EV Test Equipment Market by 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): Global Market Size Estimates and Forecast (2022-2030)

The market crossed US$ 39.8 billion mark in 2022 and is expected to hit US$ 120.6 billion by 2030, recording a CAGR of 20.0% during the forecast period.

EV Test Equipment market has been significantly growing with the advancements in battery technology.

Growing demand electric vehicles, and advancement in battery technologies, autonomous vehicles (AV) are some of the major factors driving the growth of the EV Test Equipment market. In addition, the technological advancements in EV charging stations and supportive government initiatives for promoting EVs is also expected to boost the EV Test Equipment market growth. The passenger cars segment is expected to hold the largest share in the EV Test Equipment market. Further, commercial vehicles segment is also expected to gain traction during the forecasted year.

Within the report, the EV Test Equipment market is segmented into vehicle type, equipment type, application, and geography. By vehicle type, the EV Test Equipment market is further segmented into passenger car, commercial vehicle, and low speed electric vehicles. By equipment type, the EV Test Equipment market is further 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, and AC/DC EVSE. On the basis of application, the EV Test Equipment market is bifurcated into EV component and drivetrain system, EV charging, and powertrain. Geographically, the EV Test Equipment market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Governments across the world are encouraging the adoption of hybrid and electric vehicles which is enhancing the growth of EV Test Equipment market

Technological advancement in automotive industry has led to development of lightweight hybrid and electric vehicles. In addition, the EVs are environment-friendly and fuel-efficient. Emission norms applied by national and regional government authorities are driving research in fuel-efficient technologies. Thus, the EV test equipment is anticipated to witness higher adoption in automotive due to rising demand for fuel-efficient vehicles. Moreover, the European Emission Standards (EEC), and the US Environmental Protection Agency (EPA) emission regulations are anticipated to bolster the EV Test Equipment market growth.

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The technological advancements of test equipment are one of the major factors accelerating the EV Test Equipment market growth.

There has been a rapid rise in technological advancements in EV test components, which is thus propelling the EV Test Equipment market. This can be mainly credited to the growing demand for fuel-efficient vehicles. Various EV test equipment manufacturers such as HORIBA and Intertek are investing significantly in vehicle testing equipment. Further, the growing demand for autonomous vehicles, and electric vehicles to produce complex structures is expected to drive the need for EV test equipment.

Recent strategic developments in EV Test Equipment market

The EV Test Equipment market has undergone several significant developments, and a few of these have been mentioned below:

• In April 2022, Horiba launched the FTX-ONE-CL and FTX-ONE-RS which are two new products in the FTX-ONE exhaust gas analyzer.
• In November 2021, Keysight Technologies, Inc. and Proventia Oy teamed up 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.

The EV Test Equipment market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. National Instruments Corporation, Horiba Ltd., Arbin Instrument, Maccor Inc., KEYSIGHT TECHNOLOGIES, INC., Froude, Inc., Dynomerk Controls, Comemso electronics GmbH, Durr Group, TÜV RHEINLAND, INTERTEK GROUP PLC, TOYO SYSTEM CO., LTD, and WONIK PNE CO., LTD are among the prominent players operating in the EV Test Equipment market.

Target audience for the report:

• Raw material suppliers
• Component/part manufacturers
• EV test equipment manufacturers
• Aftermarket services
• OEMs
• Automotive dealers
• Government bodies, such as regulating authorities and policy makers
• Venture capitalists, private equity firms, and start-up companies
• End users of automotive sector

Scope of the report:

In this report, the EV Test Equipment market has been segmented on the basis of:

• Vehicle Type
  • Passenger Car
  • Commercial Vehicle
  • 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
  • AC/DC EVSE
• Application
  • EV Component and Drivetrain System
  • EV charging
  • Powertrain
• End User
  • OEMs
  • Tier 1 Suppliers
  • Research and Academics
  • Others
• Region
  • North America
  • Europe
  • Asia Pacific (APAC)
  • South & Central America
  • Middle East & Africa
• Companies profiled
  • National Instruments Corporation
  • Horiba Ltd.
  • Arbin Instrument
  • Maccor Inc.
  • KEYSIGHT TECHNOLOGIES, INC.
  • Froude, Inc.
  • Dynomerk Controls
  • Comemso electronics GmbH
  • Durr Group
  • TÜV RHEINLAND
  • INTERTEK GROUP PLC
  • TOYO SYSTEM CO., LTD
  • WONIK PNE CO., LTD