Product Code: ETC4578025 | Publication Date: Jul 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
The India EV test equipment market import shipment demonstrated strong and consistent growth with a CAGR of 30.3% from 2020 to 2024. Notably, the growth rate further accelerated to 30.4% between 2023 and 2024, indicating a robust expansion trend with increasing momentum over the years.
With the growth of electric vehicles in India, the EV Test Equipment market is crucial for ensuring safety, performance, and compliance with regulations. This market supports the development and deployment of electric vehicles in the country.
The electric vehicle (EV) test equipment market in India is experiencing strong growth due to several driving factors. First, the India government`s push for electric mobility and its ambitious targets for EV adoption is a significant driver. This includes incentives and subsidies for both manufacturers and buyers of EVs. As the EV ecosystem expands, the need for testing and certification equipment becomes imperative, driving the market. Additionally, environmental concerns and the desire to reduce greenhouse gas emissions are motivating consumers and manufacturers to transition to electric vehicles, further stimulating the demand for testing equipment to ensure safety and compliance.
The India EV Test Equipment market confronts challenges in terms of standardization and certification for electric vehicle testing. Ensuring that testing equipment meets rigorous standards is crucial.
The India EV Test Equipment market faced challenges during the COVID-19 pandemic, as the automotive industry faced disruptions in testing and R&D activities. The temporary slowdown in electric vehicle testing was due to lockdowns and reduced investments in automotive research and development. However, the market is poised for growth as India electric vehicle market expands. With increasing demand for electric vehicles and the need for rigorous testing to ensure safety and compliance, the EV test equipment market is expected to recover and thrive in the post-pandemic era.
Chroma ATE, AVL, Horiba, and National Instruments are notable companies providing test equipment for electric vehicles, contributing to the growth of India EV market.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India EV Test Equipment Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India EV Test Equipment Market Revenues & Volume, 2021 & 2031F |
3.3 India EV Test Equipment Market - Industry Life Cycle |
3.4 India EV Test Equipment Market - Porter's Five Forces |
3.5 India EV Test Equipment Market Revenues & Volume Share, By Vehicle Type, 2021 & 2031F |
3.6 India EV Test Equipment Market Revenues & Volume Share, By Electric Vehicle Type, 2021 & 2031F |
3.7 India EV Test Equipment Market Revenues & Volume Share, By Application Type, 2021 & 2031F |
4 India EV Test Equipment Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Government initiatives and subsidies promoting electric vehicle adoption in India |
4.2.2 Increasing focus on reducing carbon emissions and transitioning to cleaner energy sources |
4.2.3 Technological advancements in electric vehicle testing equipment leading to higher accuracy and efficiency |
4.3 Market Restraints |
4.3.1 High initial investment costs for setting up EV testing facilities |
4.3.2 Limited infrastructure and availability of skilled workforce for EV testing in India |
5 India EV Test Equipment Market Trends |
6 India EV Test Equipment Market, By Types |
6.1 India EV Test Equipment Market, By Vehicle Type |
6.1.1 Overview and Analysis |
6.1.2 India EV Test Equipment Market Revenues & Volume, By Vehicle Type, 2021-2031F |
6.1.3 India EV Test Equipment Market Revenues & Volume, By Passenger Car , 2021-2031F |
6.1.4 India EV Test Equipment Market Revenues & Volume, By Commercial Vehicle, 2021-2031F |
6.2 India EV Test Equipment Market, By Electric Vehicle Type |
6.2.1 Overview and Analysis |
6.2.2 India EV Test Equipment Market Revenues & Volume, By BEV, 2021-2031F |
6.2.3 India EV Test Equipment Market Revenues & Volume, By PHEV & HEV, 2021-2031F |
6.3 India EV Test Equipment Market, By Application Type |
6.3.1 Overview and Analysis |
6.3.2 India EV Test Equipment Market Revenues & Volume, By EV Component, 2021-2031F |
6.3.3 India EV Test Equipment Market Revenues & Volume, By EV Charging, 2021-2031F |
6.3.4 India EV Test Equipment Market Revenues & Volume, By Powertrain, 2021-2031F |
7 India EV Test Equipment Market Import-Export Trade Statistics |
7.1 India EV Test Equipment Market Export to Major Countries |
7.2 India EV Test Equipment Market Imports from Major Countries |
8 India EV Test Equipment Market Key Performance Indicators |
8.1 Adoption rate of electric vehicles in India |
8.2 Investment in research and development for EV testing equipment |
8.3 Number of accredited EV testing facilities in India |
9 India EV Test Equipment Market - Opportunity Assessment |
9.1 India EV Test Equipment Market Opportunity Assessment, By Vehicle Type, 2021 & 2031F |
9.2 India EV Test Equipment Market Opportunity Assessment, By Electric Vehicle Type, 2021 & 2031F |
9.3 India EV Test Equipment Market Opportunity Assessment, By Application Type, 2021 & 2031F |
10 India EV Test Equipment Market - Competitive Landscape |
10.1 India EV Test Equipment Market Revenue Share, By Companies, 2024 |
10.2 India EV Test Equipment Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |