Batteries have been used for a long time and have been using them for several applications, such as toys, watches, flashlights, laptops, and mobile phones. Apart from these applications, the surge in technological advancement has increased the applications of batteries, including the conversion of renewable energies to electrical energy, to power electric vehicles.
In addition, the testing of electric vehicles requires battery packs and cells to be discharged or charged based on the driving cycle profiles of the vehicle. Governments across the globe have published several drive profiles that are used to check the performance of electric vehicles and batteries, and these are the features boosting the demand for battery testing equipment across the globe.
The testing equipment checks the internal component and structure, such as power testing, electrical vehicle charger, & batteries testing. Moreover, the rising demand for fuel-less vehicles is surging the demand for electric vehicles and the battery testing equipment market. Nowadays, various technologies have been developed, and each technology has its features to ensure the safety concern related to the batteries.
There are specific measurements related to safety, performance, and aging of the batteries, such as internal impedance or resistance, rate of charging and discharging at different thermal conditions, the life cycle of batteries in other situations, heat generation during charging & discharging, along with the robustness of the battery. These are the key aspects bolstering the demand for the testing equipment and are anticipated to grow over the upcoming years.
Increasing demand for the portable devices pushing the growth of the battery testing equipment globally
The surge in electrification and digitalization is the primary growth enabler for the global battery testing equipment market. Nowadays significant growth in portable devices has been noticed. This situation has emphasized the need for batteries with a superior life cycle. The battery testing equipment has a range of applications in flat, cylindrical coin cells and the prismatic rechargeable testing of batteries.
It has a wide range of applications in several areas such as automotive, semiconductors, & electronics, telecom, healthcare, utility & energy, among others. Due to this, the demand for testing equipment is anticipated to grow over the upcoming years.
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Unprecedented investment in the European battery market to propel the demand for battery testing
Asia, primarily China, has the most significant number of manufacturers in the battery testing equipment market. Asia holds the maximum share in the market due to many battery manufacturers in China, Japan, India, and South Korea. The key players operating their business in the North American market are primarily focusing on the investment in R&D for the development of innovative products.
Latin America & the MEA are anticipated to have the most lucrative prospect for the battery testing equipment market due to the significant focus on the solar photovoltaic system and automobile industry. Moreover, Europe has a higher demand for battery test equipment as it is one of the advanced regions in terms of technology. Europe and North America are the prolific regions for the demand for testing equipment against the backdrop of increasing requirements for low carbon supply chains.
Market Structure and Competition Landscape
The global battery testing equipment market observes intense competition, mainly from China-based companies. The key players operating their business in the global 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.
The market is moderately fragmented due to the presence of several players and neck-to-neck competition among them. Consequently, the players involved in the production of battery testing equipment are concentrated on offering products with efficient properties, for instance,
- 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.
- In 2021, Chroma Systems Solutions, Inc. introduced an E-Scooter with a fast-charging testing system to support CHAdeMO Association checking EV charging interface stimulators.
Key Market Segmentation
RationalStat has segmented the global battery testing equipment market based on 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
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecast, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
- Annual reports, company filings, investor presentations, industry associations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for battery testing equipment manufacturers, manufacturing firms, energy & power companies, government organizations, educational organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption pattern, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The Global Battery Testing Equipment market is expected to grow at a CAGR of around 4% during the forecast period 2022-2028.
Asia Pacific is dominating the Global Battery Testing Equipment market in 2021.
The Global Battery Testing Equipment market is estimated at around US$ 494 million in 2021.
The emergence of Electric Vehicle coupled with increasing penetration of consumer electronics are the key drivers in the Global Battery Testing Equipment market.
Major companies 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, etc.