Electric Vehicle Test Equipment Market Surges to USD 346.9 Million by 2031 with a Striking 23.8% CAGR

EV Test Equipment Market Report

PORTLAND, OREGAON, UNITED STATES, January 26, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, EV Test Equipment Market Size, Share, Competitive Landscape and Trend Analysis Report by Propulsion Type (BEV, PHEV), by Vehicle Type (Passenger Car, Commercial Vehicle), by Vehicle Top Speed (Less Than 100 MPH, 100 to 125 MPH, More Than 125 MPH), by Vehicle Class (Mid-priced, Luxury), by Application (EV Component, EV Charging, Powertrain): Global Opportunity Analysis and Industry Forecast, 2021-2031. 𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐄𝐕 𝐭𝐞𝐬𝐭 𝐞𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟒𝟎.𝟕 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟏, 𝐚𝐧𝐝 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟑𝟒𝟔.𝟗 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟐𝟑.𝟖% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟐 𝐭𝐨 𝟐𝟎𝟑𝟏.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/12111

𝐄𝐕 𝐓𝐞𝐬𝐭 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 :

𝐁𝐲 𝐏𝐫𝐨𝐩𝐮𝐥𝐬𝐢𝐨𝐧 𝐓𝐲𝐩𝐞 :
BEV
PHEV

𝐁𝐲 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐲𝐩𝐞 :
Passenger Car
Commercial Vehicle

𝐁𝐲 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐨𝐩 𝐒𝐩𝐞𝐞𝐝 :
Less Than 100 MPH
100 to 125 MPH
More Than 125 MPH

𝐁𝐲 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐂𝐥𝐚𝐬𝐬 :
Mid-priced
Luxury

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 :
EV Component
EV Charging
Powertrain

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘 :

By propulsion type, BEV segment dominated the global EV Test Equipment market in terms of growth rate.

On the basis of vehicle type, the commercial vehicle segment is anticipated to exhibit a remarkable growth during the forecast period.

By vehicle top speed, the 100 to 125 mph segment is the highest contributor to the EV Test Equipment market in terms of growth rate.

By vehicle class, the luxury segment is anticipated to exhibit a remarkable growth during the forecast period.

On the basis of application, the EV charging segment is anticipated to exhibit remarkable growth during the forecast period.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/ev-test-equipment-market/purchase-options

Electric vehicle (EV) test equipment includes test systems such as battery testing, E-drive testing, power electronics test systems, dynamometers, motor testing, and charger testing systems. At present, electric vehicles (EVs) are experiencing a rise in popularity over the past few years as the technology has matured & costs have declined, and support for clean transportation has promoted awareness, increased charging opportunities, and facilitated EV adoption. Moreover, new developments in battery chemistry are expected to help & increase the efficiency of lithium-ion batteries and test systems for these innovative battery packs. Also, researchers focusing on conventional lithium-ion, solid-state, advanced lithium-ion using an intermetallic anode (silicon alloy composite), and future advanced lithium-ion (lithium metal, including lithium-sulfur and lithium-cobalt) batteries with innovative designs and chemistries.

In addition, the EV test equipment market has witnessed significant growth in recent years, owing to increased demand for improved vehicle performance and inclination of consumers toward environment-friendly vehicles. According to European Environment Agency, in 2020, electric car registrations surged, accounting for 11% of newly registered passenger cars in which battery electric vehicles (BEVs) accounted for 6% of total new car registrations, while plug-in hybrid electric vehicles (PHEVs) represented 5%. Also, the production and sales of electric vehicles globally have been growing at a high rate, owing to positive regulatory environment, such as subsidies and tax exemptions for both the industry and consumers in the European and Asia-Pacific region. For instance, China undertook measures such as sales tax exemptions and providing preferential financing and traffic management policies for electric vehicles. Japan also plans to increase its share of EVs and plug-in hybrids between 20% and 30% by 2030 and has taken measures such as increasing subsidies for EV buyers. Also, the South Korean government has been encouraging the usage of EVs through subsidies and tax rebates with the goal of having 430,000 EVs on the road by the end of 2022 and has invested in a program to improve charging infrastructure in the country. This has led to high demand for EV testing equipment globally.

The factors such as increase in demand for electric vehicles, advancements in battery technologies, and stringent vehicular emission norms & regulations supplement the growth of the EV test equipment market. However, high cost of advanced technology equipment and reduction in EV subsidies are the factors expected to hamper the growth of the EV test equipment market. In addition, advancements in EV charging stations and proactive government initiatives for promotion of electric vehicles are some factors expected to create ample opportunities for the key players operating in the EV test equipment market.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/12111

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Arbin Instruments,
ATESTEO GmbH,
AVL,
Blum-Novotest GmbH,
Burke Porter Group,
Chroma ATE Inc.,
Durr Group,
FEV Group GmbH,
HORIBA, Ltd.,
Intertek Group Plc,
Keysight Technologies,
KUKA Aktiengesellschaft,
SGS SA,
Sierra Instruments, Inc.,
Softing AG,
Tasi Group,
TÜV Rheinland,
ZF Friedrichshafen AG.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐒𝐮𝐩𝐩𝐥𝐲 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 (𝐄𝐕𝐒𝐄) 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.alliedmarketresearch.com/electric-vehicle-supply-equipment-market-A07130

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐂𝐡𝐚𝐫𝐠𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.alliedmarketresearch.com/electric-vehicle-charger-EVC-market

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐒𝐰𝐚𝐩𝐩𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.alliedmarketresearch.com/electric-vehicle-battery-swapping-market-A10601

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐇𝐕𝐀𝐂 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.alliedmarketresearch.com/electric-vehicle-hvac-market-A74608

David Correa
Allied Market Research
+1 800-792-5285
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