The report assesses the global and regional market based on product type, size, end user, sales channel, and region. A comprehensive report provides a detailed historical and future market size with trend analysis. The report underlines the market share analysis, production capacities by EV manufacturers, competition overview, strategic imperatives, annual sales figures, growth avenues, production overview, and competition assessment for the target players.
Market Overview and Dynamics: Penetration of battery testing equipment to rise during the Forecast Period
The battery testing equipment market is expected to grow at a CAGR of around 4.5% during the forecast period of 2022-2028. Rising demand for Electric Vehicles is one of the key factors behind the growth of the global battery testing equipment market.
The global battery testing equipment market is expected to gain a moderate growth rate in the coming years. The factors driving the demand for battery testing equipment are increasing demand from the automotive industry, the growing energy and power sector, and increasing regulations regarding the safety of batteries. Moreover, the significant growth of the electronics industry is expected to accelerate the demand for battery testing equipment.
Europe is expected to dominate the global battery testing equipment market against the backdrop of rising requirements for low-carbon supply chains. China has major manufacturers of battery testing equipment market. In North America, battery testing equipment market manufacturers are primarily focusing on investment in R&D for the development of innovative products.
- On the basis of installation, portable devices are gaining significant growth during the forecast period owing to the surge in electrification and digitalization.
- Based on the end user, the electronics segment is expected to hold a prominent share of the global battery testing equipment market. Increasing demand for consumer electronics across the globe, changing lifestyles, increased per capita income of individuals, and availability of smart devices at low prices are some of the factors fueling the demand for electronics globally.
- On the basis of region, Europe is leading the global battery testing equipment market due to its advanced medical sector and digital communications.
The global battery testing equipment market is fragmented in nature with the presence of various players in the market. Companies are focusing on customizing battery testing equipment as per the needs and requirements of their customers. Subsequently, the players involved in the production of battery testing equipment are concentrated on offering products with efficient properties, and focusing on mergers and acquisitions, partnerships and collaborations, and product launches for the growth of the global battery testing equipment market. Some of the activities include,
- In January 2022, Chroma Systems Solutions, Inc. announced the launch of its new product line, which is high-power DC power supplies with triple output.
- In 2021, Proventia Oy and Keysight Technologies, Inc. started a joint venture for improved battery testing equipment for electric vehicle (EV) batteries.
Some of the prominent players operating in the global battery testing equipment market include Chroma Systems Solutions, Inc., Keysight Technologies, Inc., Arbin Instruments, Megger, DV Power, Century Yuasa Batteries Pty Ltd, Shenzhen Bonad Instrument Co., Ltd., Kikusui Electronics Corporation, Cadex Electronics Inc., KJ Group, MTI Corporation, Digatron, Elite Electronic Engineering, Inc., Neware battery testers International among others.
RationalStat has segmented the global battery testing equipment market on the basis of function, battery type, installation, capacity, end user, offering, and region.
- By Function
- Module Testing
- Cell Testing
- Pack Testing
- By Battery Type
- Nickel Cadmium (Ni-Cd)
- Lead Acid
- Others (Carbon-Zinc, Ni-MH, etc.)
- By Installation
- By Capacity
- Less than 100 V
- Between 100-300 V
- More than 300 V
- By End User
- Renewable & Grid Energy
- Others (Biology, Hospital, Medical Technology, etc.)
- By Offering
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
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