Size, Demand, Growth and Share Insights : EV Test Equipment Market From 2022 to 2031

According to a new report published by Allied Market Research, titled, "EV Test Equipment Market," The ev test equipment market was valued at $40,722.00 thousand in 2021, and is estimated to reach $346,877.50 thousand by 2031, growing at a CAGR of 23.8% from 2022 to 2031.

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

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.

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

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.

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.

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.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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