The analysis from Zion Market Research reveals that the global EV Test Equipment Market had a value of USD 93.36 Million in 2023 and is projected to reach USD 395.51 Million by the conclusion of 2032. The market is projected to experience a Compound Annual Growth Rate (CAGR) of 17.4% throughout the forecast period.
The electric vehicle (EV) test equipment market encompasses a wide array of instruments and apparatuses used to evaluate the efficiency, safety, and reliability of electric automobiles and their components. The research, production, and maintenance of electric vehicles (EVs) rely significantly on this market to ensure that they meet the demanding standards of both consumers and the industry.
The primary categories of EV test equipment include battery testing systems, motor testing instruments, dynamometers, and power electronics testing devices. The batteries are the crucial components of electric cars, and the use of battery testing machines is vital in assessing the capacity, durability, and safety of EV batteries. Motor testing apparatus is used to evaluate the performance of electric motors, which includes measuring their efficiency, power output, and thermal behavior. The power, torque, and force of electric vehicles (EVs) can be measured using a dynamometer in different operating circumstances. Power electronics testing equipment is used to analyze the chargers, inverters, and converters responsible for regulating the movement of electrical energy within the vehicle.
The market for EV test equipment is being driven by several reasons, including the rapid increase in EV usage, stringent regulations, advancements in technology, and growing investments in infrastructure. The demand for sophisticated testing equipment is growing due to governments worldwide implementing stringent standards and regulations to ensure the performance and safety of electric vehicles. Moreover, as the advancement of electric vehicle (EV) technology persists, it becomes imperative to employ sophisticated testing techniques to keep pace with the advancements in battery chemistry, motor design, and power electronics.
Trends in the Electric Vehicle Test Equipment Market
Our research analysts have identified the significant industry trends that are influencing the Electric Vehicle Test Equipment industry in this section.
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Rising global adoption of electric vehicles
The market is seeing growth due to the rising demand for Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs), along with reduced costs of powertrain components resulting from breakthroughs in materials and superior packaging arrangements. Furthermore, the exorbitant expense of batteries has compelled the need for improvements in vehicle performance and power electronics.
Furthermore, governments worldwide have created a range of programs and laws to incentivize people to opt for electric vehicles instead of conventional ones. The California Zero Emission Vehicle (ZEV) program is an initiative that promotes the adoption of electric vehicles (EVs) by aiming to have 1.5 million EVs on the road by 2025. India, China, the United Kingdom, South Korea, France, Germany, Norway, and the Netherlands are among the countries that offer a range of incentives.
Following the spread of COVID-19, there was a substantial rise in the sales of electric vehicles. The implementation of lockdown measures by governments worldwide has resulted in a deceleration of economic activity, negatively impacting the sales of electric vehicles and charging infrastructure systems. The accessibility of supplementary elements, such as inverters and lithium-ion battery packs, was impacted. A power inverter is a crucial element of electric cars. The car is propelled by transferring energy from the batteries using a traction motor.
Electric vehicle manufacturers have encountered a substantial obstacle in achieving consumer acceptance. Consumers have been hesitant to buy electric vehicles due to concerns such as the limited availability of charging stations and the steep price, which is comparable to that of entry-level luxury cars. As a result of the COVID-19 pandemic, several countries, including India, have postponed their plans to build more than 50,000 charging stations and enhance the charging infrastructure.
Notably, several original equipment manufacturers (OEMs) plan to reorganize their product portfolios exclusively to manufacture electric vehicles. General Motors declared in 2021 its intention to allocate a sum of USD 20 billion towards the development of electrified and driverless vehicles by the year 2025. The company aims to launch 20 new electric vehicles and achieve annual sales of over 1 million electric cars in China and the United States by 2023.
Volkswagen plans to allocate a total of USD 36 billion on the development of electric vehicles for its mainstream brands by the year 2024. The company asserts that electric vehicles will constitute a minimum of 25% of its worldwide sales by 2025.
Through the analysis of vehicle types
The passenger car segment is expected to maintain the largest market share.
The market is divided into two segments based on the kind of vehicle: passenger automobiles and commercial vehicles.
The passenger car segment holds the highest proportion in the global market. The supremacy can be ascribed to multiple variables, such as the rising urban population and their transportation requirements. In addition, electric automobiles are favored over vehicles powered by internal combustion engines (IC engines) because of their economical operating expenses, which makes them the preferred option for end-users. Furthermore, the escalating apprehension regarding the rising environmental contamination caused by the operation of internal combustion engine vehicles in industrialized nations of Europe and North America is anticipated to stimulate the need for electric passenger cars.
The sales and product variety of the commercial vehicle segment are expanding. Furthermore, commercial electric vehicles (EVs) are increasingly being integrated into the transportation sector in nations like China and the United States. It is anticipated that they will substitute traditional trucks throughout the projected timeframe. Commercial vehicles are playing a substantial role in driving market expansion. Many electric vehicle manufacturers prioritize the utilization of lightweight materials to decrease the amount of weight that may be carried. Consequently, it is anticipated that the commercial vehicle sector would experience significant growth throughout the projected timeframe.
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Through the process of analyzing applications
The EV component and drivetrain segment is expected to have a dominant position
The market for electric vehicle test equipment is categorized into EV Component and Drivetrain system, EV Charging, and Powertrain based on their respective applications.
Both electric vehicles (EVs) and conventional vehicles utilize low-voltage DC buses to power many components, including air-conditioning compressors and power steering systems. A high-voltage DC source is necessary for testing the DC/DC converters. Therefore, the growing acceptance of electric vehicles (EVs) as a result of their ability to operate without emitting harmful substances and in compliance with regulations will lead to a significant increase in demand for equipment used to test EV components and drivetrains. Nevertheless, it is anticipated that test equipment in the EV charging sector will take the lead in the future, thanks to ongoing advancements in battery technology and the establishment of charging infrastructure worldwide.
Electric Vehicle (EV) Test Equipment Market, By Propulsion Type
- BEV
- PHEV
Based on Propulsion Type, the market is bifurcated into BEV and PHEV. BEV segment anticipates leading the market in the forecasted period.
Electric Vehicle (EV) Test Equipment Market, By Vehicle Type
- Passenger Car
- Commercial Vehicle
Based on Vehicle Type, the market is bifurcated into Passenger Car and Commercial Vehicle. Passenger car are anticipated to lead the market. Many variables, such as the growing urban population and transportation requirements, are responsible for the dominance. Due to their low operating costs, electric cars are increasingly preferred by end users over those powered by internal combustion engines.
Electric Vehicle (EV) Test Equipment Market, By Application
- EV Component & Drivetrain
- EV Charging
- Powertrain
Based on Application, the market is bifurcated into EV Component & Drivetrain, EV Charging, and Powertrain. EV Component & Drivetrain are anticipated to lead the market in the forecasted period.
Global EV Test Equipment Market: Competitive Players
Some of the significant players in the global EV test equipment market are;
- National Instruments
- Sinfonia Technology
- Sierra Instruments
- Link Engineering
- HORIBA
- Chroma ATE
- Chroma ATE
- TUV Rheinland
- AVL
The global EV test equipment market is segmented as follows;
Global EV Test Equipment Market: By Application Segment Analysis
- Powertrain
- Electronic Vehicle Charging
- Electronic Vehicle Component & Drivetrain System
Global EV Test Equipment Market: By Equipment Segment Analysis
- Electric Vehicle Drivetrain Test
- Onboard Charger ATS
- Inverter Test
- Fuel Injection Pump Tester
- Transmission Dynamometer
- Chases Dynamometer Engine Dynamometer
- Motor Test Equipment
- Battery Test Equipment
- AC EVSE ATS
Global EV Test Equipment Market: By Vehicle Segment Analysis
- Commercial Vehicles
- Passenger Cars
Global EV Test Equipment Market: By Electric Vehicle Segment Analysis
- Hybrid Electric Vehicles
- Battery-operated Electric Vehicles
Global EV Test Equipment Market: Regional Segment Analysis
- North America The U.S.Canada
- Europe France The UK Spain Germany Italy Rest of Europe
- Asia Pacific China Japan India South Korea Southeast Asia Rest of Asia Pacific
- Latin America Brazil Mexico Rest of Latin America
- Middle East & Africa GCC South Africa Rest of Middle East & Africa
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An overview of the electric vehicle test equipment industry
Key participants in the Electric Vehicle Test Equipment Market include National Instruments Corporation, Horiba Ltd., Arbin Instruments, Maccor Inc., Keysight Technologies, Inc., Durr Group, TUV Rheinland, and others. The market is experiencing growth and increased momentum as a result of the expansion of important participants. As an example,
HORIBA publicly announced the expansion of its Leichlingen branch in North Rhine-Westphalia and the official completion and inauguration of its new facility in Magdeburg-Barleben in Saxony-Anhalt in May 2022. HORIBA FuelCon GmbH, a subsidiary of HORIBA Europe GmbH and the global center of excellence for fuel cells, batteries, and electrolyzers within the HORIBA Group, has established its new headquarters in the "eHUB" building at Technologiepark Ostfalen in Magdeburg-Barleben. This move was made possible by a significant investment of USD 38 million.
Electric Vehicle Test Equipment Market Update
- In July 2022, TÜV SÜD Thailand inaugurated its Battery and Automotive Components Testing Centre at the Amata City Chonburi Industrial Estate. TÜV SÜD's current network of eight battery testing laboratories in North America, Germany, and Asia will be expanded by this facility. This comprehensive facility, spanning more than 3,000 square meters, provides easy access to both worldwide and local expertise, ensuring that the necessary quality and safety standards for e-Mobility are satisfied expeditiously.
- In July 2022, National Instruments Japan Corporation, a company that offers automotive testing systems and software, announced the creation of a new Co-engineering Lab at its headquarters in Minato Ward, Tokyo. The purpose of this lab is to facilitate collaborative research between the company and automakers as well as automotive components suppliers. The Co-engineering Lab will be utilized by the corporation to aid automakers and other firms in the development of cutting-edge technologies, including electrification and autonomous driving. In addition, the company will engage in collaborative research with its customers and provide demos of its testing solutions.
- In April 2022, Tevva, a company that makes electric lorries, declared that it has set up a facility at Nuneaton, located in Warwickshire's MIRA Technologies Park, with the purpose of developing advanced automotive technologies. The proximity of the facility allows convenient access to HORIBA MIRA's specialist engineering and testing skills, which include substantial crash testing, climatic, dynamics, and aerodynamic resources.
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