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Battery Testing Equipment Market

Battery Testing Equipment Market by Product Type, Capacity, End User & Region - Forecast 2022 - 2032

Market Insights on Battery Testing Equipment covering sales outlook, demand forecast & up-to-date key trends

Battery Testing Equipment Market Snapshot (2022-2032)

Global Battery Testing Equipment demand is anticipated to be valued at US$ 520 Million in 2022, forecast to grow at a CAGR of 4% to be valued at US$ 770 Million from 2022 to 2032. As of 2021, the market was valued at US$ 500 Million in 2021, and is likely to document a Y-o-Y expansion rate of 4% in 2022, reaching US$ 520 Million.

Report Attribute

Details

Estimated Base Year Value (2021)

US$ 500 Million

Expected Market Value (2022)

US$ 520 Million

Anticipated Forecast Value (2032)

US$ 770 Million

Projected Growth Rate (2022-2032)

4% CAGR

The growing disposable income of citizens in developing economies such as China, India, South Korea, and others has raised demand for automobiles. Factors such as increased expenditures by notable vehicle manufacturing businesses and favorable government regulations governing vehicle production in Asia Pacific are likely to support the region's battery testing equipment market expansion.

There are two types of battery testing equipment: stationary and portable. Furthermore, various pieces of equipment can be categorized based on their function, such as cell testing, module testing, and pack testing. They find widespread application in the automotive, electronics, and telecommunications sectors.

Which are Some Prominent Drivers Spearheading Battery Testing Equipment Market Growth

Technological improvements have resulted in an increase in demand for portable items like as powered tools, etc., which is indirectly boosting the need for battery testing equipment. Battery testing equipment with highly computerized characteristics, as well as current and user-friendly features like as touch screen control is becoming available on the market.

Consumers are more proud of their personalized electronics, and the availability of personalized battery testing equipment reflects this trend of complexity. The massive number of wearable device launches in the market is driving the demand for portable battery testing equipment.

The automobile industry's impending electric future is projected to have the greatest influence on the growth of the battery testing equipment market. Battery testing is done for a long time in the automobile industry to provide a valid basis for battery life warranty. As a result, high precision battery testing equipment shortens this period, resulting in the early conception and production of electric cars.

As a result, the market's evolution of battery testing equipment is being influenced by the need for high precision battery testing equipment. Consumers see instruments and software systems that enable and control the operating condition and life-cycles of batteries as a more cost-effective choice than the practice of recurrent battery changes.

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What are the Challenges Faced by the Battery Testing Equipment Industry

The high maintenance and component replacement costs expected by industrial battery testing equipment pose a global growth barrier to the global battery testing equipment market.

Why is Asia-Pacific emerging as an Opportunistic Battery Testing Equipment Market

China, as an electronics manufacturing powerhouse, dominates the battery testing equipment industry. Because of its developed electronics and telecommunications industries, the Asia Pacific market is predicted to grow rapidly after China throughout the projection period. Rising defense spending in nations such as China, and India, among others, is likely to boost the battery testing equipment market in the coming years.

Due to escalating confrontations across shared borders with neighboring nations, developing countries such as India, China, and Indonesia are focusing on upgrading their military capabilities. The growing industrial sectors in countries such as China and India are driving the growth of the battery testing equipment market.

Nikhil Kaitwade
Principal Consultant
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How is Europe Contributing to Growth of the Battery Testing Equipment Market

The presence of important manufacturers is projected to be the primary driver of the European market for battery testing equipment. Aerospace and defense, automotive, and healthcare industries are extensively investing in innovative technologies to expand their capacities with advanced machinery and provide better services to clients.

Companies in the France, Sweden, the United Kingdom, and Germany are creating innovative battery testing equipment for their global clients. Additionally, the development of eVTOLs and government initiatives in Germany, to establish urban air transportation infrastructure is projected to fuel the growth of battery testing equipment market participants.

Market Competition

The market for battery testing equipment is developing in places such as South East Asia, where there is a lack of convenient and charging infrastructure and the market is not yet equipped to support the expansion of electric vehicles (EVs). Many new businesses are beginning to set up battery testing and charging rooms. With only a few large manufacturers meeting this demand, there are several chances for global businesses to profit on the battery testing equipment market in this area.

  • Advanced Test Equipment Rentals (ATEC), a provider of high-quality testing rental services, expanded its battery testing equipment rental product portfolio in September 2018 with the introduction of the Arbin LBT21024, which features basic charge and discharge cycling in the telecommunications industry.
  • Chroma introduced an E-Scooter rapid charging testing system in 2021 to assist the CHAdeMO Association in evaluating electric car charging interface stimulators. It will also assist establish the Protocol Check Sheet for fast charging test requirements for two-wheeled EVs, in keeping with the international expansion of the EV sector.
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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 4% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2021

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Product Type
  • Capacity
  • End User
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • AVL List GmbH
  • Storage Battery Systems, LLC
  • Chen Tech Electric.
  • Chroma Systems Solutions, Inc.
  • Megger Group Limited
  • Greenlight Innovation
  • Intertek Group plc
  • Chauvin Arnoux Metrix
  • FLIR Systems 

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Available Upon Request

Key Segments Profiled in the Battery Testing Equipment Industry Survey

Battery Testing Equipment Market by Product Type:

  • Stationary Battery Testing Equipment
  • Portable Battery Testing Equipment

Battery Testing Equipment Market by Capacity:

  • Battery Testing Equipment below 400 V
  • Battery Testing Equipment from 401-800 V
  • Battery Testing Equipment above 800 V

Battery Testing Equipment Market by End User:

  • Battery Testing Equipment for Automotive
  • Battery Testing Equipment for Industrial End Uses
  • Battery Testing Equipment for Electronics and Telecommunications
  • Battery Testing Equipment for Medical Industry
  • Battery Testing Equipment for Grid & Renewable Energy
  • Battery Testing Equipment for Military/Aerospace
  • Battery Testing Equipment for Other End Uses

Battery Testing Equipment Market by Region:

  • North America Battery Testing Equipment Market
  • Latin America Battery Testing Equipment Market
  • Western Europe Battery Testing Equipment Market
  • Eastern Europe Battery Testing Equipment Market
  • Asia Pacific Battery Testing Equipment Market
  • Japan Battery Testing Equipment Market
  • Middle East and Africa Battery Testing Equipment Market

Frequently Asked Questions

FMI projects the global Battery Testing Equipment market to expand at a 4% value CAGR by 2032

Asia Pacific is expected to be the most lucrative region for Battery Testing Equipment market growth

AVL List GmbH, Storage Battery Systems, LLC, Chen Tech Electric., Chroma Systems Solutions, Inc., Megger Group Limited, Greenlight Innovation, Intertek Group plc, Chauvin Arnoux Metrix, and FLIR Systems are some of the market participants identified across the value chain in the global battery testing equipment market.

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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Battery Testing Equipment Market