Press release
Battery Cyclers Market Size, Share and Forecast 2024-2033
Battery Cyclers Market Size
As per the report, the battery cyclers market size has grown rapidly in recent years. It will grow from $0.60 billion in 2023 to $0.69 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The battery cyclers market size is expected to see rapid growth in the next few years. It will grow to $1.18 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%.
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Electric Vehicles Fuel The Growth Of Battery Cyclers Market
The growth in the electric vehicle (EV) industry is expected to propel the growth of the battery cyclers market going forward. Electric vehicles (EVs) refer to vehicles that are propelled by electric motors using electrical energy stored in batteries or another energy storage device. The demand for electric vehicles (EVs) is increasing due to their environmental benefits, such as reduced emissions and economic incentives, along with advancements in battery technology and supportive government policies. Battery cycles are essential to advancing electric car technology by providing adequately tested and validated batteries, guaranteeing that they fulfill the exacting standards for dependability, performance, and safety that consumers and the automotive industry need. For instance, in April 2024, according to the International Energy Agency, a France-based intergovernmental organization, sales of electric vehicles increased by 3.5 million in 2023 compared to 2022, a 35% annual rise. Therefore, growth in the electric vehicle (EV) industry is driving the growth of the battery cyclers market.
Innovative Battery Testing Technology Advancements In The Battery Cyclers Market
Major companies operating in the battery cyclers market are focused on developing innovative products, such as battery testing technology, to enhance accuracy, efficiency, and reliability in assessing battery performance across various industries. Battery testing technology refers to the methods, techniques, and equipment used to determine and evaluate battery performance, reliability, safety, and longevity. It encompasses many testing protocols designed to simulate real-world operating conditions and ensure that batteries meet specific standards and requirements. For instance, in April 2024, BioLogic, a France-based pharmaceutical company, introduced the BCS-900 battery cycler series, marking a significant advancement in battery testing technology. This system integrates exceptional performance with a user-focused design and includes the innovative BT-Lab software suite. Designed to cater to various stages of the battery industry, from research and development to pilot production and quality control testing, the BCS-900 series sets a new standard in versatility and capability.
The battery cyclers market covered in this report is segmented -
1) By Battery Type: Lithium-Ion, Lead-Acid, Nickel-Based Batteries, Other Batteries
2) By Service: Cell Testing, Module Testing, Pack Testing
3) By Application: Research, End-of-Line
4) By Industry: Automotive And Transportation, Consumer Electronics, Energy And Utility, Industrial, Education And Research, Other Industries
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Major companies operating in the battery cyclers market are WonATech Co. Ltd., Unico LLC, HIOKI E.E. CORPORATION, Neware Technology Limited, Bitrode Corporation, Solartron Analytical, DIGATRON Industrie-Elektronik GmbH, Maccor Inc., Amtest Electro Kft., Arbin Instruments, Chroma ATE Inc., Gamry Instruments, NH Research Inc., Aralab S.L., BioLogic Science Instruments SAS, Xiamen Tmax Battery Equipments Limited, Battery Associates Inc., Ivium Technologies BV, CH Instruments Inc., Petrotest Instruments
Contents of the report:
1. Executive Summary
2. Battery Cyclers Market Report Structure
3. Battery Cyclers Market Trends And Strategies
4. Battery Cyclers Market - Macro Economic Scenario
5. Battery Cyclers Market Size And Growth
…..
27. Battery Cyclers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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