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Battery Voltage Recorder Market

Battery Voltage Recorder Market By Product Type (Portable, Stationery) Application (Standard Batteries, Rechargeable Batteries), End-Use Industry (Automotive, Aviation, Healthcare, IT & Telecom) & Region - Forecast 2022-2032

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

Battery Voltage Recorder Market Overview

Global battery voltage recorder demand is projected to be valued at US$ 5.47 Billion in 2022, forecast to grow at a CAGR of 12.65% to be valued at US$ 18 Billion from 2022 to 2032. Growth is attributed to the rising demand for renovation projects and development in residential and commercial construction.

Report Attribute

Details

Estimated Base Year Value (2021)

US$ 4.92 Billion

Expected Market Value (2022)

US$ 5.47 Billion

Anticipated Forecast Value (2032)

US$ 18 Billion

Projected Growth Rate (2022-2032)

12.65% CAGR

Battery voltage recorders, handheld device designed for cell voltage, measuring string voltage, and ambient temperature has headed to their steady growth. Owing to its aptitude to shield a wide voltage measurement range of up to 500 V, single batteries, as well as large battery banks, can both be supervised and tested with battery voltage recorders, an innovative way of gaining traction owing to the rise in user-friendly software.

Manufacturers are striving to achieve innovation in line with consumers’ interests. Thus, experiments with new features are performed by players in the battery voltage recorder market.

Which are Some Prominent Drivers Spearheading Battery Voltage Recorder Market Growth?

Battery voltage recorder measured variables can be displayed in histogram form on the 2.8” color display and can save up to 1000 measurements within its internal storage. Additionally, the snowballing revenue of electric vehicles is one of the crucial factors boosting the growth of the battery voltage recorder market. Proprietary DV-Win software allows detailed data analysis of battery health and Data can be downloaded from the device using Bluetooth or USB.

The low maintenance and environment-friendly nature have made battery voltage recorders popular. Moreover, the battery voltage recorder is multifunctional, which is an additional factor stimulating the growth of the battery voltage recorder market. Superfluous features of battery voltage recorder which are anticipated to propel the demand for the battery voltage recorder market during the forecast period encompasses ease of use and user-friendly interface.

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What are the Challenges Faced by the Battery Voltage Recorder Industry?

Some battery voltage monitoring systems don't support the capacity to tackle large quantities of cells. Battery cells can get unusually hot when they are failing. This condition is called thermal runaway and is a type of uncontrolled positive feedback. It's unequivocally crucial to have the ability to monitor each of the battery jars.

Why is Asia-Pacific Emerging as an Opportunistic Battery Voltage Recorder Market?

The APAC market for battery voltage recorders is expected to offer lucrative growth opportunities despite the sluggish growth in the past. This trend will change and make the region a lucrative market for battery voltage recorders owing to the user as well as environment-friendly instruments.

In addition to this, the large population base is expected to make the Asia Pacific an emerging market for battery voltage recorders. Innovation in terms of functions will be a trend in the market.   

Nikhil Kaitwade
Principal Consultant
LinkedIn
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How is Europe Contributing to the Growth of the Battery Voltage Recorder Market?

The battery voltage recorder market in the European region has grown considerably due to the increasing demand in the electronics and instrumentation industry, which is likely to increase the manufacturing and sales of battery voltage recorders in the region.

Owing to the strategic standing of batteries for the EU, the European Commission established the European Battery Alliance to back the scaling up of state-of-the-art solutions and manufacturing capacity in Europe. In May 2020, as part of the third 'Europe on the move' mobility package, it approved a dedicated strategic action plan on batteries, with an array of measures concealing raw materials extraction, sourcing, and processing, battery materials, cell production, battery systems, reuse, and recycling.

Why does North America Hold a Significant Share in the Battery Voltage Recorder Market?

Electric power markets in the United States are experiencing noteworthy structural change based on EIA’s report, which will outcome in the installation of the capability of large-scale battery storage to contribute 10,000 megawatts to the grid between 2022 and 2024—10X the capacity in 2020.

Energy storage plays a crucial role in facilitating power grids to function with more flexibility and resilience. Besides, the reduced cost of installation in the region has also upsurged the demand in recent years and will contribute to the revenue generation

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Market Competition

Some of the key participants present in the global demand for the Battery Voltage Recorder market include Storage Battery Systems, LLC, Amprobe, Robert Bosch, Fluke, ACT Meters, Cadex Electronics, Maccor, West Mountain Radio, Eagle Eye Power Solutions, Transcat, Inc., among others.

Robert Bosch is developing battery monitoring and control software to improve the capacity, safety, and charge rate of electric vehicle batteries. Bosch's advanced battery management system would maximize battery performance, resulting in a 30% increase in available capacity while reducing manufacturing costs by 25%.

Scope of Report

Report Attribute

Details

Growth Rate

CAGR of 12.65% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2016-2021

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
  • End Use Industry
  • Application
  • Region

Regions Covered

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

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Poland
  • Russia
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Storage Battery Systems, LLC
  • Amprobe
  • Robert Bosch
  • Fluke
  • ACT Meters
  • Cadex Electronics
  • Maccor
  • West Mountain Radio
  • Eagle Eye Power Solutions
  • Transcat, Inc.

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Available Upon Request

Key Segments Profiled in the Battery Voltage Recorder Industry Survey

By Product Type:

  • Portable Battery Voltage Recorder
  • Stationery Battery Voltage Recorder

By Application:

  • Battery Voltage Recorder for Standard Batteries
  • Battery Voltage Recorder for Rechargeable Batteries

By End-Use Industry:

  • Automotive Battery Voltage Recorder
  • Aviation Battery Voltage Recorder
  • Healthcare Battery Voltage Recorder
  • IT & Telecom Battery Voltage Recorder

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Frequently Asked Questions

FMI projects the global demand of the Battery Voltage Recorder market to expand at a 12.65% value CAGR by 2032

North America is expected to be the most opportunistic Battery Voltage Recorder market

Storage Battery Systems, LLC, Amprobe, Robert Bosch, Fluke, ACT Meters, Cadex Electronics, Maccor, West Mountain Radio, Eagle Eye Power Solutions, Transcat, Inc., among others.

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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Battery Voltage Recorder Market