Global Electric Vehicle (EV) Test Equipment Market by Propulsion Type
4.2.1. Battery Electric Vehicle (BEV)
4.2.2. Hybrid Electric Vehicle (HEV)
4.3. Global Electric Vehicle (EV) Test Equipment Market by Application
4.3.1. EV Component and Drivetrain System
4.3.2. EV Charging
4.3.3. Powertrain
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. ABB Ltd
6.2. Arbin Instruments
6.3. ATESTEO GmbH & Co. KG
6.4. Blum-Novotest Ltd.
6.5. Burke Porter Group
6.6. Dewesoft d.o.o.
6.7. FEV Group GmbH
6.8. KUKA Aktiengesellschaft ZF
6.9. Friedrichshafen AG
1. GLOBAL ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
2. GLOBAL PASSENGER ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL COMMERCIAL ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY PROPULSION TYPE, 2021-2028 ($ MILLION)
5. GLOBAL BATTERY ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL HYBRID ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
8. GLOBAL ELECTRIC VEHICLE (EV) COMPONENT AND DRIVETRAIN SYSTEM TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL ELECTRIC VEHICLE (EV) CHARGING TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL ELECTRIC VEHICLE (EV) POWERTRAIN TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
12. NORTH AMERICAN ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
13. NORTH AMERICAN ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
14. NORTH AMERICAN ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY PROPULSION TYPE, 2021-2028 ($ MILLION)
15. NORTH AMERICAN ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
16. EUROPEAN ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
17. EUROPEAN ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
18. EUROPEAN ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY PROPULSION TYPE, 2021-2028 ($ MILLION)
19. EUROPEAN ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
20. ASIA-PACIFIC ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
21. ASIA-PACIFIC ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY PROPULSION TYPE, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
24. REST OF THE WORLD ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
25. REST OF THE WORLD ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
26. REST OF THE WORLD ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY PROPULSION TYPE, 2021-2028 ($ MILLION)
27. REST OF THE WORLD ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET, 2022-2028 (%)
4. GLOBAL ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SHARE BY VEHICLE TYPE, 2021 VS 2028 (%)
5. GLOBAL PASSENGER ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL COMMERCIAL ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SHARE BY PROPULSION TYPE, 2021 VS 2028 (%)
8. GLOBAL BATTERY ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL HYBRID ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
11. GLOBAL ELECTRIC VEHICLE (EV) COMPONENT AND DRIVETRAIN SYSTEM TEST EQUIPMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL ELECTRIC VEHICLE (EV) CHARGING TEST EQUIPMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL ELECTRIC VEHICLE (EV) POWERTRAIN TEST EQUIPMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. US ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
16. CANADA ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
17. UK ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
18. FRANCE ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
19. GERMANY ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
20. ITALY ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
21. SPAIN ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
22. REST OF EUROPE ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
23. INDIA ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
24. CHINA ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
25. JAPAN ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
26. SOUTH KOREA ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
27. REST OF ASIA-PACIFIC ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF THE WORLD ELECTRIC VEHICLE (EV) TEST EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
