Electric Vehicle Test Equipment Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 174.37 Million |
| Market Size (2029) | USD 460.17 Million |
| CAGR (2024 - 2029) | 21.42 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Electric Vehicle Test Equipment Market Analysis
The Electric Vehicle Test Equipment Market size is estimated at USD 174.37 million in 2024, and is expected to reach USD 460.17 million by 2029, growing at a CAGR of 21.42% during the forecast period (2024-2029).
The EV test equipment market encompasses a wide range of tools designed to evaluate the performance, durability, and safety of electric vehicles. These tools are used across various stages of an EV's lifecycle, including research and development, production, and maintenance. The market is categorized by equipment type, such as battery testing, powertrain testing, component testing, and charger testing. Additionally, these tools are tailored to meet the specific needs of different vehicle types, including passenger cars and commercial vehicles.
- Diverse Equipment Offerings: The market includes a broad spectrum of equipment types designed for various aspects of electric vehicle testing. EV battery test systems, powertrain test systems, and electric vehicle charger testing solutions are among the key segments driving market growth.
- Lifecycle Integration: The application of EV test equipment spans the entire lifecycle of electric vehicles, from research and development to production and maintenance. This integration ensures comprehensive testing solutions that address all critical stages of EV development.
- Customization for Vehicle Types: The market is characterized by the customization of test equipment to meet the specific requirements of different vehicle categories, including passenger cars, commercial vehicles, and high-performance electric vehicles. This ensures that testing solutions are aligned with the unique needs of each segment.
Geographic Distribution
The geographic distribution of the electric vehicle test equipment market is highly influenced by the EV industry's growth in key regions like North America, Europe, and Asia-Pacific. These regions have seen significant investments in EV technology, infrastructure, and regulatory support, driving the demand for advanced testing solutions.
- North America and Europe: Both regions are characterized by substantial investments in electric vehicle technology and stringent regulatory frameworks. The presence of leading automotive companies and a strong focus on innovation in these regions contribute to the growth of the EV test equipment market.
- Asia-Pacific Leadership: The Asia-Pacific region, particularly China, Japan, and South Korea, is leading the market in terms of production and innovation. This dominance is driven by the region's robust manufacturing infrastructure, governmental support, and high demand for electric vehicles.
Surge in Demand for EV Battery Test Systems
As electric vehicles rely heavily on battery performance, the demand for advanced EV battery test systems has surged. These systems are crucial for evaluating battery capacity, lifespan, and safety under various operating conditions.
- Battery Performance Evaluation: Advanced EV battery test systems are essential for assessing battery performance, including capacity, durability, and safety. These systems simulate real-world scenarios to ensure that batteries meet the stringent requirements of modern electric vehicles.
- Innovation in Battery Technologies: Continuous innovation in battery technologies, including the development of solid-state batteries and other advanced chemistries, necessitates specialized testing equipment. This drives demand for new and sophisticated battery testing solutions.
- Compliance with Safety Standards: The push for longer driving ranges and faster charging times has led to increased investments in battery test systems that provide accurate and reliable data. This data is crucial for ensuring compliance with stringent safety standards and for the development of next-generation battery technologies.
Expansion of Powertrain Testing Solutions
The powertrain is a critical component of any vehicle, and in electric vehicles, it includes the electric motor, transmission, and associated control systems. As the complexity of electric vehicle powertrains increases, the demand for comprehensive powertrain testing solutions has expanded significantly.
- Comprehensive Powertrain Testing: Powertrain testing systems are essential for evaluating the efficiency, performance, and durability of electric motors and transmissions. These systems simulate real-world driving conditions to ensure that powertrain components can meet the demands of various driving scenarios.
- Advanced Powertrain Configurations: The development of all-wheel-drive systems and multi-motor configurations in electric vehicles has created a need for more advanced powertrain testing equipment. Manufacturers are adopting solutions that offer high precision, scalability, and flexibility to keep pace with these innovations.
- Integrated Testing Approaches: The integration of powertrain testing with other vehicle systems, such as battery management and charging systems, has become increasingly important. This integrated approach enhances the overall performance and reliability of electric vehicles.
Electric Vehicle Test Equipment Market Trends
Rising Electric Vehicle Sales Drive Market Growth
Consumers increasingly opt for new energy vehicles, drawn by the lower lifetime operating costs of electric vehicles (EVs) compared to internal combustion engine (ICE) vehicles. This shift is fueling a surge in global EV sales. With the anticipated growth in EV adoption over the coming years, the demand for electric vehicle testing equipment, particularly battery and powertrain test systems, is set to accelerate.
- As reported by the International Energy Agency (IEA), global sales of electric cars reached 13.7 million units in 2023, up from 10.3 million units in 2022, marking a robust year-on-year growth of 33.0%.
- Avere France reported that new registrations of plug-in hybrid electric cars in France rose to 163,354 units in 2023, up from 127,110 units in 2022, highlighting a year-on-year growth of 28.5%.
The global surge in Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs) significantly drives the electric vehicle test equipment market. The reduction in powertrain component costs, thanks to advancements in materials and more efficient packaging, is also fueling this growth.
- Government Initiatives and Incentives: Worldwide, governments are implementing various programs and policies to encourage the shift towards electric vehicles, thereby boosting the market for EV testing solutions. For instance, California's Zero Emission Vehicle (ZEV) program and substantial incentives in countries like India, China, and Germany are propelling industry growth.
- Post-Pandemic Surge in EV Adoption: The COVID-19 pandemic initially slowed EV sales due to supply chain disruptions and economic downturns. However, the market has rebounded strongly, with a significant increase in the demand for EV safety test equipment and EV charger testing solutions.
- OEMs Shifting to Electric Vehicles: Major Original Equipment Manufacturers (OEMs) are restructuring their product lines to focus on electric vehicles exclusively, further driving the demand for advanced EV testing systems. Investments by companies like General Motors and Volkswagen highlight this trend.
Automakers have been gradually developing business strategies that take electrification into account as a way to increase market share and keep a competitive edge in recent years. Moving forward, companies have announced their recent plans with a greater choice of models to be rolled out sooner over the study period.
- Toyota, the world’s largest car manufacturer, aims to roll out 30 BEV models with a goal of reaching 3.5 million annual sales of electric cars by 2030. Lexus aims to achieve 100% BEV sales globally in 2035.
- Volkswagen announced that all-electric vehicle sales would exceed 70% of its European and 50% of its Chinese and US sales by 2030 and that by 2040, nearly 100% should be zero-emissions vehicles. Whereas Volvo committed to becoming a fully electric car company by 2030.
- Ford also stated that it expects one-third of its European sales to be fully electric by 2026 and 50% by 2030, building on the success of its F-150 electric model, and to move to all-electric in Europe by 2030. Whereas Stellantis targets 100% of sales in Europe and 50% of sales in the United States to be BEVs by 2030.
- General Motors announced that it aims for 30 EV models and for an installed BEV production capacity of 1 million units in North America by 2025 and for carbon neutrality in 2040.
- Hyundai targets sales of 1.9 million BEVs annually by 2030 to secure a 7% global market share, and to end sales of ICE vehicles in Europe in 2035.
Asia-Pacific Leading the Market
The Asia-Pacific region remains at the forefront of the electric vehicle test equipment market, driven by its leadership in EV production and innovation.
- Dominance in Production and Innovation: China, Japan, and South Korea are leading the market, supported by lower powertrain component costs and significant investments in EV technology. The region's manufacturing infrastructure and governmental support are key drivers of market growth.
- Government Support and Market Expansion: Governments across Asia-Pacific are actively supporting the EV industry through incentives and policies, contributing to the region's leadership in the global market. China's investments in EV test equipment manufacturers are fostering the development of advanced technologies and testing standards.
- Impact of the Pandemic and Recovery: Despite initial disruptions due to COVID-19, the Asia-Pacific region has seen a robust recovery, particularly in EV battery management system testing and EV performance testing equipment.
- Future Market Growth and Innovation: The Asia-Pacific region is expected to continue outpacing other regions in market growth and value, with robust expansion predicted in segments like EV charger testing solutions and powertrain test systems.
China, India, Japan, and South Korea are at the forefront of the electric vehicle race in the Asia-Pacific region, thanks to supportive government incentives and schemes. Additionally, automakers like BYD, Tata Motors, and Toyota are expanding their EV portfolios in alignment with the government's decarbonization efforts, driving the electric vehicle market's growth and boosting the demand for electric vehicle test equipment.
- Sales of electric four-wheelers in India surged to 90,432 units in FY 2024, up from 47,499 units in FY 2023, marking a remarkable year-on-year growth of 90.3%, as reported by the Society of Manufacturers of Electric Vehicles (SMEV).
- Battery electric vehicle sales in China rose to 559 thousand units in August 2023, up from 508 thousand in July, reflecting a year-on-year growth of 10.0%, according to the China Association of Automobile Manufacturers (CAAM).
Both private and public investments are pouring into developing electric vehicle charging infrastructure in the region, further boosting EV adoption. Companies like Kazam and Hubject are heavily investing in electric charging stations, leading to a heightened demand for EV charging test equipment across the Asia-Pacific.
- As per the Japanese Ministry of Economy, Trade, and Industry (METI), 41% of Japan's publicly available fast-charging stations for EVs were situated at car dealers, trailed by convenience stores at 14% and train stations at 9%.
- The International Energy Agency (IEA) highlighted that in 2023, China, South Korea, and Japan topped the Asia-Pacific region in terms of publicly accessible electric vehicle chargers. China boasted 2,700 thousand units, followed by South Korea with 201 thousand units, and Japan with 31.6 thousand units.
Electric Vehicle Test Equipment Industry Overview
The electric vehicle (EV) test equipment market is moderately consolidated, featuring a mix of global conglomerates and specialized companies.
- Global and Specialized Players: The market is characterized by a combination of large multinational corporations with extensive experience in testing and measurement technologies, as well as niche players focused exclusively on EV testing solutions.
- Market Leaders with Comprehensive Offerings: Key players such as TÜV Rheinland, Keysight Technologies, Inc., National Instruments Corporation, Dürr AG, and Horiba Ltd. dominate the market. These companies offer advanced testing solutions that cover various aspects of electric vehicles, ensuring compliance with evolving standards across different regions.
- Innovation and Adaptability as Success Strategies: The ability to innovate and adapt to new testing requirements is crucial for success. Companies investing in advanced technologies like AI and IoT for predictive maintenance and real-time data analytics are likely to gain a competitive edge.
- Strong Partnerships with EV Manufacturers: Building strong partnerships with EV manufacturers and focusing on delivering tailored solutions are vital strategies for maintaining market share and driving future growth in the electric vehicle test equipment market.
Electric Vehicle Test Equipment Market Leaders
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TUV Rheinland
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Keyinsight Technologies, Inc.
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National Instruments Corporation
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Durr AG
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Horiba Ltd.
*Disclaimer: Major Players sorted in no particular order
Electric Vehicle Test Equipment Market News
- In August 2024, UL Solutions, a provider of testing, inspection, and certification services for the clean energy sector, inaugurated its North America Advanced Battery Laboratory in Auburn Hills, Michigan. This facility will focus on testing batteries for electric and hybrid vehicles alongside industrial applications. The lab's testing repertoire encompasses thermal fire propagation, electrical, mechanical abuse, and environmental assessments, all compliant with standards set by UL, the International Electrotechnical Commission (IEC), the United Nations (UN), and the Society of Automotive Engineers (SAE).
- In June 2024, SAE International, the foremost global authority in mobility standards development, announced the appointment of Pearson VUE division, a worldwide frontrunner in computer-based testing for critical certification and licensure exams, to launch its new Electric Vehicle Supply Equipment (EVSE) Technician Certification. This collaboration seeks to mitigate the shortage of skilled EV technicians, bolstering the expanding EV infrastructure in the United States and globally.
- In February 2024, Ford inaugurated its electric vehicle powertrain test laboratory in Essex, United Kingdom, with a significant investment of USD 31.2 million. The inaugural tests at the newly established Propulsion Development Laboratory focused on components for the E-Transit Courier, E-Transit Custom, and Ford Puma Gen-E. This laboratory aims to spearhead innovations in testing electric and hybrid vehicle powertrains.
Electric Vehicle Test Equipment Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Rising Electric Vehicle Sales Worldwide Drives the Market Growth
4.2 Market Restraints
4.2.1 High Cost of Electric Vehicle (EV) Testing Equipment Deters Market Growth
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size in Value - USD)
5.1 By Vehicle Type
5.1.1 Passenger Cars
5.1.2 Commercial Vehicles
5.2 By Propulsion Type
5.2.1 Battery Electric Vehicles (BEVs)
5.2.2 Plug-In Hybrid Electric Vehicles (PHEVs)
5.2.3 Hybrid Electric Vehicles (HEVs)
5.2.4 Fuel Cell Electric Vehicles (FCEVs)
5.3 By Equipment Type
5.3.1 Electric Vehicle (EV) Battery Test Systems
5.3.2 Powertrain Testing
5.3.3 Electric Vehicle (EV) Component
5.3.4 Electric Vehicle (EV) Charging
5.3.5 Others (EV Drivetrain Test)
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 India
5.4.3.3 Japan
5.4.3.4 South Korea
5.4.3.5 Rest of Asia-Pacific
5.4.4 Rest of the World
5.4.4.1 South America
5.4.4.2 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 TUV Rheinland
6.2.2 Keyinsight Technologies, Inc.
6.2.3 National Instruments Corporation
6.2.4 Durr AG
6.2.5 Horiba Ltd.
6.2.6 Arbin Instruments
6.2.7 Maccor, Inc.
6.2.8 Dynomerk Controls India Pvt. Ltd.
6.2.9 Wonik PNE
6.2.10 Chroma ATE Inc.
6.2.11 AVL (List Capital & Consulting GmbH)
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Electric Vehicle Test Equipment Industry Segmentation
Electric vehicle test equipment evaluates crucial components of electric vehicles (EVs), such as batteries and motors, ensuring peak performance of all integrated parts. This suite of Electric Vehicle (EV) test equipment and software includes tools designed to test various systems. These systems encompass battery modules, packs, electric powertrains, DC fast charging systems, and power electronics.
The electric vehicle test equipment market is segmented by vehicle type, propulsion type, equipment type, and geography. By vehicle type, the market is segmented into passenger cars and commercial vehicles. By propulsion type, the market is segmented into battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs), and fuel cell electric vehicles (FCEVs). By equipment type, the market is segmented into electric vehicle (EV) battery test systems, powertrain testing, electric vehicle (EV) component, electric vehicle (EV) charging, and others (EV drivetrain test). By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.
The report offers market size and forecasts in value (USD) for all the above segments.
| By Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| By Propulsion Type | |
| Battery Electric Vehicles (BEVs) | |
| Plug-In Hybrid Electric Vehicles (PHEVs) | |
| Hybrid Electric Vehicles (HEVs) | |
| Fuel Cell Electric Vehicles (FCEVs) |
| By Equipment Type | |
| Electric Vehicle (EV) Battery Test Systems | |
| Powertrain Testing | |
| Electric Vehicle (EV) Component | |
| Electric Vehicle (EV) Charging | |
| Others (EV Drivetrain Test) |
| By Geography | ||||||||
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Electric Vehicle Test Equipment Market Research FAQs
How big is the Electric Vehicle Test Equipment Market?
The Electric Vehicle Test Equipment Market size is expected to reach USD 174.37 million in 2024 and grow at a CAGR of 21.42% to reach USD 460.17 million by 2029.
What is the current Electric Vehicle Test Equipment Market size?
In 2024, the Electric Vehicle Test Equipment Market size is expected to reach USD 174.37 million.
Who are the key players in Electric Vehicle Test Equipment Market?
TUV Rheinland, Keyinsight Technologies, Inc., National Instruments Corporation, Durr AG and Horiba Ltd. are the major companies operating in the Electric Vehicle Test Equipment Market.
Which is the fastest growing region in Electric Vehicle Test Equipment Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Electric Vehicle Test Equipment Market?
In 2024, the Asia-Pacific accounts for the largest market share in Electric Vehicle Test Equipment Market.
What years does this Electric Vehicle Test Equipment Market cover, and what was the market size in 2023?
In 2023, the Electric Vehicle Test Equipment Market size was estimated at USD 137.02 million. The report covers the Electric Vehicle Test Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Electric Vehicle Test Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Electric Vehicle Test Equipment Industry Report
Our industry research into the Electric Vehicle (EV) Test Equipment Market underscores its critical role in ensuring the safety, efficiency, and reliability of electric vehicles. The report offers a comprehensive overview of the market, covering key segments such as EV battery test systems, powertrain test systems, and electric vehicle charger testing solutions. It delves into market trends, geographic distribution, and the impact of technological advancements, providing stakeholders with valuable industry information. The insights, available in an easy-to-read report pdf format, empower industry leaders to make data-driven decisions that align with the latest market trends and forecasts.
The research report also highlights the competitive landscape, featuring in-depth analysis of leading players and their strategies in the market. It covers industry size, market growth, and segmentation, offering a detailed market review and outlook. Stakeholders benefit from this research by gaining access to critical market data and industry statistics that are essential for strategic planning and investment decisions. The report pdf ensures that all the key insights and industry trends are readily accessible, helping companies to navigate the rapidly evolving electric vehicle test equipment market with confidence.
Statistics for the 2024 Electric Vehicle Test Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Electric Vehicle Test Equipment analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
