EV Test Equipment Market

EV Test Equipment Market worth $242 million by 2027

According to a research report "EV Test Equipment Market by Vehicle Type (Passenger Car and Commercial Vehicle), Electric Vehicle Type (BEV, PHEV & HEV), Equipment Type, Application Type (EV Component, EV Charging, and Powertrain) and Region - Global Forecast to 2027" published by MarketsandMarkets, the global EV test equipment market size is projected to grow from USD 79 million in 2022 to reach USD 242 million by 2027, at a CAGR of 25.2%.

Browse 215 market data Tables and 75 Figures spread through 271 Pages and in-depth TOC on "EV Test Equipment Market by Vehicle Type (Passenger Car and Commercial Vehicle), Electric Vehicle Type (BEV, PHEV & HEV), Equipment Type, Application Type (EV Component, EV Charging, and Powertrain) and Region - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/ev-test-equipment-market-194816929.html

The increasing demand for alternative fuel vehicles has increased the growth of the market for electric vehicles. To reduce crude oil consumption, automotive emissions, and air pollution, governments around the world have adopted and implemented favourable policies which promote the use of electric vehicles. The increasing demand for electric vehicles is expected to fuel the growth of the market for electric vehicle testing equipment and related components

Due to the increasing focus on the development of innovative battery technologies, high demand for vehicle electronic functions and features, and stringent emission standards, the demand for EV test equipment, software, and repair data is rising.

US is expected to be the largest market in North America during the forecast Period

The US accounts for the largest share of electric vehicle sales in North America. The US automotive industry has a higher focus on innovations, technology, and the development of safe and comfortable automobiles. The increasing production of electric vehicles such as BEVs, PHEVs, and HEVs is expected to drive the market for EV charging stations in the country. The government offers various incentives and rebates for both, EV buyers and EV and EV-related equipment manufacturers. To support the fast-paced acceptance of EVs, the governments of various US states have collaborated with EV manufacturers to enhance commercial vehicle electrification, support the purchase of EVs, increase charging points across their states, offer incentives to EV manufacturers to increase growth, and support innovations in EV technology.

Europe is expected to be the second-largest market during the forecast

The European EV test equipment market is expected to grow at a high rate with countries such as France, Germany, Italy, Spain, and the UK leading the trend in the faster adoption of EVs. Currently, Germany, France, and the UK are among the most EV-ready countries in Europe. By the end of the forecast period, Germany and the UK are expected to move towards their goal of phasing out fossil fuel vehicles as planned by these European countries. Spain and France are expected to be the fastest-growing markets for EV test equipment in the region due to strong government support for the growth of EVs and related industries in their countries.

The EV Charging segment is expected to have significant market during the forecast period

There have been some path-breaking developments in the field of EV charging. For instance, a Level 3 or Level 4 charger can charge a vehicle in less than an hour, which is expected to enable the vehicle to run for more than 200 km. On-board charger and AC/DC EVSE ATS are the latest developments in EV charging-related test equipment. The on-board charger has an integrated power factor corrector, galvanic isolation, a wide range of input and output voltages, and adjustable current limits, while AC/DC EVSE ATS provides testing for measurements including current, voltage, temperature, speed, and mileage.

The EV test equipment market is dominated by established players such as AVL (Austria), TUV Rheinland (Germany), Durr Group (Germany), Chroma ATE (Taiwan), and HORIBA LTD.(Japan).

Don’t miss out on business opportunities in EV Test Equipment Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

EV Test Equipment Market Size,  Share & Growth Report
Report Code
AT 7857
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the EV Test Equipment Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status

Digital Virtual Assistant - MarketsandMarkets