The report analyzes the regional and global market according to the product type, size, end-user, sales channel, and region. The report is comprehensive and provides detailed historic and forecast market size, along with trend analysis. The report focuses on the analysis of the market share production capacity of EV manufacturers, an overview of competition strategic imperatives, estimates of annual revenue, development avenues production overview, and competitive analysis for the players to target.
Market overview and dynamics: The penetration of equipment for testing batteries to increase during the forecast period
The market for battery testing equipment is anticipated to expand by around 4.5 percent over the period 2022-2028. The rising demand for Electric Vehicles is one of the main factors driving the expansion of the market for battery testing equipment.
The market for battery testing equipment is predicted to experience an average rate of growth over the next few years. The main factors driving demand for testing equipment for batteries include the growing demand from the automotive industry, the booming energy and power industry, and the increasing regulation of the security of batteries. Additionally, the rapid expansion of the electronics sector is predicted to increase the demand for testing equipment for batteries.
Europe is predicted to lead the global market for battery testing equipment in the context of increasing demand for supply chains with low carbon. China is a major producer of equipment for testing batteries. For North America, battery testing equipment producers are focussed on investment in RD to develop new products.
Segmental Analysis
- 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.
Competition Analysis
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
- Lithium-ion
- Alkaline
- Others (Carbon-Zinc, Ni-MH, etc.)
- By Installation
- Portable
- Stationary
- By Capacity
- Less than 100 V
- Between 100-300 V
- More than 300 V
- By End User
- Automotive
- Aerospace
- Electronics
- Telecommunication
- Defense
- Renewable Grid Energy
- Others (Biology, Hospital, Medical Technology, etc.)
- By Offering
- In-house
- Outsourced
- By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East Africa
- GCC
- South Africa
- Turkey
- Rest of the Middle East Africa
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