The EV testing equipment market in South & Central America is expected to grow from US$ 704.41 million in 2021 to US$ 1,364.72 million by 2028. It is estimated to grow at a CAGR of 9.9% from 2021 to 2028.
The accelerated technological development of next-generation electric vehicles and their supporting components and the evolution of charging technology providers lead to rapid advancements in EV charging technology. The operations of electric vehicle charging stations are transforming due to the rising penetration of artificial intelligence (AI), the internet of things, and cloud computing, as major players in the EV test equipment market are beginning to shift their focus toward the development of smart testing protocols, which enables data connection between stations and EVs. Many technology providers, including ABB, Delta Electronics, and Enel X, focus on next-generation EV testing technology to integrate cloud connectivity, AI, access via smartphone, and real-time simulation in their infrastructure.
Furthermore, the emergence of new software solutions, such as cloud-based digital solutions for real-time fleet management and acceleration in electrification, is shaping the EV test equipment market. For instance, the charging management software offered by EVBox enables users to track, manage, and optimize their EV driving experience. Hence to monitor this, AI-integrated efficient testing solutions will be in major demand over the forecast period.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the South & Central America EV testing equipment market at a substantial CAGR during the forecast period.
Exhibit: South & Central America EV Testing Equipment Market Revenue and Forecast to 2028 (US$ Million)
South & Central America EV Testing Equipment Market Segmentation
The South & Central America 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 South & Cental America 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 South & Central America EV testing equipment market is segmented into Brazil, Argention, and Rest of SAM. In 2021, Brazil 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.; Durr Group; Tüv Rheinland; Intertek Group Plc.; and Wonik Pne Co., Ltd. are among some of the leading companies in the South & Central America EV testing equipment market.
At 9.9% CAGR, the South & Central America EV Testing Equipment Market is speculated to be worth US$ 1,364.72 million by 2028, says The Insight Partners
According to The Insight Partners’ research, the South & Central America EV testing equipment market was valued at US$ 704.41 million in 2021 and is expected to reach US$ 1,364.72 million by 2028, registering an annual growth rate of 9.9% from 2021 to 2028. Fostering production and sales of EVs and smart charging and connected infrastructure.
The rising concern regarding the transportation sector's impact on the environment has led to an unprecedented the 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 have resulted in a significant increase in the adoption of light-duty passenger vehicles across the region. Additionally, the constantly rising demand for electric vehicles is fueled by huge investments made by automotive giants in the research and development, and production of 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) have included numerous battery packs and vehicle electronic components, as well as improved charging stations, in electric vehicles as of 2021, driving 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, which is likely to contribute to the market growth.
On the contrary, excessive cost of EV testing equipment hurdles the growth of South & Central America EV testing equipment market.
Based on vehicle type, the South & Central America EV testing equipment market is segment into passenger car, commercial vehicle, and low speed electric vehicles. The passenger car segment held 58.9% market share in 2021, amassing US$ 414.77 million. It is projected to garner US$ 834.58 million by 2028 to expand at 10.5% CAGR during 2021–2028.
Based on equipment type, the South & Central America 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, AC/DC EVSE. The battery test equipment segment held 20.9% market share in 2021, amassing US$ 147.09 million. It is projected to garner US$ 320.32 million by 2028 to expand at 11.8% CAGR during 2021–2028.
Based on application, the South & Central America EV testing equipment market is categorised into EV component and drivetrain system, EV charging, and powertrain. The powertrain segment held 56.7% market share in 2021, amassing US$ 399.69 million. It is projected to garner US$ 764.37 million by 2028 to expand at 9.7% CAGR during 2021–2028.
Based on End Users, the South & Central America EV testing equipment market is categorised into OEMs, tier 1 suppliers, research and academics, and others. The tier 1 suppliers segment held 45.6% market share in 2021, amassing US$ 321.35 million. It is projected to garner US$ 613.59 million by 2028 to expand at 9.7% CAGR during 2021–2028
Based on country, the South & Central America EV testing equipment market has been segmented into Brazil, Argentina, and Rest of SAM. Our regional analysis states that Brazil captured 80.9% market share in 2021. It was assessed at US$ 569.72 million in 2021 and is likely to hit US$ 1,125.08 million by 2028, exhibiting a CAGR of 10.2% during the forecast period.
Key players dominating the South & Central America EV testing equipment market are National Instruments Corporation; Horiba Ltd.; Arbin Instruments; Maccor Inc.; Keysight Technologies, Inc.; Froude, Inc.; Durr Group; Tüv Rheinland; Intertek Group Plc.; and Toyo System Co., Ltd. among others.
In November 2021, Keysight Technologies, Inc. and Proventia Oy have teamed together to develop battery test solutions for electric vehicles (EVs). The partnership between Keysight and Proventia results in a location-independent, safe test facility that can be implemented quickly. In December 2020, Machine and system builder Durracquired a 75% stake in Teamtechnik. This acquisition also brings in a significant contract with one of the world’s largest e-mobility OEMsto provide test benches for electric drives.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 South & Central America EV Test Equipment Market – By Vehicle Type
1.3.2 South & Central America EV Test Equipment Market – By Equipment Type
1.3.3 South & Central America EV Test Equipment Market – By Application
1.3.4 South & Central America EV Test Equipment Market – By End-Users
1.3.5 South & Central America EV Test Equipment Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America EV Test Equipment Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. South & Central America EV Test Equipment Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Fostering Production and Sales of EVs
5.1.2 Extending Support from Governments
5.2 Market Restraints
5.2.1 Heavy Cost EV Testing Equipment
5.3 Market Opportunities
5.3.1 Higher Integration of New Technologies
5.4 Future Trends
5.4.1 Smart Charging and Connected Infrastructure
5.5 Impact Analysis of Drivers and Restraints
6. South & Central America EV Test Equipment Market Analysis
6.1 South & Central America EV Test Equipment Market Overview
6.2 South & Central America EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
7. South & Central America EV Test Equipment Market Analysis – By Vehicle Type
7.1 Overview
7.2 South & Central America EV Test Equipment Market, by Vehicle Type
7.3 Passenger Car
7.3.1 Overview
7.3.2 Passenger Car: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Commercial Vehicle
7.4.1 Overview
7.4.2 Commercial Vehicle: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Low Speed Electric Vehicles
7.5.1 Overview
7.5.2 Low Speed Electric Vehicles: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8. South & Central America EV Test Equipment Market – By Equipment Type
8.1 Overview
8.2 South & Central America EV Test Equipment Market, by Equipment Type
8.3 Battery Test Equipment
8.3.1 Overview
8.3.2 Battery Test Equipment: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Motor Test Equipment
8.4.1 Overview
8.4.2 Motor Test Equipment: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Engine Dynamometer
8.5.1 Overview
8.5.2 Engine Dynamometer: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Chassis Dynamometer
8.6.1 Overview
8.6.2 Chassis Dynamometer: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Transmission Dynamometer
8.7.1 Overview
8.7.2 Transmission Dynamometer: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8.8 Fuel Injection Pump Tester
8.8.1 Overview
8.8.2 Fuel Injection Pump Tester: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8.9 Inverter Tester
8.9.1 Overview
8.9.2 Inverter Tester: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8.10 EV Drivetrain Test
8.10.1 Overview
8.10.2 EV Drivetrain Test: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8.11 On-Board Charger
8.11.1 Overview
8.11.2 On-Board Charger: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8.12 AC/DC EVSE
8.12.1 Overview
8.12.2 AC/DC EVSE: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9. South & Central America EV Test Equipment Market – By Application
9.1 Overview
9.2 South & Central America EV Test Equipment Market, by Application
9.3 EV Component and Drivetrain System
9.3.1 Overview
9.3.2 EV Component and Drivetrain System: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.4 EV charging
9.4.1 Overview
9.4.2 EV charging: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Powertrain
9.5.1 Overview
9.5.2 Powertrain: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10. South & Central America EV Test Equipment Market – By End-Users
10.1 Overview
10.2 South & Central America EV Test Equipment Market, by End Users
10.3 OEMs
10.3.1 Overview
10.3.2 OEMs: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Tier 1 Suppliers
10.4.1 Overview
10.4.2 Tier 1 Suppliers: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.5 Research and Academics
10.5.1 Overview
10.5.2 Research and Academics: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.6 Others
10.6.1 Overview
10.6.2 Others: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
11. South & Central America EV Test Equipment Market – Country Analysis
11.1 Overview
11.1.1 SAM: EV Test Equipment Market, by Key Country
11.1.1.1 Brazil: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 Brazil: EV Test Equipment Market, by Vehicle Type
11.1.1.1.2 Brazil: EV Test Equipment Market, by Equipment Type
11.1.1.1.3 Brazil: EV Test Equipment Market, by Application
11.1.1.1.4 Brazil: EV Test Equipment Market, by End Users
11.1.1.2 Argentina: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 Argentina: EV Test Equipment Market, by Vehicle Type
11.1.1.2.2 Argentina: EV Test Equipment Market, by Equipment Type
11.1.1.2.3 Argentina: EV Test Equipment Market, by Application
11.1.1.2.4 Argentina: EV Test Equipment Market, by End Users
11.1.1.3 Rest of SAM: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 Rest of SAM: EV Test Equipment Market, by Vehicle Type
11.1.1.3.2 Rest of SAM: EV Test Equipment Market, by Equipment Type
11.1.1.3.3 Rest of SAM: EV Test Equipment Market, by Application
11.1.1.3.4 Rest of SAM: EV Test Equipment Market, by End Users
12. South & Central America EV test Equipment Market - Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Development
13. Company Profiles
13.1 National Instruments Corporation
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Horiba Ltd.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Arbin Instruments
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Maccor Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 KEYSIGHT TECHNOLOGIES, INC.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Froude, Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Durr Group
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 TÜV RHEINLAND
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 INTERTEK GROUP PLC
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 WONIK PNE CO., LTD
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES.
Table 1. South & Central America EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. SAM: EV Test Equipment Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Brazil: EV Test Equipment Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. Brazil: EV Test Equipment Market, by Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. Brazil: EV Test Equipment Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. Brazil: EV Test Equipment Market, by End Users – Revenue and Forecast to 2028 (US$ Million)
Table 7. Argentina: EV Test Equipment Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Argentina: EV Test Equipment Market, by Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. Argentina: EV Test Equipment Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 10. Argentina: EV Test Equipment Market, by End Users – Revenue and Forecast to 2028 (US$ Million)
Table 11. Rest of SAM: EV Test Equipment Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of SAM: EV Test Equipment Market, by Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of SAM: EV Test Equipment Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of SAM: EV Test Equipment Market, by End Users – Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES.
Figure 1. South & Central America EV Test Equipment Market Segmentation
Figure 2. South & Central America EV Test Equipment Market Segmentation – By Country
Figure 3. South & Central America EV Test Equipment Market Overview
Figure 4. South & Central America EV Test Equipment Market, By Vehicle Type
Figure 5. South & Central America EV Test Equipment Market, By Country
Figure 6. South & Central America: PEST Analysis
Figure 7. Expert Opinion
Figure 8. South & Central America EV Test Equipment Market: Impact Analysis of Drivers and Restraints
Figure 9. South & Central America EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. South & Central America EV Test Equipment Market Revenue Share, by Vehicle Type (2021 & 2028)
Figure 11. Passenger Car: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Commercial Vehicle: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Low Speed Electric Vehicles: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. South & Central America EV Test Equipment Market Revenue Share, by Equipment Type (2021 & 2028)
Figure 15. Battery Test Equipment: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Motor Test Equipment: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Engine Dynamometer: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Chassis Dynamometer: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Transmission Dynamometer: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Fuel Injection Pump Tester: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Inverter Tester: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. EV Drivetrain Test: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. On-Board Charger: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. AC/DC EVSE: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. South & Central America EV Test Equipment Market Revenue Share, by Application (2021 & 2028)
Figure 26. EV Component and Drivetrain System: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. EV charging: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Powertrain: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. South & Central America EV Test Equipment Market Revenue Share, by End Users (2021 & 2028)
Figure 30. OEMs: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Tier 1 Suppliers: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Research and Academics: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Others: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Geographic Overview of South & Central America EV Test Equipment Market
Figure 35. SAM: EV Test Equipment Market Revenue Share, by Key Country (2021 & 2028)
Figure 36. Brazil: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 37. Argentina: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 38. Rest of SAM: EV Test Equipment Market – Revenue and Forecast to 2028 (US$ Million)
