EV Testing Equipment Market: Current Analysis and Forecast (2023-2030)

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Emphasis on Component (Dynamometer, Battery Analyzer, Battery Impact Tester, Power Electronic Test Instruments, Battery Simulator, Others (Thermal testing, cycle tester, etc.); Application (EV Chassis Testing, Battery Testing, EV Motor Testing, EV Powertrain Testing, EV Charging Testing); Vehicle Type (Passenger Vehicle, Commercial Vehicle, and Two-Wheeler); and Region/Country

Pages:

145

Table:

48

Figure:

98

Report ID:

UMAU212297

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description

EV Testing Equipment Market
EV Testing Equipment Market

The EV Test Equipment Market was valued at 80 million in the year 2022 and is expected to grow at a steady rate of around 18.76% during the forecast period (2023-2030), owing to the rising electric vehicle adoption and stringent safety policies for the development of electric vehicles. Electric vehicles (EVs) have gained popularity in recent years due to their potential to reduce greenhouse gas emissions and improve air quality. To ensure the safety and performance of these vehicles, electric vehicle testing equipment is essential. Electric vehicle testing equipment refers to devices used to evaluate the performance, functionality, and safety of electric vehicles. These tests cover various aspects, including battery management system (BMS), motor control unit (MCU), powertrain components, braking systems, suspension, and steering. The equipment includes dynamometers, accelerometers, voltage testers, current testers, temperature sensors, and other specialized tools designed specifically for EV testing. Furthermore, ensuring the safety of electric vehicles is crucial, and this requires rigorous testing. Manufacturers must comply with strict safety regulations, which necessitate the use of specialized testing equipment to detect potential hazards and failures. Several manufacturers have set up dedicated test facilities to conduct extensive testing of electric vehicles. These facilities typically feature advanced laboratories, dynamic test cells, and specialized equipment for evaluating various EV subsystems, which is driving up demand for the electric vehicle testing equipment. Furthermore, the development of next-generation battery technologies, such as solid-state batteries and lithium-air batteries, promises to revolutionize the EV sector. These advancements will require specialized testing equipment to evaluate their performance and safety under various conditions. For instance, in June 2023, at a tech briefing, Toyota one of the largest carmakers in the world announced a breakthrough in solid-state battery technology that they are developing, and made a claim that this technological breakthrough could add up to 900 miles of driving range to the electric vehicles. Additionally, the increasing integration of autonomous driving systems into electric vehicles comes with new testing challenges. Where manufacturers need to develop and implement robust testing protocols to ensure the safety and reliability of ADAS, further augmenting the demand for electric vehicle testing equipment.

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Some of the major players operating in the market include Arbin Instruments; Ainuo Instruments Co., Ltd; Chroma ATE Inc.; Caltest Instruments Ltd; iASYS Technology Solutions; ATEQ Canada; Keysight Technologies; NATIONAL INSTRUMENTS CORP; ALL-TEST Pro, LLC; and Sinuo Testing Equipment Co., Limited. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Component, the battery analyzer is expected to grow at a substantial CAGR during the forecast period.”

Based on component, the market is segmented into dynamometer, battery analyzer, battery impact tester, power electronics test equipment, battery simulator, and others (thermal testing, cycle tester, etc.). The above-mentioned components are all an essential testing equipment, for the process of building a safe and more reliable electric vehicle for the consumers. But amongst them also, battery analyzer is one of the most important of all the testing equipment, as a battery is the heart of an electric vehicle, and it becomes crucial to ensure the proper and safe functioning of the battery. The battery analyzer provides detailed information about the battery’s state of charge, voltage, temperature, and health, which helps engineers optimize its performance and longevity. Furthermore, it also allows for accurate monitoring of the battery’s capacity, energy density, and self-discharge rate, which are critical parameters for determining the overall range and efficiency of the EV. Moreover, power electronics test equipment is also an essential tool for testing electric vehicles and provides advantages such as precise measurement of power electronic device performance, such as efficiency, power factor, and distortion. Furthermore, contributes to the development of more efficient and compact power electronic devices, which can lead to weight savings and improved fuel economy.

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“Amongst vehicle type, the passenger electric vehicle segment held the significant share of the market in 2022.”

Based on vehicle type, the market is segmented into passenger vehicles, commercial vehicles, and two-wheelers. The passenger vehicle segment holds a significant share of the market. The increasing popularity of PEVs (passenger electric vehicle) is due to the cost effectiveness and a low total cost of ownership of PEVs. Furthermore, with everyday improving battery technology, batteries are becoming cheaper, safer, lighter, and more reliable, helping increase adoption and boosting consumer sentiments regarding electric vehicles. Additionally, the increasing availability of EVs with increased launches by the manufacturers, has made them more visible in the public consciousness, further contributing to their growing popularity and adding up to the already hyped PEVs demand.

EV Test Equipment Market Report Coverage

EV Testing Equipment Market
EV Testing Equipment Market

“Asia-Pacific to lead the growth in the electric vehicle testing equipment segment during the forecasted period (2022-2030).”

Asia-Pacific catered to a significant share of the electric vehicle testing equipment market in 2022. The region has witnessed a considerable rise in the uptake of Electric Vehicles (EVs) due to the growing awareness of environmental sustainability and the implementation of strict emissions regulations. Nations such as China, Japan, South Korea, and India have taken progressive strides to promote the use of EVs, leading to a heightened requirement for efficient and convenient testing solutions. Moreover, there is a remarkable upsurge in investments and funding allocated towards the development and commercialization of electric vehicles in the region. Governments and private organizations have identified the potential for electric vehicles and their infrastructure related investments to facilitate the extensive usage of EVs, resulting in a substantial influx of resources to invigorate their growth. To demonstrate, in March 2020, the Japanese government announced a plan to install 20,000 fast-charging stations across the country with a budget of JPY 40 billion (approximately USD 360 million) by 2025. Not only does this kind of initiative intensify the demand for electric vehicles, but also sharpens the demand for electric vehicles testing equipment.

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  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
  • The report presents a quick review of overall industry performance at one glance.
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
  • The study comprehensively covers the market across different segments.
  • Deep dive regional level analysis of the industry.


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The global EV test equipment market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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1.1.Market Definitions
1.2.Main Objective
1.3.Stakeholders
1.4.Limitation
2.1.Research Process of the EV Test Equipment Market
2.2.Research Methodology of the EV Test Equipment Market
2.3.Respondent Profile  
3MARKET SYNOPSIS
4EXECUTIVE SUMMARY
5IMPACT OF COVID-19 ON THE EV TEST EQUIPMENT MARKET
6EV TEST EQUIPMENT MARKET REVENUE (USD BN), 2020-2030F
7.1.Dynamometer 
7.2.Battery Analyzer 
7.3.Battery Impact Tester
7.4.Power Electronic Test Instruments
7.5.Battery Simulator 
7.6.Others (Thermal testing, cycle tester, etc)
8.1.EV Chassis Testing 
8.2.Battery Testing 
8.3.EV Motor Testing 
8.4.EV Powertrain Testing
8.5.EV Charging Testing 
9.1.Passenger Vehicle  
9.2.Commercial Vehicle 
9.3.Two-Wheelers 
10.1.North America   
 10.1.1.The U.S. 
 10.1.2.Canada 
 10.1.3.Rest of North America
10.2.Europe   
 10.2.1.Germany 
 10.2.2.The U.K. 
 10.2.3.France 
 10.2.4.Italy 
 10.2.5.Spain 
 10.2.6.Rest of Europe
10.3.Asia-Pacific  
 10.3.1.China 
 10.3.2.India 
 10.3.3.Japan 
 10.3.4.South Korea
 10.3.5.Rest of Asia-Pacific
10.4.Rest of the World  
11.1.Market Drivers 
11.2.Market Challenges 
11.3.Impact Analysis 
12EV TEST EQUIPMENT MARKET OPPORTUNITIES
13EV TEST EQUIPMENT MARKET TRENDS
14.1.Demand Side Analysis
14.2.Supply Side Analysis
15VALUE CHAIN ANALYSIS
16.1.Competitive Landscape
 16.1.1.Porters Fiver Forces Analysis
17.1.Arbin Instruments  
17.2.Ainuo Instruments Co., Ltd 
17.3.Chroma ATE Inc.  
17.4.Caltest Instruments Ltd 
17.5.iASYS Technology Solutions 
17.6.ATEQ Canada  
17.7.Keysight Technologies 
17.8.NATIONAL INSTRUMENTS CORP
17.9.ALL-TEST Pro, LLC  
17.10.Sinuo Testing Equipment Co., Limited
18DISCLAIMER

Research Methodology

Research Methodology for the EV Test Equipment Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global EV test equipment market were the three major steps undertaken to create and analyze the adoption of EV test equipment in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global EV test equipment market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the EV test equipment market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the EV test equipment market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as voltage, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the EV Test Equipment market. Further, we conducted factor analysis using dependent and independent variables such as component, application, and vehicle type of the EV test equipment market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the EV test equipment market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global EV Test Equipment market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of revenue (USD) and the adoption rate of the EV test equipment market across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the global EV test equipment market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

EV Testing Equipment Market
EV Testing Equipment Market

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global EV test equipment market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the voltage, application, and end-user in the global EV test equipment market.

The main objective of the Global EV Test Equipment Market Study

The current & future market trends of the global EV test equipment market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the EV test equipment market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
  • Segments in the study include areas of the component, application, and vehicle type.
  • Define and analysis of the regulatory framework for the EV test equipment
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the EV test equipment market for the major region
  • Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
  • Company profiles of the EV test equipment market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
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