Key Innovations and Regulatory Push Propel Europe EV
Dublin, June 07, 2024 (GLOBE NEWSWIRE) — The “Europe Electric Vehicle Battery Formation and Testing Market: Focus on Vehicle Type, Application, Battery Chemistry, Deployment Method, Sourcing, Testing Type, and Country – Analysis and Forecast, 2023-2032” report has been added to ResearchAndMarkets.com’s offering.
The Europe electric vehicle battery formation and testing market (excluding U.K.) was valued at $227.6 million in 2023, and it is expected to grow at a CAGR of 16.76% and reach $917.7 million by 2032.
The growth of the electric vehicle battery formation and testing market is anticipated to be propelled by the increasing demand for electric vehicles (EVs) and the necessity to verify the safety, reliability, and performance of EV batteries. With the rapid acceleration in EV adoption, battery manufacturers face the challenge of producing high-quality batteries that adhere to rigorous safety standards.
The European market for electric vehicle (EV) battery formation and testing is experiencing robust growth, driven by stringent EU regulations on emissions and a strong push towards electrification. As European nations commit to reducing their carbon footprint, the demand for EVs has surged, necessitating advanced battery testing and formation processes to ensure safety and performance standards.
Key players in the region are investing heavily in R&D to innovate testing methodologies that enhance battery life and efficiency. Moreover, collaborations between automotive manufacturers and technology providers are fostering the development of state-of-the-art testing facilities. This market is further supported by government incentives for EV adoption and the establishment of high-tech manufacturing hubs, positioning Europe as a leader in the shift towards sustainable transportation.
Market Segmentation:
Segmentation by Application
Segmentation by Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Segmentation by Battery Chemistry
Segmentation by Sourcing Type
Segmentation by Deployment Method
Segmentation by Testing Type
- Mechanical Tests
- Thermal Tests
- Electrical Tests
- Others
Segmentation by Country
- Germany
- Hungary
- Poland
- Sweden
- Rest-of-Europe
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and regional presence.
Some of the prominent names in this market are:
- Siemens
- ABB
- SAP
- Dassault Systemes
- Tulip Batteries
- TUV SUD
- Infineon Technologies
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 95 |
| Forecast Period | 2023 – 2032 |
| Estimated Market Value (USD) in 2023 | $227.6 Million |
| Forecasted Market Value (USD) by 2032 | $917.7 Million |
| Compound Annual Growth Rate | 16.7% |
| Regions Covered | Europe |
Key Topics Covered:
Executive Summary
Scope of the Study
1 Markets
1.1 Industry Outlook
1.1.1 Trends: Current and Future
1.1.1.1 Growing Demand for High-Performance and Reliable Electric Vehicle (EV) Batteries
1.1.1.2 Strategic Business Strategies to Enhance Presence in the Electric Vehicle Battery Formation and Testing Market
1.1.2 Technology Roadmap
1.1.3 Ecosystem/Ongoing Programs
1.1.3.1 Consortiums, Associations, and Regulatory Bodies
1.1.3.2 Government Initiatives
1.1.3.3 Programs by Research Institutions and Universities
1.1.4 Key Patent Mapping
1.1.4.1 Patent Analysis (by Status)
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Growing Adoption and Utilization of Electric Vehicles
1.2.1.2 Improving Electric Vehicle Performance through Accurate Battery Testing
1.2.1.3 Stringent Government Regulations on EV Battery Safety and Performance
1.2.2 Business Restraints
1.2.2.1 Less Adoption of EVs in Many Underdeveloped and Developing Countries
1.2.2.2 Supply Chain Uncertainties and Lack of Charging Infrastructure
1.2.3 Business Opportunities
1.2.3.1 Growing Usage of Emerging Technologies for Battery Testing
1.2.3.2 Increase in the Number of Battery Failure Cases in Electric Vehicles
2 Regions
2.1 Europe
2.1.1 Europe: Country-Level Analysis
2.1.1.1 Germany
2.1.1.2 Sweden
2.1.1.3 Poland
2.1.1.4 Hungary
2.1.1.5 Rest-of-Europe
2.2 U.K.
3 Markets – Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.2 Market Share Analysis
3.3 Product/Service Matrix
3.4 Company Profiles
- Siemens
- ABB
- SAP
- Dassault Systemes
- AVEVA Group
- Tulip Batteries
- TUV SUD
- Infineon Technologies
- Element Materials Technology
For more information about this report visit https://www.researchandmarkets.com/r/3d3nff
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