DUBLIN, February 11, 2022 /PRNewswire/ — The “Europe Electric Vehicle Powertrain Testing Services Market, 2016-2030” report has been added to from ResearchAndMarkets.com offer.
Europe EV Powertrain Testing Services Market Valued at $5,605.88 million in 2020, and it is expected to grow with a CAGR of 22.02% to reach $37,904.30 million in 2030.
Rapid production and sales of electric vehicles, stringent vehicle emission standards and regulations, and incentives offered by the government for the purchase and manufacture of electric vehicles are the major drivers influencing the demand for the market European EV powertrain testing services in the region in the forecast. period.
Car manufacturers are investing heavily in research and development activities to find innovative solutions to increase vehicle performance and reduce the risk of errors, road accidents and incidents in order to improve passenger safety during of automobile driving.
Falling prices of batteries used in electric vehicles, lucrative incentives provided by major authorities, and growing concerns about the effect of carbon emissions on the environment are proliferating electric vehicle sales in the region. Ongoing technological advancements and the use of emerging technologies such as artificial intelligence and cloud-based simulations to fuel powertrain efficiency and operate at higher efficiency are expected to create lucrative opportunities for market growth European EV powertrain testing services.
Growing fuel prices and the introduction of digital EV powertrain equipment, along with the booming automotive industry are expected to accelerate the growth of the European EV powertrain testing services market over the period of forecast. However, the high cost of testing equipment and lack of standardization may hamper the growth of the European EV powertrain testing services market over the forecast period.
The European electric vehicle powertrain testing services market is segmented on the basis of vehicle type, propulsion, supply, country and company. Based on vehicle type, the market is divided into light-duty, medium, and heavy-duty vehicles.
Light-duty vehicles are expected to witness the fastest incremental growth over the forecast period and the growing number of market players are driving the demand for light-duty vehicles in the region for the forecast period.
Goal of the study:
- To analyze the historical growth and market size of the European EV Powertrain Testing Services market from 2016 to 2020.
- To estimate and forecast the market size of Europe EV Powertrain Testing Services Market from 2021-2030 and the growth rate till 2030.
- To classify and forecast the European EV Powertrain Testing Services Market based on Vehicle Type, by Propulsion, by Source, by Country, by Company.
- Identify drivers and challenges for the European EV Powertrain Testing Services Market.
- Examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the Europe EV Powertrain Testing Services Market.
- Perform price analysis for the European EV powertrain testing services market.
- To identify and analyze the profile of major players operating in the European EV Powertrain Testing Services Market.
Key target audience:
- Electric Vehicle Powertrain Testing Service Providers and Other Stakeholders
- Government bodies such as regulators and policy makers
- Organizations, Forums and Alliances Related to the EV Powertrain Testing Services Market
- Market research and consulting firms
Key market players in the European EV Powertrain Testing Services Market include
- Applus+ IDIADA
- Ricardo S.A.
- TÜV SOUTH
- AVL List GmbH
- CTAG Automotive Technology Center of Galicia
- Intertek Plc Group
- ATESTEO GmbH & Co. KG
- HORIBA MIRA Ltd
- Element Material Technology
- FEV Group GmbH
Years considered for this report:
- Historical years: 2016-2019
- Reference year: 2020
- Estimated year: 2021
- Forecast period: 2022-2030
Europe EV Powertrain Testing Services Market, By Vehicle Type
- light duty
- Average use
Europe EV Powertrain Testing Services Market, By Propulsion
Europe EV Powertrain Testing Services Market, by Sourcing
Europe EV Powertrain Testing Services Market, By Country
- Czech Republic
- Rest of Europe
For more information on this report, visit https://www.researchandmarkets.com/r/4q9v4m
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SOURCE Research and Markets