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.
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.
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.
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.
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.
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
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%.
| 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 |
|
| Regions Covered |
|
| Key Countries Profiled |
|
| Key Companies Profiled |
|
| Customization | Available Upon Request |
By Product Type:
By Application:
By End-Use Industry:
By Region:
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.
Explore Similar Insights
Battery Voltage Recorder Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
