Electric vehicle test equipment market 2023-2027. A descriptive analysis of the five forces model, market dynamics, and segmentation - Technavio

NEW YORK, Jan. 11, 2023 -- According to Technavio, the global electric vehicle test equipment market size is estimated to grow by USD 117.98 million from 2022 to 2027. The market is estimated to grow at a CAGR of 23.11% during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 57%. For more Insights on market size, Request a sample report

Electric vehicle test equipment market - Five Forces
The global cloud data warehouse market is fragmented, and the five forces analysis covers– 

• Bargaining Power of Buyers 
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• Threat of Substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

Electric vehicle test equipment market – Customer Landscape

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Electric vehicle test equipment market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on vehicle type (hybrid electric vehicles, battery electric vehicles, and plug-in hybrid electric vehicles), application (EV component, EV charging, and powertrain), and geography (APAC, Europe, North America, South America, and Middle East and Africa). 

• The market share growth by the hybrid electric vehicles segment will be significant during the forecast period. Factors such as the growing popularity of HEVs, increasing production and launching of new models, and increasing complexity due to the integration of IC engines with EV engines are driving the growth of the segment.

Geography Overview
By geography, the global electric vehicle test equipment market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global electric vehicle test equipment market.

• APAC is estimated to contribute 57% to the growth of the global market during the forecast period. Governments in countries such as China and India are introducing various initiatives and subsidies to increase the adoption of electric vehicles. Numerous players are expanding production facilities and setting up new facilities to cater to the growing demand for EVs in the region. Furthermore, significant investments in infrastructure and industrialization have fueled the growth of EV passenger vehicles, which is creating significant growth opportunities for vendors operating in the region.

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Electric vehicle test equipment market – Market Dynamics

Key factor driving market growth

• The market is driven by the growing EV automotive industry.
• The sales of electric vehicles are increasing at a steady rate across the world.
• Popular automobile brands are investing in R&D to include EVs in their product lines.
• The inclusion of EVs in product lines is also helping automobile manufacturers to reduce their carbon footprint.
• The growth of the global automobile industry has subsequently fostered the production and sales of EVs globally.
• This has created the need for EV test equipment to ensure the safety and performance of vehicles, which is driving the growth of the market in focus.

Leading trends influencing the market 

• The emergence of digital testing is identified as the major trend in the market.
• Many vendors in the market are leveraging cutting-edge technologies such as virtual testing platforms to transform their service offerings.
• For instance, in April 2021, Volkswagen (VW) Group collaborated with Red Hat to deploy a virtual testing system for its electric research and development department. The collaboration is focused on enhancing the technologies that support intelligent, connected vehicles.
• Such developments among automobile manufacturers are increasing the demand for EV test equipment, thereby fueling market growth.

Major challenges hindering the market growth

• The lack of proper testing skills is the major challenge in the market.
• EV testing system operators must have a deeper understanding of EV testing procedures, drive cycles, and the functioning of the system.
• The testing is repeatable. However, the operator must have the knowledge of controlling variables that can affect the accuracy of the test results so that the measurement results are accurate and comparable.
• Also, the test operator must have appropriate experience with motor development testbeds and must provide all technical support to the testing facility to perform test activities according to the customer requirements.
• However, the market lacks such skillsets and the wrong selection of testing system operators can cause potential inaccuracies in measurement.
• Such factors are negatively impacting the growth of the global electric vehicle test equipment market.

Driver, Trend & Challenges are the factors of market dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this electric vehicle test equipment market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the electric vehicle test equipment market between 2023 and 2027
• Precise estimation of the size of the electric vehicle test equipment market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the electric vehicle test equipment market industry across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of electric vehicle test equipment market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Vehicle Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global electric vehicle test equipment market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global electric vehicle test equipment market 2017 - 2021 ($ million)

• 4.2 Vehicle type Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Vehicle type Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Vehicle Type

• 6.1 Market segments 
• Exhibit 30: Chart on Vehicle Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Vehicle Type - Market share 2022-2027 (%)

• 6.2 Comparison by Vehicle Type 
• Exhibit 32: Chart on Comparison by Vehicle Type
• Exhibit 33: Data Table on Comparison by Vehicle Type

• 6.3 Hybrid electric vehicles - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Hybrid electric vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Hybrid electric vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Hybrid electric vehicles - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Hybrid electric vehicles - Year-over-year growth 2022-2027 (%)

• 6.4 Battery electric vehicles - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Battery electric vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Battery electric vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Battery electric vehicles - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Battery electric vehicles - Year-over-year growth 2022-2027 (%)

• 6.5 Plug-in hybrid electric vehicles - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Plug-in hybrid electric vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Plug-in hybrid electric vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Plug-in hybrid electric vehicles - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Plug-in hybrid electric vehicles - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Vehicle Type 
• Exhibit 46: Market opportunity by Vehicle Type ($ million)

7 Market Segmentation by Application

• 7.1 Market segments 
• Exhibit 47: Chart on Application - Market share 2022-2027 (%)
• Exhibit 48: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 49: Chart on Comparison by Application
• Exhibit 50: Data Table on Comparison by Application

• 7.3 EV component - Market size and forecast 2022-2027
• Exhibit 51: Chart on EV component - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on EV component - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on EV component - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on EV component - Year-over-year growth 2022-2027 (%)

• 7.4 EV charging - Market size and forecast 2022-2027
• Exhibit 55: Chart on EV charging - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on EV charging - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on EV charging - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on EV charging - Year-over-year growth 2022-2027 (%)

• 7.5 Powertrain - Market size and forecast 2022-2027
• Exhibit 59: Chart on Powertrain - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Powertrain - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Powertrain - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Powertrain - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Application 
• Exhibit 63: Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027
• Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 US - Market size and forecast 2022-2027
• Exhibit 97: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 France - Market size and forecast 2022-2027
• Exhibit 105: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 109: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 Arbin Instruments 
• Exhibit 116: Arbin Instruments - Overview
• Exhibit 117: Arbin Instruments - Product / Service
• Exhibit 118: Arbin Instruments - Key offerings

• 12.4 ATESTEO GmbH and Co. KG 
• Exhibit 119: ATESTEO GmbH and Co. KG - Overview
• Exhibit 120: ATESTEO GmbH and Co. KG - Product / Service
• Exhibit 121: ATESTEO GmbH and Co. KG - Key offerings

• 12.5 AVL List GmbH 
• Exhibit 122: AVL List GmbH - Overview
• Exhibit 123: AVL List GmbH - Product / Service
• Exhibit 124: AVL List GmbH - Key offerings

• 12.6 Chroma ATE Inc. 
• Exhibit 125: Chroma ATE Inc. - Overview
• Exhibit 126: Chroma ATE Inc. - Business segments
• Exhibit 127: Chroma ATE Inc. - Key offerings
• Exhibit 128: Chroma ATE Inc. - Segment focus

• 12.7 comemso electronics GmbH 
• Exhibit 129: comemso electronics GmbH - Overview
• Exhibit 130: comemso electronics GmbH - Product / Service
• Exhibit 131: comemso electronics GmbH - Key offerings

• 12.8 Dewesoft d.o.o. 
• Exhibit 132: Dewesoft d.o.o. - Overview
• Exhibit 133: Dewesoft d.o.o. - Product / Service
• Exhibit 134: Dewesoft d.o.o. - Key offerings

• 12.9 Durr AG 
• Exhibit 135: Durr AG - Overview
• Exhibit 136: Durr AG - Business segments
• Exhibit 137: Durr AG - Key offerings
• Exhibit 138: Durr AG - Segment focus

• 12.10 HORIBA Ltd. 
• Exhibit 139: HORIBA Ltd. - Overview
• Exhibit 140: HORIBA Ltd. - Business segments
• Exhibit 141: HORIBA Ltd. - Key news
• Exhibit 142: HORIBA Ltd. - Key offerings
• Exhibit 143: HORIBA Ltd. - Segment focus

• 12.11 Keysight Technologies Inc. 
• Exhibit 144: Keysight Technologies Inc. - Overview
• Exhibit 145: Keysight Technologies Inc. - Business segments
• Exhibit 146: Keysight Technologies Inc. - Key news
• Exhibit 147: Keysight Technologies Inc. - Key offerings
• Exhibit 148: Keysight Technologies Inc. - Segment focus

• 12.12 KUKA AG 
• Exhibit 149: KUKA AG - Overview
• Exhibit 150: KUKA AG - Business segments
• Exhibit 151: KUKA AG - Key offerings
• Exhibit 152: KUKA AG - Segment focus

• 12.13 National Instruments Corp. 
• Exhibit 153: National Instruments Corp. - Overview
• Exhibit 154: National Instruments Corp. - Product / Service
• Exhibit 155: National Instruments Corp. - Key news
• Exhibit 156: National Instruments Corp. - Key offerings

• 12.14 Softing Automotive Electronics GmbH 
• Exhibit 157: Softing Automotive Electronics GmbH - Overview
• Exhibit 158: Softing Automotive Electronics GmbH - Product / Service
• Exhibit 159: Softing Automotive Electronics GmbH - Key offerings

• 12.15 TUV Rheinland AG 
• Exhibit 160: TUV Rheinland AG - Overview
• Exhibit 161: TUV Rheinland AG - Business segments
• Exhibit 162: TUV Rheinland AG - Key offerings
• Exhibit 163: TUV Rheinland AG - Segment focus

• 12.16 Unico LLC 
• Exhibit 164: Unico LLC - Overview
• Exhibit 165: Unico LLC - Product / Service
• Exhibit 166: Unico LLC - Key offerings

• 12.17 ZF Friedrichshafen AG 
• Exhibit 167: ZF Friedrichshafen AG - Overview
• Exhibit 168: ZF Friedrichshafen AG - Business segments
• Exhibit 169: ZF Friedrichshafen AG - Key news
• Exhibit 170: ZF Friedrichshafen AG - Key offerings
• Exhibit 171: ZF Friedrichshafen AG - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 172: Inclusions checklist
• Exhibit 173: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 174: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 175: Research methodology
• Exhibit 176: Validation techniques employed for market sizing
• Exhibit 177: Information sources

• 13.5 List of abbreviations 
• Exhibit 178: List of abbreviations

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