Battery Testing Equipment Market worth US$ 653.71 million by 2027- Exclusive Research by The Insight Partners

According to The Insight Partners latest market study on "Battery Testing Equipment Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Product Type (Portable Battery Testing Equipment, Stationary Battery Testing Equipment); Application (Module Testing, Cell Testing, Pack Testing); End-User (Automotive, Electronics and Semiconductor, Telecom, Healthcare, Energy and Utility, Others), and Geography" the market was valued at US$ 452.40 million in 2019 and is projected to reach US$ 653.71 million by 2027; it is expected to grow at a CAGR of 4.7% during the forecast period. The report highlights key factors driving the market growth, and prominent players and their developments in the market.

Increasing developments in electronics industry is a major driver for the global battery testing equipment market. Rising adoption of internet coupled with smartphone usage is expected to increase the demand for portable power sources. This demands the integration of batteries, such as silicon battery-an ideal choice for electronic gadgets, for enhanced energy storage. At present, smartphones with lightweight and innovative features are preferred by consumers across the world. However, several innovative features, such as video streaming and high graphic resolution games, mitigate the battery performance. Hence, several companies are focusing on replacing graphite batteries with silicon batteries as it increases the capacity of the battery. This factor is anticipated to raise the demand for battery testing equipment in electronic and semiconductor products. Portable batteries are primarily used among flashlights, watches, calculators, clocks, computers, digital cameras, smartphones, laptops, printers, tablets, smart TVs, and wearable electronic devices, which demands for rigorous testing of battery lifecycle in consumer electronics, thus propels the market growth.

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Various industries such as aerospace and defense, automotive, and healthcare are heavily investing in advanced technologies to strengthen their capabilities with advanced machineries and offer enhanced services to customers. Companies present in countries such as the US, France, Sweden, and the UK are developing advanced battery testing equipment for the global market.

Rising procurement of advanced batteries by the US Army is also supporting the market growth.
Furthermore, the increasing development of eVTOLs and rising initiatives undertaken by the government of countries such as Germany, the UAE, and Singapore for developing the urban air mobility infrastructure in the countries and rising defense expenditure of countries such as the US, China, and India are expected to drive the growth of the market during the forecast period. Developing nations such as India, China, Indonesia, and others are strengthening their military capabilities due to rising border clash with neighbouring countries. Additionally, increasing manufacturing industries in countries such as China and India are expected to propel the growth of the market in the coming years.

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Impact of COVID-19 Pandemic on Battery Testing Equipment Market

In Europe, the UK is the hardest-hit country by the COVID-19 outbreak. Europe is suffering an economic hit due to a lack of revenue from various industries, as countries such as the UK, Germany, and Italy recorded the highest number of COVID-19 confirmed cases in the region. Additionally, the outbreak of another variant of COVID-19 in the UK is hindering the battery testing equipment market. The region is a significant manufacturing and industrial hub for sectors such as healthcare, aviation, manufacturing, automotive, energy and power, and others. However, due to the outbreak pandemic, many businesses in Europe face financial challenges as they had to reduce their activities substantially owing to lack of human resources, government-imposed restrictions, and decreasing sales. However, with the increasing initiatives undertaken by the governments of countries such as the UK, Sweden, and Germany to develop urban air mobility infrastructure in the countries is expected to provide growth opportunities to the market in the coming years.

On account of the benefits offered by battery testing equipment, they have witnessed growing demand from numerous end-use industries such as automotive. For instance, battery testing equipment can test discharged batteries, assess various kinds of batteries manufactured, and assist in offering enhanced safety to users. As increasing number of batteries are being incorporated in vehicles, rise in automobile production is directly proportional to the growth of the battery testing equipment market.

Company Profiles

• Arbin Instruments
• Century Yuasa Batteries Pty Ltd
• Chroma Systems Solutions, Inc.
• DV Power
• Extech Instruments
• Megger Group Limited
• Midtronics, Inc.
• Storage Battery Systems, LLC
• Xiamen Tmax Battery Equipment Limited

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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