Electric Vehicle (EV) Test Equipment Market Size, Share, and Trends 2024 to 2034

The global electric vehicle (ev) test equipment market size was valued at USD 60 million in 2022 and is expected to reach around USD 462.18million by 2032 and is poised to grow at a CAGR of 22.7% during the forecast period 2023 to 2032.

Key Takeaways

• By vehicle class, the mid-priced segment held 63% market share in 2022.
• The luxury segment is growing at a CAGR of 25.7% from 2023 to 2032.
• By application, the powertrain segment accounted market share of over 47% in 2022.
• The EV charging segment is growing at a CAGR of 25.4% from 2023 to 2032.
• Asia Pacific region accounted highest revenue share of over 41% in 2022.
• Europe region is growing at a CAGR of 26.5% between 2023 to 2032.

Electric vehicle uses the basic component for running the car that is battery which can be recharged with electrification system other electronic components included are fuel stack, air conditioner, humidifier, air compressor, controlling unit, fuel processor, board system and others. Automobile industry producing different components give the good productivity, with high efficiency with granted and tested component with full safety. Total performance of the vehicle is done checking battery and charger, testing of power, motor testing by dynamometer testing.

Large number of batteries are used in electric vehicles mostly utilized batteries are molten salt, lithium ion, zinc air, nickel based designs. Due to increasing demands of the market increased the market of the electric vehicle and rise vast with testing methods adopted to improve the performance and efficiency of the electric vehicle. Best alternative fuel based cars replaced with electric vehicles and fueled the market growth.

Growth Factors

The developed technology in electrification system with improved efficiency, good performance, zero emission, long time run of the electric, less time required for charging, low maintenance,  reduced prices of the electric car, installments of the charging stations have expanded the market to grow high. Increase the number of testing methods for better productivity and less future problems. Standard developments of the batteries which includes mostly lithium ion battery, zinc air, molten salt, and nickel based developed with safety.

Battery management system is a development test for testing the battery which requires battery calibration fast testing equipment. Major reasons for the expansion of the market is zero emission of carbon dioxide decrease in air pollution and noise pollution. Which helped the environment for being ecofriendly providing the electric vehicle test equipment’s to grow.

Reduced cost of the batteries led to decrease in the price range of the electric vehicles and the test equipment’s required due to decreased cost of the raw material such as copper. Support of the various governments from different regions by investing providence for developing infrastructure of charging stations and emission free nation which help to boost the market growth. Market players involved in producing and manufacturing developed technologies and increasing automobile industry investment due to increasing demand fueled the electric vehicle test equipment market during the forecast period.

Electric Vehicle (EV) Test Equipment Market Scope

Electric Vehicle (EV) Test Equipment Market Dynamics

Key Market Drivers

• Driving the market growth high due to the needs of the market and improved advanced technologies in the electric vehicle test equipment market. Lower cost of the batteries have reduced prices of the electric car affected the market. Various different batteries are used in the manufacturing of the electric cars such as lithium ion, developed lithium ion uses an anode  that is silica alloy composite and future lithium ion battery includes lithium including lithium - cobalt and lithium sulfur. Increasing number of electric vehicles from the last two years expanded the market during the forecast period.
• The developed technology helped the environment for being ecofriendly and zero emission of carbon dioxide in the regions, improvement of the charging stations, less cost of the electric vehicle compared to the convention vehicle, highly improved facilities, high efficiency, good performance, low maintenance of the car, increased rates of the fuel are also the major factors for rising the market. Governments from different regions have contributed investing the funds for the development of the emission free region.  The market players involved in developing electric vehicle test equipment’s with advance technologies with more facilities raised the market during the forecast period.

Key Market Challenges 

• The automobile industry increased investment in the electric car test equipment market faced the problems due to reduced price of the electric car and developing innovative technologies of the electric vehicle test equipment. Which are utilized by electric car, hybrid car. Due to developed technologies of the test equipment need the time for understanding and practicing the new methods for performing the test. Lack of skill workers and time taken for adopting the new feature introduced can affect the growth of the market.
• Introducing new developed test equipment led to the high cost of the equipment due to improved facilities and better performance. Increased price may hamper the growth rate of electric vehicle test equipment market. Therefore for maintaining the balance between innovative test equipment’s and pricing of the test equipment is utmost important for the market to expand during the forecast period.

Key Market Opportunities

• Development of the market with improved manufacturing and technology with improved facilities affected the market. Governments from different regions are helping for the market with a focus of zero emission carbon dioxide in the region providing providence with developed infrastructure of charging stations helped to boost the electric vehicle test equipment market. With the advanced technologies of fuel efficient vehicles, low maintenance, good performance, reduced costing of the vehicle affected the market.
• Automobile industries manufacturing test equipment’s with improved facilities for example industries such as Horiba from Japan and Intertek from UK increasing the test equipment market by providing funds to rise the market high. Dynamometers used for testing the electric vehicle and normal fuel based vehicle are developed with latest facilities which gives improved performance, low maintenance cost, high efficiency, decreased installation rates. Newly developed dynamometer examines emission, performance, vibration of the, noise produced and harshness are the tests involved which offers growth of the market.

Application Insights

Electric Vehicle test equipment based on application it is widely used in testing of the electric vehicles, convention vehicles for good performance and high efficiency. Monitoring the electric vehicle components for noise, vibration of the vehicle, harshness is tested using dynamometer test equipment Different test equipment’s have high sensors which gives the information accurately without being disturbed by the electric vehicle components. 

End User Insights

Electric Vehicle test equipment based on end user utilized in commercial vehicles and passenger vehicles with the required test equipment necessary for the good output and efficient and improved market during the forecast period.

Electric Vehicle Test Equipment Market Share, By Region, 2022 (%)

Geography Insights

Electric Vehicle test equipment based on geographical regions such as Asia Pacific region to be at the top most position for introducing the test equipment market in the region. Around 10000 electric buses are introduced in India which are emission free and providing providence and increasing number of electric cars and 2 wheelers focusing on emission free region. China, Japan, South Korea countries developing with test equipment’s and increased revenue share which enhances the market growth. North America, Europe also to be the highest regions to gain the electric vehicle test equipment market growth. 

Recent Developments

• In the year 2020 July, 3 - Electrode battery testing equipment was introduced by Arbin
• In the year 2020 July, Kuka and T-systems collaborated to introduce new solution testing for manufacturing industries
• In the year 2020 October, Horiba launched new driving system, DA, EVO which work driving robots for testing the vehicles.

Electric Vehicle (EV) Test Equipment Market Companies

• TUV Rheinland (Germany)
• AVL (Austria)
• Chroma ATE ( Taiwan)
• Horiba (Japan)
• KukaAG (Key Innovator)
• Froude, Inc
• Dewesoft
• Burke Portar Group
• Atestep Gruh
• Durr Group (Germany)
• Arbin instruments
• Blum- Novotet Gmbh
• FEV group GMBH
• Dynomerk Controls
• Comemso electronics Gmbh

Segments covered in the report

By Type

• Hybrid electric vehicles
• Plug-in hybrid vehicles
• Battery electric vehicles

By Vehicle

• Passenger Vehicle
• Commercial Vehicle

By Equipments

• Powertrain
• Charging
• Component
• Drivetrain test
• Axle test
• Propulsion system
• Board charger
• Inverter test
• Fuel transfer pump

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)