Battery Testing Equipment Market is expected to reach US$ 682.98 million by 2028 with a CAGR of 4.7% from 2021 to 2028

According to the new research report published by The Insight Partners on "Battery Testing Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Portable and Stationary), Application (Module Testing, Cell Testing, and Pack Testing), and End User (Automotive, Electronics & Semiconductor, Telecom, Healthcare, Energy & Utility, and Others)" consists of the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

The battery testing equipment market was valued at US$ 494.33 million in 2021 and is projected to reach US$ 682.98 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2021 to 2028.

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Industries such as aerospace and defense, automotive, and healthcare are heavily investing in advanced technologies to strengthen their capabilities with advanced machinery and offer enhanced services to customers. Companies in the US, France, Sweden, the UK, and other countries are developing advanced battery testing equipment for their global customers. The rising procurement of advanced batteries by the US Army is also supporting the market growth. Furthermore, the development of eVTOLs and initiatives taken by governments of countries such as Germany, the UAE, and Singapore for developing urban air mobility infrastructure in these countries are expected to drive the growth of the battery testing equipment market players.

Elevating defense expenditure in countries such as the US, China, and India, and others is expected to drive the growth of the battery testing equipment market in the coming years. Developing countries, such as India, China, and Indonesia, focus on strengthening their military capabilities due to rising clashes across the borders shared with neighboring countries. The expanding manufacturing sectors in countries such as China and India are further propelling the battery testing equipment market growth.

Growing Demand for Transportation to Drive the

Due to the increasing disposable income of people in developing economies, such as China, India, South Korea, and others, the demand for vehicles has increased. According to the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales in India increased by 26.45% from September 2019 to September 2020. Factors such as increasing investments by prominent vehicle manufacturing companies and favorable government norms regarding vehicle manufacturing across Asia Pacific are expected to drive the growth of the battery testing equipment market in the region. Further, initiatives undertaken by the governments of countries such as Vietnam to expand its automotive industry are also expected to drive the battery testing equipment market size.

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Product Type-Based Insights

Based on product type, the battery testing equipment market is segmented into portable battery testing equipment and stationary battery testing equipment. The stationary battery testing equipment segment led the battery testing equipment market with a market share of 54.1% in 2020. The stationery battery testing is performed for a capacity test when the battery is new as part of the acceptance test, for impedance testing to establish baseline values for the battery, and to repeat the above testing process within 2 years for the warranty of the battery. The testing process checks the impedance quarterly on valve-regulated lead-acid (VRLA) cells and performs capacity tests at every 25% expected service life.

Application-Based Insights

Based on application, the battery testing equipment market is segmented into module testing, cell testing, and pack testing. The cell testing segment led the market in 2020. The cell stress tests are performed to evaluate the response to electrical, environmental, and mechanical stresses, among others. Cell testing provides a long battery life and simulates complex real-world test profiles. Moreover, cell testers are designed for performing tests on lithium-ion batteries, electrical double-layer capacitors (EDLC), and lithium-ion capacitors (LIC). This is anticipated to boost the battery testing equipment market size.

The List of Companies - Battery Testing Equipment Market

Arbin Instruments, Century Yuasa Batteries Pty Ltd., Chroma Systems Solutions, Inc., DV Power, Extech Instruments, Megger, Midtronics, Inc., Storage Battery Systems, LLC, and Xiamen Tmax Battery Equipments Limited are among the key players in the ecosystem that were profiled during this market study.

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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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