Press release
Lithium-Ion Battery Testing Equipment Market Size, Trends, Analysis, Demand, and Market Forecast 2023-2030
The market for lithium-ion battery testing equipment is expanding rapidly, mostly due to the increasing popularity of electric cars and the variety of battery types. The IEA reports that in 2022, the demand for automotive lithium-ion batteries increased by an astounding 65%, primarily due to a 55% rise in the number of new electric vehicle registrations.
Furthermore, there is a simultaneous rise in demand for vital elements like lithium, cobalt, and nickel as the market for lithium-ion batteries continues to soar. It highlights the significance of thorough testing and quality control tools to guarantee the dependability and safety of batteries, especially in the context of a sustainable global supply chain. The Asia-Pacific market for lithium-ion battery testing equipment is increasing rapidly, and important signs suggest that the industry is expected to increase.
Lithium-Ion Battery Testing Equipment Market Size and Growth Analysis
The Global Lithium-Ion Battery Testing Equipment Market reached US$ 512.3 million in 2022 and is expected to reach US$ 754.7 million by 2030, growing with a CAGR of 4.8% during the forecast period 2023-2030.
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Lithium-Ion Battery Testing Equipment Market Dynamics
The need for lithium-ion battery testing equipment is rising dramatically due to the expanding EV battery supply chain. The growing number of electric vehicles being produced and sold worldwide, especially in China and other large markets, emphasizes how important battery technology is to reaching net-zero emissions. The IEA projects that the demand for EV batteries would rise significantly by 2030, from about 340 GWh currently to over 3500 GWh, in order to achieve government EV objectives. Its growth calls for more expenditures all throughout the supply chain, including the fabrication of battery components and mining.
In addition, the security of the supply chain for the essential minerals and metals required for battery production is receiving increased attention as EVs take center stage in the automobile sector.
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Lithium-Ion Battery Testing Equipment Market Segment Analysis
By Type
By Equipment
By Region
Major Companies Covered
Hioki USA Corporation, Battery Technology Source Co. Ltd., Xiamen Tmax Battery Equipment Limited, ACS Solutions, GUANGDONG BELL EXPERIMENT EQUIPMENT CO.,LTD., Chroma ATE Inc., Kikusui Electronics Corporation, Guangzhou Lanqi Electronic Industry Co.,Ltd, Maccor Inc.
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