International EV Check Tools Market Measurement Is Anticipated To Attain US $ 105M By 2026, Up From An Estimated US $ 42M In 2021 With An Annual Development Fee Of 20.1%
There has been more and more innovation in the EV test equipment market. This is due to the increasing demand for emission-free and efficient electric vehicles, driver safety, charging stations and vehicle diagnostic functions that increase the lifespan of electric vehicles.
New York, March 30, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of the report “EV Test Equipment Market by Vehicle Type, Electric Vehicle Type, Device Type, Application, Region – Global Forecast to 2026”. – https://www.reportlinker.com/p06042203/?utm_source=GNW
Due to the increasing focus on the development of innovative battery technologies, the high demand for electronic functions and features of the vehicle and the strict emission standards, the demand for EV test equipment, software and repair data is increasing.
Increasingly stricter emission standards to reduce the negative environmental impacts due to vehicle emissions are leading to an increasing demand for vehicle emission test systems. Due to efforts to control vehicle emissions, various governments and OEMs are promoting the use of electric vehicles for transportation as it enables significant reductions in automotive emissions.
The advent of autonomous and semi-autonomous vehicles, the increasing adoption of connected vehicle technology, and the monetization of real-time data are expected to further fuel the growth of the EV test equipment market. The market is primarily determined by the worldwide increase in sales of electric vehicles and strict emission standards.
Favorable government policies and high acceptance rate of electric vehicles are expected to drive the electric vehicle test equipment market along with other factors such as advances in both EV charging technology and EV battery technology, increasing demand for on-board portable test equipment, etc. crank. The high cost of installing test equipment, the reduction in subsidies in key markets, and the high cost of electric vehicles pose challenges to the market.
Another factor that is holding back the growth of this market is the high cost of advanced test equipment. As EV manufacturers develop advanced batteries, e-axis assemblies, EV charging stations, and EV inverters, EV testing requires sophisticated instruments and equipment that add to the overall cost of the test equipment.
In order to save space and reduce the overall weight, smaller semiconductor components are also integrated into such electronic devices. This has created the need for highly accurate and precise test equipment.
Equipment also needs to be updated as regulations or technologies change.
The EV components and powertrain segment is expected to be the largest application segment in the forecast.
The EV Component and Powertrain Systems segment is expected to lead the EV Test Equipment market in terms of value during the forecast period. The test systems required for EV components and powertrains vary based on specifications (voltage and other factors), applications and standards, and compatibility.
The increasing acceptance of electric vehicles due to their emission-free operation and high fuel prices is leading to strong growth in the market for test equipment for the segment of electric vehicle components and the powertrain.
The engine test equipment segment is expected to be the second fastest growing equipment segment in the forecast period.
Motor test equipment is used to check the performance of an EV motor which includes torque measurement technology, high speed record measurement for mechanical and electrical signals. Electric motors on the current market have a utilization rate of around 50%, which means that half of the energy consumed is not converted into power.
Key components required to test an electric motor on electric vehicles currently include analysis software to synchronize the electrical and mechanical test signal displays, current and voltage probes (to measure inverter performance), and a digital torque sensor. Because of these requirements when testing EVs in Asia Pacific, the EV market is expected to grow significantly.
The commercial vehicle segment is expected to be the fastest growing vehicle segment in the forecast period.
The segment’s growth can be attributed to the Asia-Pacific region, which has led the sales of global electric commercial vehicles in recent years. Renowned OEMs such as BYD, Yutong and Tata develop and supply advanced commercial electric vehicles in bulk to fuel the growth of the commercial vehicle EV test equipment market in the region.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
• By type of company: Tier I – 52%, Tier II – 12% and OEMs – 36%
• By title: C-level executives – 23%, directors – 47% and others – 30%
• By region: North America – 33%, Europe – 31%, RoW – 8% and Asia-Oceania – 28%
The EV test equipment market includes large companies such as AVL (Austria), TÜV Rheinland (Germany), Teamtechnik (Germany), Chroma ATE (Taiwan) and Horiba (Japan).
The market study covers EV Test Equipment market size and future growth potential in various segments such as: B. by vehicle type, electric vehicle type, device type, application and region. The study also includes an in-depth competitive analysis of key market players along with their company profiles, key observations on product and business offerings, recent developments, and key market strategies.
Main benefits of buying the report:
• The report will assist market leaders / new entrants in this market to obtain information on the closest approximations to sales figures for the entire EV Test Equipment Market and its sub-segments.
• This report will help stakeholders understand the competitive landscape and gain more insights to better position their companies and plan appropriate go-to-market strategies.
• The report also helps stakeholders get the pulse of the market, providing them with intelligence on key market drivers, restraints, challenges, and opportunities
Read the full report: https://www.reportlinker.com/p06042203/?utm_source=GNW
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