Europe EV Testing Equipment Market

The EV testing equipment market in Europe is expected to grow from US$ 7,636.78 million in 2021 to US$ 24,921.01 million by 2028.

The EV testing equipment market in Europe is expected to grow from US$ 7,636.78 million in 2021 to US$ 24,921.01 million by 2028. It is estimated to grow at a CAGR of 19.3% from 2021 to 2028. The rising concern regarding the transportation sector's impact on the environment led to an unprecedented requirement of decarbonizing transportation to meet climate goals and limit global warming, thereby increasing the adoption of low carbon technology in the transportation sector. The rising concerns about the adverse impact of transportation-related emissions and the shift of consumer behavior toward zero-emission vehicles resulted in a significant increase in the adoption of light-duty passenger vehicles across the region, especially in strong economies such as the European region. The share of new passenger EVs has risen at an average of nearly 50% per year since 2015. In 2021, the sales of electric vehicles surged by 160%. Europe witnessed the largest annual increase to reach 3.2 million electric passenger vehicles. Additionally, the constantly rising demand for electric vehicles is fueled by huge investments made by automotive giants in developing, developing, and producing electric vehicles. For instance, General Motors, Volkswagen, Volvo, BMW, Nissan, and Audi have collectively invested approximately US$ 150 billion in manufacturing electric vehicles and launched new models throughout 2020–2021. Furthermore, with the fall in prices of EVs and the availability of a greater number of models, electric vehicle production is set for exponential growth in various countries, subject to countries’ overall economic growth and policy support from the government. The growing demand for battery-powered and hybrid vehicles drives market expansion. Battery testing, e-drive testing, power electronics test systems, dynamometers, motor testing, and charger testing systems are all types of EV test equipment. Original equipment manufacturers (OEMs)  included numerous battery packs, vehicle electronic components, and improved charging stations in electric vehicles as of 2021, driving the market growth. Advanced testing equipment/platforms for EV charging stations are offered by DEKRA, TUV Rheinland, and Intertek. Apart from the rising production of electric vehicles, autonomous vehicle testing has increased rapidly, likely contributing to market growth.

With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe EV testing equipment market at a substantial CAGR during the forecast period.

Europe EV Testing Equipment Market Revenue and Forecast to 2028 (US$ Million)  

Europe EV Testing Equipment Market Segmentation

The Europe EV testing equipment market is segmented on the basis of vehicle type, equipment type, application, and country. Based on vehicle type, the market is segmented into passenger car, commercial vehicle, and low speed electric vehicles. In 2021, the passenger car segment held the largest  market; and it is  expected to register the highest CAGR during the forecast period. Based on equipmenmt type, the Europe EV testing equipment market is segmented into battery test equipment, motor test equipment, engine dynamometer, chassis dynamometer, transmission dynamometer, fuel injection pump tester, inverter tester, EV drivetrain test, on-board charger, and AC/DC EVSE. In 2021, the battery test equipment segment held the largest market share; and it is also expected to register the highest CAGR in the market during the forecast period. Based on application, the market is segmented into EV component and drivetrain system, EV charging, and powertrain. In 2021, the powertrain segment held the largest  market share;. Based on end-users, the market is segmented into OEMs, tier 1 suppliers, research and academics, and others. In 2021, the tier 1 suppliers segment held a larger share of the market; and it is also expected to register a higher CAGR during the forecast period. Based on country, the Europe EV testing equipment market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. In 2021, Germany held the largest market share; and it is expected to grow at the fastest CAGR during the forecast period.

National Instruments Corporation; Horiba Ltd.; Arbin Instruments; Maccor Inc.; Keysight Technologies, Inc.; Froude, Inc.; Comemso electronics GmbH; Durr Group; Tüv Rheinland; Intertek Group Plc.; Toyo system co., ltd.; and  Wonik Pne Co., Ltd. are among some of the leading companies in the Europe EV testing equipment market.

Europe EV Testing Equipment Strategic Insights

Strategic insights for the Europe EV Testing Equipment provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe EV Testing Equipment Report Scope

Europe EV Testing Equipment Regional Insights

The geographic scope of the Europe EV Testing Equipment refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.