The globe EV Test Equipment Market The size is projected to reach US $ 105 million by 2026, up from an estimated US $ 42 million in 2021 with an annual growth rate of 20.1%. The base year for the report is 2020, and the forecast period is between 2021 and 2026. Factors such as increasing pollution and the threat of global warming have increased the need to replace petroleum fuel vehicles with zero-emission replacement vehicles. The increasing demand for electric vehicles is expected to fuel growth in the market for electric vehicle test equipment and related components.

The EV Test Equipment market has promising growth potential due to several factors including the innovative battery technologies, the demand for electronic functions and features for vehicles, as well as stringent emissions standards and the demand for EV test equipment, software and repair data. The significant sales volume of electric vehicles in Asia Pacific, particularly China, has fueled the growth of the global EV test equipment market.

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In the EV test equipment market, the inverter testers segment by equipment type is expected to have a significant market during the forecast period. Inverter testers are used to secure, test, and inspect electric vehicle systems. These detect faults in electrical vehicle systems and are required for BEV tests. Companies such as Intertek, AVL, TÜV Rheinland, Keysight, Dewesoft, HORIBA, SGS, National Instruments, Softing, Teamtechnik, etc. offer inverter test devices for electric vehicles. These companies either sell test equipment or provide testing services to manufacturers and users of electric vehicles. Inverter tests are mainly used in inverters other than the EV segment.

Europe offers a significant growth opportunity for EV test equipment as it is expected to be the second largest market over the forecast period. The lively R&D landscape and the technological excellence of the region justify the dominance of the region in the field of innovative test equipment / system technologies. In addition, there is significant demand for BEVs and HEVs in the region. Many of the leading BEV and HEV manufacturers are from the region

The Asia-Pacific region is expected to account for the largest share of the EV test equipment market during the forecast period. Cheap labor, sizeable production volumes for electric vehicles, and low production costs in emerging economies like China and India are attracting vehicle manufacturers to set up facilities in these countries. Therefore, more and more R&D centers and production facilities are being set up in these countries. This factor is driving the EV test equipment market in Asia Pacific. The Asia-Pacific region is also home to some of the renowned players in the EV test equipment market such as Horiba and SINFONIA, which is also driving the market in this region to grow as these companies improve the quality of test systems.

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Increasingly stricter emission standards to reduce the negative environmental impact of vehicle emissions are driving the demand for vehicle emissions test systems. Due to efforts to control vehicle emissions, various governments and OEMs are promoting the use of electric vehicles for transportation as it enables significant reductions in automotive emissions. The advent of autonomous and semi-autonomous vehicles, the increasing adoption of connected vehicle technology, and the monetization of real-time data are expected to further fuel the growth of the EV test equipment market. OEMs work with test equipment / platform suppliers and integrators to develop low cost, high quality, quick to use, and accurate EV test systems. A similar trend is expected to continue in the future. The demand for this equipment is expected to increase with the introduction of newer vehicle models with complex architecture and electronic systems. The increased demand is expected to increase R&D activities and lead to the development of new and advanced test systems, particularly in the US, Japan and European countries.

Important market participants

The global market for EV test equipment is dominated by large companies such as AVL (Austria), TÜV Rheinland (Germany), Teamtechnik (Germany), Chroma ATE (Taiwan) and HORIBA (Japan). These companies provide extensive products and solutions for the EV test equipment industry. They have strong sales networks on a global scale and invest heavily in research and development to develop new products.

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Contact information:

Company name: MarketsandMarkets ™ Research Private Ltd.

Contact person: Mr. Aashish Mehra

Email: [email protected]

Telephone: 18886006441

Address: 630 Dundee Road Suite 430

City: Northbrook

State: IL 60062

Country: United States