Battery Cyclers Market Size Worth US$ 298.20 Million by 2028 | CAGR 6.2%: The Insight Partners

According to the new research report published by The Insight Partners on "Battery Cyclers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Channel Type (16, 8, and 4), Battery Type [Lead Acid, Nickel Cadmium (NiCd) Batteries, Nickel-Metal (NiMh) Batteries, and Lithium-Ion (Li-Ion) Batteries], and End User (Aerospace, Energy & Power, Automotive, Consumer Electronics, and Others

The global battery cyclers market size is expected to reach US$ 298.20 million by 2028, registering at a CAGR of 6.2% from 2022 to 2028, according to a new research study conducted by The Insight Partners.

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A battery cycler is an instrument that helps in analyzing battery function through charge and discharge cycles by measuring the response of the cell over time. During battery cycling, various parameters can be measured, including the battery's efficiency, battery capacity, and self-discharge. Furthermore, the charge and discharge testing help measure the net result of all the electrochemical processes occurring inside the cell. It helps in monitoring and controlling the degradation of the battery in the low-frequency range.

The major stakeholders in the global battery cyclers market ecosystem include raw material and component suppliers, battery testing equipment manufacturers, battery testing service providers, battery manufacturers, and end users. The suppliers of raw materials and components offer numerous parts and components for producing battery cyclers. Different types of components are used to manufacture battery cyclers, including fuses, powerful embedded controllers, and speed fans. The timely supply of all these components is crucial for efficient operation across battery cyclers manufacturing plants. Thus, any operational impact on these component providers directly affects the growth of the battery cyclers market.

APAC accounted for the highest share in the global battery cyclers market in 2021 and is expected to grow at the highest CAGR during the forecast period battery cyclers market share. China and Japan have various battery cyclers market players such as Xiamen Tmax Battery Equipments Limited, HIOKI E.E. CORPORATION, BYD Company Limited, and Blue Energy Co. Ltd. Further, the proliferating telecom, automotive, and consumer electronics sectors are boosting the market growth. In addition, the rising investment by governments of various APAC countries for the growth of the electronics & semiconductors manufacturing industries will increase the demand for batteries in the region, which is fueling the market growth in the region. Moreover, the declining lithium-ion battery prices, fast adoption of electric cars, and a burgeoning renewable sector are also propelling the growth of the battery cyclers market.

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Asia Pacific has several developing economies with a significant number of natural and human resources. With the legislative support from governments of Asia Pacific countries to promote the manufacturing sector, India is likely to become a key investment hotspot for battery businesses in the coming years. China, which dominates the production of lithium-ion batteries globally, has witnessed a reduced production among its two largest lithium-ion battery manufacturers, i.e., CATL and BYD, due to a shortage of labor and raw materials. The battery cyclers market growth is attributed to the declining lithium-ion battery prices, fast adoption of electric cars, a burgeoning renewable sector, and high consumer electronics sales. However, a raw material demand-supply gap is hampering the battery cyclers market growth.

China is the largest EV manufacturer in the world. Also, China is the global leader in the production of passenger cars and commercial vehicles, as well as electronic product assembly. The presence of a robust manufacturing base is a key factor driving the growth of the market battery cyclers. The government of China has introduced an initiative named "Made in China 2025", which further drives the growth of the automotive manufacturing sector. Also, the majority of products manufactured by electronics equipment manufacturers take place in China. It is the largest manufacturer in the globe, with the presence of various diverse industries, especially electronics & semiconductors and consumer electronics. As the electronics & smartphone industry is a prominent end user of battery cyclers due to the large number of batteries manufactured, the scope of the market is expected to grow. Also, the country records the largest number of sales (1.2 million units sold in 2020) of electric cars, followed by Europe and the US. Therefore, the presence of a robust manufacturing base of electronics, smartphones, and electric vehicles is a key factor in the growth of batteries in China, which is driving the growth of the battery cyclers market size.

The battery cyclers market size is segmented into channel, battery type, and end user. Based on channel, the battery cyclers market is segmented into 16, 8, and 4. Based on battery type, the battery cyclers market is categorized into lead acid, nickel-cadmium (NiCd) batteries, nickel-metal (NiMh) batteries, and lithium-ion (Li-Ion) batteries. Based on end user, the battery cyclers market is segmented into aerospace, energy & power, automotive, consumer electronics, and others.

The List of Companies - Battery Cyclers Market

Arbin Technologies; ST Instruments B.V.; BioLogic Sciences Instruments; Chroma Systems Solutions, Inc.; and Unico, LLC. are a few key battery cyclers market players profiled during the study. Several other major market players were studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The market provides detailed insights, which helps the key battery cyclers market players strategize their growth.

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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 Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.

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