Report : Europe EV Testing Equipment Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – Vehicle Type (Passenger Car, Commercial Vehicle, and Low Speed Electric Vehicles), Equipment Type (Battery Test Equipment, Motor Test Equipment, Engine Dynamometer, Chassis Dynamometer, Transmission Dynamometer, Fuel Injection Pump Tester, Inverter Tester, EV Drivetrain Test, On-Board Charger, and AC/DC EVSE), Application (EV Component and Drivetrain System, EV charging, and Powertrain), and End Users (OEMs, Tier 1 Suppliers, Research and Academics, and Others)
At 19.3% CAGR, the Europe EV Testing Equipment Market is speculated to be worth US$ 24,921.01 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe EV testing equipment market was valued at US$ 7,636.78 million in 2021 and is expected to reach US$ 24,921.01 million by 2028, registering an annual growth rate of 19.3% from 2021 to 2028. Extending production and sales of evs and raising integration of new technologies.
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. Furthermore, peak shaving is a technique for preventing unnecessary costs by lowering or interrupting a charging session if the power consumption exceeds a certain threshold. Validation through testing equipment is essential to assure the proper operation of such sophisticated charging systems. As a result, rising R&D in charging stations is likely to boost demand for EV test equipment.
On the contrary, excessive cost of EV testing equipment hurdles the growth of Europe EV testing equipment market.
Based on vehicle type, the Europe EV testing equipment market is segment into passenger car, commercial vehicle, and low speed electric vehicles. The passenger car segment held 59.0% market share in 2021, amassing US$ 4,509.51 million. It is projected to garner US$ 15,302.48 million by 2028 to expand at 20.0% CAGR during 2021–2028.
Based on equipment type, the Europe EV testing 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. The battery test equipment segment held 21.0% market share in 2021, amassing US$ 1,601.49 million. It is projected to garner US$ 5,818.37 million by 2028 to expand at 21.2% CAGR during 2021–2028.
Based on application, the Europe EV testing equipment market is categorised into EV component and drivetrain system, EV charging, and powertrain. The powertrain segment held 50.2% market share in 2021, amassing US$ 3,834.11 million. It is projected to garner US$ 12,362.81 million by 2028 to expand at 19.1% CAGR during 2021–2028.
Based on End Users, the Europe EV testing equipment market is categorised into OEMs, tier 1 suppliers, research and academics, and others. The tier 1 suppliers segment held 45.3% market share in 2021, amassing US$ 3,456.84 million. It is projected to garner US$ 11,132.03 million by 2028 to expand at 19.1% CAGR during 2021–2028
Based on country, the Europe EV testing equipment market has been segmented into Germany, France, Italy, the UK, Russia, and Rest of Europe. Our regional analysis states that Germany captured 53.8% market share in 2021. It was assessed at US$ 4,109.34 million in 2021 and is likely to hit US$ 13,955.76 million by 2028, exhibiting a CAGR of 20.0% during the forecast period.
Key players dominating the Europe EV testing equipment market are National Instruments Corporation; Horiba Ltd.; Arbin Instruments; Maccor Inc.; Keysight Technologies, Inc.; Froude, Inc.; Comemso electronics GmbH; Durr Group; Tüv Rheinland; Intertek Group Plc.; Toyo system co., ltd.; and Toyo System Co., Ltd. among others.
- In November 2021, Keysight Technologies, Inc. and Proventia Oy have teamed together to develop battery test solutions for electric vehicles (EVs). The partnership between Keysight and Proventia results in a location-independent, safe test facility that can be implemented quickly.
In December 2020, Machine and system builder Durr acquired a 75% stake in Teamtechnik. This acquisition also brings in a significant contract with one of the world’s largest e-mobility OEMs to provide test benches for electric drives..
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